Growing up, one of my favorite lines in Snoop's song Gin and Juice was when he said "I've got my mind on my money and my money on my mind." Back then it was just something cool to rock to over a tight beat. But after studying the rich, I discovered that there was actually some validity to what he said. Rich people make it a point to plan and analyze their money on a daily basis. Don't believe me? Check out Exhibit A and Exhibit B. By now you should have calculated both your net worth and what your net worth should be. The latter of the two may have shocked you a little, or a lot in my case. But don't worry, because now that we have a goal in sight we can start working towards it. But first, we have to align our minds with the goal so that our actions will follow. How do we do that?
- Start by scheduling a financial review for the same time each day. Whether it's 30 minutes before you go to bed, first thing in the morning, during your lunch break, make time to do it. By the end of the week you will have dedicated at least 3.5 hours working towards financial freedom, which is probably more than you're currently doing. Over time, you'll increase the time that you spend because of the progress that you're making (I'm always trying to find ways to get things paid off more quickly).
- Get a book like "The Total Money Makeover" by Dave Ramsey to help you map out your road to freedom. It's the book that I've used, and highly recommend.
- If you're using mint.com or some other online source to help keep you focused, download the app to your phone so that you can keep up with your goals while you're on the go.
- Before you leave home each day, and I mean before your hand turns the doorknob, I want you to stop and say aloud, with confidence, "TODAY I CHOOSE TO BE WEALTHY!" Trust me, it works. You will have turned your mind into money management mode for the day. Try it for the rest of the week and see how you do.
Becoming a money manager is one not only a must, but it will actually accelerate your progress. I've already paid off one degree 4 years ahead of schedule, and I'm working on the next one. Even if you can't do all four tomorrow, at a minimum, start with number 3 and work your way through the other items. In order to live free, we have to set our minds on freedom. You have point A and point B, and now it's time to start closing in on your goals. You can do it!
Change requires action!