|Wealth Building Information|
The Top 10 Steps to Extraordinary Personal Wealth
I recently came across startling figures about the average American's finances. Only 4% of us have significant savings when we hit age 65, and a majority of Americans have less than $1000 in savings. Perhaps even more troubling, nearly one-fifth of us have a negative net worth, meaning that we owe more in debt than the total value of our combined assets. In a land of wealth and opportunity, and in an age of unlimited freedom, attaining wealth is primarily a matter of choice and determination. The following are my suggestions for rapidly increasing your personal income and wealth.
1. Develop a healthy awareness of money. Most of us either ignore our cash flow and don't have a budget, or we think of money as a "problem". Instead, begin thinking of it as energy, as a resource and as a tool to be managed and used wisely.
2. Develop a healthy desire for money. Money is neither evil nor the source of happiness. It is a tool that can be used well or badly, but most importantly it can be used to achieve many of life's dreams and priorities. Having more of it increases your choices, and your responsibility.
3. Develop a healthy personal foundation. It is difficult to attract or keep money if your life is in chaos. To achieve significant wealth, pay attention to your attitude, your relationships, your values and your integrity. Money tends to flow to those who are prepared to handle it well.
4. Resolve ALL addictions. Substance abuse will obviously undermine any real ability to attract and manage large amounts of money, but other addictions are equally dangerous. Addictions to shopping, drama and excitement, to power or sex or a need to have the newest gadget will all destroy freedom of choice, and your ability to handle money responsibly.
5. Spend less than you make. An obvious point that most of us ignore. Have and use a budget, track your cash flow, decide what you need compared to what you want. Unless you use credit cards as a tool to monitor your spending, avoid using them at all. If you're living on credit, juggling one card against another, get professional help!
6. Save a significant amount. Most experts recommend paying yourself first and saving anywhere from 5% to 20% of your income. The amount or percentage that you save is probably not as important as the principle. If at first you only save 1%, make that deposit every single week, do it without fail, and congratulate yourself! Even 1% is a great beginning!
7. Cut your spending by 25%. That's a huge amount! For most of us, it's also entirely possible. Take your lunch, buy less junk, rent a movie instead of going to the theater, make a picnic instead of dinner at a restaurant, re-cycle and repair rather than throwing things away and buying new. Live cheaper, simpler and closer to the earth.
8. Learn the principles of investing. Most community colleges have courses on investing in stocks, real estate, commercial property and even collectibles. Pick your preference, study hard, buy smart, and let your money work for you rather than you always working for money. But, never try to get rich quick! We're talking about investing, not speculating.
9. Develop long-term passive income. Whether this is interest from bonds, profits from a business, or residuals from your last TV commercial, develop assets that will generate positive cash flow for years to come, whether you are working or not. Rental property has been a favorite, but so are stocks and mutual funds.
10. Develop wealth consciousness! This is a conscious, specific desire to be aware of money, to have money, and to use money to reflect your values and your priorities. Some of us virtually choose poverty because of our refusal to take responsibility for how we handle money. Others, live as misers and never use money to expand their horizons and develop their lives. You can decide to have a healthy, exciting and profitable relationship with money. Choose wisely. Start today!
� Copyright 2003 by Philip E. Humbert. All Rights Reserved. This article may be copied and used in your own newsletter or on your website as long as you include the following information: "Written by Dr. Philip E. Humbert, writer, speaker and success coach. Dr. Humbert has over 300 free articles, tools and resources for your success, including a great newsletter! It's all on his website at: http://www.philiphumbert.com
How To Be the Ultimate American Consumer
Feel like a lemming lately? Ready to follow the crowd into the great plunge of Ultimate American Consumerism? Just in case you need a little help, here is a tongue-in-cheek look at how to continue the process of becoming the Ultimate American Consumer!
