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Overcoming Barriers to a Savings Culture

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Thursday, September 7, 2017 11:00AM / Infinity Trust Mortgage Bank  

Knowing what you are supposed to do and that you are actually doing it is often a different ball game. Virtually everyone has seen the memo on the need to save and invest consistently if they want their money to work for them. Everyone desires that. So how come many try to save but still end up with no savings? Many people desire to save. They actually start saving but a need always comes up and their savings is gone. They start to feel as if they are wasting time because they know the money they are trying to save will soon be gone. At some point, they give up. 

Self-sabotage: The challenge in cultivating a savings culture mostly arises from the conflict between the conscious mind trying to act on new information and the subconscious mind that is still running on an old programme. There is a self-sabotage process going on. The conscious mind wants to invest but the subconscious mind is still running on consumption mode. The subconscious mind where our habits and paradigms reside controls our everyday actions. 

When we attempt to take actions while bypassing the subconscious, we get temporary results until our subconscious regains control and takes us back to our comfort zone. It is like keeping banana with a monkey. That banana will soon become history. The banana is not safe unless you first of all wean the monkey off banana. Until you change your habits and paradigms, the ‘monkey’ will keep eating the banana.  

Paradigm shift: For anything to change, you have to change. If you give a hunter a male and a female goat, he will simply slaughter them for meat. It happens automatically. He does not have to think about it. His mind is wired that way. More goats simply mean more meat, even if he has to store some in the freezer for future consumption. It will not occur to him that he can delay gratification and grow them into a flock of goats. You may be able to convince this hunter to delay killing the goats by making him see what can happen if the she goat gets pregnant and gives birth to kids. He can only hold on for so long until hunger strikes, his existing paradigm kicks in and he goes for the kill, automatically. He is not thinking. It is his paradigm that is running the show. His paradigm has to shift for real change to happen.

Have a clear vision: You need to have a clear picture of where you want to be financially in the future. The sharper the image, the stronger your desire and focus.  See it in 3D, take a walk round it in your imagination. Hear the sound, perceive the smell and feel the sense of fulfillment as your dreams finally come true. Set your imagination free and pre-play your desired future. Don’t worry about how you are going to get there. Make up your mind you are going to get there no matter what it takes. 

For more insights and mortgage related enquiries call 08177196713 or email info@itmbplc.com  

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