Friday, December 23, 2011
Simple But Life Changing
How do you become wealthy? Does a multi millionaire just magically become rich? Do they wake up one morning with a million dollars in the bank? Well, the answer is no, it is through diligence, hard work and allowing your money to work hard for you that makes a person wealthy. Most wealthy people start with nothing just like you and I. The good news is that we have even more opportunity today than ever before to become wealthy. In order to become a millionaire though, you must first become worth a thousand dollars and then ten thousand dollars and so forth until you become a millionaire. It is not an overnight process but by taking simple steps anyone who wants to achieve great wealth can. I believe one of the greatest principles to building wealth, is the ability to save and invest on a consistent basis. If you are unable to do this, your chances of becoming wealthy and retiring are going to be greatly diminished. There are many people who know the power of this simple principle but yet fail to practice it. If saving money is difficult for you then here is what I suggest. Set up a savings account completely separate from your checking account. Don't allow yourself access to this account with a debit card, checks or any automatic withdrawals. This account should only be used for building wealth, it is not used to purchase new shoes, a car, or the latest gadget. The only time you allow money to be withdrawn from this account is to purchase assets such as stocks or rental property. You should put money in this account as if it's a bill you have each month, just like you pay your rent, car payment, or any other bill. I would challenge you to try this out for six months and see how much money you can save. It will make you think differently and become much more diligent with your finances.
Saturday, December 10, 2011
Thinking About The Future?
Guess what? The future will be here before you know it. Are you setting yourself up for success or failure? In life we make choices every single day, whether good or bad, big or small, wrong or right. Every choice we make will determine who and where you are five, ten and even twenty years from now. I see to often people who live for the moment. They give no regards to the future. They spend all their money on eating out, new clothes, and cars they really can't afford. Don't be a person like this! Give more thought to your current choices. If people could see how every choice they make affects their life, they would choose different ones. I guarantee it. Where do you see yourself in the years ahead? If your single and want to be married soon, what are you doing to prepare yourself for your future spouse and family? Are you saving your money? Are you giving your all at your job? These are things to think about now and not later in life. If you want to retire young and travel, are you taking the steps necessary to achieve that dream? Start thinking and quit living for the moment, you will be grateful you did!
Sunday, December 4, 2011
5 Principles Needed To Become Financially Free
1. Save and invest every month
It doesn't matter how much you save monthly. What's important is that you are putting away something consistently every single month. Even small amounts of money put aside diligently can grow tremendously if invested wisely. $200 invested monthly gaining 10% in interest can grow close to a million dollars over the course of 40 years. If you grasp that principle at 20, you could be worth almost a million dollars by the age 60. $200 a month is very doable, just imagine if you could invest $500-$700 a month. Think about how many millions of dollars you would have using that same example. By Simply cutting out $5 lattes at Starbucks would allow some people the ability to invest that amount of money monthly.
2. Set goals
Having goals is very important. The reason is that without goals you will have no reason to save your money and invest it. You will not care where your money is going and will spend everything you make. With written down goals you will always ask yourself before spending money, "will this choice I am about to make, get me closer to my dreams or further away from them". Goals cause your unconscious mind to go into action and constantly think about how you can achieve your goals faster. It will cause you to be more creative and think more efficiently in all areas of life. Here's an amazing quote I love, "If you do not have clear goals, you are forever condemned to work for those who do" . Set a goal and stick to it!
3. Always be reading a book
It is very important that we are constantly learning and expanding our minds. People too often think that after they are done with college or high school their education stops, but that should be the exact opposite. That is when real life truly begins. By simply reading even a half hour a day you could read a book a month. That's 12 books a year! You could become an expert on just about any subject. If reading is something you don't particularly enjoy you can listen to audio books or download podcasts. There are many other creative ways we can learn, it doesn't matter exactly how we do it, but that we do, DO IT! People who do not read are no better off than a person who is unable to read.
4. Take responsibility
No matter where you come from in life, whether you grew up poor, didn't have a good home life or were taught nothing about finances, you are still responsible for your future. You cant pay someone else to do your push ups. You are 100% responsible for you. Take responsibility and don't blame others for anything.
5. Take Action
Its great to sit and talk about financial freedom and building wealth, but in reality that won't do you any good if you do not take action. You could have the most amazing money making or business idea out there, but without taking action you are no better off than the guy who watches T.V. all day. Take your ideas and go for it. Dont allow fear of failure to control your life. Failing is a part of life, so get used to it. If you had an idea that didn't work out in the past then who cares, move on to the next one. The more times you try something, the greater the chance of success. Find what your good at and stick to it.
