In 2011 while still working full-time on my job, I wrote down my goal to create 3 income streams earning at least $100/month. One of those is by selling an e-book I wrote, which earned $100 in a week on the side. My real-estate investment partnership gave me $300/month passive income. My other business, which included building a sales team and earning US dollar commissions from the sales of me and my team, earned for me $600 in a week that led me to finally quitting my job in that same year.
Before I continue, here is a disclaimer. I wish I could say it was easy peasy. You just set your goals, and everything’s going to come to you. Of course, nothing works unless you do. You have to be prepared to work hard, go through sleepless nights, emotional roller coaster of rejections after rejections followed by small triumphs. You ask yourself whether it is even worth it and whether you’re insane for going through all this. But you push through and finally have some semblance of success manifests for you. Only to go through the same roller coaster again the next day, and the next day, and the next day. And you wonder whether it is ever going to end. In the end, you console yourself by saying to yourself — “That’s what makes life so exciting! You never know what comes next! Haha! :)”
Over the past 11 years, I’ve been creating my financial goals for the year. Most of the time, I don’t hit it within the timeframe that I’ve said I would. But after a couple of months or years, the goal is eventually achieved.
For most of us, new year brings in a brand new chance to start over and make new year’s resolution. You want to lose weight, so you sign up to the gym, or promise yourself that it will be the last time you’re eating “that” cake during the New Year’s day celebrations. With much motivation, the first day of the year comes. You hit the ground running. But often after a week or two, that motivation fades away. And you are left waiting for another new year to make another new year’s resolution.
So while making new year’s resolution is great for motivation, it is hard to keep it up. It is hard to make a change. Whether it be in dieting or budgeting, wishing and making it happen are totally different things. You know all the right answers and you have all the “you shoulds” You should…stick to your plan; make sacrifices; have disciple. You blame yourself for not having all those things. You get depressed and don’t know what to do.
But what if I tell you, you can turn things around. And use your body’s natural ways to finally create something more lasting.
Have you read the book, Atomic Habits by James Clear? It’s a good book. My business mentor lent me the book a couple of years ago. The book tells about the power of having atomic (as in tiny or small) habits. In my years dealing with money, I realized one fundamental truth and that is our habits dictate the money that we have, whether we will keep it or not, and for how many generations it will grow. That’s the reason why I titled my blog, Rich Money Habits, because I know building those habits is the key to the lifelong financial wealth that we all desire.
One quote from the book says, “You do not rise to the level of your goals. You fall to the level of your systems.” So while creating goals is an important step, the more important step you should ask yourself is whether you have systems in place that will help you achieve those goals.
In the case of personal goals like losing weight, paying off debts, saving for an emergency fund, or growing your business or side hustle, what’s important to ask is your own personal habits. Do you have systems in place so you will know right away what to do with your salary or profits when you receive them? Do you have a system for preparing your food, exercise and sleep? Do you have a system to pay off your debts? Do you have a system to grow your business?
When the systems are in place, the results are almost guaranteed. It is just a matter of time. So while a couple of weeks have already passed since the start of the year and Omicron has sabotaged all our best laid plans, perhaps you can use this time to revisit and create your own systems, so you can finally achieve your goals this year 2022.
What system can you start creating today?