Magic Milestones and a Power List
We’re educated sufficiently to make money. But when it comes to managing it, few are actually clear. A failure to manage money realistically defeats the whole purpose of earning money! Perhaps contrary to what you may have thought, managing your money is not all about numbers, financial tools, assets and liabilities. It begins with creating and managing your life goals.
Think ahead. Way ahead. Make Milestones.
Shut your eyes and think forward to 30 years. What are your grocery bills going to be, then? Hard to predict? You bet. There are many more questions that are unanswerable and uncertain, such as “How much will I earn over the next 20 years”, or “What will be my child’s education bill in 2016”?
The entire world is going through shifts in dynamic ways that even super computers cannot understand.
Yet, paradoxically, in the face of this, you have to plan.
One way to achieve what you do want is to set yourself free to dream. Even though dreaming or day-dreaming is frowned upon by adults. Ignore the adults for the time being – we’ll play for a while! If you’re like me, you know what you do not want in the future. Don’t just stop there – look at what you want as well.
So, set yourself free and – dream a little! Dream of what you do want, put an expiration date on it, and work to achieve it. Call this your Magic Milestones List. And, sometimes, you may have to leave your comfort zone to make this list! For example, do you hate traffic jams on the way to work? One milestone may be to be in a different line of work, or living in another city by a specific date!
- New skills and new job or business. By when?
- Building an education fund for each of your children, by a certain date.
- Taking annual vacations. Be specific about the places, number of days and the time/year.
- Owning a home, or other investment. Put down the amount, month and year.
Get Clarity! Clarity is Power.
Clarity can power your milestones into reality. Ask yourself these “power questions”:
- What concerns are these milestones designed to fulfil? Security? Safety? A heart-felt passion for a business or profession?
- What is required to unquestionably realise that outcome?
- If you thought of these milestones as accomplishments for everyone involved, what would have been accomplished?
- Get everyone who is involved, involved in a real discussion.
People have a hard time talking about sex and money. But it’s sometimes harder to talk out your dreams!
- Who all are involved? How?
- Do they need to contribute something in order for you to realise the milestones?
- What information do you need to have available before you discuss the milestones?
- What will need to get recorded, if anything, during the discussion?
- If you schedule your calendar (highly recommended!), what will it say about what’s going to happen in 48 hours? One week? The next 3 months?
Make this milestones sheet for yourself and others who are involved. Answers to the “power questions” will give you a“power list” of things to do, people involved, how they will contribute, by when, and more. Keep in mind that this is a discussion, and that you will most probably end up with lists and actions that you had no idea of to start with.
This looks tough, but once you’re through with this stage, the way forward becomes so much easier! And, just in case you’re expecting to be done with the list in 40 minutes, wait! Give it at least a week or 10 days.
Priyanka Bhatia is the co-founder of One Tree Spaces, a niche wealth creation and real estate business that caters exclusively to women.