It’s what you learn after you know it all that counts – John Wooden
All my life I’ve been known to be self-disciplined in all areas of my life – especially on the financial side, however, this week saw me acting totally out of character, making a very unwise choice that could have cost me way more than I can afford to lose.
Thankfully my sister Find her here helped me put my life back into perspective which saved me from this cloud of darkness which descended on me in an instant when I least expected it.
When you think about self-discipline, what comes to mind? For me, self-discipline makes me think of willpower, controlled thoughts, pro-activeness, order, dedication, success, peace and control.
Self-discipline leads to success in every area of life. Successful people have strong willpower that withstands temptation. They have the willpower to relinquish short-term pleasures for long-term goals.
Those who lack self-discipline easily succumb to temptation, usually saying “Just this once, and never again”. They easily break their promises and commitments (to others and sometimes to themselves like in my case this past week) and destroy their own success (like I almost did). If we don’t discipline ourselves, life’s harsh lessons will do so for us. This is the law of action-reaction. Self-discipline requires us to keep control of our actions and to choose short-term discomfort over long-term failure.
During our short life on earth we receive three main types of education:
How much self-discipline have you been able to exercise in your life regarding your financial status?
Have you been able to choose short-term discomfort over long-term failure?
Did you know that according to the Cash Flow Quadrant there are four types of people?
• Employee – has a job
• Self-employed – owns a job
• Business Owner – owns a business system
• Investor – makes money work for them
Which quadrant are you in right now?
Which quadrant do you desire to be in?
Identifying where you are in the Cash Flow Quadrant right now can be done by looking at where the bulk of your income comes from. What affects our Cash Flow Quadrant we decide to generate our income from is due to internal differences in our core values, interests, outlook, life stage etc.
Understanding the basics to the Cash Flow Quadrant will help you increase your Financial IQ. Changing quadrants is a life-changing experience and often requires a fundamental shift in ones core values in order for the change to come about.
How much do you need financially for this life?
Do you know your unique Financial Freedom number? Here’s how to find out:
Monthly expenses (income) for your current lifestyle multiplied by 12 months
This equals your total Annual Expenses
Annual Expenses divided by 0.08 equals your total Nett Worth
Your total Nett Worth is made up of your Assets minus your Liabilities
How many Assets do you have?
Remember: Assets create your Financial Freedom – not you!
No life grows great until it is disciplined. Practised every day, self-discipline leads to peace, order and stability. It is the bridge that takes us safely over the wild river of life, from our dreams on the one side of the river to success on the other side.
Let your greatest gratification be delayed gratification.
Awaken your potential knowing that everything you need is within you.