• The other day I was driving to do some errands with my 8 year old daughter and she commented on some really nice cars ­ I first thought “wow she has good taste” and then she said “mom, when I am old enough to drive you are going to buy me that right?” and I thought, where do kids get their needs and wants from? And are we shaping their needs and wants?  I explained that when she was old enough she was going to get a J.O.B. and earn what she wanted to have and not be given what she wanted.  She did not like that one bit, which inspired me to write this post.

    What if anything are we teaching our children about wealth creation, about needs vs. wants and how to attain those needs rather than wants?

    Creating the Life

    Once I started to decipher between needs and wants and how to survive in this advertisement and technology rich world, I started to put some wealth creation strategies into place, that greatly increased my financial life, while decreasing my need for “things”.

    Just because I could afford them now, did not mean that I needed to have them and that is the lesson I want to teach my daughter as she continues to grow in the world we are living in today.   In my opinion, we as a society live above our means just to have “things” and it does not always satisfy our inner needs.

    So here are a few tips that might help you as well:

     

    Tip #1: Don’t let Money be your only motivator

    Years ago, I was working “for the man” in a corporate job after having taken one my first breaks from the film world (I got burned out after working steady 18 hour days).  I hated the corporate world and felt like a drone and even though the money was good, I was miserable and it invaded everything in my life ­ I realized that sitting behind a desk and taking orders from somebody who was not adequately trained to be in their position or doing the same boring thing day after day was not for me.  At first I stayed in this job because the money was motivating me to stay.  I knew that I would never advance ­ not because I was not good at the job or because I was not educated enough but simply because I did not care to advance.  Once that sunk in, I quit and returned to the film world and even though I doubled my hours I was once again happy.

    Being happy in what you do, will always bring the money because when you are motivated by happiness and you are enjoying what you do, the money becomes secondary and you start to focus on achieving your dreams.  Eventually leaving film became a need too, because again the money was good but I was not happy trying to live life while working long hard days.  Working in film, allowed me to embark on my new career in real estate ­ first through home staging and now through investing and mortgages.

    To be truly motivated is to push through the inevitable challenges you need to get clear on the real reason you’re doing what you’re doing. Don¹t set yourself up for failure by using money as a motivator ­ because you will never achieve your goals that way.

     

    Tip #2: Remember you don’t always have to be right!

    I remember when I was younger and I think it was due to the fact that I was always told “what to do” and never asked “what I wanted to do”, that I would reject everything that I was told to do ­ even in my job.  I always thought I knew what the better way was and always argued thinking I was right ­ well suffice it to say, that I never was!  I alienated a lot of people and did not realize it at the time.  One day my boss took me aside and explained to me that what I was doing was ruining my chances for advancement and also ruining my relationships ­ it was a rude awakening but I thank that boss of mine to this day.

    Since than, if I am paying money to learn something or if I am learning from somebody that has become an expert in their field, I now do as they say and practice what they preach and I have reduced the effort put forth, while doubling on the experience gained.  It allowed me to quit my J.O.B. and venture on my own and now I am a happy self-employed person who loves dealing with and learning from a variety of people.

     

    Tip #3: Success and Failure are all Relative

    You are never going to be a success nor will you ever be a failure. You will succeed at some of the things you try just as you will likely fail at some of the things you try.  Every experience, whether you fail or succeed will teach you something ­ learn from it and grow!

     

    Tip #4: Return vs. Risk

    Where there is a return there is a risk. You MUST look at what you have to spend in terms of time, energy, and money AND what you are risking to get the return for it to make sense. In Real Estate investing this becomes more true, but it can be related to any industry.

     

    Tip #5: Stop Comparing Yourself to Others!

    We all look at our neighbors and friends and wonder “how did they get that far?” or “Why is that not me?”  Stop comparing yourself to others ­ where you are now is where you are supposed to be!

