💰What drives you?

Read time: 2 minutes & 34 seconds

👋 Builders and Keepers, welcome to our first article!

If you want to achieve financial freedom, it's important to discover your true motivations for building wealth.

Unfortunately, many people struggle to discover why they want to grow their wealth, which can lead to a lack of direction and focus when it comes to managing their finances.

Lack of Self-Awareness

One primary reason people struggle to discover their true motivations for building wealth is a lack of self-awareness. Without a clear understanding of your values, goals, and priorities, it can be challenging to stay motivated and focused on your financial goals.

Other Reasons Why:

• Fear of failure or making mistakes

• Lack of financial knowledge or resources

• Feeling overwhelmed or stressed about money

• Not making finances a priority in their lives

Despite these challenges, it's possible to overcome them and discover your true motivations for building wealth.

Here's how, step by step:

Step 1: Identify Your Core Values

What is most important to you in life? Is it family, security, independence, happiness, or something else? Write down your top three to five core values.

One of my most important core values is Knowledge. This is why I always spend on books, mentorships and seminars or webinars for me to keep learning new things and building new skills.

If you’re not sure what your top core values are, here’s a tip: ask yourself “Why?” 3 to 5 times.

Core Value: Knowledge

• Why is knowledge important to me?: I want to keep learning.

• Why do I want to keep learning?: Because I don’t want to be taken advantage of by sleazy salespeople and scammers ever again.

• Why don’t I want to be taken advantage of by sleazy salespeople and scammers ever again?: Because I lost so much money for being ignorant about investing.

Doing this exercise has always helped me find the main core of my motives and intentions.

By clearly identifying your core values, you’ll also be able to know what true wealth means to you.

Step 2: Define Your Financial Goals

The next step is to define your financial goals. Set clear, specific, and measurable goals that align with your values. Avoid making vague goals such as "save more money." Instead, make specific goals such as "save 6,000 AED for an emergency fund by December 31, 2023."

One common mistake people make is setting goals that are too broad or unrealistic. For example, if you currently earn 60,000 AED a year, setting a goal to become a millionaire in the next five years is likely not feasible. Be realistic and set goals that are challenging but achievable.

Step 3: Assess Your Current Financial Situation

Take a look at your current financial situation and evaluate your income, expenses, debt, and savings. This will help you understand where you are starting from and what steps you need to take to reach your financial goals.

Step 4: Connect Your Goals to Your Core Values

With a clear understanding of your financial situation and goals, connect them to your core values. Ask yourself, “How will achieving these goals help me live a life that aligns with my values?”

Step 5: Take Action

The best way to learn about your true motivations is through application. Allocate a budget and for the next 30 days, start spending on things that only align to your core values and goals.

• How did it feel?

• What challenges have you faced?

• How did your peers/family members react?

It will be challenging at first because you’ll start to say no to things and activities that no longer bring meaning to you.

By following these steps, you can discover your true motivations for building wealth and take concrete steps towards achieving your financial goals. Remember, the key is to stay focused, disciplined, and motivated. With the right mindset, guidance, and tools, financial freedom is within reach.

See you again next week!

Ready to grow your value so you can build your wealth?

Whenever you’re ready, here are two ways I can help you:

• 1-on-1 Personalized Coaching: A three-session coaching program where we’ll discuss your financial goals, build your own money management system, improve your money habits and guide you on how to invest on your own.

• Group Coaching: Four live 60-minute zoom calls that will guide the students on the step-by-step guide to improve their finances.

Learn more by scheduling a 30-minute discovery call here.