financial fitness in five workouts

8/14/2019 Financial Fitness in Five Workouts

1/20

THE FINANCIAL D.I.V.AS

IN FIVE WORKOUTS

FINANCIALFITNESS

ACCA, Bsc Appl.Acc. (Hons)

PRINCIPLES TOBOOST YOURFINANCES

D-Determined&Daring I-Inspired&Intelligent V -Vibrant&Victorious A -Authentic, Action-orientatated African!

8/14/2019 Financial Fitness in Five Workouts

2/20

C O N T E N T S

8/14/2019 Financial Fitness in Five Workouts

3/20

CONTENTS

5

666

888

101010111111

12131313131313

14

15

1616161717

17

19

20

INTRODUCTION TO FINANCIAL FITNESS

WHY WORKOUTS?Belief sys temsBreaking f ree

WORKOUT 1 : SAVINGSFive benef i ts o f sav ingTen quick t ips for saving

WORKOUT 2 : FINANCIAL EDUCATIONAssetLiab i l i tyGood debtBad debtCashf low

WORKOUT 3 : SERVICEWhat serv ice do you have to offer?Eshabl ish a needValue yourselfResearchDo what you loveGive

WORKOUT 4 : LEVERAGE

Tips on how you can apply leverageWORKOUT 5 : JUST DO IT!Begin with the end in mind?Take a before picture!Create an act ion p lanJus t do i t !

GRATITUDE

RESOURCES AND RECOMMENDED READING

ABOUT THE AUTHOR F I

N A N C I A

L F I T N E S S I N F I V E

W O R K O U T S

C o p y r i g

h t

2

0 0 9 L e

l e m

b e

P h i r i

8/14/2019 Financial Fitness in Five Workouts

4/20

Its not how much money youmake, but how much o it you

keep and how it works or youthat matters! ROBERT KIYOSAKI

I N T R O D U C T I O N

8/14/2019 Financial Fitness in Five Workouts

5/20

INTRODUCTIONKnowing the rules o money and playing the game to win!

A couple o years ago, my husband Sandras and I played Cash ow 101 board game, created by renowned fnancial guru Robert Kiyosaki, or thefrst time. I observed as he panicked and semi-hyperventilated about whatto do with the bunch o ake money that he had in his hands. At that timehe would not be bothered about looking at the amily fnances in too muchdetail saying my wi e is the accountant so she takes care o that. This wasnot because he didnt know the rules o money. He knew them well. Heis an avid reader as I am and is blessed with the uncanny ability to makemoney. He was, however, also blessed with the uncanny ability to spendmost o it!

In the 18 months that ollowed, he started to take a closer look at the

amily fnances, setting fnancial goals and applying the principles he hadlearnt through research to our personal fnances. The more he did it, themore com ortable he got.

Later during one o my Financial Fitness Boot Camps, I asked theparticipants to share what they elt the term fnancial ftness meant. Therewas an array o answers. Sandras was in attendance and his responsewas Financial ftness is knowing the rules o money and using them. Itis like playing in a soccer game. I knowing the rules was all there was

to it, then re erees would make the best players in the world but thatsnot the case. It is the player that knows the rules, plays the game andgets better at it every time through practice and application. I wasimpressed. He now sounded like a seasoned fnancial guru!

In this e-book I will share fve fnancial ftness principles that will boostyour fnances. These are age old principles that have worked or manypeople throughout time. They have also worked or my clients and me.In addition, I will share some simple yet e ective ways in which you canapply them to become fnancially ftter! Cash ow 100 is an educational board game aimed at teaching the players investing

F I N A N C I A

L F I T N E S S I N F I V E

W O R K O U T S

C o p y r i g

h t

2

0 0 9 L e

l e m

b e

P h i r i

8/14/2019 Financial Fitness in Five Workouts

6/20

I N T R O D U C T I O N

WHY WORKOUTS?Belie systems

Theres a direct correlation betweenwhere we are in our li e fnancially and ourrelationship with money. This relationshipdevelops over years and is in uenced byseveral things including our belie system.

