Step 4 – Develop Your Plan
Now that you have your goal for financial recovery and you’ve assessed where you’re at today, the next step is to develop a plan that bridges the gap between where you are now and where you want to be.
Staying with our road-map analogy, you need to figure out the most efficient path to get from point A to point B.
It’s important to note you must balance offensive and defensive strategy at this point to keep the process fun and fulfilling.
For example, one mistake I often see people make when paying down debt is to do nothing but pay down debt. The problem is that’s not very fun or very rewarding for most people.
One solution is to balance paying down debt with adding in a little tax deferred retirement savings or other assets. The reason is to experience some emotional satisfaction so you feel rewarded by the asset growth, which increases your odds of staying with process long-term.
We aren’t robots: our emotions are part of the process and must be honored.
Step 5 – Take Action
The fifth step – taking action – sounds obvious when reading it, but for some reason, it eludes many people in practice.
The reason it’s important is because a plan for financial recovery is nothing more than wishful thinking until it’s converted into action.
Nothing happens until you take action. It’s where the rubber meets the road. Action is the fuel that converts goals into tangible results.
A lot of people dream about improving their financial situation, but few take consistent action, and that makes all the difference. The ability to consistently and persistently direct meaningful action toward achieving a goal is what separates successful people from those who are not.
Step 6 – Correct And Adjust
As you take action, the one result you can be certain of is you’ll learn from your experience – and mistakes.
You’ll improve your skills and become more knowledgeable as you take action. That’s why you should never try to perfect your plan from the beginning.
Instead, just get started with a reasonably intelligent approach and correct course as you learn more.
The wise goal achiever knows that perfection is impossible, but correction is desirable; therefore, he just gets started as best he can. Then, he adjusts along the way to achieve his goal more quickly and efficiently.
Seldom (almost never) will your first plan be your best plan, so don’t waste the effort trying. Starting immediately is more important because you’ll have plenty of time to correct course later.
We hope you have been motivated with this post. YES!!! RISE UP AND MAKE IT IN LIFE
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