In this new year, you need to make a careful assessment of how you faired financially and otherwise during the previous year. This is to enable you to know the areas in which you need to make some changes that would help you to have a better new year, 2019. Most times, you just need to make little adjustment to see substantial changes in life.
Towards the end of 2018, I spent several weeks brainstorming and researching about how to get better financially and how to also help thousands of my readers and followers world-wide to also achieve same results in 2019.
The result of this effort spanning a couple of weeks is what I want to share with you now. Here are 11 things you need to do differently in 2019 to become the financially successful person that you have always desired to be:
1. Get additional sources of income:If you have only one source of income, then you are taking a very big risk. No matter how anyone shy away from this truth, it still doesn’t change its validity. This applies to everybody, no matter how great you currently earn. What if you lose your current income source? You may hope in your emergency funds. However, what if your emergency funds get exhausted without getting another income source? These are questions that should propel you to start looking for a secondary and even tertiary income sources. You need to spread your financial risk by putting your eggs in a number of baskets – not just one.
In 2019, Be ready to try out a new business or investment. You need to take planned and calculated risks. You need to chart a new course for financial life. You need to try your hands in a new type of investment. You need to start a new part-time or full-time business. You just need to do something new that has the potential to add value to your financial life. Just get an additional income source, no matter how small it is. See 40 brilliant ways you can start making more money while keeping your day job. You can also invest in stocks, mutual funds, treasury bills, bonds etc.
2. Change your spending pattern: Cut down expenses. Wasteful spending has always been attributed to be the major cause of financial backwardness. If you must make meaningful financial progress in 2019, you need to identify financial loop holes in your spending patterns and block them. You need to carry out a personal spending audit in order to trace the leaks in your finances and stitch those leakages.
Financial leakages could be in form of servicing a high interest loan, excessive self- indulgence in drinking and taking of substance and drugs, or even womanizing.
One good thing about stopping financial leakages is that it make more money available to you for investments and financial prosperity. Do not forget to pay off your loans, especially the high interest loans. See how to get out of debt faster even if you don’t earn much.
3. Learn a new skill: I always stress the need for skill acquisition. Skill acquisition is very important, because it increases your value. If you can do something which is valuable and which many people cannot do easily, then you can name your price and people will be willing to pay you for such services. If you have a physical shop, the shop could get burnt up by fire and or thrives could steal your goods, but if you have a very useful skill, you will always make money from it.
In 2019, learn at least one unique skill that people will be willing to pay you for. Get professional certifications, but the emphasis is not really on the certificate, but on your ability to give value to people, to impact people positively and to solve problems from your knowledge and ability. The more useful skills you have, the better your chances of earning from them.
4. Network more and build more useful relationships: From personal experience, after GOD, your greatest source of progress in life is PEOPLE. Whatever you are today and whatever you will be tomorrow is linked to relationship and people. “No man is an island”, said John Donne and this is very true. You need others to succeed in life and to get better financially.
If you have been despising people, from henceforth, stop it! Don’t disregard ANYBODY no matter how little they are. You may just be despising you ladder of success.
In 2019, you need to DELIBERATELY build useful relationships that would better your financial fortune. Look out for people who you aspire to be like and find a way of getting close to them. You can write to them or you may just ask to take them out for launch where you can have the opportunity to talk. Anyhow you can, just find a way of building useful relationships. A link between you and you next level is RELATIONSHIP. One good recommendation by someone can provide the miracle you have been expecting for years. One good idea or advice given to you by a mentor can save you years of labour. Don’t joke with relationships! Your network will surely determine your networth! See 9 effective ways you can network your way to business and career success.
5. Develop a more positive attitude about life: Over and over again, philosophy and even religion have proven it beyond reasonable doubt that success is more likely to occur, even in the midst of seemingly difficult situations when there is a positive mental attitude and belief.
If you expect the best, you are very much likely to get the best out of life. If you are afraid and pessimistic about life, you are likely to see your fears come into reality.
In 2019, you need to continually expect, hope for and dream about the very best. You need to jettison every temptation to think negatively or pessimistic. You need to dream and think possibilities every day! You need to put your mind to work. The mind has the greatest creative powers on earth. The United State of America is not the greatest nation on earth. The greatest nation is imagi-nation. If you can conceive it, you can achieve it.
6. Work hard: There is no substitute to hardwork. In the coming year, be ready to work, work and work. If you are a youth, this is even more applicable to you. Now is the time to work hard. You need to work as hard as possible now as a youth, so that you wouldn’t need to work hard in your old age.