This belie system is created and rein orcedby a repetition o patterns that we may havebeen deliberately taught or that we pickedup along the way. Either way, we adopt thisbelie system as our own at our levels.These are mental, emotional, spiritualand physical. This belie system becomesingrained in our subconscious mind. Thesubconscious mind dictates the bulk o ouractions. Those actions rein orce the beliesystem and the cycle continues.

To create and rein orce a belie systeme ectively, we there ore need to incorporateworkouts or practical steps in addition tosimply talking about it.

I you are not entirely happy with whereyour li e is fnancially, it could be time

to examine your belie system. In orderto e ectively create and rein orce anempowering belie system that will boostyour fnances, you will need some practicalaction points.

Breaking reeSuze Orman says choosing wealth as a

goal requires acing everything about yourmoney bravely, honestly and with courage,which is a very hard thing or most o us to

do. But it can be done.You can create an empowering beliesystem by:

Identi ying your limiting belie s aboutmoney.You can identi y your limiting belie s byanswering the ollowing questions:

What do you think about money?Do you think that money is evil?Do you think that money is in limitedsupply?Do you think that it takes money to makemoney?

These are some o the limiting belie sthat may be holding you back rom gettingahead fnancially. For example i you thinkand believe that money is evil, thenyou probably get rid o it very quickly byspending it or giving it away. Examine yourthoughts about money and identi y yourown limiting belie s.

What do you say to yoursel and othersabout money?

Do you say things like:Money does not grow on trees.Money is hard to come by.Money is the root o all evil.?

These are limiting belie s. What you say isdetermined by what you think. There oreexamining what you say to yoursel andothers helps you to determine your belie s.

What do you do with your money?When you get money:

8/14/2019 Financial Fitness in Five Workouts

7/20

8/14/2019 Financial Fitness in Five Workouts

8/20

WORKOUT 1: SAVINGSThe oundation or creating wealth

What an emotional subject money is!Marriages have been broken becauseo it. Friendships have perished, healththreatened, lives lost you name it.Emotions air up all over the place because

o money!Warren Bu et says until you canmanage your emotions, dont expect to beable to manage money. Oh boy! How canone manage their emotions around moneybetter and what can they do to stabilizetheir emotions?

One way is by saving money. Saving ispaying yoursel frst and is the oundationor creating wealth. When Nobsie attendedmy boot camp, she exclaimed Oh! Ithought paying yoursel frst meant going ona shopping spree to spoil yoursel ! I haveound that many people share that view.Paying yoursel frst is prioritizing savingmoney or you. It is a declaration that youvalue yoursel . It is also a declaration that

you value money and deserve to have it.Money ows more to people that can put itto good use.

Five benefts o savingStabilizes emotions: When you have anice com ortable stash o money sittingsomewhere, you are less agitated over

unexpected expensesInvesting: Savings are a great source ofnancing or investing. Great deals are

available in abundance. Having unds toinvest a ords you the opportunity to takeadvantage o them.Boosts confdence: People withoutsavings are more likely to get swindledout o even the little that they have.This is because they tend to be moredesperate and look or quick fxes.

Gives independence: Many peoplehave stayed in abusive relationships orendured abusive bosses because theyneeded the fnancial stability that camewith the package. Having savings allowsone the option to leave.Rainy day: Yes. In the event that thereever was a rainy day, you would havesomething to all back on.I am certain you can come up withmore reasons why saving would beneftyou personally. Dr John Demartiniemphasizes paying yoursel frst. Hesays Priorities are important. Spendingmoney wisely means spending itaccording to priority o all the thingsyou pay, ultimately yoursel carries the

highest penalty i le t unpaid the worldre ects you and until you are willing toinvest in you, dont expect others to.The good news is that saving is easyonce you create a habit o it. Have youbeen postponing saving or an ideal timeand place? Are you waiting till you havemore money, no debt, more support rom

your partner, more knowledge, more?

Ten quick tips or saving!

