Ten Motivational Tips To Achieve Your Personal Finance Objectives

Today I present a guest post from The Rat (@EndingRatRace), fellow Yakezie member and author of Ending the Rat Race.This is someone to listen to, because he has done it. The Rat retired in his early 30’s after a successful business career and intelligently investing.  This is the first in a series of articles that will be posted on the Rat’s blog. Please stop by to check out Ending The Rat Race and subscribe to his RSS feed for the remainder of his articles.

RatWhat is it that allows investors to achieve their financial objectives? Is it one or two specific things, such as having intricate knowledge of the markets or simply possessing untiring patience as it relates to the timing of one’s investment decisions?

Or, is it instead a culmination of a number of factors that all play a vital role in ensuring an investor’s success over time while pursuing their goals?

Well, one thing’s for sure, I can’t speak for everyone in terms of what has worked for them with respect to attaining their objectives; however, I can certainly share what has worked for me and countless other people that I have read stories about over the past years.

This article was featured in The Carnival of Personal Finance hosted by Four-Pillars.com. Link back to see many other great articles on personal finance.

My viewpoint is that in order for an individual to remain focused and consistent as it relates to achieving their respective personal financial objectives, motivation is of paramount importance.

Eliminate The Muda! and Ending The Rat Race have joined forces to bring to you a series about motivation and how it can make the difference in achieving your objectives.

Without motivation, a person can get to the point where just getting out of bed feels like a challenge, let alone honing their skills and efforts towards retiring. So, how do we stay motivated?

The following list marks the beginning of this series, and the threads that will follow will discuss each of the individual tips in further detail. I’m thrilled at the fact that Eliminate The Muda! has decided to kick off the series on this site.  Today, we will begin by discussing tip #10 and work our way back to the first one as the series progresses and concludes at Ending The Rat Race.

This list is what I regard to be ten motivational tips that not only challenges the typical investor on a consistent basis, but also acts as a continuous circle, each being rated equal in terms of importance, and each equally impacting success.

You will probably be surprised to notice that some of the tips brought forth have absolutely nothing to do with personal finance; however, they can be considered to be crucial in order for you to be successful in achieving your objectives in the long-term.

Ten Motivational Tips To Achieve Your Personal Finance Objectives:

1. Determining Your Asset Allocation

2. Tracking Your Investments

3. Eating Healthy

4. Exercising Regularly

5.  Splurging From Time to Time

6. Living A Frugal Lifestyle And Vacationing Responsibly

7. Spending Time With Loved Ones

8. Getting Rays

9. Treating Others The Way You Would Like To Be Treated

10. Reading, Reading, Reading

As we know how this series will unfold, we shall begin discussing Tip #10.

Reading, Reading, Reading:

When you’re not tracking your investments or doing other pertinent things that relate to your job and other priorities, take the time to read up on personal finance subjects.

The more you read, the more you will learn. Check out your local bookstores for some of the new personal finance releases or simply read the business section in the daily newspaper.

There’s also a wealth of great information in the personal finance blogosphere, such as this site. As a blogger myself, I still haven’t been able to visit all the great sites that are out there in cyberspace. What’s good to know is that there’s always a constant stream of new content being published – so get acquainted. You’d be surprised as to what you can learn from other peoples’ experiences; motivate yourself to broaden your horizons.

Readers, if you were to think of other motivational tips for the average investor trying to achieving his or her objectives, what would they be?

The remainder of this series and the discussion of the other 9 Motivational Tips can be found at Ending The Rat Race!

[Image Source: http://www.sxc.hu/photo/122910]

23 comments to Ten Motivational Tips To Achieve Your Personal Finance Objectives

  • kt

    i think that you should have put the last pointer about reading as the first because from my opinion it is the most important when it comes to investing and finance. in the investment circles, they have a term for it, it is called due diligence and this is endorsed by most value investors

  • I love the reading suggestion. I would agree with kt, it could easily be first. It doesn’t really matter what the subject is, I think reading is really the key growing and improving in that area.
    .-= Derek @ ChristianCommonCents´s last blog ..Quick and Easy Way to Simplify Your Budget =-.

  • I love your tips! They’re very realistic. If it weren’t for reading, how would we stumble across such wonderful blogs. 🙂
    .-= Budget Gal Angie´s last blog ..Living On A Student Budget =-.

  • @kt: You’re absolutely right in that it could easily have made the top of the list. I think if one doesn’t take the time to read up as it relates to investing their own hard-earned dollars, it’s hard sometimes hard to get the result you’re looking for.

    @Derek: You highlight an important point; regardless of what one’s interests are in life, reading can only enhance and allow for growth and improvement over time.

