Its ok to reach for help but when rely on it it become a crutch
Toxic Charity: Lessons from Bob Lupton 1. Appreciation 2. Anticipation 3. Expectation 4. Entitlement 5. Dependancy
What is a crutch: 1. Traditional: something to lean on because of an unanticipated event 2. Handout rather than and hand up 3. Limiting believe 4. Doing vs showing – look for teachers in your life 5. Decision making vs philosophies – decisions making is a developed skill
The problem with a crutch: 1. Don’t develop a resourceful toolbox 2. Have to live your life under somebody else rules 3. Guilt – financial and emotional 4. Life direction is limited 5. Limited by the limitations of your crutch – situation/career 6. Enables a false unsustainable reality
Build on top of something you have already started or get back to there basics
Our lives tend to be a contagious never ending cycle with a re-sets you need to find a time of year for a fresh start.
New years resolutions are not quite the same because you go from winter to winter where with September brings a change of season and all of your senses are engaged.
Why September represents a new beginning 1. Move from relaxation mode to productive mode 2. End of vacation season – re-start routine 3. Change of seasons – environmental and physical 4. School starts – traditional and continued learning
Areas of life for a new beginning: 1. Relationships 2. Health – physical and mental 3. Finance
How to leverage a new beginning: 1. Enrol in continuing education 2. Remember the frugalness of the student lifestyle 3. Read a self help book (audiobook) 4. Subscribe to a youtube channel 5. Subscribe to a podcast 6. Join a group of like-minded people
Why financial literacy is important 1. Personal finance touches all aspects of your life 2. It will serve you for your entire life 3. Builds self-confidence 4. Develops big picture thinking
Possible target groups – secondary school or post secondary school
Why financial literacy might not work in High School 1. Maturity is not ready (no urgency) 2. Peer pressure 3. Mandatory vs optional 4. Parent are too strong of a role model 5. The stakes are too low
Financial Literacy Topics: 1. 90% behaviour 10% math – develop life long habits and self-discipline 2. Spend less than you earn – a documented budget is a requirement 3. Credit does not solve problems – it makes them worse 4. Life does not always go as planned – and that’s ok 5. Develop the self discipline to save money – and not spend it 6. Document your goals and dreams 7. Develop a value system – this will evolve as your grow
The average person will spend 90,000 hours at work
Article from Radio Canada International: A recent survey shows only 27 per cent of Canadians say they are satisfied with their current employer and are not interested in a new job. – https://www.rcinet.ca/en/2018/12/17/only-about-one-quarter-of-canadians-satisfied-with-their-job/
“Millennials have a desire to do work that is interesting to them. Things that give them joy and satisfaction. I think they’re more willing to walk away than the generations that came before them.” – https://www.cbc.ca/news/business/job-satisfaction-employee-retention-canada-1.4945021
Therefore, can your profession be your passion?
What is a passion?
Dig deep (i.e. personality type etc.)
What is a profession?
Ask yourself, are you really feeling intrinsically rewarded?
What’s holding us back from turning our passion into a profession? — The “F” word…
Fear of investment (time, money etc.)
Fear of judgment (others’ opinions)
Fear of failure (idea/business fails at any point of execution)
Fear of commitment (your interest will waiver; to ourselves)
Fear of unprofitability (idea/business does not perform well)
Can a passion really be profitable?
When should you turn your passion into a profession?
Testing ground to full-time: start a profit-earning side hustle (ex. online store, live market place – craft show, coffee house, art gallery, farmer’s market etc.); launch a free resource and monetize (ex. YouTube channel, blog, podcast)
Supply and demand — when your passion project gets too successful or popular to just maintain on the side
Just do it — Rachel Hollis: no one wants something more badly then you want it for yourself