04/03/2016
The current year is gradually going, and for a few it’s been an extremely eventful and successful time. Unfortunately, this view is not shared by the majority who have gone through loads of financial challenges in 2015.
One thing that is common is the uncertainty that the new year brings. Will 2016 be a better or a worse year? No one knows. This normally brings a certain level of trepidation as one prepares to face the challenges of the new year head on.
I’m not a prophet or a soothsayer who can accurately predict what will happen to people financially in 2016. What I do know is that making money or building wealth next year and beyond is down to a series of actions and steps that will work for anyone if properly applied. How do I know this? These were exactly the steps I used in the last couple of years to increase my wealth.
Now strategy is a military term that depicts a plan, method or series of maneuvers for obtaining a specific goal or result. It has its origins from the Greek word “strategos” meaning to lead an army. Below are ten maneuvers, in no particular order, that if applied will help one build wealth in 2016.
1. Pay yourself first: In order to build wealth you cannot afford to spend everything you make on your expenses. Even though your expenses exceed your income you must imbibe the practice of keeping a portion aside that can be invested to produce more wealth for you. Failure to do this means nothing is left to be used as seed capital to grow wealth. Endeavor to keep aside at least ten percent of your monthly income towards taking advantage of opportunities to build wealth in a separate account.
2. Create an emergency fund: You must keep some funds aside to take care of life’s emergencies. An emergency fund should consist of six months to a year’s living expenses. Keep this money aside to take care of sickness, job loss or any other situations that can put pressure on your finances when they occur. This prevents you from diverting monies meant to work for you and using them to meet pressing needs. Ideally you should save at least ten percent of your income in your emergency fund till it reaches the equivalent of at least six months of living expenses.
3. Use the power of affirmations: Your mouth is a major tool that must be deployed when creating wealth. Even the Bible declares there is power in the tongue. What you say becomes reality in your life. Speak words that create wealth and wealth will appear. I created an affirmations document, starting every financial goal I desired with the words “I am,” and made declarations in the morning and evening. I eventually began to make progress as what I said began to come to pass.
4. Personal development: According to Charlie “Tremendous” Jones: “You will be the same person in five years as you are today except for the people you meet and the books you read”. Bill Gates, who has been amongst the richest people on the planet for the last thirty years, continues to read and develop himself, and you should too. The truth is you can never control plenty of something that you don’t understand. You must spend time studying the subject of money, how it works and the rules and laws behind its acquisition. I have personally studied fourteen books on the subject of money this year which have helped make me smarter about its acquisition.
5. Develop better time-management skills: multitasking is great when you can do it properly. For example, you can wash your teeth in the shower, or prepare the coffee while making a sandwich. However, sometimes you misinterpret multiple tabs in your browser with multitasking. You cant do too many things at once. When youre writing an important report, you cant do the research for another project or check Facebook notifications at the same time. The key principle of proper time-management is prioritizing. As soon as you start organizing your time according to priorities, youll notice a great improvement in your overall productivity.
6. Have a plan!
If you dont make a daily, weekly and monthly plan, how will you measure your efficiency Start each day by making a neat plan based on your priorities. This list will serve as a constant reminder that you have work to do. If you just create the plan in your mind, you wont feel guilty when you dont stick to it. Use a smartphone app, paper, Word document, or a virtual diary. Here is another type of list you can make: a Stop Doing list. You certainly have bad habits you want to get rid of. Write them down. When you have a clear reminder of your not-so-good personal treats, youll want to change them.
7. Evaluate yourself!
Be self-conscious about your actions and achievements. Take the time to think about the things you do well, as well as about the aspects of your character that need improvement. Do a resume of the day before you go to sleep. Did you spend too much time on a particular task Were you prone to distractions Dont forget to take notes of these impressions. This will help you evaluate your capacity and plan the next day properly. When you cant complete certain tasks effectively, youll need to look for a solution. For example, lets say you didnt write a cover letter or an important assignment because you didnt manage to complete the priorities for the day. If you postpone the task for few days, youll finally realize that its better to delegate it to a professional writer. When someone else can do the task better than you, it would be best to delegate part of your workload and focus on the other tasks on your list.
8. Stay healthy!
If your mind is not sharp and your body is not healthy, you cant expect to achieve the greatest levels of efficiency. You would feel weak and incapable to go through the day without taking a nap in between the tasks. Eat energizing food, do your exercise and make sure to freshen up your mind with positive thoughts.
9. Make some order!
This is the simplest way to explain why you need some order in your life: mess creates stress. You cant remember where you put your makeup brushes or grooming kit, so you waste fifteen minutes in the morning looking for them. If you clean your house and put everything back to order, you would save yourself from mini panic attacks. You cant find the time to do that Remember: delegate! Hire a cleaning service, and youll only need to maintain the effect for as long as possible. The order in your surroundings will immediately reflect itself on your overall efficiency.
10. Realize your big goal!
Dont limit yourself to a daily to-do list. Have a life plan! You can say youve achieved the ultimate level of efficiency when you reach your main goals within a reasonable timeframe. Set your great goals and ask yourself: what are you doing each and every day to get closer to them You can use a simple notebook or an online journal like Penzu to keep track of your big goals. When you visualize the things you want to achieve and you keep
