These past few weeks I have really talked about the soft skills of money. It is important to know that the application of knowledge will determine your success. Today, I do want to cover something that you should do. Every once in a while, there are usually a few lotteries that get pretty high. Going back to 2016, the largest jackpot was $1.586 billion! Let me type that out for you so you can see all the zeroes ($1,586,000,000). That is a lot of money! You know how the flow goes. You hear it on the news that the pot is growing and growing until it reaches a ridiculous amount. People pool money together to win. Then the same question is repeated. What would you do with the money? We say we would like to win but are you ready to win?
So, what would you do if you won the lottery? Without any emotional connection to the excitement, write down your wish list. Dream big! Would you buy a house, pay off debt, start a business, travel, buy gifts, or help family members? So now I have follow up question for you. Why do you have to wait to win the lottery to do any of those things? So today’s tip is “Begin with the end in mind”. This is from Stephen Covey’s book The 7 Habits of Highly Effective People. This is a great book to read by the way. Go ahead and start writing down the things you would like to do with your financial freedom. Financial freedom is a destination that does not happen with luck, but with work. When you work, you expect some type of reward. Your reward will be the opportunity to do everything that you have listed. Your application of knowledge will have a purpose. Your actions are helping you to make your dreams a reality.
Latrisa Pugh is the founder of Pugh Financial Coaching (PFC). Equipped with a Masters in Financial Planning, Latrisa tailors programs and delivers personalized instruction on money management to help individuals and families learn to live the best version of their lives. Since 2013 Latrisa has dedicated more than 1200 hours to teaching financial literacy throughout Alabama and internationally. If you would like to set a free 30-minute consultation, visit her website www.pughfc.com to sign-up or call 205-831-0839.