No matter what financial state you are currently in – whether you are struggling to make ends meet or you are having one of the most financially abundant periods of your life – there are 3 simple things you need to continually apply to not only protect your money and investments, but also to grow them.
1. Your Psychology
This is the foundation of everything. If you don’t manage your emotional state and your beliefs about money, the economy, etc., you will not realize the opportunities available to you. It is in the moment you decide that no matter what, things will be okay because you are resourceful enough to handle any situation life hands you, that opportunities will begin to appear. Focus on your strengths, those qualities that make you you, the qualities that produce success in other areas of your life. When you come from a place of strength, instead of weakness and thinking about all the things you can’t control, you begin to create value for yourself and others. This is the value that will create opportunities and money.
2. Your Knowledge
There are unlimited strategies for creating money, from starting a business to real estate investing to internet marketing. Once you know your strengths, use your knowledge to find the right vehicle for you. However, even if you have the right vehicle, there is a science to achieving success. The fastest and easiest way to learn this science is by modeling someone who has already done it successfully. A mentor can save you the pain of learning things the hard way or reinventing the wheel. You can find mentors through networking, using the internet, or attending seminars, especially those which incorporate multiple experts. Check out the recent blog post Learn how to recession-proof your retirement and investments to see two events in May that will give you the knowledge you need to apply successful strategies for growing and protecting your finances.
3. Your Creativity
To create extraordinary results, you need to add creativity with the right psychology and the proper strategies. This is where your being resourceful, thinking innovatively, and coming up with new or different ways will help you reach your financial goals. For example, generate a list of ways you can increase your income, decrease your expenses, leverage your time/money and combine resources, update your strategy for the current conditions (especially in this quickly changing economy), etc. The more creative you are, the better you will position yourself.
Whether you want to create extraordinary results or just maintain what you have, the new economy demands you apply your skills and will put you to the test. I invite you to share your strategies in any of the three areas above for how you protect and/or grow your money.