”Somebody once told me the definition of hell:
“On your last day on earth, the person you became will meet the person you could have become.” — Anonymous
To become successful and get closer to becoming financially free, we don’t need to add more things — we actually need to give up on some.
There are certain things that apply to all of us, which will make you successful if you give up on them, even though each one of us could have a different definition of financial freedom.
Some may take little time and effort and you can give up on them today. Others might take longer.
I think the most important point to keep in mind is that you haven’t failed to change until you give up trying.
1. Give Up The Short-term Mindset
“A simple fact that is hard to learn is that the time to save money is when you have some.” – Joe Moore
What you spend on a day-to-day basis has a powerful effect on how you will be living 5, 10, and 20 years from now. Realize this and start creating short-term habits that will result in long-term goals.
These successful habits shouldn’t be something you just do; they should be something you embody.
There is a difference between: “Working to make some extra spending cash” and “Working to become financially free.”
2. Give Up On The Unhealthy Lifestyle
“So many people spend their health gaining wealth, and then have to spend their wealth to regain their health.” — A.J. Reb Materi
If you want to achieve success in life, this is where it starts. First you have to take care of your health, and there are only three things you need to keep in mind:
- Physical Health
- Mental Health
- Spiritual Health
There is no one giant step that does it. It’s a lot of little steps.
But one day you’ll be thankful.
3. Give Up Your Excuses
“Empty pockets never held anyone back. Only empty heads and empty hearts can do that.” – Norman Vincent Peale
Successful people know that they are responsible for their finances, no matter their starting net worth, debts, and past failures.
Realizing that you are responsible for what you earn next in your life is both frightening and exciting.
And when you do, that becomes the only way you can become successful, because excuses limit and prevent us from growing financially.
Own your finances; no one else will.
4. Give Up On Playing Small
“You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you.” – Maya Angelou
Big dreams and goals require a big commitment, and they often need you to go all in to have the best chance at success. Decide what you really want out of life and go after it with everything you’ve got.
Speak your ideas into reality, don’t be afraid to fail.
And above all, don’t be afraid to succeed.
5. Give Up Believing In A “Magic Bullet”
“The quickest way to double your money is to fold it in half and put it in your back pocket.” – Will Rogers
Overnight freedom is like catching a unicorn.
Successful people know that making small continual investments each day will be compounded over time, and create financial freedom.
That’s why you should plan for the future, but focus on the day that’s ahead of you.
And grow your wealth every day.
6. Give Up The Fixed Mindset
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas Edison
People with a fixed mindset think their finances are simply fixed too, and that luck alone leads to success — without hard work. They’re wrong.
Financially free people know this. They invest an immense amount of time on a daily basis to develop a growth mindset, acquire new knowledge, learn new skills and change their perception so that it can benefit their lives.
What you have today is not what you have to have tomorrow.
7. Give Up Multi-tasking
“Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.” – James W. Frick
Successful people know how to focus. That’s why they choose one thing and then will it into reality. No matter what it is — a business idea, a financial plan, or an investment.
Being fully present and committed to one task is key.
8. Give Up Your Perfectionism
“When it comes to money, you can’t win. If you focus on making it, you’re materialistic. If you try to but don’t make any, you’re a loser. If you make a lot and keep it, you’re a miser. If you make it and spend it, you’re a spendthrift. If you don’t care about making it, you’re unambitious. If you make a lot and still have it when you die, you’re a fool–for trying to take it with you. The only way to really win with money is to hold it loosely – and be generous with it to accomplish things of value.” – John C. Maxwell
No matter how hard you work, nothing will ever be perfect.
Fear of failure (or even fear of success) often prevents us from taking an action and putting our ideas into motion. But opportunities will be lost if you wait for everything to be right.
So “do something,” and then improve.
9. Give Up On Saying YES To Things That Don’t Support Your Goals
“Money is multiplied in practical value depending on the number of W’s you control in your life: what you do, when you do it, where you do it, and with whom you do it.” – Tim Ferriss
To be financially free, you have to say NO to certain tasks, activities, and demands from friends, family, and colleagues.
In the short-term, you might sacrifice a bit of insta-gratification, but when you reach your financially free goal, it will all be worth it.
10. Give Up Your Need to Control Everything
“The trick is to stop thinking of it as ‘your’ money.” – IRS auditor
Some things are up to us, but most things aren’t.
It’s important to understand the difference.
You can’t control everything that will impact your finances. So detach from the things you cannot control, and focus on the ones you can. And know that sometimes the only thing you’ll be able to control is your attitude.
Remember, freedom is a state of mind!
11. Give Up Your Need To Be Liked
“Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.” – Warren Buffett
Money has a way of separating your real friends and your false friends.
Like oil and water sitting together in a pitcher. Stir them around and they’ll almost seem to mix, but let the pitcher sit still and the oil will begin to separate from the water, making it all too clear that the oil is not the water (and vice versa).
No matter what you do, you won’t be able to make everyone like you.
And that’s cool.
The only thing you can do is remain authentic, improve and provide value every day, and know that more and more “haters” means that you are doing important things.
12. Give Up Your Dependency on Social Media & Television
“I love money. I love everything about it. I bought some pretty good stuff. Got me a $300 pair of socks. Got a fur sink. An electric dog polisher. A gasoline powered turtleneck sweater. And, of course, I bought some dumb stuff, too.” – Steve Martin
Non-stop texting, tweeting, snapping, scrolling and swiping are diseases of today’s society.
These activities should never be an escape from your life or an obstacle to achieving your financial goals.
Why not minimise (or even eliminate) your dependency on them?
Then you can direct that time towards things that will enrich your life.
13. Give Up The Toxic People
“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” – Will Smith
You are the average of the five people you spend the most time with.
There are people who are less accomplished in their personal and financial life, and there are people who are more accomplished than us. If you spend time with people who are behind you, your average will go down, and with it, your success.
But if you spend time with people who are more successful than you, no matter how challenging it might be, you will become more successful.
Take a look at around and see if you need to make any changes.
What have you learned about freedom, goals, and making your money matter? I’d love to hear your own thoughts!
One last thing…
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