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Episode 73: How to Know When You’re Winning With Money; Aug 16, 2011.
Financial Coach Steve Stewart (MoneyPlanSOS.com) joins me today as we talk about how to determine when you’ve finally done it and achieved financial success. It’s a great topic and we had some awesome discussion, both on the show and in the live chat.
Don’t forget: Living In Financial Excellence airs LIVE every Tuesday at 10 a.m. CST. You can watch live and join the chat at financialexcellence.net/live-show
Show notes:
- It’s hard to know when you’ve reached the top if you don’t define what success looks like. Even then, success may be a moving target for you.
- We used the analogy of running a marathon. Success may be just finishing the race, or it may be beating your previous time. It’s hard to accomplish either if you don’t train and condition yourself for the race.
- Net worth plays a part in the process – do you use your net worth as a scorecard to measure your financial success? Is success relative? Is it a defined number?
- Is winning just an attitude instead of a number or defined end state? Steve and I talk about this and much more on the show.
- There’s a difference between financial security and financial freedom. We discuss the two and how they relate to today’s topic.
- The August Financial Excellence Challenge is in full swing. What can you do this month to stimulate your own economy? Work an extra job, do a budget, sell some stuff, invest more for the future? Let us know what steps you’re taking. If we all take care of our individual economies, THE Economy will take care of itself. Read some of the comments on the post to see what other people are doing to stimulate their personal economies.
- You can influence what we talk about in future shows. Simply fill out this three-minute survey.
Like what you hear? Visit the iTunes store and leave a review or leave a comment below. Or call our listener feedback line and leave a voice message that we can share on the air. As always, we appreciate your feedback!
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Matt – I’m so disappointed I missed this live podcast with you and Steve. What a great podcast on “How do you know when you’re winning with money?” As you stated in your podcast with Steve – I think when you accomplish Dave Ramsey’s Baby Step 1 you are on your way to winning with money. It is about ACE – “Attitude”, “Choices” and “Effort”.
Thanks – Jackie
ACE – I like that Jackie!