Financial Success

by Carmen C. Garcia, CPA

The Strangest Secret

Do you feel secure in your financial future? Are you financially successful? What does that mean to you? Do you have financial problems or challenges that you want to change or overcome? What are you doing about them? Do you have a plan?

Almost thirty years ago I listened to a tape by Earl Nightingale called "The Strangest Secret." In that tape Earl explains the definition of success. "Success" he says "is the progressive realization of a worthy ideal." If you have a goal, and are working toward achieving that goal, then you are a success, a winner. For example, if your goal is to be a high school graduate and you are in school or pursuing a GED, then you are a success because you are progressively realizing your goal.

At the time I first listened to that tape I was 25 years old, working for the state employment service as an instructor of welfare moms getting ready for the world of work. My job was to take these women through a three-week orientation course on how to get a job and keep it. The state of Texas, in its infinite wisdom, selected the materials to choose from for the contents of the course. This tape was one of the resources. I heard it every three weeks for a year. I memorized it. I dreamed about it. It became engrained in my memory and subconscious forever. The theme of the tape was-"You can do or be anything you want to do or be, if you want it badly enough and are willing to work for it. Think and focus on what you want, there is no way you can fail."

When I left that job, I had internalized these principles and I have used them successfully throughout the 30 years after hearing them. I went on to be a successful wife and mother, achieved a second degree in Accounting, passed the CPA exam, talked my way into an international accounting firm, started my own business and climbed to the top of the accounting profession on the Texas State Board of Public Accountancy in less than ten years.

Financial Success

All of my clients, without exception, want to improve the state of their finances. Almost all of them think that to be financially successful they have to have millions, or at least thousands, of dollars in the bank earning interest. Almost all of them list getting out of debt as one of their top three goals. These are lofty goals indeed, but not really necessary to consider yourself financially successful. A wise sage told me recently "the journey is so much more important than the destination." In your journey toward financial independence consider your problems more as challenges, obstacles to be overcome or conquered as you work towards you goals. Take the emotion out of these obstacles. One of the biggest obstacles is denial or an unwillingness to confront the situation and take control of what can be controlled.

If your challenges are that you don't have enough money, or don't have as much as you think you should have or would like to have, what are you doing about it?! Are you working towards correction the situation so that eventually you will have enough? In this case there are only two solutions:

1. Increase Income - This may involve asking for a raise, changing jobs or changing careers. A word of caution: Don't choose your job based on how much money it will pay. Find something you love to do and do well and give of yourself without regard to financial gain. The money will follow. (Another gem from my wise old sage!)



2. Reduce Expenses - Eliminate any preconceived notions about expenses and what is necessary and what is not necessary. Keep a log of daily expenses and scrutinize it mercilessly. Your checkbook register is a handy tool, just pay for everything by check. Question yourself about everything. Just knowing a being aware of what you spend will help.

Write Down Your Goals

Finally, write down your financial goals and go over them regularly. Studies conducted at Yale University have shown that people who have written goals are more successful than those who do not write them out. Write out your goals daily or weekly, think about your goals, visualize yourself achieving your goals, feel the satisfaction of achieving your dreams. There is no way you can fail.

Becoming financially successful then means working toward achieving worthy financial ideals such as increasing income, reducing expenses, reducing debt, reducing taxes, maximizing each dollar, saving for a car, a vacation, a new house, college or retirement. Write down you goals today and you will be on your way to financial success.

Carmen C. Garcia, CPA, is President and Owner of C.C. Garcia & Co., P.C. a San Antonio CPA firm serving individuals, small businesses and non-profit agencies. Email carmen@ccgarcia.com or visit her website at www.ccgarcia.com.