    @Budget Gal Angie: Thanks for the props! Stay tuned for the remainder of the series. 🙂

    Thanks to all for commenting and a genuine thank you is in order for Eliminate The Muda! in allowing for me to do a guest post. Greatly appreciated.
    .-= The Rat´s last blog ..Ten Motivational Tips To Achieve Your Personal Finance Objectives =-.

  • A helpful motivational tip that works for me is to remember why you made the financial goal in the first place. Is it so you can be free to go to your kid’s soccer games on weekday afternoons? Do you want to travel the world? Do you want to work from home? When we get so focused on the money aspect, we lose sight of the real reason of why that is our personal finance objective.
    .-= Kristine´s last blog ..Lost Opportunity Cost – The Wealth Killer =-.

  • Nice post. I agree that reading up on PF is really really important as well. I have three PF books I need to return from the library, and three new ones I need to check out!

  • Eliminate the Muda & Ending the Rat Race joining forces? This is going to be good…

    Education is paramount. Education is achieved through many different means – observing, doing, listening, teaching, and READING to name a few.

    There was a PBS series “You are what you eat”. The same applies to reading. There’s actually a danger in only reading books by ONE author or only listening to ONE radio/tv station. Your views become biased, and eventually “You are what you READ”.

    The act of reading itself is crucial to success, but so is the variety. If you think of fishing, its the difference between casting a wide net versus trolling for a certain species. You’re going to reap more rewards by broadening your horizons.

  • Splurging from time to time can work, but I’d suggest you plan your splurging in advance.

    This way you benefit from the kick of the occasional big purchase, and you also benefit from weeks or months of anticipation.

    Spontaneous splurging isn’t such good value for money. 🙂
    .-= Monevator´s last blog ..Personal time management for fun and profit =-.

  • I like your tips.
    About splurging, I don’t totally agree with Monevator.
    I did that, and the pleasure that came out was not as good as planned. There’s a thing when you plan out too much, you miss out on the pleasure of surprise and spontaneity. You can’t plan “fun” really 🙂

    These days I just set a range of amount for fun and let destiny take its course.
    .-= Bytta @151 Days Off´s last blog ..Day 25: Being 37 is Sexy =-.

  • Very cool Rat! I didn’t realize you are actually retired in your 30’s! I will have to check out your story in more detail!

    I plan to finish up by 45 myself and do something completely different. That said, it’s currently pretty fun to work and blog at the same time. I can’t obsess about my site simply b/c I have no time!

    Best

    Sam
    .-= Financial Samurai´s last blog ..The Mental To Physical Connection For A Healthier Lifestyle =-.

  • The LeanLifeCoach

    Rat -Thanks for a great post. I will be one of many following up to see the rest of the series at your site!

    @Krisine – Freedom to choose is a biggie, I can’t wait! and I will not forget!

    @MFO – It’s only just begun, so many books so little time. Gotta love Half.com!

    @FinEngr – This is one of the things I like so much about blogs, so many different perspectives.

    @Monevator – Personally I think anticipation is overrated. But given the choice of keeping my cash and splurging, I’ll take the cash.

    @151 – Always a free spirit, it must be the water in Australia!

    @Samurai-san – We may not know the real you but it appears that you are quite committed to your goals and your blog. You not obsess, I don’t think so!

  • @Kristine: I think you highlight a very important point in that in the broad scheme of things in life, it’s really family and friends that mean so much. As they say, it’s not where you are or what you’re doing, it’s who you’re with that counts.

    @MFO: There are so many great PF books out there, but don’t you love it when you find one that just hits home more so than the rest of them? The library’s a good idea; I’m always on the hunt for inexpensive ways to get my hands on some great reads.

    @FinEngr: Couldn’t agree more. I recall first entering the workforce and underestimating the power of listening. After a while, I found myself observing and listening to well-experienced people and doing less talking, and I think doing so can make a world of a difference. Whether you’re a CEO of a company or a hands-on laborer, I think everyone has a crucial role in society and there’s always something to learn from everybody.

    @Monevator & Bytta: I tend to splurge within moderation when at home; while on vacation, I try to keep it within acceptable levels and not let it get out of hand.

    @FS: Really? You commented on my thread mentioning revamped website and rat news, when I commented about leaving the workforce…maybe you were under the hypnotic spell of the rat logo 🙂 45 is a solid target, you’ll surely get there. If your blog is a testament to your general approach to things, you’ll do fantastic.

    @LLC: Thanks for having me guest post; greatly appreciated. Your idea for a series really opened my eyes on how presenting something in a different light can yield very different results.

    @ALL: Thanks for the comments! The third post of the series will run tomorrow.

    Cheers
    .-= The Rat´s last blog ..Ten Motivational Tips To Achieve Your Personal Finance Objectives =-.

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