“We buy things we don't need with money we don't have to impress people we don't like.” - Tyler Durden (Fight Club)

Introduction:

Welcome to my blog on achieving financial success! As a motivational speaker, I have spent years helping people overcome their financial obstacles and achieve their goals. Trust me, I know the challenges and the roller coaster that managing finances put us through. At one point not very long ago, my credit score was as low as 525, which led to me filing bankruptcy in 2011. Even after that, I found myself living paycheck to paycheck while earning well over $75,000/year. It took time and discipline, but I finally reached a 750-credit score and was able to reach a point that my finances were well enough to begin investing in rental properties. In this blog, I want to share with you some of the main steps I took and insights I have gained throughout my journey.

Financial success is not just about making money, it is about using your money wisely to achieve your goals and live the life you want. Whether your goal is to retire comfortably, buy a home, start a business, or simply have financial security, these tips will help you get there.

With that said, here are 7 keys to achieving financial success! 💰💰💰

1. Set clear financial goals

The first step towards financial success is to set clear, achievable financial goals. Write down your goals and be specific about what you want to achieve. Break your goals down into smaller, achievable steps and set deadlines for each step.

2. Create a budget

Creating a budget is essential for managing your money and achieving your financial goals. Start by tracking your spending for a few months to see where your money is going. There are tons of helpful apps that can automate the process once you enter in your personal data and goals. I love the Mint app and Personal Capital app, but there are quite a few out there. Then, create a budget that prioritizes your expenses and allows you to save money towards your goals. Make adjustments as needed.

3. Live below your means

Living below your means is a key component of financial success no matter how much income you earn; whether $20/hour or $2,000/hour. This means spending less than you earn and avoiding unnecessary expenses. Consider ways to cut back on expenses, such as cooking at home instead of eating out or driving a used car instead of buying a new one. Don't worry about what others' will think of you, this time is about focusing on you and your finances.

4. Invest in yourself

Investing in yourself is one of the most important things you can do for your financial success. This includes investing in your education, your health, and your personal development. By investing in yourself, you will gain the skills and knowledge you need to achieve your goals. and reach new heights. To get started into rental property investing, I made the decision to invest in myself by getting a mentor that sped up my learning process. This led to me and my wife slowly beginning to invest in rental properties. Now, after investing in a few rentals and learning even more, I help others achieve their real estate investing goals. I am also a success coach holding my clients accountable to their personal development goals. I'd love to help you as well, click here to get start.

5. Diversify your income streams

Diversifying your income streams is important for financial success. This means having multiple sources of income, such as a side hustle or a passive income stream. By diversifying your income streams, you will reduce your risk and increase your earning potential.

6. Avoid debt

Avoiding debt is crucial for financial success. This is a BIG ONE! Debt can be a burden that prevents you from achieving your goals and living the life you want. Avoid high-interest debt, such as credit card debt, and prioritize paying off any debt you have. Remember, you are only paying interest on the balance that you carry on a credit card or loan, so the sooner you can pay down those balances, the less interest you'll pay. It is smarter to apply any extra money to pay down these charges, than it is to save or splurging on shopping. Practice 'delayed gratification', the practice of being disciplined now and delaying the desire to spend for your wants until you have cleared out debt.

7. Stay disciplined

Staying disciplined is key to achieving financial success. This means sticking to your budget, avoiding unnecessary expenses, and staying focused on your goals. It may not always be easy, but the rewards of financial success are worth it for you, your family, and generations to follow.

In conclusion, achieving financial success requires discipline, dedication, and hard work. By following these tips, you can take control of your finances and achieve your goals. Remember, the journey to financial success is a marathon, not a sprint. Stay focused, stay disciplined, and you will achieve the financial success you deserve.

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