![]() ![]() We need to ensure we practice money habits that contribute to the success of our long term financial goals. This second habit has so many applications to personal finance. Also ensuring decisions and actions reflect both long term and short term implications was noted. This was very important to me in understanding how to achieve balance. For example, a person can be work-centered thus ignoring other roles. In the book, the importance of being principle-centered was emphasized as well as the danger of having alternative centers. Then write a mission statement about how you want to live out those roles. For instance, you can think about the different roles you assume e.g wife, parent, daughter, leader, employee, and so on. I liked the idea that you can write your mission statement for different roles. Writing a personal mission statement was highly encouraged with guidance on how to do so. The idea behind habit 2 is to think about how you want to be remembered after your death, then live based on that. Without it there will be no desire to act on the other habits. Being proactive is definitely the most important habit to start with. My workload was still the same but my attitude had changed. That shift in perspective gave me so much clarity. I realised it will be a once in a lifetime opportunity to bond as a family. But I decided to change perspective and chose to see the positives. I struggled to cope with work, homeschooling, and so on. When we started the first lockdown in the UK, it was a bit shocking, stressful, and difficult at first. Therefore proactivity is about taking responsibility for the things in our circle of influence. We identify our circle of concern and circle of influence, then we focus time and energy on our circle of influence. Stephen provides a proactive model that is very interesting. Being proactive takes initiative and a decision to be self-aware. Private victories precede public victories, so fully adopting habits 1-3 is a prerequisite for 4-7. The private habits (1-3) deal with self-mastery (independence) and public victories (habit 4-7) is about interdependence. Private victories (habit 1-3) and public victories (4-7). The 7 habits are grouped into 2 categories. However, developing a habit is a process and to achieve gowth in effectiveness, we need to embrace the process. In today’s world of instant gratification, process and waiting are painful events. Particular emphasis was given to the principle of growth and change and why we should accept and embrace the process. His portrayal that principles are the territory and values are the map is a bit confusing but I guess it means our values always point to the principles we hold dear. I reckon this is important because sometimes we use principles and values interchangeably. He also makes the distinction between principles and values. Stephen describes principles as lighthouses and natural laws that cannot be broken. Principles, character and values are a common thread in the book. ![]() “The more aware we are of our basic paradigms, maps or assumptions, and the extent to which we are influenced by our experience, the more we can take responsibility for those paradigms, examine them, test them against reality, listen to others and be open to their perceptions thereby getting a larger picture and a far more objective view”. The following is one of the best quotes from the book to start the journey towards change The book reiterates how much powerful conditioning, either through upbringing and experiences, colour our perspective. One of the most powerful messages from the book is that, for change to occur, there must be a paradigm shift. It is important that how we view money and success is based on sound principles. This resonates with my money philosophy and how I believe the focus should be on creating value not making money and how in doing so we can still generate wealth. The central theme of the book is that incorporating new habits starts from the inside out (building character). The caveat is that one’s personality has to be an offshoot of character. I believe a combination of character and personality is required for success. The character ethic, which teaches basic principles of effective living and assumes people can only experience success by integrating these principles into their basic character and the personality ethic, which is to do with human and public relations and a positive mental attitude. Stephen Covey compared two schools of thought in defining success. Habit 6 – Synergise: principles of creative cooperation.Habit 5- Seek first to understand, then to be understood. ![]()
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