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Clarify your priorities

Forget keeping up with your friends, or meeting your mother’s expectations. This is your life and to get the most out of it, you need to live it on your terms. Don’t spend money on things to make other people happy / jealous / love you. Don’t give up your morning coffee (especially if you’re a tea drinker) because that’s what the finance gurus say. Figure out what you need in your life and what you can do without to start living in your means. It’s easier to cope with challenges and make sacrifices if you know and believe in the purpose.

Tune into your thoughts

We’re all thinking something, all of the time. Especially when trying to meditate (even the Dalai Lama…allegedly). Tune into those thoughts and see how they guide you in making money decisions. Why do you spend what you do? Why do you save what you save? How do you feel about asking for a raise? How do you feel about being wealthy?

Develop positive money habits

Habits are the cornerstone of our lives. They determine how we look, how we feel, relationships and our financial situation. Lasting change doesn’t occur through a single transformation, it’s the product of habits. Develop better money habits and you will be able to change your life.

Think like the wealthy

We rarely think about the way we think about something, so your beliefs about money are probably one of the things that you’ve never questioned. They were picked up from your parents, shaped by your friends and family as well as society and advertising and now you probably assume they’re normal. Unless of course your romantic partner has a totally different view. The reality is there are many different ways to think about money and the wealthy tend to think differently to most. Develop a wealthy mindset and see where it takes you.

Rich is a state of mind

The trouble with the word “rich” is there’s no clear definition. Rich isn’t quantified in the dictionary, it’s defined by wishy washy terms such as ‘a great deal’, ‘plentiful’ and ‘abundant’. It’s a term that can’t be defined because being rich is relative and ultimately it’s just a feeling that isn’t actually determined by your net worth. Right at this moment you can’t change how much you have, but you can reframe your situation. You can feel rich.

Enjoy life now

The secret to enjoying life isn’t spending more money or being debt free. Having enough money to meet your needs is important to happiness, but you are the one who determines if you’re enjoying life. Don’t put it off to some future time. They say that the best things in life are free and this is true if you can appreciate them.

Do what works (for you)

There’s no ‘right’ way to pay down debt, spend less than you earn and build savings. The right system is the one that works for you; that you can incorporate in your current life. Count every penny if you wish, or go budget less if you can, but don’t get hung up in finding the magic tool or system that will change your financial life.  Figure out what works for you and believe that it’s not you that has to fit into the system, it’s the system that needs to be a fit for you.

Take action

Actions can be tiny, in fact they should be as small as is necessary so that you do them. Without action, you don’t get anywhere. Actually, you go backwards. Take action today so that in a years’ time you don’t think, I wish I started this a year ago, imagine how far I could have got by now.