Financial freedom is inherently dependent on only one factor: the direction in which you are heading. Every wrong decision will put you off track and every wise decision will bring you closer to your financial independence.
If you fail to focus on your day-to-day result-oriented activities and are distracted all the time, you will not be successful, and hence financially free. If you fail to manage and distribute your money well, you will not be successful and hence financially free. If you fail to work on your long-term goals and be passionate about the things you love to do, you will most definitely not be successful and hence financially free.
You can move in the right direction because all the major tools have been provided to you. You might face different situations than I did but ground rules will be the same for those who are ready mentally for financial freedom.
This chapter talks about the reasons for financial success or failure. Why do the majority of people fail and why do some succeed? It is interesting to see that the parameters and factors that influence financial freedom are the same. The starting point of financial success is the same but the majority of people take a random direction and land on the dry financial desert.
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Whether it is self-esteem, energy, or motivation—the lack of this factor will lead to failure and hence deter an individual from attaining financial freedom. If you have high self-esteem, you are energized and motivated to do your work, then you will be successful and attain financial freedom. The way you think, react, and behave in a situation makes all the difference between success and failure.
Do you want to be successful and financially free or do you want to be a failure and financially stuck? The ball is in your court.
Reasons for Failure and Success are the same. It can be said that if you focus too much on attaining success, this will just remind you of all the things you do not have. But rather, if you are not deterred by failure and take challenges head-on, you might just succeed because the moment you decide to take any challenge on the way to an unknown or known journey, you become unstoppable. Let us look at a simple example to understand this.
If you want to lose weight to become healthier, you will focus on the fact that you are in fact overweight and unhealthy at the moment. Instead, if you start taking action and are not affected by the hurdles in your way, you will most definitely be on the path of attaining the healthy body you dream for. You don’t see the pain in the process, all you can see are the end outcomes, feelings, emotions, respect you are going to welcome in your life after all those big or small but meaningful achievements.
Measuring success or failure is not simple and it depends on each individual and their definition of those terms. However, there are certain parameters that either aid or deter success and failure. The reasons for success and failure are almost the same because if the parameters are positive, you attain success and if the parameters are negative, you attain failure. For example, if you are energetic and positive about your dreams and passions, you will definitely attain success.
On the other hand, if you lack energy and are negative towards your goals, you will be on the path to fast failure. Energy is one of the prime factors which majority of failures ignore, and then wonder why they have failed. Your energy turns into excitement, and excitement turns into love with your goals, and goals turn into daily progressive momentum and daily progressive momentum turns into your desired results . . . just remember that most people confuse this progressive momentum as activities, which is a waste of time—stay away from the activities which are not progressive, which will not produce any results today.
You can break your success journey into a few steps and simply measure any goal by checking out whether you are making a daily progressive momentum or not.
Financial success can be defined as having stability and a good amount of expendable income. On the other hand, the absence of the above can be defined as financial failure along with debt, etc.
Thus, the factors that cause a person to be financially successful can also cause them to be financial failures. The difference is the way in which individuals handle these factors. It took me a while to understand how to handle money, but once I learned, there was no going back. Once you taste success and get a hold of your money, nobody can take that control away from you. You must remember one thing and pass this on to the people you love most.
Money which you pay to anybody in any form whether it is a payment, bill, or tax, is not just the money, it’s your life!
Let me expand on this a bit. Money is an outcome of your mental, emotional, physical, spiritual, or social efforts, and those efforts required time. Time is counted in seconds, seconds are hours, hours are days, days are years, and years are life because your life is measured in years. So be extremely wise with your money.
The excerpt is taken with permission from, Your Last Step To Fast Financial Freedom, Fingerprint Publishers, Aryan Chaudhary.
Also Read:
- The Siachen Rescue (An Excerpt from Insomnia by Rachna Bisht Rawat)
- I Cannot Let Myself Die Here
- Six love letters from books that will melt your heart away
- Do this to Keep Your Joints Healthy
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