The word I\u2019ve chosen is \u2018less\u2019 (or, in some contexts, \u2018fewer\u2019 because grammatical correctness matters to me!) <\/p>\n
Given this is a financial column and I\u2019m a financial adviser, shouldn\u2019t it be \u2018wealth\u2019 or \u2018growth\u2019, or even just plain old \u2018more\u2019, you ask?<\/p>\n
No. Because I believe choosing less of what I don\u2019t want is the key to achieving more of what I do.<\/p>\n
Do I want to be more financially successful? Absolutely. But financial success doesn\u2019t just come from adding more \u2013 it often needs to come from subtracting too.<\/p>\n
I\u2019ve lost count of the number of people I\u2019ve met with who earn great money but end up making less progress than many middle-income clients. They may earn well, but they\u2019re stressed, they\u2019re running hard on a hamster wheel getting nowhere, and they\u2019re burnt out. <\/p>\n
This year, I want less of all of that.<\/p>\n
With the end of maternity leave looming, I\u2019m thinking as hard about what I don\u2019t want as what I do, because each decision I make is a building block in the future I\u2019m building for my family. <\/p>\n
Those who manage to get ahead faster have many things in common – and the more I think about it, the more those themes come back to \u2018less\u2019. <\/p>\n
I don\u2019t just mean they spend less so they have more money leftover \u2013 although that\u2019s part of it.<\/p>\n
They spend less time accumulating \u2018stuff\u2019, spend less time looking over the fence at the Joneses, and less time procrastinating. <\/p>\n
That clears the space, the funds, and time for what they truly value \u2013 and I think that\u2019s where the magic happens. <\/p>\n
Here\u2019s why it matters.<\/p>\n
Having lots of stuff can cost you in ways you don\u2019t always clock. Not only do you spend money buying it, but you spend money maintaining it, cleaning it, insuring it, repairing or replacing it. Then there\u2019s the bigger house – or storage shed – to keep it all in! Buying stuff costs money \u2013 but so does owning stuff. As a teen, my friend\u2019s dad used to say to me that the best boat is someone else\u2019s (and he was kind enough to let me enjoy his, but his point was \u2013 owning one is a money sink!).<\/p>\n
Keeping up is not only inherently an expensive and exhausting exercise, but it also directs your efforts towards looking wealthy, rather than becoming wealthy \u2013 and they\u2019re poles apart. One is fuelled by debt and stress (and, let\u2019s be honest often vanity); the other is achieved through consistency and choices that no one oohs and ahhs over (or tends to envy).<\/p>\n
Sitting in analysis paralysis for months costs time, energy and opportunities pass by. Those who get ahead don\u2019t keep a \u201ctoo hard\u201d basket they\u2019ll get to \u2018one day\u2019. They don\u2019t wait for the stars to align for the \u2018perfect\u2019 moment. They make decisions, get moving, and keep evolving \u2013 even if it\u2019s not perfect. <\/p>\n
So, here are just a few of the things I\u2019m doing to put my word of the year into action.<\/p>\n
My household possessions are in the process of being ruthlessly edited \u2013 I want to own less \u2018stuff\u2019. If it\u2019s not useful or beautiful \u2013 it\u2019s on borrowed time. Clutter must have been part of my mental load, because I\u2019m only partway through the process and I already feel calmer. Plus, as a little perk, donating items made me feel good, and on-selling some has given me a bit of cash. Intangible \u2018stuff\u2019 is next on my \u2018declutter\u2019 list \u2013 because how many streaming services can you possibly watch at once?!<\/p>\n
I\u2019m reviewing the things that prompt mindless consumerism (or just mindlessness) to remove triggers to spend money or time on things that don\u2019t matter. I\u2019m \u2018unsubscribing\u2019 to marketing emails \u2013 Gmail even has a helpful new tab for this \u2013 and I\u2019m \u2018unfollowing\u2019 social media influencers. I\u2019m also removing Apple Pay from my phone \u2013 because I think less convenience is a helpful circuit breaker. <\/p>\n
I\u2019m emptying the \u2018too hard\u2019 basket by setting aside time to plough through the financial admin. I\u2019m setting up systems to simplify, automate and schedule \u2013 less complexity is the goal. <\/p>\n
There isn\u2019t a button you can click to achieve the goal of less comparison, although less time on social media will help. I\u2019ll also be reminding myself that the only real measure that matters is \u2018me\u2019 compared to \u2018past me\u2019. <\/p>\n
I\u2019m setting aside a few hours to align with my husband on what we don\u2019t want, as much as what we do \u2013 because our time, energy and money is finite, we need to intention about how it\u2019s spent. <\/p>\n
By focusing on \u2018less\u2019, I\u2019m not aiming for a year of deprivation \u2013 I\u2019m aiming for a year of clarity and calm. <\/p>\n
I won\u2019t nail it perfectly \u2013 but that\u2019s another \u2018less\u2019 to add to the list: less perfection, more progress.<\/p>\n