Welcome to Finance and Fury, I’m Louis. Today, I want to talk about overcoming fears and focusing on your purpose and making a plan to become self-reliant – fears of the virus, or government responses and losing jobs - and instead focusing on what can get you through hard times – purpose and relationships – focusing on the positives
There is a lot of fear going around – it a massive distraction and disruption to almost everyone’s lives –
People are losing jobs – losing an income and being out of work is very stressful Governments are taking more control – population is becoming reliant on governments Central banks taking further control over financial markets – QE, money printing and funding the government deficit spending General panic hoarding goods and people turning on their fellow humans – as they are competition or a threat of getting them infected
The constant reporting creates worry – either getting the disease, losing your livelihood, or having to fight others for the precious resource of TP – availability bias – the framing as well – saying the virus is something to worry about – but the Government are the ones implementing these draconian rules – but this is in our best interest of course
And it seems like there is no way around it – governments telling people and business what they can do to the extreme – fining people and businesses for not doing as told – forcing people into shutting their own businesses down or having to be more than 1.5m apart in public – Guess speeding fines weren’t enough – not fining for not socially distancing But what is bad for your health – being in a reactionary state – things happening to you – destroys cells which affect your microbiology Being isolated and not able to go outside and get some Vitamin D – creates a horrible state for humans to live But a very easy environment for Government’s to control – Divide and conquer – Caesar did this to the Gaul’s We are easy prey when isolated – as society has become – with this disease – now people are becoming ever more so
people get sick and die - Fact of life – people die – 210,000 every day –Government has turned this into control Stalin – one death is a tragedy – one million is a statistic – Irony in this statement – for those close to us – it is a tragedy to lose someone – but we all must go through it – but when it comes to Government reports – these deaths are just statistics – and statistics can be manipulated – people dying of heart attacks – but they are added to corona deaths
Made people afraid of numbers – and focusing on the negatives – preying on availability heuristics – but not reporting on other numbers – A recent Johns Hopkins study claims more than 250,000 people in the U.S. die every year from medical errors. Other reports claim the numbers to be as high as 440,000. Medical errors are the third-leading cause of death after heart disease and cancer But there are plenty of good things happening –What to do? Become self-reliant is the only way out – the government controls are ramping up – so have to get outside of this – and reliance – like with Age Pension
Irony in me saying this – to be in my profession I need to be registered and controlled by 5 Government Agencies – ATO, ASIC, AUSTRAC, TPB, AFCA – even with this – focusing on your purpose can help get through their interference and focus on the positives – and make part of your long term purpose to become FI
Purpose – to become financially independent - what does this mean – income self-generated and not relying on the Government – To help work out your Purpose – get the workbooks from FF – in the members section – if in lock down – good chance to complete the workbooks
First step - Take 100% responsibility – Don’t be a victim and let things happen to you - To be successful you need to be 100% responsible for your own life.
How to start taking 100% responsibility: Give up all excuses – have to stop playing the victim - takes a lot of less mental energy by giving excuses up. They don’t matter. Past is the past. all the reason why you can’t and why you haven’t up until now, and all your blaming of outside circumstances. You have to give them all up forever. Change your response to events – try to make this a habit - takes time to change. need to regain control over your mindset which will determine your behaviours in responses to the event. The first question should be “what can be done to get the best outcome?”. Equation: Event + Response = Outcome (Jack Canfield) If you get stuck in a traffic jam - ‘I hate this traffic, this sucks’ or ‘It isn’t a big deal in the grand scheme of things’. One will lead to a better outcome than the other by reducing your anger at the situation. If the traffic was the problem, then everyone would have had the same response, but as you can respond in the way you want, you can get a better outcome. It is important to change your responses if your current ones aren’t getting you the outcomes you are after. If you continue the same behaviour (responses) then you get the same results. This is the process of learning through failure You can’t control the event, but you can control your response which leads to a better outcome. Successful people wouldn’t be where they are if they let their excuses take control Blaming and excuses are a waste of time. It may make you feel better in the short term, but it doesn’t solve the problem and takes away energy. Give up complaining! We are all guilty of complaining, either voicing complaints to others or mumbling them to ourselves. The truth is that we complain about events that we know can yield a better outcome than our current situation. We don’t complain about things that just exist. For instance, we don’t complain about gravity being gravity. To give up complaining, change is needed in your response. We normally don’t though as changing a response can be uncomfortable. People may judge you but who cares? It will take effort but it is worth it! Complaining is pointless in most situations as we normally complain to the wrong people anyway. You will complain about your partner to your friends, about your boss to other employees. We never talk to the person we have the issues with.Overall, taking 100% responsibility makes life simpler. If you accept that you have 100% responsibility, therefore control you can become the master of your own success - the world doesn’t owe you anything, you have to create it!