It doesn't matter how much you save monthly. What's important is that you are putting away something consistently every single month. Even small amounts of money put aside diligently can grow tremendously if invested wisely. $200 invested monthly gaining 10% in interest can grow close to a million dollars over the course of 40 years. If you grasp that principle at 20, you could be worth almost a million dollars by the age 60. $200 a month is very doable, just imagine if you could invest $500-$700 a month. Think about how many millions of dollars you would have using that same example. By Simply cutting out $5 lattes at Starbucks would allow some people the ability to invest that amount of money monthly.
2. Set goals
Having goals is very important. The reason is that without goals you will have no reason to save your money and invest it. You will not care where your money is going and will spend everything you make. With written down goals you will always ask yourself before spending money, "will this choice I am about to make, get me closer to my dreams or further away from them". Goals cause your unconscious mind to go into action and constantly think about how you can achieve your goals faster. It will cause you to be more creative and think more efficiently in all areas of life. Here's an amazing quote I love, "If you do not have clear goals, you are forever condemned to work for those who do" . Set a goal and stick to it!
3. Always be reading a book
It is very important that we are constantly learning and expanding our minds. People too often think that after they are done with college or high school their education stops, but that should be the exact opposite. That is when real life truly begins. By simply reading even a half hour a day you could read a book a month. That's 12 books a year! You could become an expert on just about any subject. If reading is something you don't particularly enjoy you can listen to audio books or download podcasts. There are many other creative ways we can learn, it doesn't matter exactly how we do it, but that we do, DO IT! People who do not read are no better off than a person who is unable to read.
4. Take responsibility
No matter where you come from in life, whether you grew up poor, didn't have a good home life or were taught nothing about finances, you are still responsible for your future. You cant pay someone else to do your push ups. You are 100% responsible for you. Take responsibility and don't blame others for anything.
5. Take Action
Its great to sit and talk about financial freedom and building wealth, but in reality that won't do you any good if you do not take action. You could have the most amazing money making or business idea out there, but without taking action you are no better off than the guy who watches T.V. all day. Take your ideas and go for it. Dont allow fear of failure to control your life. Failing is a part of life, so get used to it. If you had an idea that didn't work out in the past then who cares, move on to the next one. The more times you try something, the greater the chance of success. Find what your good at and stick to it.
Monday, November 28, 2011
The Power Of Our Thinking
You ever hear the phrase you are what you think? You are what you speak? Well I believe this to be very true, no questions about it. In fact there are scriptures in the Bible that say so. Psalms 34:13 keep your tongue from evil and your lips from speaking deceit. Proverbs 18:21 Death and life are in the power of the tongue: and they that love it shall eat the fruit thereof. Ask yourself this, do I think and speak negatively or do I speak and think words of life? I would like to encourage you to think about this for a moment! The way we think and talk is so important. It determines where we go in life and the way we are viewed by others. Be known as someone who only uplifts, someone who motivates people to be all they can be. Don't be a person who tears apart or shuts people's dreams and ideas down? When friends or family come to you with an idea or A dream they have, give them encouragement. Tell them to go for it, give their all and don't give up.
Did you no you can achieve any goal or dream you desire? If you desire to be wealthy, you can! If your dream is to fight poverty, become an oversees missionary, build a business, you can. The only thing that can stop you, and I mean the only single thing that can and will stop you, is you. We need to get this idea out of our minds that our culture has put on us, that some people are just better and smarter than us. That is nonsense, God has given us all powerful brains, able to achieve anything. J.r. Simp lot, a man who was worth almost a billion dollars before he died, didn't even have a high school education. It's a good thing he didn't allow people to tell him he couldn't succeed. It's true we each have different talents and abilities. Not everyone can do everything but we can certainly all do something. Instead of using the words like, "I can't afford that" or "I'm not smart enough" why don't you ask yourself, "how can I afford it" or "how can I become smart enough". Get foolish thinking and looser words out of your life. They will bring you down and keep you from your full potential. What are your goals/dreams in life? What is it you want to achieve? Think about it, write down your goals/dreams and go for it! Don't allow negative people, including yourself to determine who you become!
Did you no you can achieve any goal or dream you desire? If you desire to be wealthy, you can! If your dream is to fight poverty, become an oversees missionary, build a business, you can. The only thing that can stop you, and I mean the only single thing that can and will stop you, is you. We need to get this idea out of our minds that our culture has put on us, that some people are just better and smarter than us. That is nonsense, God has given us all powerful brains, able to achieve anything. J.r. Simp lot, a man who was worth almost a billion dollars before he died, didn't even have a high school education. It's a good thing he didn't allow people to tell him he couldn't succeed. It's true we each have different talents and abilities. Not everyone can do everything but we can certainly all do something. Instead of using the words like, "I can't afford that" or "I'm not smart enough" why don't you ask yourself, "how can I afford it" or "how can I become smart enough". Get foolish thinking and looser words out of your life. They will bring you down and keep you from your full potential. What are your goals/dreams in life? What is it you want to achieve? Think about it, write down your goals/dreams and go for it! Don't allow negative people, including yourself to determine who you become!
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