W O R K O U T 1 :

S A V I N G S

8/14/2019 Financial Fitness in Five Workouts

9/20

Decide on a percentage o your grossincome to start saving. I recommend notless than 10%, however even 1% is betterthan nothing. A percentage rather than anabsolute amount is ideal because whenyour income increases, so do your savings!What we are trying to establish is a patternor repetition so dont get hang up on the

amount.Open a separate savings account andinitiate a debit order to move the savingsamount rom your cheque account intoyour savings account. Omar Periu callsit the FAST method (Forced AutomatedSavings Technique).Include the savings amount into yourbudget as the top most priority expenseas you would do or things such as rentand celebrate each time it goes o youraccount.Increase your savings amount by 10%every three months as recommended byDr John Demartinis Accelerated method.For example, i you started with savingR100, increase it by 10% in the third

month and save R110 and so on. In twoyears you would have approximatelydoubled your initial savings amount.Eat be ore you go shopping, says LindaSmith, creator o the Abundance diary.Shopping on an empty stomach leads toimpulse buying. Use a grocery shoppinglist, she adds.

Use a pre-determined cash amountor your day-to-day expenses or eachweek. This is recommended by Camilla

Hazell-Harradine o You Unlimited. Thatway when her allocation or the week isspent, she does not compromise andbreak her budget.Have a piggy bank. Sisanda, a riend omine, keeps all her change in a big bowlon her kitchen counter. She carries it tothe bank, once ull and deposits it intoher savings account.Check your bank statements or bankcharges and any interest debited andask your bank how you can reduce orfx them to a limit i you are paying toomuch.Carry packed lunch. I realized thatbuying sandwiches rom the nearbyca or break ast cost me R25 to R50

per day, depending on my pre erences.However carrying cereal rom homecost me R25 to R50 per week! It was ahealthier option and I saved the balance.Save the otherwise sunk costs. Supposeyou planned to spend R200 on drinksor the weekend. But your riend invitedyou or a house warming party. You only

spend R80. Save the R120 balance asit would have gone out o your pocketsanyway.

Until you can manageyour emotions, dont expect to be able to manage money. WARREN BUFFET

F I N A N C I A

L F I T N E S S I N F I V E

W O R K O U T S

C o p y r i g

h t

2

0 0 9 L e

l e m

b e

P h i r i

8/14/2019 Financial Fitness in Five Workouts

10/20

WORKOUT 2: FINANCIALEDUCATIONAn essential building block or wealth

I remember the very frst time I tried todrive. I was 16. I thought I understood allthe instructions my riend gave me. Be oreI realized what was happening, he wasrantically yelling or me to hit the brakes.Somehow I managed to stop within twocentimetres o a huge ditch. And instead odriving orward I had driven in reverse! Wewere both so scared that we barely spokeon the way back home. In that moment Ibelieved I would never try to drive again!

Repetition has a way o makingsomething completely new eel com ortablea ter a ew tries. In my fnancial ftness bootcamps there are 3 key words that I ask theparticipants to repeat with me at intervals.We make a nice ceremony o it. So westop what we are doing, stand up with fstspunching into high heaven and we shout,Education! Education! Education!

Financial education is an essential

building block or wealth. This is not limitedto ormal education such as universitydegrees, as important as that may be.I mean making a deliberate e ort tocontinuously increase your fnancialknowledge. Knowledge is potential power.It only becomes power when applied toachieve a goal. Knowledge increases sel

confdence and reduces ear. Fear stopsmany people rom taking action towardstheir goals. Napoleon Hill says where

ear controls, noteworthy accomplishmentbecomes an impossibility.

Let us now explore some fnancial jargon,their defnitions and how you can applythem to boost your fnances. Prepare tomake a ceremony o it. Stand up, stretchyour arms, punch your fsts into the air andshout Education! Education! Education!

hree ways to manage your cash ow better:

10

W O R K O U T 2 :

F I N A N C I A L E D U C A T I O N

ASSET

D E F IN IT IO N Any i tem of economic valueowned by an individual orcorporat ion, especial ly that whichcould be converted to cash. investorwords.com

APPLICATION Your l iabi l i t ies create expenses.For example your phone contractis a l iabi l i ty that creates aphone bi l l expense. Manageyour expenses by keeping yourl iabi l i t ies to a minimum. Asthe wikt ionary s ta tes , they arehandicaps that hold you back.

