How many of you focus on your liabilities instead of your assets? Think about this for a moment and consider how this thinking affects your life. As a coach, I am trained to coach to people’s strengths or assets rather than their weaknesses or liabilities. With that said, I am reminded of one of my favorite truths…“what you focus on grows”. And it’s this very concept that can easily apply to our finances, which is the subject of this article.
The idea is that if you want your money to grow, then you need to bring your awareness to that by focusing on your assets and building on them. Think about your assets and engage them as you practice ways to expand them. It’s also important to look at your liabilities and see how they can be eliminated or minimized. However, at the same time it is important to let go of your need to stay focused on your debt. Unfortunately, most people think about their credit card debt and the many bills they have to pay each month – but why be preoccupied with these thoughts? Doing so will only keep you stuck in a place of lack and negativity. And coming from that negative place will make it difficult to grow your money.
Additionally, when our emotions are involved, we don’t always make sound decisions about money. This is compounded by the fact that we live in a society that is primarily focused on consumerism, which persuades us to spend money. This message plays on our emotions by teaching us to spend in order to feel good. And since we all want to feel good, we listen. But in the end, this affects our money and our assets since we wind up spending rather than growing our money. The key, however, is to remember that we always have a choice in the matter.
Now let’s get back to assets. We all love assets. Assets feel good, secure, powerful and abundant – and they can multiply! When you invest your money properly you build up your assets. This leads me to the next question: How many of you actually do invest your money? Some of you may feel that investing is complicated, but it doesn’t have to be. In fact, for the most part I really believe that the apprehension we feel around this topic relates to our fear of the unknown. But investing doesn’t have to be scary or necessarily difficult as long as you educate yourself and explore your options. And in terms of your investment options, I will leave that to the financial experts.
To sum it up…keep the focus on your assets and remember to think rather than feel when it comes to money. By using a logical mind more than emotions when dealing with material possessions and money, you will be better equipped and more in control of your finances. Hence, you will manage your money rather than letting it manage you…now that’s empowerment.
Think about the following questions:
1. What can you do this week to grow your money?
2. How much money are you willing to invest this week?
3. How can you decrease just one liability?
Ask yourself, which column do you want to grow? And just like the game monopoly, remember to have fun!