Who is Helping you Reach your Goals of Financial Freedom? image

Who is Helping You Reach Your Goals of Financial Freedom?

Support is a Major Key to Success

Last week, I talked about the importance of choosing the right advisors to help you on your journey to financial freedom. In addition to finding the right advisors, you also need to put together a support structure in order to be successful.

As the famous quote by John Donne goes, “No man [or in this case, woman] is an island, entire of itself.” And as I say in It’s Rising Time!, “for you to get from where you are financially right now to achieving your financial dream, you cannot do it all by yourself. It is impossible.”

Unlike your group of good advisors, your personal support group is your reliable, go-to place to get moral, mental and emotional encouragement. This is a group made up of people you trust and can turn to, especially when times get tough. They listen, are aligned with you to accomplish your goals, and most important, give you honest feedback – even when you don’t want to hear it!

Face it. We women can make a lot of excuses, especially when it comes to money. But imagine making these excuses out loud to a group of close friends whom you trust and admire. They want you to succeed and will provide the encouragement you need to turn your negative thinking around. Without this ongoing, support group in place, you will probably quit.

According to the Mayo Clinic, some of the benefits of support groups include, “Feeling less lonely, isolated or judged, gaining a sense of empowerment and control, improving your coping skills and sense of adjustment, and reducing distress, depression or anxiety.” Who couldn’t use this kind of positive influence in their life? So with this in mind…

Who’s in Your Support Group?
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My support group is small, and over time, I’ve found that’s what works best for me. You’ll need to find the right people and group size that work best for your situation.

To start your group, approach your spouse or significant other. This person is usually your number-one supporter. If not, and your partner is more of a liability than an asset, do not let this get in your way. Simply do not include him or her in your support structure at this time. Many women tell me that their husbands are not supportive at first, but they come around once they see the cash flow come in!

Next, look at pulling together two to four women embarking on similar journeys. I’ve found that powerful things happen when women encourage one another to pursue their dreams. And if you study and learn from your experiences together, it becomes a priceless collaboration. You receive a financial education you cannot get in any other way.

Another vital member of your support structure is a coach and/or mentor. A mentor is someone who can relate to your situation because he or she has already been there. A coach is someone who works with you towards a specific outcome via structured training. Good coaches and mentors have extensive experience and success in the areas you are trying to pursue. They should be people you respect who provide guidance and knowledge and are there when you need help.

Your Support Structure is Vital to Success.
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My support structure has changed over the years. I’ve had different coaches and mentors in various areas throughout my life. And you will too. As your aspirations and situation changes, so will the people you count on for encouragement, guidance and knowledge.

But no matter where you are, whether you have big dreams of financial freedom or just want to get out of the rat race, my strong advice to you is to create your support structure now. Surround yourself with people who provide trust, knowledge, experience, and encouragement. Without a support system, you are setting yourself up for failure. Instead, I want you to win on your journey to financial freedom!

Who are you going to ask to be part of your support structure today?

For additional information, please check out our free, financial education community here.

Original publish date: November 08, 2012