LIABILITY

D E F IN IT IO N Indebtedness: an obl igat ion topay money to another par ty WORDNET, PRINCETONA handicap that holds one back

THE WIKTIONARYAnything that takes money out of

your pocket ROBERT KIYOSAKI

8/14/2019 Financial Fitness in Five Workouts

11/20

Three ways to manage your cash ow

better:

Know how, when and where your cashneeds will occurKnow the best sources to cover themand any additional surprise cash needsthat may occurBe prepared to meet your cash needs by

proper planning and maintaining goodrelationships with your bankers, creditorsand debtors.

1.

2.

3.

11

F I N A N C I A

L F I T N E S S I N F I V E

W O R K O U T S

C o p y r i g

h t

2

0 0 9 L e

l e m

b e

P h i r i

APPLICATION Your l iabi l i t ies create expenses.For example your phone contractis a l iabi l i ty that creates aphone bi l l expense. Manageyour expenses by keeping yourl iabi l i t ies to a minimum. Asthe wikt ionary s ta tes , they arehandicaps that hold you back.

GOOD DEBT

D E F IN IT IO N Debt that puts money back intoyour pocket . I t is therefore anasset .

An example is a bond that youget to buy investment propertythat commands enough rentals tocover and exceed your monthlyrepayment amount .

APPLICATION Get into good debt but only i fyou have an exact and detai ledplan on how to use i t . Good debtis leverage that when properly

managed wil l take you towardsyour f inancial goals quicker. Thisis because i t usual ly takes lesst ime to borrow for invest ing thanit does to save the equivalentamount .

BAD DEBT

D E F IN IT IO N Debt that takes money out of yourpocket . I t is therefore a l iabi l i ty.

An example is a c lothing account .

APPLICATION GET RID OF IT!

CASH FLOW

D E F IN IT IO N

The f low of cash in and out ofyour pocket LELEMBA PHIRIThe excess of cash revenuesover cash outlays WORDN ET,PRINCETON

APPLICATION Cashflow can make or break your

f inancial house and has to beplanned carefully. This is becauseif a t some point the cash-f lowingout of your pocket exceeded thecash-f lowing into i t and yourl iabi l i t ies fe l l due, you may needto sel l off some business orpersonal assets to cover them.

8/14/2019 Financial Fitness in Five Workouts

12/20

Continue to expand your fnancialknowledge by exploring the various mediathat are available to you. You can chooseto learn through printed or audio books,seminars, classes, videos or Internet or acombination o all or any o them dependingon availability.

There is also the un option o learningthrough games. I love it because it givesyou a chance to put into practice what youhave learnt in a no pressure environment.This builds your confdence or the timewhen you will actually get to take your nextstep in investing.

WORKOUT 3: SERVICEThe willingness to aquire wealth

Our older son Mwenda usually comeshome with various undraising proposalsrom school. Some are entrepreneurial

whilst others are or charity causes. Oneday he came home with an entrepreneurialrequest called the money tree. It wasa picture o a tree and in the brancheswere circles big enough to ft coins. In thisproposal their school had tasked the kidsto do several chores around the house andneighbourhood and get paid or it.

When he arrived home he was veryexcited about the idea o working ormoney and exclaimed mummy, what

can I do or you so that you can pay meor my project? I was already impressed.He was establishing my need. I elt thiswas a brilliant opportunity to rein orcethe connection between valuable serviceand remuneration and replied what doyou have to o er me? He quickly lookedaround and said I can pack the shoes in

your wardrobe neatly.I asked him how much he wanted orthat and he said I dont know anything.Now I was getting even more excited. Herewas another opportunity to teach him thathe determines the price o his service. SoI replied Ill give you R1. I could see theimmediate disappointment on his ace. Themoney tree was worth R25 and he wasbeing o ered R1! He grumbled Only? towhich I replied Yep! Since you dont knowhow much your own work is worth, I say itsworth R1.

