4 minute read
The Most Straightforward Way to Succeed with Money
The Most Straightforward Way to Succeed with Money
by: Billy Epperhart
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You want to succeed with money, right? I believe that everyone wants to experience you want to learn to manage well. If you have plenty, you want to keep the train rolling so you can give generously for kingdom change.
I’m going to give you the most straightforward way to succeed with money. Are you ready? You must plan. Yes, it truly is that simple. Yet most of us aren’t taking the time every month or week to plan out our success with money.
It requires more than a budget. It’s bigger than getting out of debt. Think about it, a plan prepares you for opportunities and difficulties. It's essential to have a plan! So, how can you begin preparing for your financial success today? I'm going to give you five steps.
1. Set a Goal
The first key to making a plan is setting an attainable goal. I believe that goal-setting has a huge impact on life and that everyone should regularly set personal, business, and and think long-term. We’ll break it down into smaller goals later, but for now, think of retirement. Think of grandkids. Think of financial legacy.
Is there a sum you’d like to leave for your children and grandchildren? What about a property you would like to purchase as a vacation home for retirement? Would you or something else entirely?
I think the most important part of succeeding with money is believing that you can succeed. Set a goal with this in mind. Believe in something so great that you’ll need to work hard daily and pray with faith to make it a reality.
2. Calculate The Steps
You’ve set a goal. Now it’s time to think through the details. What is it going to take for you to buy that property or leave that legacy? Is there a business decision that needs to be made? What about moving funds, does it make sense to keep your savings somewhere else (maybe someplace with better interest?) At this stage, you don’t need to actually take the steps. You simply through the details. Also, it’s important to goal itself, will likely change. I urge you to continue on with the process and leave room for God to move in your life.
3. Think Through The Timeline
The third step is to dream about a potential timeline for the detailed steps you just mapped out. Don’t be afraid to challenge yourself a bit here. Yes, you want your timeline to be realistic and achievable but you don’t want to limit your potential.
Remember, believe that you can succeed with money and draw a timeline accordingly! This may look like saving a certain amount of money to invest by funding a child’s college account before she graduates high school, paying off your mortgage early, etc.
4. Prepare the Team
The team may consist of you and your spouse. It could also be a literal business team or a group of friends working towards a similar goal. Whoever is going to be involved needs to be prepared. Host a dinner, gather around the table and get serious. Talk through your goals, your timeline, and the details. Don’t feel silly or awkward, this is going to spark an excellent conversation! Then, consider investing in ongoing education for your team. I have a great course called “Money Mastery” that would be an excellent place to start.
5. Determine Baby Goals
Finally, it’s time to establish your smaller steps in number two. However, at this stage, you need the timeline and the details to merge into one achievable plan.
Maybe your first step will be establishing a budget. Step two may be saving a certain amount of money. Step three may be paying off your cars. Step four may be investing x-amount for retirement. Get it down on paper and keep it visible, especially visible to those on your team that you defined in step four.
The key to success is believing that you can succeed with money and going with essential to keep a large goal in focus and it’s essential to work towards the smaller goals you’ve thought through. When they do, go back to the basics. Believe that you will succeed with money and set a goal.
