Experts underscore the importance of setting goals, basing on priority, health of relationships, state of business growth, and financial performance in order to achieve them. This information is based on experiences, theories, and insights about human behaviour.
Pioritising goals: It is important to set goals to guide one’s path to successful career and life.
Effective transformation of the self, family, group, organisation or society happen in desired period of time, if importance of the goals is determined, basing on the degree and urgency of needs.
According to Maslow (1970), human needs are ranked as follows; physiological needs, security needs, social needs, esteem needs and self-actualisation needs. This is, especially so, because of the assumption that resources are scarce and must be used wisely.
Being wise means that one realises that human wants are insatiable as much as the human problems.
Indeed, anyone can be wise. But, in any given moment, or period of time, there is what can be identified as biggest problem, central action necessary to diffuse it, and resources needed to do so.
It is upon this background that planners choose to breakdown goals, according to priority or level of importance, and target each of them, accordingly, beginning with the highest in demand goals. Then, be followed by the medium and lower goals.
Changing bad habits:
First, change is a process. It is widely considered natural. Missed change is a source of conflict within the individual and his or her social environment. The first step to consider in the change process is gaining insight about self, which helps to recollect, review and sieve information about behaviours and their consequences. This creates a need and goal for change of the identified habits, to learn how they evolve, to identify trigger factors associated to them, to develop systematic plans to address trigger factors, to find healthy alternatives to replace trigger factors, including the sensual drinks, environments, and people.
It is very important to regularly say words of masterly during the change course and find reinforcing groups of people and objects within one’s immediate environment to support the new course of life. Changing bad habits is a self-driven and reinforced course of action.
Holding regular family councils:
Holding regular family councils has the benefit of resolving family conflicts through assimilating challenges in the socioeconomic and political environment.
Many mental health challenges, if not all, originate in families in form of child abuse, neglect, rejection, separation, and divorce, among others. These can be resolved to reduce adverse impact on character damage on the individual and society.
Assimilating socioeconomic challenges or any other environmental pressures on the individual family member can only be effectively rationalised, faced together as family or friends, organisations, and be resolved by them to reduce extremes of anxieties, stress and depression on the individual.
Avoiding debt calls for commitment and utilisation of immediate resources to satisfy most important needs, since human needs cannot be fully satisfied.
Researchers presented needs as analogy of emotions, such as fear, because of the sense of insecurity.
The steps people can take to avoid debts and go on to prosper are; 1) identifying, focusing and utilising available resources to satisfy needs, investing in available resources, including skills, talents, experiences and abilities to make a living, and exercising contentment and patience, while exploiting available resources -having realised one’s limits.
And 2), craving for debts is a sign of excessive anxiety, lack of contentment, and greed, which can be overcome to avoid borrowing.
Investing in the future:
Investment is a means to sustain livelihoods. It allows current resources to be valued and cost-tagged for monetary exchange at a price good that is enough accumulate wealth more quickly. This requires reduction and restriction of expenditure, and developing a mentality of saving.
Ultimately, increased savings avails monetary resources that are adequate enough to invest in a new project or expand current income-generating activities to yield higher returns.
Essentially, financial intelligence is key in undertaking investments, as well as sustaining and expanding them.
Investing in the future guarantees sustainable means of livelihood. Enhanced state of growth can be furthered to accumulate wealth in form of assets.
There are two major income types, namely; fixed income and variable income.
Fixed income are earnings that are not affected by external variations, like inflation, while variable income changes as external variables change. This affects performance of businesses, depending on how positive or negative or extremes the variations are. However, it is important to keep income flow stable regardless of the insecurities in the business environment, through diversification of revenue resources, research on high-value business ventures and investment in high-value business ideas. This can help create economic security in the individual business, family business, organisation understanding, or even country’s development programmes.
It is possible to overcome poverty and lack or limited revenues among individuals and organisations, through setting clear goals, changing habits that encourage waste and misuse of resources, wise use of resources, avoiding debts, investment in the future, and diversification of income sources. This ensures financial sustainability at both individual and organisation levels.