When we talk about standards, we are referring to a set of established rules or principles that serve as a model or a reference point. Having standards is important not only in our personal lives but also in our financial well-being. In this blog post, we will explore why having standards is crucial to creating financial and personal freedom and offer some steps to start developing your own standards.


The Path to Freedom


Having standards means we understand and acknowledge our values, which in turn shapes our decisions and behaviors. When we adopt standard practices, we give ourselves a clear foundation upon which to make decisions so we don’t feel overwhelmed or uncertain.


When it comes to financial freedom, standards are particularly important. Often, people find themselves drowning in debt or living beyond their means because they have not set financial standards for themselves. With financial standards, you can create a budget, set saving goals, and diligently manage expenses.


Personal freedom is also rooted in standards. Standards such as honesty, respect, and self-care can help us create healthy boundaries in our personal relationships, communities, and workplaces. The freedom to live according to our values, goals, and principles can only be achieved by establishing standards.


The Benefits of Having Standards


Having standards can bring many benefits to your life, both personally and financially. For one thing, having standards can help you boost your self-esteem and confidence as you learn to respect yourself and your values.


For another thing, having standards can help you attract the right people and opportunities into your life as you become more selective and intentional about who you associate with and what you pursue. Furthermore, having standards can help you achieve your goals faster and easier, as you have a clear direction and focus for your actions. 


Having standards can also help you avoid unnecessary stress and frustration, as you eliminate distractions and obstacles that are not aligned with your standards. In short, having standards can help you live a more satisfying and fulfilling life.


The Challenges of Having Standards


While having standards can be beneficial, it can also pose some challenges that need to be overcome. 


For one thing, having standards can make you more vulnerable to criticism and rejection, as you may face opposition or resistance from others who do not share your standards. For another thing, having standards can make you more prone to perfectionism and self-doubt, as you may set unrealistic or unattainable expectations for yourself or others. Furthermore, having standards can make you more rigid and inflexible, as you may have difficulty adapting to changing circumstances or accepting different perspectives. 


To overcome these challenges, you need to be open-minded and resilient. You need to be willing to listen to constructive feedback and learn from your mistakes. You also need to be compassionate and forgiving towards yourself and others. Having standards does not mean being flawless or superior; it means being authentic and consistent.


How to Develop Standards


Developing standards is a process that takes time and introspection, but it is an essential part of achieving financial and personal freedom. Here are 6 steps to develop your own standards:


  • Identify your values: Knowing what matters to you in life is crucial in establishing standards. Reflect on what you want to achieve, what kind of person you want to be, and what principles you want to live by.


  • Define your standard practices: Once you have identified your values, think about what practices would help you achieve them. For example, if your value is honesty, your standard practice could be always telling the truth, even when it is uncomfortable.


  • Set goals: Goals are a great way to ensure that you are implementing your standards. Consider what you want to achieve regarding your values and standard practices and set goals to keep yourself accountable.


  • Create action plans: Once you have your goals, break them down into manageable steps that you can take daily or weekly. 


  • Monitor your progress: Track your achievements and challenges along the way. Celebrate your successes and learn from your failures. Adjust your plans as needed if you encounter any obstacles or changes in your situation.


  • Stay consistent: Implementing standards is a process that requires consistent application. It takes time to create habits and make them part of your everyday life.


Final Thoughts


Establishing standards is an essential part of creating financial and personal freedom. Standards help us stay true to our values, set boundaries, and achieve our goals. The process of developing standards may seem daunting, but with patience and persistence, it is achievable. Remember, creating standards is a journey, and there is no one “right” way to do it. The crucial step is to start, set your values and goals, and continue to work towards your own vision of financial and personal freedom.

Millionaire Mornings with Arash Vossoughi

Free guide to have a millionaire morning