Why do people fail to achieve their financial goals?

"Every financial worry you want to banish and financial dream you want to achieve comes from taking tiny steps today that put you on a path toward your goals." - Suze Orman

This excellent quote from Suze Orman sums up the whole financial planning process of a person leading to financial wellbeing and freedom.

Why do we fail?

If small and consistent steps in the right direction is all it takes to achieve our goals, then why only a few win with money?

Why are people leading average lives?

Why are people living paycheck to paycheck?

Why don't people have adequate savings for retirement, and even for emergencies!

Why do we fail, When we know that small and consistent steps will lead us to our goals?

But how many of us take the most critical first step at the right time, and keep following it with consecutive steps?

Very few, I would guess!

The first step towards achieving a goal always seems challenging, the more we brood over it, the more difficult it looks!

As human beings, our action or inaction is motivated, either by fear of losing what we already have or from the pleasure of having what we desire.

When the perceived fear is stronger than the happiness we aim to achieve, then we are unable to make a proper decision.

Indecision is the mother of procrastination! It is also the biggest reason why many don't invest their savings!

What is indecision?

As discussed above, when the perceived fear of losing what we have is stronger than the pleasure of having or achieving what we desire, then we are in a fix. We are unable to move forward or backward, letting the opportunity pass by. This state of being in a fix is called indecision.

As we continue to let opportunities pass by our confidence takes a heavy beating. We tend to accept financial distress as an inevitable part of our lives and start living a compromised life.

Brian Tracy explains the positive impact of decisiveness, aptly through his quote.

"Decisiveness is a characteristic of high-performing men and women. Almost any decision is better than no decision at all."

How to get rid of Indecision?

The following factors can largely contribute to the riddance of indecision;

Belief: Positive belief on its own can change the way we look and do things. Eliminating the fear of failure and helping us take the most crucial first step towards our goal.

The following poem from Napoleon Hill's Think and Grow Rich highlights the importance of belief;

"If you think you are beaten....      

“If you think you are beaten, you are, If you think you dare not, you don’t.

If you like to win, but you think you can’t, It is almost certain you won’t.

If you think you’ll lose, you’re lost!!

For out of the world we find, Success begins with a fellow’s will— It’s all in the state of mind.

If you think you are outclassed, you are, You’ve got to think high to rise,

You’ve got to be sure of yourself before You can ever win a prize.

Life’s battles don’t always go, To the stronger or faster man,

But soon or late the man who wins Is the man WHO THINKS HE CAN!”

Hire a Coach or find a Mentor

Having a coach can make a significant difference in our lives. A good coach knows when to push, and when to let loose, they know how to motivate and channel our inner strength towards the achievement of our goals.

They see things from a different perspective and also see things we do not notice.  A good coach improves our confidence levels by eliminating the perceived fears lingering in our minds, therefore, eliminating indecision and procrastination.

While many factors can be added to this list, I reckon the above discussed are the most important in eliminating indecision. It helps us get rid of our fears and achieve our goals.

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