Naturally, the human body doesn’t love to be stressed. However, you need to go the extra mile to for a better future. For example, I am a part-time blogger and I do most of my blogging at night when other people are sleeping. I spend at least 2 hours each night blogging. This takes discipline and commitment to achieve. Nothing good comes easy! Some persons who want to get additional education while working can’t achieve this on a platter of good. You need to put in good amount of time and work to achieve this. This also applies to every other aspect of life, and wealth creation is not an exception.
7. Work smart: Sometime people work really really hard but with very little results to show for their efforts. The reason for this is because they don’t work smart. Smart-working is better than hard-working! Wisdom is the acceleration of hardwork!
What am I saying? In 2019, learn to use people to achieve your objectives. One good way of working smart is by leveraging other people’s ability and skills. Don’t do by yourself what someone else can easily do for you at minimal cost and with over 80% accuracy. Focus on the areas of your life that produces the best results. Only do the 20% most critical and important activities by yourself and delegate or outsource the other 80% activities.
Mordern manufacturing companies have learnt this principle. Initially most manufacturing companies had security department, logistics department, energy/utilities department, cleaning department, human resources department, IT department etc. However, now many of them have outsourced these departments to other companies so as to allow them to focus on their core business operations of manufacturing their products.
Working smart saves time and it is more effective. Time is more important than money. The reason is because, if you lose money, you can get it back, but if you lose time, you can’t get it back forever. Therefore, whenever, you have a choice between saving money and time, choose to save time. Use money to buy time and not vice versa.
8. Set SMART financial goals and review them quarterly:If you don’t know where you are going, you will get to no where. Wishful thinking can’t make you any better financially because, if wishes were horses, beggers would ride. A goal must be write down, else it is a mere wishful thinking.
As you go into 2019, you need to write down your financial goals for the year. To be effective, your goal should be “SMART”. This is an acronym for Specific, Measurable, Achievable, Relevant and Time-bound. Examples of SMART financial goals are as follows :
*By 30th July, 2019, I should have saved about N100,000 and invested it into mutual funds.
* By 20th October 2019, I should have become a skilled hair dresser and opened my own hair dressing saloon.
From the examples above, you can see that the goals are specific as to what I want to particularly achieve, it is measurable, achievable, relevant and there is a target time I should have achieved each of them.
To achieve the goals, you also need to ensure that you periodically review them. You can review them monthly or quarterly as the case may be.
9. Be on the look out for ways you can create value: Real wealth comes to those who create value. Most times the amount of wealth you can amass is proportional to the amount of people whose problems you solve. Bill Gates is as wealthy as he is today because he is solving a global problem and providing global products. Same with Larry Page and Sergey Brin and Mark Zuckerberg.
In 2019, always look out for ways of creating products and services that would satisfy the needs of people. Think of what you could do to save time for people, make people more comfortable and happier.
Most times you don’t even need to create an entirely new product. All you need do is to find ways of improving already existing products. That’s the key to genius, creativity and innovation. If you are able to satisfy the needs of people genuinely, then you are likely to be rewarded by wealth. Looking for ways of creating value is just one of the basic ways of generating business ideas. See 5 effective ways you can generate business ideas easily.
10. Be more generous to people : Banish selfishness. Wealth comes to those who are generous. If your intention of becoming wealthy is to show off, impress people or to oppress the poor, then you may never become wealthy!
Don’t wait until you get so much money before you begin to give out to others and to charitable causes. In 2019, allocate a percentage of your monthly budget to the needy. Start with what you have.
Always think about how you can help the less privileged, alleviate poverty, provide for the needy and wipe away the tears of others once you get more resources. That is the mindset that unlocks nature’s room of wealth and prosperity. When you become a channel, you will hardly lack what you are channelling. Be a channel of succour and blessing to the needy.
Get your motive right.
11. Deliberately increase your financial knowledge: Knowledge is power. You can hardly get ahead above what you know. You need to access the right information to get ahead financially in the coming year. Read good books and listen to the right people for direction.
One easy and unique way you can get good financial knowledge continually and frequently is to visit this blog frequently. You need to add your email address to our mailing list using the “Join The Millionaire’s Club “botton which you can find as you scroll down after this article. When you join our mailing list, you will receive email notification each time we publish a new article.
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You know yourself more than anyone else. There are many other things you can do to achieve positive change in your financial life.
However, start from the areas I have mentioned above. Get more delibrately about your life. Learning won’t do you much good, if you don’t apply the information you learn. Start now to implement the ideas above and watch your 2019 become a great year for you.
What are your views regarding these tips? I would love to know what you think about them. Kindly, let me know your thoughts, using the comment section below.
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To your success in 2019!