Does your future feel bigger than your past?

February 25th 2019 | Categories: Budgeting & Goals |

Take a moment to consider something. When you think of your past and your future, which brings you the most joy?  If you’re drawn down memory lane more than the unexplored territory of what’s to come, it might be time to rethink your future.

At Invest Blue, we believe that it’s important that your future holds more than your past. Here’s why.

Understand how your decisions and actions today may affect your financial security tomorrow. Get in touch.

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Why it’s important that your future is bigger than your past

It’s easy to think of the past as having the most impact on who you are, and what you do. After all, it’s full of experiences and memories that shape you. However, it’s essential to remember that the past has been lived, while the future still awaits.

Everything that comes next is full of potential, which you can shape with the decisions you make today. It’s these choices that dictate who and what you are because they’re dynamic and under your control. The past, in comparison, is static. Your experiences are stepping stones to what comes next, and provide you with the material and knowledge you need to form your future.

Believing that your future is bigger than your past is vital. It encourages you to continue growing, providing you with purpose and drive. No matter what stage of your life you’re in, tomorrow always has more to offer you than yesterday, if you’re willing to put the time into it.

Should you need any other reason to believe that your future is bigger than your past, answer this question. In five years time, would you be happy if you were in the same place?

If the answer is no, it’s time to consider what you need to do to achieve the progress that’ll make you happy.

How to ensure your future is bigger than your past

Change your mindset

Believe it’s true. This sounds deceptively simple, however growing your belief in your future is important to ensuring you create it. Unless you know how much it has to offer you, finding the motivation to create necessary changes is difficult.

One great way to do this is to develop a growth mindset. This is where you know you can make a difference in your own life by understanding that your intelligence and potential is malleable and improbable. You have the power to make positive change over your own life through persistent effort and application.

Review your past and present

To get anywhere, you need to know where you are. Consider your life currently, and what your past holds. What are you proud of, and why? On the flip side, what still causes you regret, and what would you change if you could?

Avoid judgement during this stage. Instead, evaluate your past and present as logically as possible. By understanding your strengths and weaknesses, you can make wise decisions about how you want to proceed.

Paint your future

It’s rare to know exactly what you want out of your life. However, most people do have an idea of what’s important to them. Painting your future means taking what you’ve learnt from your past and present and using it to identify the direction you want to travel.

Write down answers to the following questions:

• Do your goals align with what’s important to you? If not, how can you adjust them?
• Does your financial plan support your life goals?
• What changes do you need to make to your life today to match with what you want from your future?
• How can you break these changes up into smaller daily improvements that are easily achievable?

Remember that, while an overall idea helps to drive your decisions and align your focus, it’s the small consistent steps that you take that get you there. Don’t be afraid to break down the challenges you face into incremental changes that add up over time.

Start your future now

The beginning is often the hardest part of the journey. However, by taking action on the first small step immediately, you can start creating the improvements you want to see in your life. Consider, for example, wanting to put money aside for an overseas trip. Simply noting down each time you buy a coffee can make you more aware of your spending. With the motivation to save for something you want, and being mindful of your current habits, you can begin to change how you act and therefore mold your future.

Another way to take action is to enlist people who can help you, such as financial planners. Having someone on your side who can hold you accountable is a powerful way to help ensure your future is bigger than your past. There may also be other ways of achieving what is most important to you. We don’t know what we don’t know.

Rinse and repeat

At regular intervals review your progress. Celebrate the wins and identify where you can improve to get more out of your future. As shown by research by Angela Duckworth, grit is a major indicator of success, even more so than talent. By continuously reviewing where you are, recognising what you’ve learnt and using that to move forward, you’re building yourself a brighter future.

If you’d like help creating a tomorrow that’s greater than yesterday, come in and discuss your goals with us today. We can help you create a financial plan for your future.

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What you need to know

This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.  https://www.apa.org/pubs/highlights/peeps/issue-105.aspx  https://www.behavioraleconomics.com/resources/introduction-behavioral-economics/