People often equate wealth to intelligence. While it seems that the correlation may be high, that just isn’t so. Earning wealth and gaining financial freedom is as simple as making a sandwich. If you follow these four steps, you will be well on your way to being a single parent that is financially stable and living a debt free life.
Step 1 – Be focused.
In order to gain financial freedom, you must be focused. In order to be focused, you must have goals. Once you have goals, you need a plan to achieve them. By having a goal and a plan to achieve it, you are setting yourself up for success since you will be focused on reaching that goal. Its like a trip. If you get in a car in search of your dream vacation, you’ll fail. How will you know if you’re headed in the right direction, or if you’ll even reach that destination if you haven’t detailed what it is you’re trying to do? Have a goal, make a plan, stay focused. Its that simple when building wealth and eliminating debt.
Step 2 – Be Determined.
Determination is the quality single parents need if they want to overcome many obstacles, including financial ones. Challenges will come, that’s guaranteed. But in order to take control of their finances, single parents must be determined not to let unexpected expenses, debt, stress, and a helpless attitude lead them down the road to debt, or keep them there. Being determined helps with focus and both of these qualities have more to do with behavior than intelligence.
Step 3 – Be intentional.
Intent is having a purpose for doing something. It covers being resolved, committed, and “set on” whatever it is you want to do. Being intentional requires putting the focus of a plan, the determination of a marathon runner, and the purpose of a dedicated individual together in order to power your way to success. Having intent means that you will think before making that impulse buy and leave it in the store, instead of indulging. Being intentional means being deliberate, planned, and making decisions based on the sole purpose of achieving your goal. Again, none of this requires an Einstein intellect, rather, the patience of Ghandi.
Step 4 – Be Ambitious.
Ambition is the trait of being determined, motivated, striving, and a “go getter.” Sometimes the word gets a bad rap, especially when associated with people being ruthless, but being ambitious when it comes to getting one’s financial house in order is necessary in order to break the chains of debt. Ambitious people dream big and let nothing get in the way of their goals. There is a healthy balance in being ambitious that is necessary in order to obtain financial freedom. Its in all of us and can be cultivated by following the first three suggestions.
Focused.Determined.Intentional.Ambitious. Those are the qualities that it takes to be successful and get rich. Single parents are in the best position to take control of their finances since they are the only one in the driver’s seat. While having a second income may have its perks, following the four steps above will get anyone in the right position to take control of their money and financial destiny. So what are you waiting for? Get started now!
What qualities do you think are necessary to be rich? Please share in the comments below and join our Facebook group, SingleParent$aves, to be part of a community of savers like yourself.
Happy saving, live well!