Part 3 – Closing The Gaps of Your Financial Success

/ / Personal Growth

I hope I convinced you on Part 2 of this series that to achieve financial success, financial planning is essential long before we start talking about investment opportunities, tax harvesting strategies, online businesses, and the likes.

Don’t you think?

This is a series of 4 blog posts. Here is a link for Part 1 and PART 2 if you want to follow along before reading Part 3 of “Closing The Gaps of Your Financial Success.”

I don’t want YOU to be like most people okay? Let’s continue to use our water rafting analogy. On Part 2, I compared the importance of financial planning and water rafting. I said:

“The (water rafting) guide or the instructor has to plan the best route to navigate safely through the massive rocks that rapidly approaches the raft. If the instructor doesn’t do a very good job planning the route, or even worst, doesn’t plan the route at all, then the raft can easily smash into a rock or overturn.”

I’d like to share today

3 types of planning pitfalls that most people fall under and 1 that I want you to focus on.

1- Passive Planning

Passive planning happens when you allow your finances to travel downstream at the mercy of the current rather than steering, rowing, and turning. This type of non-planning ultimately leaves you unprepared to face whitewater rapids of financial troubles.

Worse yet, in the lack of a plan, the current may take your finances over the edge of a dreaded waterfall(bankruptcy).

2- Panic Planning

Panic planning only happens after your finances are in trouble. At this point, you, your family, and friends are trying to scramble for all the resources you guys can get in an attempt to solve your financial problems.

With panic planning, your finances may or may not come out alive and well, but you’re guaranteed some bumps and bruises. (Debt restructured, late charges, etc)

3- Scientific planning

This is where most financial mentors out there have failed with you. The plan can be viable, but so laborious, mechanical, and often ends up abandoned in the process by you, the student.

Imagine if the water raft instructor tried to constantly measure the depth of the water, the distance between rocks, the wind speed, and the water current.

The information might be helpful, but oftentimes the water is moving so quickly that is almost impossible to take these measurements. In the same way, your finances often have to respond to change in an instant. There’s no time to collect scientific data on all of the variables before agreeing which course of action is best.

Because you’re not like everyone else, YOU SHOULD AND YOU WILL focus on this type of planning.

Principle Planning

This is the key to effectiveness and successful financial planning. It’s the artistic or leadership approach. The person who implements the Principle Planning, recognizes that life in general, especially people, can’t be graphed on a chart.

They understand that in anything they do, planning remains essential.

Even if you don’t believe in the Bible, you and I must agree that it was written by inspired and intelligent people. In the Bible, it says:

“Where there is no vision, the people perish.” Proverbs 29:18

Planning pays off. Big time. Nobody likes to tape the walls before painting their beautiful home. Yet, people do tape their walls because they see that’s necessary for a job well done.

I believe there are 4 reasons why people still don’t take action to implement a solid financial plan in their lives.

Since you’re not like anybody else, you understand that you don’t have to be in a perfect financial position to know that planning pays off.

Reason #1 – Some People Don’t Have Planning Skills or Knowledge To Plan

They’ve never been taught to prioritize their day or to prepare for tomorrow. Living paycheck after paycheck is their normal. I don’t blame them. They don’t have an instinctive ability to project themselves into the future.

Reason #2 – They Believe That They Don’t Have Time To Plan

They’re caught in the oppression of the urgent. As a consequence, not only they’re pulled into this vortex of details, but they end up buried under these details. They might have the energy to pull themselves out and bring their heads above water long enough to plan.

Reason #3 – They Hate The Perceived Hassle of Financial Planning.

The reason most people perceived that financial planning is such a stress, it’s because they try to plan for every possible financial outcome. Instead, plan one event at a time. Don’t become overwhelmed by the mountain of stuff to plan.

Reason #4 – Why Plan? It’s Going To Change Anyways.

Have you heard this comment before, my friend? “Why bother to make a plan. Life changes, so what we planned before never happens.”

There will be times where you’re going to have to stop and allow the train to pass by. You’re going to wait while making everything count. Take a roadblock and make it a moment for learning, growth, and advancement.

Our life is a life of choices which there are certain things that we abandon so that we go do something else.

The value of our choices are created by the abandon of the things that are good so that we can hold on to things that are better.

Be flexible without losing focus.
So, we all have dreams. We all have financial desires. Yet, we’ll never accomplish our dreams in our financial life just by wanting them bad enough.

Start building bridges between your dreams and your current actions.

On the next post of this series of 4 blog posts, I’m going to terminate 6 wrong beliefs about financial success that might be limiting your actions.

Can’t wait to see your success!

Your friend,


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