Some downtime, the ability to catch your breath and clear your head. As the page on the calendar is turned over to a New Year, you might take a moment to review these 22 tips for 2022.
1. SET GOALS
A future without goals is an unfulfilled future. Write down a few big-picture goals that you want to accomplish this year, plus some dot-point actions to work your way through.
There is no excuse for not making time for at least 30-minutes 5-days per week. It could be as simple as a walk around your neighbourhood to start your day. Exercise gives you energy, self-esteem and minimises future health problems.
Frequently visualising yourself living and doing the things that you aspire for is a powerful form of affirmation. When done regularly, it builds clarity, focus and confidence.
4. REDUCE THE WASTE
Bite the bullet and cease those impulsive, non-essential purchasing habits. You might be amazed by the overall improvement after a 52-week year.
Aim to direct 20 percent of your salary towards your financial future (savings in an offset account, building up a deposit for an investment property, etc). To illustrate what is possible, here is an example of what a Propertyology client recently purchased with a 10 percent deposit.
It is impossible for one to know what one does not know. Make a conscious effort to become more open-minded. For really important decisions, engage the expertise of someone who does it for a living (don’t be a DIY).
The quality (and quantity) of what you put in your mouth will be reflected in how you perform and feel. Portion control, significantly limit consuming processed foods. Most ‘white’ foods are bad for you (sugar, flour, salt). Staples in my diet include avocado, blueberries, almonds, bananas, salads, salmon, steam vegetables.
8. INTEREST RATES
A responsible household budget always has a 1.5 percent interest rate buffer built in. Often the most effective use of the money surplus to the minimum required repayment is to have it automatically directed to an offset account. Then, with your budget structure in place, ignore any interest rate speculation and pursue your goals with vigour.
Identify tasks that you perform regularly but no longer serve a good purpose. Get rid of them.
Save your time and energy by creating a simple system, designing a template, having someone set up a simple program to automate a task. This may add several extra hours to your week.
Build on the relationships of those most important to you. Contemplate how best to spend more quality time together.
It is physically impossible to manufacture ‘time’. We all have 24-hours in every day – it’s what one does with them that counts.
Even if it is small, make a change to your home that you can appreciate each day. It might be as simple as replacing a couch, painting a room, a major decluttering exercise or some landscaping. In addition to your home looking better, you’ll feel liberated for doing it.
14. HELP OTHERS
How can you give back? It might be one person or several, a work colleague, your local sporting team, a family member.
15. SOCIAL MEDIA
While there are obvious benefits of social media, it can also be toxic. Set a New Year goal for removing unproductive information from your feed and limit how much daily screen time you have.
16. POSITIVE ATTITUDE
Make a list of things you *can* do, then do them. For challenges, seek out guidance from someone with experience in those fields. Practice affirmation.
17. BEWARE THE COMMENTARY
Just because it’s in the media, no matter how often it is said or who says it, does not make it true. Periodically remind yourself what the cast of thousands all said would happen to property markets when COVID started.
18. TAKE RISKS
You either win or you learn. The more you learn, the more you win. It’s the only way to move forward.
19. REDUCE PERSONAL DEBT
A debt for an income-producing asset is a ‘good debt’. Conversely, repayments for credit cards, personal loans and car loans will forever hold you back. Put a program in place to get rid of them.
20. ROLE MODEL
Whether public figures or people you may personally know, one can always learn from others who have good values, strong work ethic, positive attitudes and have already accomplished things that you aspire to achieve. Follow them on social media, subscribe to their blog or podcast.
21. REMOVE EXCUSES
The only way to prove that one *really* wants what one says they want is by prioritising, taking action and making progress. Procrastinators are little more than a pain in the @rse.
Don’t delay, book something right now for the back half of this year. Commit now to an energy boost that will carry you through to the end of this year.
ABOUT THE AUTHOR: Simon Pressley has spent his entire working life in formal roles on both sides of the household balance sheet. 20-years as a credit assessor, commercial lender and mortgage broker afforded him a strong appreciation for the good-and-bad of debt and a solid foundation for his last 15-years as a professional buyer of real estate assets and Australia’s premier property market analyst.
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