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A better financial life, without excuses

Most of us aspire to a life of greater financial success. But it seems that only a limited number of people get to achieve that success.

If we are all born with a great variety of gifts, like a good working mind, how do we best put it to work to achieve that success we desire?

This month I’d like to go through some steps which might be the ticket to a better life financially. Like anything in life, the key to improving your financial condition is by better understanding it.

There appear to be 4 common areas that could be impacting our ability to achieve financial success.

  1. The inclination to seek comfort – the easy way. All of us, when confronted with some task or even opportunity that leads to a goal, seem to always want to take the path of least resistance. You know, the easy way out. How can I get the job done easily and with the least amount of effort, so that I will be comfortable doing it? Or how can I find shortcuts or easy ways that lead to the same goal. The temptation to follow this path can often lead to disaster and those seeking a quick return on investments are often ruined by this mechanism.

  2. Our need to justify away bad experiences and then forget about them – the failings of our past, where we didn’t take responsibility. We all have bad experiences in our past, which we try to forget, thinking this somehow makes them go away and stop affecting us. However, the reality is these experiences are still affecting us today, particularly if they involve situations in which we felt we were a victim or someone did “something to us” and which we are still failing to take any responsibility for ourselves right up to this present day. For example if they were financial situations, where we cannot even say to ourselves now.. “well you know I probably should have checked that investment out a little more carefully before deciding to put my money into it” or “I should have realised my brother would lose money in that business before giving it to him.” Any degree of responsibility we can accept for our past, helps us to make more informed decisions in the present.

  3. Our impulses around money, like sugar in the blood. As money can provide so much energy for us in life, enabling us to do things that are pleasurable and survival, it can unfortunately act a little like a drug for us. You know, we get a buzz spending a big amount of money on something or we get a real buzz when we receive a big injection of funds, like an unexpected bonus or win. It can act just like sugar does in our blood, giving us a “high” followed by a low. If we treat money this way, it tends to control us, just like a person who craves sugar does.

  4. The feeling of being worthy or unworthy – being worthy means you CAN have money. Our own sense of worth or lack of worth, can affect how we feel towards money. If we have any sense of lowered self-worth we might feel that we are not worthy of money and so actively be holding it away from us and not letting it come to us. Conversely a high sense of self-worth is often what makes a person very comfortable about receiving money and so they can easily have it. It comes to them. They feel worthy of receiving it. Some people even grow up with a sense of entitlement towards money. They just feel they are entitled to receive it and then often what they do, gives them what they feel they should be receiving.

All of these factors can be very powerful in influencing a person. As you can imagine, as an individual, working on your own, it can be very hard to counter these influences on your life. You may not even be aware of these factors or how they are affecting you. (Well now you might have some idea through reading this article! ☺)

So this is why it can help to have someone, an adviser, who looks at your situation from an external point of view and can perhaps help you see how these factors might be influencing you.

For example, trying all your life to be “comfortable” about money, might be the very thing that is holding you back. Because sometimes in order to get on the road to financial success, you might need to step outside your comfort zone and do something that might at first feel very UNcomfortable!

As advisers we see this very often. People come to us with the idea that they can achieve their goals with no effort or discomfort. When we talk to people to get an idea of their goals and what their dreams are, they will often paint a dreamy picture of this ideal scene they have in their mind.

But when you get down to talking about what needs to be done in order to get there, that’s when things get interesting. There are often some very powerful factors sitting there which are getting in the way of actually achieving the goal. Things like those listed above. Particularly this inclination towards comfort, finding the easy way there.

The reality is, that most of us can get there. We can achieve financial success. But it is much harder to do on your own with these factors working against you. Having a financial adviser, a coach if you like, is someone who works with you to help you overcome the problem.

The two of us together, combined, are more powerful than these influences and so working together in a unified manner, means we can overcome them.

Please feel free to contact us on how we can make that happen for you. Ironically, working with someone else, is actually easier!

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Investors Direct Financial Group

Investors Direct Financial Group (IDFG) was established in 2001.
Our mission is to help our clients achieve and maintain their financial freedom.

Members of the IDFG Group include:
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