This is the # 1 barrier to building wealth.
đĄ Q: How successful would you be at building wealth if you only did the things that you think you should do?
A: The answer is very. You would be very successful if you only took the action that you knew you should do.
Most people arenât getting the success they want to, not because they donât know what to do; itâs because they canât get themselves to take action on it. Why canât they take the action? Itâs because of this thing called procrastination.
Procrastination is your #1 barrier to building wealth
If you want to remove the procrastination you have to remove the block sitting between now and everything you would like. And thatâs what we are going to cover now. So, procrastination.. not directly to do with building wealth a lot of people might think but actually, it is very directly associated with building wealth. This could be the biggest thing thatâs holding you back. Not for lack of knowledge but procrastination causes your lack of energy and inspiration to do something.
So, if you want to know how to stop the procrastination it could be because youâre procrastinating right now. I definitely know what thatâs like when you should be doing real work, setting up your automatic savings account, but first youâve got to take a nap, or clean something or have a snack.
Q: Why do people procrastinate?
A: If you are procrastinating about doing anything, itâs not because youâre lazy. Thinking that will only create another problem that you have to overcome. The reason we procrastinate is because human beings are programmed to take the path of least resistance. This forms our greatest barrier to building wealth.
Our brains assess what is less painful, and more pleasurable and then we find the easier way out. And now you may be thinking âOh, this is too much to digest, Iâd rather just Iâd rather just be doing something else or skimming through this information or turning to Facebook and scrolling your feed. Anything you perceive as difficult you will naturally shy away from.
For example, it may be more painful to set up your savings account and pay yourself first, can you put it in the too hard basket because itâs more pleasurable to check Instagram, to go out and buy a depreciating consumable and procrastinate.
đĄ Q: So why is it that we procrastinate?
A: Itâs a survival mechanism. A survival mechanism built into us to conserve energy. Itâs our power saving mode. So, we only do something we have to. The problem though in the survival mode it only helps us in the short term, but not in the long term. Thatâs because most things worth achieving; like building wealth, learning a new skill and saving to invest requires a long-term focus.
There are many possible solutions to stopping procrastination for a long-term wealth building solution. Iâd prefer long term solutions internally aligned with our highest values and inner vision. Nothing is terribly difficult if you break it down into small pieces. That way you are breaking down the biggest barrier to building wealth.
Think about eating an ice cream. Have you ever procrastinated about eating ice cream? What about Google? Do you procrastinate when googling something you really want?
No.
The reason why you procrastinate is you perceive something to be difficult. So, you take the easier option. Consequently, raising your barrier to building wealth. As humans we operate on our perceptions. So how can we take this and overcome procrastination?
If you perceive something is too difficult, you havenât broken it down into enough pieces. You will have overwhelm, procrastination or resistance.
Step 1. You want to break your task down into small pieces (Whatever are you perceiving to be difficult right now?)
Step 2. Break into even smaller pieces if it still seems too hard
Step 3. Do the first easy step.
These steps are all the same for whatever you want to achieve. Including building wealth. Increase gradually and persistently. Make tasks easy, one step at a time. Always asking yourself how can I break this down to easier steps?
đ° Once you get the hang of this, your barrier to building wealth crumbles and youâll find yourself in far less procrastination and what that means is, you will break your tasks into small pieces and start asking yourself “How can I break this task into even smaller steps to make it easier?” Once you get the hang of it, your results will occur more effortlessly and youâll achieve more; in one week, one year, one lifetime, than what most people would ever dream of. The barriers to building wealth will be gone.
đ In terms of action steps right now, what I would advise is think of something that you regularly procrastinate. It could be saving money to buy appreciating assets for building wealth, something to do with your business or your marketing, getting up in the morning, exercise, whatever that is for you.
Bring that to mind right now. Something you regularly procrastinate. The reason why Iâd like you to bring something up that you regularly procrastinate is because if we figure out the small steps, the baby steps to make this effortless, it will pay off, not just once, but payoff regularly because itâs a recurring action. So, bring that to mind, just start off with one thing and ask yourself, “How can I add little baby steps in between. How can I make this easier?” That is the formula for your success. Hopefully for you it will be building wealth đ
Q: So, where to from here?
A: The next time you feel you want to put something off, just remember ânothing is terribly difficult when you break it into small piecesâ and start asking yourself how can I break this task into the smallest steps to make it easier?
Once you get the hang of this it will become a habit and youâll actually find yourself procrastinating far less frequently or youâll end it all together. What that means for you now is your results will occur more effortlessly.
đȘđ» If your finances are paying you to live, then you have financial certainty.
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Arthur Panagis
Author, Founder, Wealth Coach and Financial Strategist
B.Bus (Accountant)
Grad Dip (Financial Planning)
Professional Certificate in Self Managed Super Funds
ASX Listed Equities Accreditation
Tax (financial) Advisor
đ You can find out how to start paying yourself first here and start busting down those barriers to building your wealth.
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Disclaimer: This article is factual information only. It is not intended to imply any recommendation about any financial product(s) or to constitute tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future. For information about a loan that may be suitable for you, call us on 7111 0022.
This article is prepared based on general information. It does not take into account individual financial objectives or needs and is not financial product advice.
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