For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink, I was a stranger and you invited me in,I needed clothes and you clothed me, I was sick and you looked after me, I was in prison and you came to visit me.....'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.' Matthew 25:35-36; 40 (NIV)
Today I would like you to think about your motivation for wealth creation. Why do you want to have money. The verse above is one of my reasons why. The others I can think about at this moment are;
1) I love my freedom, I don't want to live my life stuck in a job I don't like just because I am tied to a salary
2)I want to pick my kids from school and bring them home. I want to see them on weekdays and weekends
3) I really, really want to make a difference in the lives of children especially in the area of education. I want to sponsor more children, I don't want to start an orphanage or an NGO, I think we have a lot of 'organisations', I believe in joining forces with those already on ground and on the field to make a difference. I would also like to support missionaries who have answered a higher call and forsaken all for the sake of Christ
4) I would like my grandchildren to be proud that I was their grandmother not necessarily because I left them tons of cash but if I can learn how to create wealth then I can teach it as well.
5)Before I start sounding like a Mother Theresa, I would like to say I like good things, I want to travel, I want to live comfortably not excessively but luxurious comfort
Your reason why keeps you on track, when you say NO to a pair of shoes so that you can invest in your ISA or buy some stock/shares or save towards a down payment on your first rental property. I want to go further and get what I call 'the picture of my future', snapshots that represent my why. This is an individual and personal thing, everyone has their own reason why so think about it and make a note of it.
Stay motivated!
Update: To take these thoughts even further, we need to reflect on what we are doing at this present time to make a difference. Yes, things might be tight but if it's difficult to give £1 it will be difficult to give £1,000,000. I would like to encourage us to find ways to be a blessing NOW in light of what we still hope to do.
Remain blessed and highly favoured.
Showing posts with label Goal setting. Show all posts
Showing posts with label Goal setting. Show all posts
8 Sept 2009
16 Jun 2009
Financial goals 2009
Hi everyone,
This blog has really been neglected. I'm updating with my financial goals for this year, no use talking about things I'm not doing, I really need to get focused. Something else I realised about plans is that they direct your actions, it's funny how my thinking about money has changed these days. I'm finding it easier to channel my limited resources into different areas so that my money is working for me and it's thanks to the plans that I have.
£5 can be £5 in your wallet, £5 in an ISA tax-free interest account, £5 towards paying off debt, £5 towards my shoes, £5 for investment in shares or something else. Make your money count, make your money work for you.
Increase my financial knowledge
Read at least 8 financial books this year covering investment in shares/real estate and starting your own business
Write a post on this blog about what I learnt from these books and at least 1 or 2 things I will either start, stop or continue doing as a result of what I have read
Attend at least 2 financial seminars on real estate investment in the UK
Prepare my financial statement including income statement and balance sheet
Start a new stream
Research and pray about different options available to me
Divert at least £60 a month from ISA into RW
Get out of 'bad' debt
Determine how much I am owing and consolidate into one account
Divert 'excess' into AB and give card to Y.A
Pay at least £100 each month towards offsetting the amount
Make the most of my ISA
Set up direct debit for £x per month from salary account to ISA
Divert at least half of this amount into investments
Open KK account
Open KK account in 2 geographical locations
Research on options
Giving
Pay my tithe (10%) and offering faitfully from every paycheck and profit
Continue to support D.A through World Vision
Support another ministry outside KICC at least twice this year
Well, this is a very skeletal plan, I aim to refine it as I go along, rephrasing and also adding the time at which the goals should be accomplished by. I've already done some of the things on the list but I know I definitely still have a lot more to do. So what's stopping you? Get to writing. You haven't defined your dream, vision or goal until you've WRITTEN IT DOWN. Next step, 5 year financial vision!
Stay focused!