Get Rich Doing What Others Dont
"The quickest way to wealth
One Pipeline Is Worth A Thousand Paychecks
It is with great pleasure of having you here at this hour. Let me get it straight and be honest with you at the very outset. First of all, I'm not going to sell you anything here. And second of all, if you are hoping that you could learn some tricks to earn Quick & easy Money, you are definitely in a wrong place.
8 Tips for Keeping More of Your Hard Earned Money
Masters degree not required...just a little common sense, a $5.00 calculator and a realistic plan is all you'll need.
The Wealth Connection ? 2 Steps to Brighten Your Golden Years
Estimated Reading Time: 4 minutes -- Envision your life 10 or even 20 years from now. Where do you plan to be? What are you doing and with whom?
Who Else Wants To Know Oprahs Secrets To Wealth & Success?
Before I had a lot of money, I was really quite happy," said Oprah Winfrey. "And I will tell you this--you may not believe it--I never would have gotten the money if I wasn't happy to begin with. I never would have gotten it."
Saving Money - 35 Pieces of Advice to Save
There are only 2 ways to grow your wealth - Increase your income (by earning more and saving more) or decrease your costs.
A Completely New Way To Get Rich Rapidly
This new way is catching on around the world. People are compounding money rapidly for themselves.
Does the Moon Have Covers?
Recently, one late winter night, my four-year old son and I counted stars with one another. After a few minutes, he pointed to the bright moon and asked, "Why doesn't the moon have covers?"
Net Worth Nympho
There are plenty of people who are in love with their bank books. In life, there will always be extremists.
Before There Was Wall Street, There Was Gold.. & when Wall Street is gone, there will still be Gold
Paper burns and large companies can go bankrupt, but if you want a piece of the solid rock, go for Gold. Financial experts agree that the rising value of gold, which has climbed since 2001 to a 16 year high of $456 (U.S.) an ounce, is going to be spurred on in 2005. Precarious world situations, from political turmoil to flailing currencies, are taking a toll on the trade markets. The cry for stability and future security is high on the priority list for North Americans and can also be heard pulsating around the globe. Gold, along with the precious metal industries, is emerging as a reliable anchor for many investors at home and abroad.
Top 7 Ways To Get Rich
Want to be one of the lucky ones on the road to riches, want to be on the freeway to financial freedom, on your way to wealth?
Real Estate Stories that Show You How!
Let's begin easing you out of the pits. I mean, comfort zone! I'm going to slowly and methodically give you as many little sparks and insights to the relatively simple ways that ordinary people use real estate to achieve extraordinary results.
Creating Money, Prosperity, and Abundance Now (Part 2)
Giving and Receiving
The Making Money Obsession - Discover The Real Truth
In most societies, we are raised to believe in the myth that "it's spiritual to be poor". Or we use such phrases as "filthy rich", or "Money is the root of all evil". Our TV and movies present the big businesses as the "bad guys", and programs our minds to believe that being rich is "bad".
Ben Franklin Didnt Quite Get it Right
When Ben Franklin said "a penny saved is a penny earned", he didn't quite get it right. Actually, a penny saved is worth more than a penny earned. Do you find this statement shocking? I am about to prove to you that what I'm saying is true.
Wealth Building Strategy
There are many of us who are working on our wealth creation strategy. Wether it be working another job, starting a small home based business or seriously building knowledge on the share and property markets, those that are serious are looking.
The Underlying Belief System
Many of us do not consider the underlying belief system about money to be of any importance. You think it does not matter, because what matters is what you do now. Right, at one level, but not complete. All ideas that we have learned about money in the past are colouring our actions today.
Anthony Robbins 12 Reasons Why People Dont Get Wealthy
According to Wallace Wattles, in his popular wealth treatise called the Science of Getting Rich, said that, "There is a science of getting rich, and it is an exact science, like algebra or arithmetic. There are certain laws which govern the process of acquiring riches, and once these laws are learned and obeyed by anyone, that person will get rich with mathematical certainty."
Residual Income - The Myth
"Join our program and retire in 3 months..." yeah, right.
|home | site map|