Financial Destiny

Seven Tips for Taking Charge of Your Financial Destinyby:

Seven Tips for Taking Charge of Your Financial Destiny When you change your mind about something, you change your experience of it. If there is any room for growth in your finances right now or you have a desire to grow your business, then it is time to "grow your mind" by expanding your thinking. By creating a mindset for wealth, you begin a revolution in your experience of life.

Here are seven tips for taking charge of your financial destiny:

#1) Take responsibility for your current situation. Realize that you are where you are due to the sum total of your actions, as well as your non-actions. To the extent that you blame your financial situation on the economy or any other external circumstances, you give up your own power to shape things exactly the way you want. Let go of any reasons or excuses, and instead focus on the results you are committed to producing now.

#2) Realize that it's all you! Regardless of the state of the economy there are always people who do well financially. So what separates the people who do well in any circumstances from those who do not? Their thinking. Your financial circumstances are a reflection of your thought patterns, perceptions and beliefs. Some people complain that "it takes money to make money. I don't have any so I never will." But successful entrepreneurs realize that money is created by good ideas. One great idea can practically become your license to print money.

#3) Understand that having money requires focus on money. Many people have been taught to think that they should not focus on, or care about, money. In many circles it is even considered taboo to talk about it. In life you get what you focus on, so you either pay attention, or you pay with pain. When you don't pay attention to your finances, your habits of spending, saving, investing, working or handling money, then you pay with pain. Begin to pay more attention to every aspect of financial well-being and you can start to powerfully navigate your financial future.

#4) Recondition your financial pleasure centers. People who live their lives without much money have often been conditioned from youth to associate pleasure with spending. Those who do have money have often been conditioned to associate pleasure to saving and investing. They actually link pain to spending! That thought pattern results in accruing wealth. Change your internal associations and you can change your behaviors to ones that result in financial security. Multi-billionaire investor Warren Buffett has said that it's easier to make money than it is to spend it.

#5) Increase your financial vocabulary. Your language determines what concepts are available to you. This is a surprising concept to some people but think about it--if you don't understand the terms of the stock market or the language of real estate, how can you make educated investments? Increasing your financial vocabulary will expand your thinking, and therefore open you up to new possibilities and money-making opportunities. You can increase your financial vocabulary by reading financial magazines, newspapers and annual reports.

#6) Utilize winning financial strategies. There are effective financial strategies and ineffective financial strategies. One effective financial strategy is to recognize the value of money and measure financial expenditures based on return on investment. By measuring financial expenditures vs. opportunity cost, or the cost of not investing the money elsewhere, you may find that you begin to curb unnecessary or wasteful spending.

#7) Find a financial mentor. Who you are today is to a large extent based upon who you modeled when you were growing up, however, it is never too late to teach an old dog new tricks. If you feel that your finances still have room for growth, study someone who has the kind of success you desire and model the specific behaviors and beliefs that got them there. This is one of the most powerful actions you can take to immediately close the gap between where you are and where you want to be.
Your decisions determine your destiny. Taking charge of your financial destiny can be as simple as making the decision to put each of these tips into practice. Commit to even one of these and I promise you, you will become aware of just how much power you really do possess to achieve your financial goals...in spite of what anyone says about "economic conditions."