    We all want to be ahead in our lives but that is not how the world works! Perhaps, like me you had to quit university to take care of an ailing parent or you became ill and could not continue on the path you had originally chosen. Life happens and you need to make the best of it ­ by comparing yourself to others, you never live life but rather you strive to live life.  What is the difference?   When you live the life you are destined to live because things in life happened out of your control, you get much further than striving to live a life that is not achievable because you cannot stop comparing what you have to what you need? Sound familiar? ­ it is needs vs. wants and this will always come back to bite you in the ass if you let it.  I am not saying that if life gives you lemons make lemonade but if life does give you lemons, don’t cry about it ­ work harder and smarter and overcome your challenges to get the life you want ­ without comparing yourself to others.

    For years, I blamed my parents because I had to quit school and could not be like my friends- partying and experiencing what University had to offer.  I had to work ­ and work I did but now looking back I would not trade that experience, which led me to my film career ­for anything!  Life gave me lemons and I chose to turn those lemons into opportunities and now most of my friends and peers look up to me because I had experiences that they never had ­ it’s all how you look at it right?

     

    Tip #6: Energy and Time Management go hand-in-hand!

    There are days when we don’t have the energy to do anything more than watch TV or surf on facebook, but when this becomes an issue with achieving our goals, we need to take a step back and reassess how we are using our energy vs our time.  I made a huge change in my life a few months ago that not only enhanced my health but also allowed me to expend less energy and efficiently manage my time, which has helped me to achieve my goals.

    What did I do? I made sure to eliminate foods that were affecting my health; I get more sleep, drink more water and make sure to structure my exercise schedule ­ what has it done for me? In the last few months, I bought a real estate property, filled it and also completed my mortgage broker studies. I hope to take my qualification course later this year. I now have more energy, which helps me with time management.  I’ve realized that time is not the issue ­ it’s energy I am surprised at what I can do in two goal-focused hours.

     

    Tip #7: Don¹t strive to be perfect ­ it will hinder you!

    Growing up, I was expected to be perfect at everything I did and it carried on into adulthood ­ it stressed me out and caused me to have sleepless nights.  I would kill myself with self-doubt when I was not perfect and then slowly I realized that my need for self-perfection was slowly killing me, my friendships, relationships and making my life suck! With help, I was able to see that perfection was stopping me from moving forward and that putting my best food forward was “good enough” and that nobody expected me to be perfect ­ it was my hang up!  Today I am able to move forward and do my best, without the need for perfection.

     

    Tip #8: Choose for everyday to be a good day!

    I have come to realize that everything in my life comes down to choices. Often a decision I made caused something to happen to me ­ so I had control over it in the first place. Or, even if it wasn’t my decision, I have a choice as to whether I let it ruin my day or not. I do find it difficult to be happy everyday but now I can choose to remain unhappy and make others around me unhappy or get over it and be happy ­ it’s all about choices.  What’s more, is that when I am happy I draw other happy people to me and vise versa!

    Make a list of your happiest moments ­ most people can’t do this!  It’s hard but it is a great reminder and most probably will give you that aha moment, when you realize that most of these moments did not involve money or wealth or how much or how little you have.  These moments probably revolved around times spent with friends or family; or times challenging yourself and learning something new.  These are the moments that will carry you through when life gets difficult and you need to lift yourself up again!

    The lessons I want to leave my daughter are that wealth is important but it’s not everything.  That she should not get too hung up on it. That she should give herself some room to just enjoy life.

    Yes, when money enters your life, it is easier to enjoy life but when we stop focusing on money, it somehow flows our way anyways, when we put wealth creation principles into practice.

    It’s not that hard to make money. Keeping it, growing it, and using it to it’s fullest potential to create a life you love is the more difficult part. These tips have made a big impact on my life in the last two years in particular. Since leaving my job I’ve experienced bigger challenges in my life than I ever faced before and thus bigger achievements and bigger surprises along the way!  I hope that some or all of these tips will also help you along in your journey to the life you want to create.  I am also hoping with the proper guidance that in time they will help my daughter achieve wealth, while creating the life she wants!