A New Way to Approach Your Finances

I’ve met a lot of people that had varying financial circumstances. One of the greatest perks of working as an International Tax Specialist was that I got to see how people around the world financed their lifestyles. With the experience I got working at IRS, I found that the biggest thing keeping people from their lifestyles is their own limiting belief systems. They honestly believe that they cannot afford the life that they desire because of cost. Remember, I saw people living abroad and doing very well, earning much less than many folks here in the US.

To be honest, MOST people can live extremely comfortable lifestyles for far less than they think. The main thing that you will need is a new mindset, or a new way to approach your finances. I will write a few posts about this, as I think that it’s important for everyone to understand my personal beliefs as it pertains to finance, and how I guide my clients’ financial plans. I’m not going to spout a bunch of feel-good theory, but I will share how I approach personal finance when speaking to clients.

First, if you want to live a more quality life, you have to really examine your wants and make them high priority. The key is:

**Redefine your Wants as Needs and You Will Increase the Likelihood of Attaining Those Things**

The problem with most people is that they place their strongest desires in the Wants category, which significantly decreases their importance. I propose that instead of classifying a non-immediate goal as a Want, try classifying it as a Need. When you change how you state your biggest goals, it will tell your subconscious mind that your goals are necessary to your survival and, as with anything needed for survival, your mind will work overtime to find a way to secure whatever survival goal you desire. Here are some examples of Wants redefined as Needs.

*I want a new career
versus
*I need a career that will use my talents to the full and keep me inspired.

*I want financial security
versus
*I need to generate enough passive and earned income so that, even during tough economic times, I may continue to live my fullest life.

*I want to travel internationally
versus
*I need to explore the world, because this feeds my soul and keeps me intellectually stimulated.

When Wants are redefined as Needs, it forces your mind to devote more resources and energy to achieving that redefined goal. I think that any long-term desire can be redefined as a Need. When you make your goals a priority, you will see opportunities that may not have been obvious before; you will also find that you’re subconsciously arranging your life to work in harmony with your Needs.

Writing down your redefined Wants is extremely important. The process of writing takes an idea and makes it something more concrete, tangible, and realistic than when the thought resided in your head. I’d also suggest that every time you take an action toward a goal, make notes of things that worked and things that didn’t. You are apt to repeat a successful experience if you can replicate it.

*****

Please check back in the upcoming weeks for more tips on finance, as well as some very special updates from me!

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