Previously this blog explored some common characteristics of financially successful individuals. The first three traits that were discussed included 1) integrity, 2) courage, and 3) willingness to act. Every financial life plan needs vision and guidance to help people make smart decisions regarding money matters. Successful plans also need models of success to help provide an idea of what a financially free life actually means. Below are some additional characteristics that I believe are important traits to possess during the journey to tax and financial freedom.
4. Commitment
“There is a difference between interest and commitment. When you are interested in doing something, you do it only when circumstance permits. When you are committed to something, you accept no excuses, only results.” Author Unknown
“The best way out is always through.” - Robert Frost
Commitment provides the necessary energy and dedication to keep moving forward. Committed people do more than just have the willingness to take action. They keep taking action over and over again.
Creating a plan alone will not automatically fix your tax and financial problems. Tax resolution generally takes a great deal of commitment. As the old saying goes, anything worth having in life does not come easily. Financial freedom is worth the hard work and effort. Freedom to live a financially secure life awaits those who are committed to doing everything it takes to succeed.
5. Purpose
“The purpose of life is a life of purpose.” - Robert Byrne
“Many people have a wrong idea of what constitutes true happiness. It is not attained through self-gratification, but through fidelity to a worthy purpose.” - Helen Keller
Living a meaningful life starts with a sense of purpose. Successful and happy people have usually spent time considering their unique purpose in life and have taken steps to fulfill that purpose. Successful people know exactly where they are going and why they want to get there. They have a clear personal vision to guide them in their personal lives, their family lives, and their careers. Purpose provides the energy and focus to help us achieve life planning goals.
6. Creativity
“The creative is the place where no one else has ever been. You have to leave the city of your comfort and go into the wilderness of your intuition. What you'll discover will be wonderful. What you'll discover is yourself.” - Alan Alda
“The world is but a canvas to the imagination.” - Henry David Thoreau
We all have an innate sense to create in our lives. Successful people have learned to tap into their creative spark and do so in a way that enriches their lives and the world around them. They are constantly questioning the crowd and traditional expectations. They create their own unique definitions of success and rarely subject themselves to a herd mentality. For many this could include doing things differently from a financial perspective. Saving for emergencies rather than spending to keep up with others takes some imagination. Creative budgeting and finding ways to entertain on a limited budget are other examples of financial creativity.
Other creative endeavors help successful people charge their cognitive batteries and inspire goal driven accomplishments. Creativity requires independent thinking. It also helps us tap into our ability to understand the difference between needs and desires through independent thinking and self-awareness. A creative mind helps prevent us from getting stuck in life. It helps us move forward and find new meaning and importance in our daily struggles.
7. Balance
“The best and safest thing is to keep a balance in your life, acknowledge the great powers around us and in us. If you can do that, and live that way, you are really a wise man.” - Euripides
The happiest and most successful people usually lead well-balanced lives. They take time for their families and fun times and celebrate the whole of their lives, not just parts of it. A holistic approach to tax and financial planning works because, without balance life can seem empty and unrewarding. The most successful people in this world are well rounded people that find happiness and joy in various aspects of their life experiences.
It is no small coincidence that the seventh trait of successful people is balance. This fits perfectly with the Seven Goal Areas of Life Planning. The elimination of debt and creation of wealth is a meaningless endeavor if you lack balance in your life. Strive for balance in your life as you continue on the path to financial freedom. Focus on other goal areas such as family, physical health, spiritual, career, social, and intellectual pursuits.
8. Persistence
“Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all.” - Dale Carnegie
“When you come to the end of your rope, tie a knot and hang on.” - Franklin D. Roosevelt
Be persistent in the right areas. Financial planning behaviors must occur on a regular basis for them to become habits. Perseverance leads to prosperity. Never give up on your quest for tax and financial freedom. Most people with significant debt succumb to the urge to give up before they really even start the debt resolution process. Make a commitment to yourself and your family to be persistent with your financial life plan and always stay focused on your long-term goals no matter how hard the journey may be.
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