Once you are there – Figure out what your purpose is – this is the path that will give you guidance
It is important to find your purpose as if you don’t know what you want, it is impossible to get it. ‘what is the meaning of life?’ - is no one overall meaning to life except to exist and eventually die But there is a meaning to your life. You just need to find it and live up to your potential – purpose you need to decide what you want and what is important. You have to Be clear why you are here! Have to look at what you want – not what others want This is a societal norm, which is slowly changing. Most people spend their lives conforming in to societal dreams. Programming in life slowly changes our real purposes to conform to the new social norms. This leads to taking actions in life which will get the approval of others rather than ourselves We are told from childhood the word ‘no’ and ‘don’t do that’. While this was said to help protect us, it has led to crushing dreams. While conformity has been important in evolution (by not sticking out and getting ousted by the tribe), it has lead into conforming to a normal level of life or living someone else’s dreams. This is why you need a reason to get out of bed in the morning which is your purpose. If you have this purpose, something to work for, you will be successful and happier along the way. What is your purpose? – if you don’t know, to figure this out requires a bit of brain storming. need to write some lists of things that are important in your life. Use the workbook: I care about, What I am great at, I love doing – try to write 20 things for each: total of 60 The more the merrier – doesn’t have to be something big, more = more brainstorming beside each one put a plus or minus against it – if you really enjoy or are great at = put a plus against it. something that you just put in there to make up the numbers, put a minus sign against it. From those from each list – select the top 2 with plus signs against them – put them in the below this This will leave you with 6 things in total. You might find that the things you are great at are the things that you love doing, because you care about them! common to see this sort of overlap as generally, if you enjoy doing something, you are normally pretty good at it! This is how you find your purpose in life. It will take some playing around with to get right. Be honest with yourself. example: care: Making a difference in lives, great at: personal finance, I enjoy doing: Teaching It really is that simple and needs to be refined over time, but what is really important is action. Taking action towards your purpose will be the difference between following your purpose versus following someone else’s. We will cover off on the action steps in the next episode.
Once you have your purpose, you need to know what you want out of it: getting the vision right and start achieving it! Time to build a vision of your ideal life - Having a purpose is the reason to get out of bed each day.
Having a vision, allows you to complete a picture of your ideal life. A vision is an ideal picture of how you want your life to look - Your vision should show you where you want to head and provide some motivation and focus to help achieve this. Life happens, there will always be setbacks but the best way of overcoming setbacks is keeping your long-term vision in mind and working towards this. So how do you build your vision? - first step is to make three lists, What I want: This list is for the material things you wish to have in your life. From houses, cars, even owning a business. What I want to be: This list is for the type of person you want to be, from happy and positive to being a leader in your field. What I want to achieve before I die: This list is practically a bucket list where you can think about the things that you want to achieve in life. Under each heading, you need to list 20 things for each one so once you are done you should have 60 in total. hard to come up with 20 things for each, so listing small things or expanding on larger ‘wants’ can help. So instead of just saying ‘I want to be successful’, list out individual items which mean success to you. Once you have a list of 60 things - sort through your lists and placing each in to seven areas of your life. This covers off 7 areas in total. For each one you need to have a clear picture of what each area should look like! Work/career – What are you doing for your career? Is it something that you enjoy? Is it something you can have freedom? Can you make a lot of money from it? Finances – What does your financial situation look like? Are you out of debts? Do you have a portfolio of investments, paying you an income? This is the key to financial independence after all. You need to have enough in finances to give you all the free time in the world to focus on everything else. Free time/Recreation – What do you do in your free time? Are you going on holidays each year? Health/Fitness – What is your ideal fitness? Are you 80 still in great physical and mental health? Relationships – Marriages, kids, parents, everyone etc. Contribution to the world – Do you give back to society? Personal goals – What do you want to do before you die? Can fit into the previous – so merge Remember, that your personal vision is where you want to be – so you need a clear picture on what it looks like, what it feels like, you should almost be able to taste it!
My purpose – help people become financially independent – and through doing this become FI myself
Face your fears and anxieties so they don't become debilitating. Identify ways to create a sense of personal control or mastery in your life. Practice stress reduction techniques, such as mindfulness meditation or get outside and exercise. Shift your focus to the positive emotions in daily lifeGet outside of the Fear – Don’t let Government dictate to you what you should be afraid of – as this is a control mechanism – done a few eps months ago on how trauma is a tool used for population control – search trauma-based society
Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/
