Let’s talk about creating wealth in your life. Here are seven tips that can help make your dreams become a reality!

Steps to Building Wealth…

#1. Pay Your Self First

This maybe a concept you’ve heard it before, however most people don’t do this very simple thing! We pay everybody else first! The mortgage, the car payment, the phone bill, the insurance and then at the very end if there’s something left over; we might hold on to that for ourselves and call it savings! The concept with pay yourself first is that when the money first hits your bank account, when you get your check or when you get a deposit the very first money that is withdrawn before any bills you pay your tithe & your self! You can put it in a bank account and name this as your “Freedom Fund”! Paying yourself first is a very powerful concept that if you apply can create a huge difference for you and your family for years to come.

#2. Pay Your Tithe

You’ve got to pay your tithe! It’s the first 10% of your increase that belongs to God. Cut this check 1^st along with your “Freedom Fund” check and the other 90% will have a tendency to multiply!

#3. Invest In Your Self

This is probably one of the most valuable skills that has helped us create incredible success in business and build a legacy for us and our family. Don’t be chintzy with yourself! Set a portion of every check that comes in the door aside to investing in your mind. Use this to go to personal development events, purchase books, audios or training programs that will take your skill to the next level. Make a point to invest in yourself and you will increase the value of who you are in the market place. Trust me this one discipline will be a tool that you can use for the rest of your life!

#4. Cut Out The Latte Factor:

What is the latte factor you might ask? Do you have those little things you do on a daily basis that every once in awhile could give you great pleasure but the other 90% of the time you do just out of habit? That is what we call the latte factor! Every now and again you really feel for a latte you crave it, you desire it, and you go ahead and get it. And you enjoy it immensely! However, the other 6 days of the week you end up getting the exact same latte but without the satisfaction. You do it more out of habit then actually having a deep desire for it. This is what we call the “latte factor”! Typically the average American spends an additional $3 to $5 a day on “junk”. Things that don’t really improve caliber of your life! Yet we do more out of habit or as a small convenience. Why throw away money that can multiple its significance in your future? Instead, take your 3 to $5 and invest in your “future self”. Invest in something that will pay dividends for the long run! Cut out the latte factor and start increasing your wealth today!

#5. Cross Check Expenses:

This is so very important! As a person who formerly struggled with my finances I know how this one little area can really make or break you. Saving is an awesome way to build wealth! There are things that we all need: car insurance, cell phone, homeowners insurance, groceries, ect. However you can decide whether you’re paying top dollar for it or whether you’re getting items at the best price. Now I am not saying cut quality. I am talking about not overpaying for the same caliber of goods or services. Be sure to cross examine your expenses and make sure that you’re getting the best price possible. That way you take the rest and invest it in what really matters.

#6. Invest Wisely:

This is KEY!! Now that you have been shaving away the unnecessary spending areas. It is time to invest the difference. But you must invest it wisely. Remember only a fool would put his money in a place he did not fully understand. You are not a fool! Make sure that after you’ve gone through all of the steps of paying yourself first, investing in yourself, cutting out the latte factor and cross-checking your expenses, that you invest wisely.

This would be like investing in things like your own personal business. Investing in something that will pay you dividends. Investing in something it will grow and multiply your money. Make sure you invest in something you know a great deal about. Don’t throw your money to the wind and put it in a place that you know very little, or you have little control. Make sure that the money that you have carefully gathered is put in a safe place where your principal is protected and has great ability for growth. As a side note– letting your money sit around in cash is a terrible use of those funds. It will not grow. Rather it sits there and goes down in value as inflation continues to go up. So find a good use for your money that protects your principal and allows it to multiply.

#7. Become a Student: Building Wealth for Beginners

If you really want to get ahead this one blog is not going to cut it for you. Commit to your future! Commit to learning what it’s really going to take to get you to the finish line. Here are a few recommended reading resources you can pick them up on audio and you can certainly get the original paperback book. I have read all of these one or more times. I highly suggest that you become a student of wealth creation watch and learn what others have gone before you who are wealthy do with their time talent and treasure learn and do the same.

Recommended Resources:

The Riches Man in Babylon

Money: Master the Game – Tony Robbins Free Book

Think & Grow Rich

Millionaire Next Door

Automatic Millionaire

I hope this added some value to you! There is much more to come!

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There is much more to come! I will be sharing on going business principles to Increase your Leadership, Maximize Results and help you become a TOP EARNER!!