Yesterday Australians everywhere were greeted with the news that we have started our recovery from the Global Economic Recession. Great news you would think. The challenge for most people I spoke to yesterday was the effect this would have on future interest rates over the next 12 months. Fear took positive news and turned it into a negative. Understandable, I suppose, when most people are living so close to the edge, week by week, hoping for a brighter future with no apparent way of controlling it. All too often we hear comments blaming the government, our boss or a myriad of other circumstances we have no control over.
Do you want some good news? Of course you do!
Instead of looking outward and blaming things outside our control, we can change our situation and be ready for the interest rate rises and not fear them. We can focus on some adjustments and minor changes that will ensure the books are balanced and we are in control.
I am not a financial guru, I have to work on this stuff myself every day. I am just going to share with you some stuff I know works. There are plenty of professional organisations that can give us actual financial advice but we still have to make the changes.
As for me and my house, we are going to set some goals and ensure the changes that are coming do not have a negative impact on our business and family life.
There are only 2 areas we can make changes that are in our control:
1. Increase our income
2. Reduce our outgoings
We have the opportunity to plan our future by setting and achieving goals in one or both these areas.
So what is Goal Setting? A process of deciding what you want, why you want it and what action needs to be taken to get it. A goal is completing something we said we would, within an allotted time frame.
We can break our goals down into 3 categories?
1. Short Term – daily or weekly.
2. Medium Term – monthly
3. Longer Term – yearly and beyond.
Every weekly goal has daily goals, every monthly goal has weekly goals and every yearly goal has, OK you get the picture. Small steps, one at a time.
Over the coming weeks we will look more deeply at the process and work together on doing what we can to secure our future and becoming cash flow positive.
As a coach it is not my role to set your goals for you, however I can certainly help you get on track and stay there.
Have a prosperous week!
The People Builder