This blog has really been neglected. I'm updating with my financial goals for this year, no use talking about things I'm not doing, I really need to get focused. Something else I realised about plans is that they direct your actions, it's funny how my thinking about money has changed these days. I'm finding it easier to channel my limited resources into different areas so that my money is working for me and it's thanks to the plans that I have.
£5 can be £5 in your wallet, £5 in an ISA tax-free interest account, £5 towards paying off debt, £5 towards my shoes, £5 for investment in shares or something else. Make your money count, make your money work for you.
Increase my financial knowledge
Read at least 8 financial books this year covering investment in shares/real estate and starting your own business
Write a post on this blog about what I learnt from these books and at least 1 or 2 things I will either start, stop or continue doing as a result of what I have read
Attend at least 2 financial seminars on real estate investment in the UK
Prepare my financial statement including income statement and balance sheet
Start a new stream
Research and pray about different options available to me
Divert at least £60 a month from ISA into RW
Get out of 'bad' debt
Determine how much I am owing and consolidate into one account
Divert 'excess' into AB and give card to Y.A
Pay at least £100 each month towards offsetting the amount
Make the most of my ISA
Set up direct debit for £x per month from salary account to ISA
Divert at least half of this amount into investments
Open KK account
Open KK account in 2 geographical locations
Research on options
Giving
Pay my tithe (10%) and offering faitfully from every paycheck and profit
Continue to support D.A through World Vision
Support another ministry outside KICC at least twice this year
Well, this is a very skeletal plan, I aim to refine it as I go along, rephrasing and also adding the time at which the goals should be accomplished by. I've already done some of the things on the list but I know I definitely still have a lot more to do. So what's stopping you? Get to writing. You haven't defined your dream, vision or goal until you've WRITTEN IT DOWN. Next step, 5 year financial vision!
Stay focused!
28 Apr 2009
Wealth creation: Setting goals
In the previous post, I discussed about having a vision for your finances. I hope you have put this into practice because as my pastor says "you cannot arrive at a destination that you have not defined". If my financial vision gives me an idea of where I want to be, setting goals are the vehicles to take me there.
goal:the result or achievement toward which effort is directed; aim; (Dictionary.com). The definition of a goal carries with it the implication that it's something I think about before I actually achieve it. Getting my finances in order is not going to just happen to me, I need to work towards getting to where I want to be.
Specific
Measurable
Attainable
Realistic
Timely
Financial goals must be specific, If my vision is to save more this financial year, my goals ask the question, how much more? How will I save? My financial vision for 2009 includes getting the maximum amount of money I can into my ISA. If you live in the UK and you don't know what an ISA is well, one of your goals could be to find out what it is lol! That's about £3,600, my goal therefore is to divert £300 per month into my ISA, preferably by Direct Debit as I might not have the discipline to faithfully take it out each month so let the bank work for me a little.
Financial goals should be measurable, setting time dates by which time such and such should have happened will enable you make progress. I'm not so strong on this one but I know I shall get better. My financial vision includes increasing my financial literacy by reading at least two books on finances per quarter, so far I've read half, so I'm lagging behind but I wouldn't know that if I wasn't measuring.
Financial goals should be attainable and realistic. I believe in the area of our finances, our only limit is our financial education. Sorry to say, but I'm tired of an attitude that keeps waiting for someone to show up at the door with £xxx by someone sent by God to bless me, in itself I have no problem with it but why can't I be the someone that will be the blessing as opposed to the one waiting. So while I can say, I would like to save £1,000,000 from my salary it is very unlikely that my job will be paying me that amount any time soon so I set realistic and attainable goals. Setting goals and attaining them gives me strength to keep on pressing forward. I believe in a God of miracles who can open the windows of heaven and pour out a blessing, pressed down, shaken together and running over but into what container will he put it? Are you ready to receive the blessing that He wants to give you? When Jesus was in Peter's boat, there was so much fish that the net began to break, to me that means if he had a bigger net, he would have more fish so he couldn't receive beyond his capacity.
