The art of (financial) focus

It’s a New Year. You may have set yourself some goals to achieve this year. Knowing that we rank our health, family and finances as our top 3 priorities many of you will set goals and resolutions around your finances.

So how will you actually achieve change in this area? By giving it some….yep you guessed it FOCUS. Money matters are just like our health. It takes time and discipline to get wealthy.

In Daniel Goleman’s book, Focus, he states that “life today seems ruled to a troubling degree by impulse; a flood of ads drives us to desire a sea of goods and spend today without regard to how we will pay tomorrow.” In the book he discusses self control and Will power and the “strategic allocation of attention” (he calls this attention chunking) as some ways in which we may be able to act more with more thought when it comes to our money and other life decisions.

When it comes to setting your money goals, focus on how you want to live your life financially? What is important to you? Is it repaying debt,   travel, the security of conservative assets? Who is important to you? Naturally family, but perhaps staff or charities and causes that you are passionate about. The answers will be different for each of us but in every case you will need to focus on what you want to achieve financially and how you plan to get there. You have heard me say it before but a goal without a plan is just a wish or a hope.

To maintain focus, schedule dedicated time in your calendar to ensure you stay on track and within budget. This might be weekly for those with strong impulse tendances but monthly is sufficient for most. Perhaps partner with a friend and once a quarter meet with your money buddy over a coffee or glass of wine and share your successes and shortfalls. A buddy system holds you both accountable and causes you to adjust your focus and realign to your goals

Like all skills focus is one that improves with practice and you will see the benefits of improved focus in all areas of your life. Your career, your family, your health and of course your WEALTH. What a great feeling it will be when 2019 rolls around and you have achieved the money goals you set for yourself this year and are on to bigger and brighter goals for the following year.

While all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Tanya Carlson, GPS Wealth Ltd nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information