He objected on how much work he wasgoing to have to do and I was glad to in ormhim that that was indeed what he shouldhave thought about be ore letting me, his

customer, decide what to pay him. Helearnt that lesson quickly and a ter a ewaveragely remunerated jobs he fnally hitgold.

He asked mummy, are you tired? Iwas. Id had a long day and had my eet upin bed. He had been observing me. I saidyes. I guessed he was onto something

rom the big grin he had on his ace. Hethen asked the magic question Can Imassage your eet? I burst out laughing as

1

W O R K O U T 3 :

S E R V I C E

8/14/2019 Financial Fitness in Five Workouts

13/20

I asked how much? I am a big sucker ora oot massage and he knows that. Su fceit to say that a great percentage o thatmoney tree was flled up by that 15 minuteoot massage.

What service do you have to o er?We all have some service we can give

the world. The question is whether weare willing to do so or not. What servicedo you have to o er? What product,service, passion, talent, skill or idea areyou willing to give? Mwenda was willingto serve in several ways to achieve hisgoal o flling up his money tree. Thegreater the willingness and capacity toserve, the greater the ability to makemoney. Awaken your mind to how youcan serve and there will be no shortageo money. How can you do that?Establish a need. By asking what canI do or you? Mwenda was establishingwhether I had any needs. Ask peoplewhat they need and see whether you canulfl it.

Value yoursel . Mwenda received R1or doing a R4 job because he couldntdetermine his own price. People willvalue you to the degree that you valueyoursel . Determine your rate. Amongstother things, ask yoursel what eels rightto you. Not too high that you walk awayeeling you ripped someone o and not

too low that you eel ripped o . I youcant get to something com ortable thenwrite down, as many reasons as you

can, why you deserve to receive moneyor your service. By the time you aredone, you will have a air idea o whatyour service is worth.Research. Sometimes establishinga need is not as clear cut as askingpeople what they need. In that caseyou will need to do some research. By

observing my state o tiredness, Mwendaestablished the need that I would valuethe most. And he was spot on.Do what you love. People who lovewhat they do and are grate ul or it aremore inspired and enthusiastic and givebetter service. That grin on Mwendasace did hal the job o convincing me tohappily part with my money.What do you love? Explore yourloves and serve by doing them. You areauthentic when you do what you love. Asa result you are more likely to succeedand serve longer doing what you love.Dr John Demartini says the ountain oyouth is ound in authenticity. I agree!Give. Weve all heard the adage the

more you give the more you receive. It isthe law o compensation. Emerson saysIt is one o the beauti ul compensationso this li e that no man can sincerely tryto help another without helping himsel Serve and thou shall be served.

My colleague Nikki Botha wrote a

brilliant article on giving entitled Ten way tomake a di erence without inconveniencingyour li e. I will share an abbreviated version

1

F I N A N C I A

L F I T N E S S I N F I V E

W O R K O U T S

C o p y r i g

h t

2

0 0 9 L e

l e m

b e

P h i r i

8/14/2019 Financial Fitness in Five Workouts

14/20

o my top fve avourites:Smile at someone, pre erably somerandom stranger.Write kind and encouraging words onpost-it notes and stick them on thedesks/monitors o your colleaguesPay it orward. I someone doessomething nice or you return the

gesture to someone other than the giver.Be Santa. Around Christmas time, posto fces are inundated with letters toSanta or God. Ask your local post o fceor some o the letters and answer them.Thank those with a thankless job. I youhave an early morning run at a mall thatemploys security guards, buy them a cupo co ee. They have an important role toplay in society, yet very ew o us think toappreciate them.

WORKOUT 4: LEVERAGEGetting multiple output or every input to create wealth aster

My riend Laureen is very passionate aboutA rica and its development. For a whileshe had a dream to bring together a groupo young in uential A rican pro essionalswho shared her passion, to e ect positiveand sustainable change one communityat a time. In April 2009 she discussed it

with her riend Helen who encouraged herto go or it. Laureen created a PowerPointpresentation with her vision, plan and a call

to action and sent it to her riends, askingthem to orward it on to others as well. Theresponse was huge! Three months, and aew meetings later, the frst two chapters oOrganizing or A rica (O.F.A) were born inCape Town and Johannesburg.