Financial goals should be timely, this is closely linked to measurable in that setting specific times by which you would have achieved the goals that have been set. I will need to review my vision and goals by the end of the month to see where I'm succeeding and where I'm lagging behind. Remember to review your goals regularly. This is usually where I have a problem, I write things down but do not take time to review and ask myself how I'm doing on the journey, sometimes some goals may need to be changed, scrapped or stretched but you'll never know if you don't review them.
In one of the earlier posts on this blog, I discussed about the motivation we each have for creating wealth. This is very important because this is what will keep us focused. I need money to do a lot of things, believe me even if you're going to be a missionary, your ability to go depends on someone giving the money that will support you while you are there. In these days when we realise that a 'credit crunch' is not actually a type of cereal, it is even more important to remain keyed in to why and how important it is as people (more especially as women..) to have our finances in order.
So what are your financial goals? Do you believe in setting goals specifically for your finances? Please leave a comment. My financial goals for 2009 should be appearing in the side bar soon.
Remain blessed and highly favoured.
goal:the result or achievement toward which effort is directed; aim; (Dictionary.com). The definition of a goal carries with it the implication that it's something I think about before I actually achieve it. Getting my finances in order is not going to just happen to me, I need to work towards getting to where I want to be.
Specific
Measurable
Attainable
Realistic
Timely
Financial goals must be specific, If my vision is to save more this financial year, my goals ask the question, how much more? How will I save? My financial vision for 2009 includes getting the maximum amount of money I can into my ISA. If you live in the UK and you don't know what an ISA is well, one of your goals could be to find out what it is lol! That's about £3,600, my goal therefore is to divert £300 per month into my ISA, preferably by Direct Debit as I might not have the discipline to faithfully take it out each month so let the bank work for me a little.
Financial goals should be measurable, setting time dates by which time such and such should have happened will enable you make progress. I'm not so strong on this one but I know I shall get better. My financial vision includes increasing my financial literacy by reading at least two books on finances per quarter, so far I've read half, so I'm lagging behind but I wouldn't know that if I wasn't measuring.
Financial goals should be attainable and realistic. I believe in the area of our finances, our only limit is our financial education. Sorry to say, but I'm tired of an attitude that keeps waiting for someone to show up at the door with £xxx by someone sent by God to bless me, in itself I have no problem with it but why can't I be the someone that will be the blessing as opposed to the one waiting. So while I can say, I would like to save £1,000,000 from my salary it is very unlikely that my job will be paying me that amount any time soon so I set realistic and attainable goals. Setting goals and attaining them gives me strength to keep on pressing forward. I believe in a God of miracles who can open the windows of heaven and pour out a blessing, pressed down, shaken together and running over but into what container will he put it? Are you ready to receive the blessing that He wants to give you? When Jesus was in Peter's boat, there was so much fish that the net began to break, to me that means if he had a bigger net, he would have more fish so he couldn't receive beyond his capacity.
Financial goals should be timely, this is closely linked to measurable in that setting specific times by which you would have achieved the goals that have been set. I will need to review my vision and goals by the end of the month to see where I'm succeeding and where I'm lagging behind. Remember to review your goals regularly. This is usually where I have a problem, I write things down but do not take time to review and ask myself how I'm doing on the journey, sometimes some goals may need to be changed, scrapped or stretched but you'll never know if you don't review them.
In one of the earlier posts on this blog, I discussed about the motivation we each have for creating wealth. This is very important because this is what will keep us focused. I need money to do a lot of things, believe me even if you're going to be a missionary, your ability to go depends on someone giving the money that will support you while you are there. In these days when we realise that a 'credit crunch' is not actually a type of cereal, it is even more important to remain keyed in to why and how important it is as people (more especially as women..) to have our finances in order.
So what are your financial goals? Do you believe in setting goals specifically for your finances? Please leave a comment. My financial goals for 2009 should be appearing in the side bar soon.
Remain blessed and highly favoured.
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