One observation that has both fascinated and frustrated me is that very few people actually attain the financial success that they dream about, while so many people seem to exist without a sense of direction towards achieving any goals.

I have had many opportunities to examine the attitudes and actions of persons who seek my advice about their money problems. Very often, I would give recommendations to two persons in similar situations, yet only one would follow my counsel and achieve success, while the other would continue along a financially destructive pathway.

Many years ago, as I searched for solutions to improve my own money situation, I realised that I had to understand the forces that could help one person to achieve, and the impediments that could hinder another from getting ahead in life. I thought that if I could learn and follow the habits of success, and identify and avoid behaviours that led to failure, then I too could join the ranks of the financially successful.

Over the past few weeks, we have been looking at some of the resources that helped me to unearth the secrets to money success. The ability to continually set and achieve goals is one of the most important elements in creating a prosperous financial future. Without a plan for your money, you are likely to spend it carelessly and will eventually end up regretting many of your choices.

Fortunately, there are many excellent books available which can help you to learn the steps towards goal achievement. Some of the titles that were indispensable in providing me with solutions included The Magic of Thinking Big by David J. Schwartz; Napoleon Hill’s Think & Grow Rich; The Power of Positive Thinking and Positive Imaging by Norman Vincent Peale; and Brian Tracy’s Maximum Achievement.

By reading extensively, as well observing the habits of high achievers and those who fail to achieve, I have been able to identify some of the main problems that prevent many people from getting ahead financially and in other areas of their lives.

Lack of vision

“What do you want out of life?” Many people have no answer for this question, as they have never stopped to think about it. Others often express vague wishes for material things such as a home or more money, without having any clarity on the specifics surrounding them.

“There is one quality which one must possess to win, and that is definiteness of purpose, the knowledge of what one wants, and a burning desire to possess it,” Napoleon Hill declares. You must develop a very clear intention about your future if you are going to change your finances.

Lack of belief

Too many people destroy their own dreams because they don’t really believe in themselves or their ability to achieve them. “When the mind disbelieves or doubts,” David Schwartz reveals, “the mind attracts ‘reasons’ to support the disbelief.”

Your mental strength plays a key role in your ability to succeed at any goal. Norman Vincent Peale points out that “when you want to achieve something, hold in your mind the picture of yourself achieving it…you are never defeated until you accept the image of defeat.”

Lack of planning

Even if you have a specific vision for yourself and you really believe that it can be achieved, you will not be successful without creating a plan of action. Planning will help you to know exactly what steps you should take in order to move from where you are today to your desired destination.

According to Brain Tracy, to create an effective plan you have to “write out in detail, what you want, when you want it, why you want it and where you are starting from.” You also have to consider the possible obstacles, information you will need and the people who can help you to attain your goal.

Lack of action

Sometimes people will be positive about what they are going to do, but they never succeed because all they do is talk about. They neglect to immediately carry out the first step on the action plan that will take them along their journey.

When you get started on your goals, you should not allow yourself to slow down or stop. “You must develop the success habit by doing something every single day to move you toward your goals,” Tracy explains. “Always be looking for something you can do to contribute to their achievement.”

Abundance of fear

Every book that I have read confirms that fear is the number one obstacle that prevents people from attaining their goals. “When worry becomes really acute,” Peale affirms, “it can clamp down on the mind like a vise, blotting out all rational thought processes.”

“Fears are nothing more than states of mind,” Hill declares. If you can control your state of mind, then you can conquer fear. Schwartz stresses that you have to isolate your fear by determining exactly what you are afraid of, and then take action promptly to counteract the thing you fear.

Discovering the principles of goal achievement is an important step towards creating a solid financial future, so I encourage you to read widely on this topic.

Cherryl is a financial consultant and money coach, and founder of Financially S.M.A.R.T. Services; she is currently writing her first book, “The 3 Ms of Money.” Get more practical financial advice at www.financiallysmartadvice.com and free financial tools at www.financiallysmartonline.com. Please email comments to cherryl@financiallysmartonline.com