In the three months o activity, the CapeTown chapter o O.F.A recorded impressive

results. These included donating over100 books to a school and creating somesustainable solutions or a childrens home.

Do you think that Laureen could havebeen able to do all that on her own in thatperiod? It is highly unlikely. She used theprinciple o leverage to get her dream goingand achieve results quicker.

Archimedes said, Give me a lever longenough and a ulcrum on which to standand I shall move the earth.

One o the defnitions or the wordleverage is strategic/positional advantage;power to act e ectively. Part o thisstrategic advantage is being able to useOPE (other peoples everything) to achieveyour goals. Using OPE multiplies and

magnifes your own e orts and helps youto achieve your goals quicker by ensuringmultiple output or every input. OPEincludes other peoples money, skills, time,contacts, ideas and any other resource youcan think o .

Just as leverage is a key ingredientin achieving goals it is also essential in

creating wealth.This means in order to create wealth, onehas to take their unique value or service

1

W O R K O U T 4 :

S A V I N G S

8/14/2019 Financial Fitness in Five Workouts

15/20

and leverage it. It also means that oneslevel o wealth is dependent upon theirvalue and how well they can leverage it.

Bill Gates created wealth by taking

his unique value i.e. Microso t windowsand leveraging it by distributing it onother peoples hardware and distributionnetworks. Warren Bu et did the same inhis initial stock market trading investmentpartnership. He took his value which washis knowledge o the stock market andleveraged it using unds put up by hispartners (other peoples money) to createa very success ul und.

Tips on how to you can apply leverageForm a mastermind group. NapoleonHill describes a mastermind as a mindthat grows out o the blending in per ectharmony o two or more minds. Get agroup o like-minded people together

and meet periodically to share ideasand brainstorm more e ective ways toachieve your fnancial goals. Creatingwealth is a team sport and having such agroup encourages accountability to oneanother as well as support.Get into good debt. It is usually quickerto borrow rom the bank than to save the

equivalent amount. However ensure thatthe debt is good right rom the start.Buy in bulk. Most suppliers give a

discount or bulk purchases. I thediscount is not automatically o ered, askor it.Have a website. It is your 24/7marketing and advertising tool. It canalso sell or you even when you areasleep.Attend networking events and create

relationships. Besides advertising yourservice, these events give you accessto other peoples contacts that couldbecome your network o distributors andservice providers.Delegate. Concentrate on yourstrengths and delegate the rest toleverage o other peoples time.Buy where you are paid to shop.Take advantage o loyalty programs toleverage your money and make use oother peoples systems.Read books. Make use o otherpeoples experiences and knowledge tohelp you get ahead quicker and avoidunnecessary trial and error.Advertise. Use all the media you can

think o such as magazines, socialnetworking websites, business cards andbill boards to magni y your brand. Peopleneed to know you exist frst in order tobuy your product or service.Take advantage o the tax system.Educate yoursel about tax or use atax consultant and avoid paying more

tax than is necessary. Tax rules di erdepending on who or what is beingtaxed. Be tax e fcient.

ROGER HAMI LTONS WEA LTHEQUATION EXPLAINS IT AS FOLLOWS:

wealth = value x leverage

1

F I N A N C I A

L F I T N E S S I N F I V E

W O R K O U T S

C o p y r i g

h t

2

0 0 9 L e

l e m

b e

P h i r i

8/14/2019 Financial Fitness in Five Workouts

16/20

WORKOUT 5: JUST DO IT!Begin with the end in mind

When asked by the attendants o my bootcamp how do I get started on my fnancialftness journey? My answer is always,begin with the end in mind.

What do you want to achieve fnancially?

Is it to invest in property or shares? Startyour own business? Send your kids to abetter school? Take your amily on holidaywithout digging yoursel deeper into debt?Or is it simply to buy a car that starts in themorning?

Carl Sandburg says nothing happensbut frst a dream and one o my mentors

ollows that with a goal is a dream with adeadline!Set some fnancial goals. Write them

down and make them SMART. SMARTis an acronym or Specifc, Measurable,Achievable, Relevant and Timebound.

