David Bach, writing at Yahoo Finance, has the best advice I’ve read on developing a plan for reaching your hopes and dreams. His challenge to “ditch that list of resolutions once and for all and instead follow my seven steps to create a Purposed-Focused Financial Plan for real success in 2008” is true not just about finances, but about every area of your life.
David suggests building a plan based a clear understanding of the things you value most because “people will do more to protect their values than just about anything else in life.” These are ideals that will not change and are therefore powerful motivators to help you create the life you want. Here’s his plan with some insights of my own:
- Ask yourself what matters.
- Identify your top five core values.
I like the idea of 5. Not 15 and not 2. And as David says, “stay focused on values – not goals, not things, not stuff to do or buy. Values are about being; they define a way of life.” Two of mine, for instance, are family and freedom. I want to do things that help my family (earn income for, spend time with, build relationships with, teach my kids, etc.) and work towards freedom – control my life instead of a job or money.
3. Use your values to figure out your financial goals. (all goals)
This is where you make plans and goals. But because they’re value based, the plans are easier to follow AND easier to change. You may only have 5 core values, but there are hundreds and thousands of plans and goals that can support them.
4. Make your goals specific, detailed, and deadline-driven – and write it all down.
Writing them down is CRITICAL. Write them out and review them often – like everyday because you’ve hung them on your mirror.
5. Take action toward your goals within 48 hours.
Move. Break the plans and goals into actionable steps and start doing the steps. Soon.
6. Enlist help.
Success is a team sport.
7. Include your partner and family.
The best team members you have are your family members. They are also the ones that will torpedo your life if they are not aware of, or on board with, your values, plans and goals.
Here’s another link to David’s detailed plan.
I wish you success in 2008.
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