How to Effectively Set Your Personal Finance Plan on Auto-Pilot

Like Mayo(nnaise), let’s get right to the bread.

Not sure what everyone sees on their Instagram but lately I’ve been getting an insane amount of positive financial information due to the people that I’ve been following, specifically #paybalances and joemoney.

There is definitely power in what we consume. The ShadeRoom might seem like harmless fun, but be careful what you make your source. If you watch petty tv, you end up being pretty petty all the time.

So if you are reading this, just know that I’m writing it so that you are encouraged.

I’m writing this so that you seek self-mastery over fear. And I’m writing this because I believe that we can all dream and aspire to something greater. Although I drafted my Net/Max Financial Plan; I stay grounded enough to know that all plans are subject to changes and tweaks. Too often people avoid setting a plan and some sort of benchmark to live by.

Table of Contents

Exhibit A:

The idea is simple and sound. You can approach it in awe and curiosity (which leads to personal innovation). Or you can approach it with a closed mind and a full cup. This is what is known as having a winning mindset vs. a losing mindset.

The Winner always has a backup plan for his backup.

He/She sees an imperfect opportunity. Seeks to understand the logic. Breaks down what works or doesn’t work (for Them). ⇠ That part is huge.

From that analysis, they either take the plan, adopt a version of the plan, or make mental notes and grab what they can from the plan. Ie: “I don’t have the money, but this looks like something that I would like to do. I wonder how I will get started.” or “I really just want to pay off my car and insurance that would be nice, I can do that.”

The winner energizes people. Winners invest. They generate new wealth and new knowledge.

The Loser’s Plan?

He/She sees an imperfect opportunity. Seeks to denounce it and/or bash it outright because they might not grasp the logic behind it. They often come to the realization that if it’s even slightly imperfect therefore it is 100% wrong and 100% of no value even if there is proof to invalidate that opinion.

With no analysis, they comment and refute differing views because it’s easier to stick with what they know even if it doesn’t do anything for them. Ie: “Easy for you to say, I don’t have money”, “It doesn’t work”, “If the govt…”, or “Because of …”

A loser drains the energy out of the room and never has a plan.

Their decision has been made processed and finalized. Trust me, don’t go back and forth just run away as soon as possible. Don’t believe me, go to the dreaded comment section.

For example, mag-Pie10 states that “but most of us need to get a mortgage for our house and get a second mortgage to buy a rental”. One, mag-pie10 isn’t a spokesperson for “most of us.”

Some of us are sure (maybe) but not all of us.

While Fueledbydieselco seems to be pretty stoked by the new idea and “a simple way to look at” something complicated for even a rocket scientist.

Mag isn’t wrong. She isn’t 100% right either. She has concerns or she needs loads of conversations to understand some of the components. If you are like mag the rest of this post is for you.

Don’t Panic (allow your mind to adjust to new information.
Break it down (this is just information, they want you to succeed.
Get a rental/first home property. That’s not today or tomorrow, that’s whenever you get to it. It could be 2-10 years.
Once you have it down packed, get proceeds to get house number 2. Once you get that down pack as well, write a book, and host conferences. And finally, reinvest. It’s very doable. It might take time but everything meaningful takes time.

Takeaways on creating an effective plan:

Budgeting should not be hard and Your Personal Finance Plan should not be complicated. Here are Tips to make them effective.

You didn’t lose anything. You have time to change, process, and ask good questions. You learn something new. Fear paralyzes growth.

Don’t get left behind in the comments section while never contributing a body of work that speaks to the greatest potential in you. If it doesn’t work, check out 5 ways to recognize an opportunity.

Set a Plan and watch the results.