For example simply stating that youwant to save is not a SMART goal. Statingon the other hand that you want To saveR4,000 or a deposit at XYZ gym byDecember 2009, is SMART!

Take a BEFORE picture! Yes! Just asyou take a be ore picture at the start oa diet, you also need to take a fnancialpicture o where you are right now!

Nothing happens but frst adream. CARL SANDBURG1

W O R K O U T 5 :

J U S T D O I T !

THIS IS YOUR PERSONALBALANCE SHEET

D E F IN IT IO N A balance sheet is a snapshotof your assets and l iabi l i t ies a t apart icular t ime.

What do I own r ight now?

What do I owe r ight now?

THIS IS YOUR PERSONALINCOME STATEMENT

D E F IN IT IO N

An income sta tement is a recordof your income and expenses overa period of t ime.

What do I earn per month?What do I spend per month?

THIS IS YOUR PERSONAL INVEST-IN-SELF POLICY

D E F IN IT IO N

Invest ing is put t ing money intoan enterprise with an expectat ionof profi t .An Investment pol icy is a deta i led

descript ion of how this invest ingwil l be executed.

What do I save each month?

8/14/2019 Financial Fitness in Five Workouts

17/20

Create an action planStart flling in the blanks between whereyou are and where you want to be bycreating an action plan. You can create anaction plan by asking yoursel these keyquestions. I will use the gym deposit goalabove as an example.

Why do I want this? Give the reasons behind your goal. Doyou want to want to start gym becauseeveryone else is going or is it becauseyou truly value your health? Unlessthe reasons are compelling, you areunlikely to carry through with it. Make aconnection between what you want and

what is important to you and you will bemore likely to ollow through.What am I willing to do to get what Iwant?What am I willing to do di erently? Willyou go to the bank and authorize a debitorder or an automated savings plan?Will you rather keep the savings in your

wardrobe just in case you need it orsomething else?How do I intend to do this?

Determine how much you would need tosave, per week or month, between nowand December in order to meet yourgoal.How will I celebrate?A reward is a great motivator soplan how you will reward yoursel orachieving your goal.

Just do it! Dreaming, goal setting, planning andaccumulating knowledge are greator getting you inspired, motivated,organized and confdent! However theyare preparatory steps or the real dealwhich is taking action. Give yourselpermission! Do it! Start now!Take the frst step. Stick to it persistently. Push boundariesand com ort zones. Monitor yoursteps. Are you on track? Review them.Continue. Repeat process. Be ore youknow it, you will be there!

GraditudeCelebrate the journey by remembering to

be grate ul through it. Beginnings may behumble but do not begrudge them. You mayail but take it in your stride and learn romit. Failure is just a eedback mechanismto see how seriously you want something.Remember that those who are grate ul willget more to be grate ul or. Give thanks ineverything.

I wish you the very best in your fnancialftness journey!

1

F I N A N C I A

L F I T N E S S I N F I V E

W O R K O U T S

C o p y r i g

h t

2

0 0 9 L e

l e m

b e

P h i r i

THIS IS YOUR PERSONAL INVEST-IN-OTHERS POLICY

What do I g ive away eachmonth?

8/14/2019 Financial Fitness in Five Workouts

18/20

1

R E S O U R C

E S A N D R E C O M M E N D E D R E A D

I N G

8/14/2019 Financial Fitness in Five Workouts

19/20

1

F I N A N C I A

L F I T N E S S I N F I V E

W O R K S H O P S

RESOURCES AND RECOMMENDED READING

AUTHOR

DR JOHN DEMARTINI

ROBERT KIYOSAKI

SUZY GREAVES

RALPH W EMERSON

NAPOLEON HILL

ROGER HAMILTON

SUZE DR ORMAN

BOOK

How to make one hel l o f a prof i tand s t i l l get to heaven

Rich Dad, Poor Dad, Guide to inves t ing

Making the b ig leap

Compensat ion

Laws of success

Your legacy, your l ife

Woman and money

8/14/2019 Financial Fitness in Five Workouts

20/20