There was a time when I was a news junkie. Now all I look for is news that will make my money smarter.

My old news-addicted days was when I was recruited from academia to write for The Daily Telegraph in opposition to my journalist hero, Ross Gittins, in the Sydney Morning Herald, when contracted by Triple M to be the business and political commentator on its national news service.

Reading the ‘highbrow’ analysis of legendary economists and my contemporaries gave me the way to explaining the new world of economic deregulation delivered by then PM Bob Hawke and Treasurer Paul Keating.

I read four newspapers a day. I listened to radio in the car. When working from home, I’d actually watch TEN news at 5, roll into Nine News at 6, ABC news at 7 and finish off with Kerry O’Brien on the 7.30 Report!

Those were the days when I had to be ‘jack of all trades’. Nowadays I don’t want to be a “master of none” (as the old saying goes). I want to be a master of “one”. That one is how to help my clients, subscribers to our Switzer Report, readers to our Switzer Daily and my followers on radio, TV and LinkedIn on how to build their wealth.

While that doesn’t mean I don’t scan all types of news, nowadays I use a narrower filter. That filter is looking for relevant information coming out of government, corporate and social movements that will impact my current and future investments.

While these stories are interesting, I don’t care if the PM’s married or not, or if Taylor Swift is taking on Donald Trump. I can’t make or lose money on these headline-grabbing news items.

I’ve been influenced by one of the great business speakers I’ve ever worked with i.e., John Maxwell, who wrote the book The 21 Irrefutable Laws of Leadership.

When I MCed Maxwell around our country, he made the point that “You don’t learn leadership in a day, but daily!”

I believe that same rule applies to everything.

When you’re trying to swim faster, hit the golf ball longer or play the guitar sweeter, it’s practice that puts you on the road to perfection.

When it comes to building wealth, there’s one piece of advice I give: “You learn about money, not in a day but daily.”

Clearly, it’s a good start to read my website daily, along with other credible money news outlets. If you recognise you need help with setting your money goals and creating the portfolio of investments to make those material dreams come true, then it’s wise to seek professional help.

Recently, my wife Maureen did a speech at Parliament House for International Women’s Day. As she likes to support a good cause, she kept bidding at an auction where the proceeds went to a women’s shelter

She placed a bid on a 3-month gym program that she gave to me, as she thought I needed it! While a long relationship can deliver brutal honesty, she was right. Now I’m stronger than I’ve been in ages and I am a gym junky!

I’m doing fitness exercises daily. I’m getting fitter. The same applies to your financial fitness.

So, the question is this: If you really care about getting financially more successful and wealthier, what are you doing about it?

When I interviewed Rockpool founder Neil Perry many years ago, he talked about doing a S.W.O.T analysis on his business. S.W.O.T stands for strengths, weaknesses, opportunities and threats that become the basis of corrective actions for smart business owners to take.

Perry said his business coach suggested he do this on himself as a leader of the business. The analysis told him he was misallocating his valuable time. And the strategies he created with better time allocation largely explained his success in the restaurant and catering game.

I recommend you S.W.O.T yourself when it comes to money knowledge and wealth-building. If your threats and weaknesses seem likely to undermine your goals to get wealthier, then change your daily actions, or get help fast!

The quote I use when someone tells me that they don’t have time to get money smart or the money to pay for advice is this: “Work out what you want. Work out the price in terms of time or money. Then pay the price!”