Do you remember when you achieved the goal that you had desired for so long?

Do you remember the feeling you had? The joy, the excitement, the feeling of satisfaction of receiving the fruits of your labor.

I saw a video of Deion Sanders (AKA Coach Prime) talking to his football team. In the meeting he asked the team if they ever won a championship and if they remembered how they felt when they won?

Most of the players raised their hands in agreement.

He followed up by asking what did it take to win. What did it take to achieve that goal?

The players chimed in with “Dedication. Consistency. Discipline. Accountability. Details.”

They shouted out great attributes you must have to possess a winning mentality. This is what it took for them to win. But, as I listened, I realized that these are the same attributes that you need to build wealth. 

Dedication. Consistency. Discipline. Accountability. Details.

In this article, we will discuss how these attributes are the same both winning a championship and the wealth game.

Dedication

To build wealth for you and your family, it will take dedication.

Wealth does not happen by accident or by throwing money into different investments. It must be intentional and a commitment to achieving it.

Dedication means to devote to a task or purpose. Dedication means being loyal and we all know that no one likes a flaky person. The question is, are you dedicated to building wealth? Are you committed to it or are you hoping that it will just happen eventually? Does your actions align with your words?

This are questions that you should really ask yourself.

Because to win this game of wealth, dedication is required.

To win this game of wealth, dedication is required.

Consistency

Besides dedication, you must be consistent.

You must consistently direct your money to where it should go. You must be consistent in allocating money to your financial goals.  This does not only refer to dedicating money to savings and paying down debt, which are great goals, but also to investments. You must be consistent to investing because this is where the multiplication happens.  This is where the power of compound interest works wonders.

You must use compound interest in your favor and you must do it consistently. I once heard a quote that said

 

If you aren’t using compound interest, then someone else is using it against you.”

What is compound interest?  According to Investopedia, compound interest is the interest earned on both the initial principal and the accumulated interest.  In other words, you are making money with your money.

You must create a habit of being consistent to building wealth. No matter how small, just be consistent.  It will grow overtime. 

Discipline

To be dedicated and consistent requires discipline.

To have discipline you must train and develop yourself. Lack of discipline will have your money unorganized and working for someone else rather than for you.  This is exactly how I got it to $50,000 of debt. I told myself that when I became an adult no one would be able to tell me no and I would buy anything that I wanted.

Now there’s nothing wrong with buying what you want but there is a right way and there’s a wrong way to make it happen.

I chose the wrong way.  The wrong way was easy, quicker, and uninterested in the consequences of my actions.

I was mindless and childlike in my spending habits and I reaped the consequences. It wasn’t until I took ownership of my financial mess and committed to building effective money management habits that I was able to turn my finances around. 

Building wealth requires discipline.  But, most people are not disciplined because we have been conditioned to be impulsive and distracted. Because discipline does not come naturally, you must train yourself to go against the grain. You must deliberately be the odd man out. This will be hard at first, but over time it becomes natural and a part of your lifestyle.

Detail Oriented

The next attribute you need is to be detail-oriented.

Do you know where your money is going? This is one of the main reasons rich entertainers and athletes end their careers broke. Unfortunately, we cannot limit this to just celebrities because this also impacts the average person.

Not knowing the details of your money is a mistake.  Many just assume that it will all work out in the end. While I love the positivity you need to support this thinking with intention. Because if you do not check the details, someone will be using your money for their benefit and not yours.

The details matter.

Now I am not saying to obsess over it, but you should be aware of where your money is, directing it to where it should be and confident that it is working for you.

Accountability

The last attribute in this article is accountability.

To be accountable means to be required or expected to justify your actions or decisions.

You are accountable for the money you receive. You are responsible for the management and multiplication of it. The Bible speaks of this expectation of stewardship in Matthew 25 with The Parable Of The Talents.

I will not go into the story here, but if you have read the story then you know that it did not end well for the man who mismanaged the funds. If you haven’t read it, I highly recommend reading the story.

The bottom line is if you want to be wealthy, you need to be accountable. And if you need help, then you need to seek accountability until you have mastered it.

 

These qualities that Sanders and his team highlighted, are the same qualities that you will need to win with wealth. You must be dedicated, consistent, disciplined, accountable, and focused on the details. Not later but now. 

Building wealth starts right now with a decision and the implementation of aligning your money to your financial goals. 

That’s getting your Finances On Point.

 

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