Creating Wealth and Peace of Mind.
This has got to be one of the most important areas to learn and grow in. Yet most people do not talk about it! They may talk about making money, but most of the time they do not talk about keeping it and growing it!
We’re going to get into eight crucial areas that will help you do both!
Money Mastery Tip Number 1: Watch Your Expenses! This is an area where it is very easy to let things get out of control. Often times we have a set it and forget it mentality. it is important from time to time to double-check how much you are spending. Oftentimes you can save without compromising the quality of what you’re getting. Good examples of this are by cross checking your insurance, phone, and internet. Also look for ways to buy smarter. Get the things that you will use on a continual basis in bulk at Costco or Sam’s Club. This helps you save big time in the long run.
Money Mastery Tip Number 2: Cut Out the “Latte Factor”! What is this you may ask? Many of us often spend frivolously on things they do not increase the caliber or quality of our life. One example of this is the latte. Sometimes we really feel up for the latte. And then it is fine to get it. But other times we end up getting it really out of habit. Even though our desire for it is not really that great. Do you know what I’m talking about?
So the next time you go to make a frivolous purchase on something that is seemingly small and insignificant; examine if it is really necessary at that point. Be it the latte, coffee, water, or any time you might drop 3 – $5 on something you don’t necessarily need. If you add that up over the course of a year you could be saving hundreds and even thousands of dollars!
Money Mastery Tip Number 3: Get Your Money Working for You! This is very important. If your money is not working for you it is actually going backwards. If you have it sitting in a savings account or under a mattress somewhere, it’s not even keeping up with the cost of inflation! So put your money someplace where I can earn a return on your investment. Something that you know something about that will help you grow your assets.
Money Mastery Tip Number 4: Own a Home. When you look at the Millionaire Mind book, one of the most important things that they talk about is home ownership. Your home can become one of your biggest assets and in most cases it usually is. Purchase a home and begin building equity in something that will last the test of time.
Money Mastery Tip Number 5: Don’t Carry Debt on Credit Cards. This may seem like an obvious one, however most Americans are walking around with $7,000 or more of debt. If you do have credit card debt and you have it on more than one card. Focus on attacking one at a time. Knock them out one by one until you have zero credit card debt. Then commit to staying out of debt for the duration! This will save you thousands!
Money Mastery Tip Number 6: Live within Your Means and Invest The Difference. This is extremely important! I don’t care if you make $40,000, $400,000, or four million dollars. If you spend more then you earn you will be broke! There are no buts about it! So I recommend living on 70% or less of your income. You can invest the difference. A great way to go is to tithe 10%, put 10% into a freedom fund, and put 10% back into personal development and investing in your business.
Money Mastery Tip Number 7: Make it Automatic. THIS IS SO BIG! It’s one of the things I learn from David Bach in the Automatic Millionaire. You have to make it easy and you have to make it automatic. So every time a check comes in make a point to transfer the money right away or if you can make it automatic! A portion goes to savings, a portion goes to your Freedom Fund, a portion goes to personal development and a portion goes to Tithe.
The more automatic you can make it the better! Experts say that creating wealth is more about your habits than how much you make. There are people that only earn $40,000 a year that become millionaires because of their fantastic habits they have revolving around managing money. They’re also people that make very, very high incomes yet have no actual net worth because they have poor money management habits.
Money Mastery Tip Number 8: Tithe
This is the first 10% of your increase. Always give back 10% and sow it into God’s kingdom… It says when you do that that God will open up the windows of heaven and pour out a blessing so great that you could not contain it!
Now you may say, 10% is huge! And there’s no way you can do that, because you barely make it on what you have. However, I found that when you put God first everything else comes into line. It seems like there were times in my early years when things were lean and we decided to do this anyways, in doing so it seem to multiply the rest of what we had!
So these are the eight principles for creating wealth and peace of mind! Take them, use them, apply them. And when you do, your money will begin working for you!
Here is the link mentioned in this video: 4 ESSENTIAL ELEMENTS to ATTRACTING PROSPECTS TO YOU on Social Media These are things that I use all of the time! Download the MP3 and You can begin attracting Prospects ASAP! I know this will help and I am excited for the results you will get!
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!! Be Blessed & Live Victorious!
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