False
1779;
Score | 24
Samuel Adisa Student @ Akungba
Akure, Nigeria
1534
638
49
13
Attended | Adekunle Ajasin University(BS),
In Business Development • 2 min read • May 25, 2025 13:49p.m.
Chapter 3:The Psychology Of Wealth contd
<p>Short-Term vs. Long-Term Wealth-Building Strategies</p><p>Wealth-building requires a balance of short-term and long-term strategies. Short-term goals keep you motivated, while long-term goals ensure sustained progress.</p><p><br></p><p>Short-Term Goals</p><p><br></p><p>Focus on immediate actions that create momentum and build confidence.</p><p><br></p><p>Examples:</p><p>Paying off a credit card debt.</p><p><br></p><p>Building an emergency fund with 3-6 months’ worth of expenses.</p><p><br></p><p>Saving for a vacation or a major purchase.</p><p><br></p><p>Long-Term Goals</p><p><br></p><p>Focus on big-picture objectives that require time and patience.</p><p><br></p><p>Examples:</p><p>Saving for retirement.</p><p><br></p><p>Investing in real estate or the stock market.</p><p><br></p><p>Building a business or passive income streams.</p><p><br></p><p>Balancing Both</p><p><br></p><p>Allocate your resources (time, money, and energy) to both short-term and long-term goals.</p><p><br></p><p>Example: While saving for retirement (long-term), you might also set aside money for a family vacation (short-term).</p><p>Aligning Your Goals with Your Values</p><p>Your financial goals should reflect what truly matters to you. Aligning your goals with your values ensures that your wealth-building journey is meaningful and fulfilling.</p><p><br></p><p>Identify Your Core Values</p><p><br></p><p>What do you care about most? Family, freedom, security, creativity, or making a difference in the world?</p><p><br></p><p>Example: If you value family, your financial goals might include saving for your children’s education or creating a legacy for future generations.</p><p><br></p><p>Make Values-Based Decisions</p><p><br></p><p>Use your values as a guide for financial decisions.</p><p><br></p><p>Example: If you value experiences over material possessions, you might prioritize saving for travel over buying a luxury car.</p><p><br></p><p>Stay True to Yourself</p><p><br></p><p>Avoid comparing yourself to others or pursuing goals that don’t align with your values.</p><p><br></p><p>Example: If your friends are buying expensive homes but you value financial freedom, focus on building savings and investments instead.</p><p>Building Wealth from the Inside Out</p><p>Wealth is as much about mindset as it is about money. By understanding how your mindset shapes your financial journey, overcoming limiting beliefs, and setting clear, values-aligned goals, you can build a strong foundation for lasting financial success. Remember, the journey to wealth is not just about accumulating money; it’s about becoming the best version of yourself—someone who is confident, resilient, and empowered to create a life of abundance and fulfillment.</p><p><br></p>
Adegbite Samson A... Adeleke Gideon Adekanbi Bukola
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