Tips for Stress free life > Expert Zone > Wealth Building
Wealth Building Tips by experts
|
| |
|
| |
|
|
Tips for Stress free life > Expert Zone > Wealth Building Wealth Building Tips by experts |
|
|
|
|
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
MORE RESOURCES: See the complete list of Articles on Wealth Building here Have a look at Best Selling Books on Wealth Building
See also : Other articles on
Depression,
Grief Loss,
Happiness,
Humor,
Inspirational,
Motivation,
Why not be an expert yourself ? If you can write on
any of the above topic, you are welcome to submit your Submit
your article here |
 |
|
|
RELATED ARTICLES
Retirement - Can You Afford It? Every day you work is one day closer to your retirement. But can you afford to stop work? If you were unable to go to work for 6 months due to illness or injury, would you still have enough income to support yourself and your family? Even if you kept working, would you have enough money put aside to comfortably retire after a hard lifetime of work? If you kept working or doing as you're doing today, for the next 10 years, would you be in a better position to retire? Have you ever calculated whether your superannuation or the pension is going to be enough for you to retire on?For most people these questions either remain unanswered or have negative responses. 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. Thieves Continue to Pull Off the Biggest Heist in History?Until Now! Imagine being able to steal untold millions of dollars in plain view without getting caught. Impossible you say. Easy Ways to Save $1,000 Vacation season is upon us and it can be tempting to pull out the plastic. To enjoy a vacation that you are not paying for when the next vacation season rolls around, consider a plan that costs $1,000 or less and pay cash. Top 10 Secrets of Getting Rich! As many people have observed, "Success leaves clues." If you want to achieve extraordinary success in the coming year, study the experts, do what they do, and modify their techniques to suit your particular situation. The Parthenon Principle Have you seen a picture of the Parthenon in Athens, Greece? I will never forget walking up to the massive granite ruins. The size and power still remaining in a building constructed 2500 years ago is overwhelming!Although the roof lies on the ground, in pieces, most of the columns that supported it are in place. Trustees: Who Can You Trust? Early in my legal career I represented two young women in their early 20s.Their mother had been killed in a car accident when they were infants. Cost Averaging - It Makes Sense (Dollars & Cents) It's no secret that the market goes UP.. Who Else Is Tired of Life Punching Them in the Face? Remember the bloodied face of Randall "Tex" Cobb?He was a boxer who fought in a championship bout against then heavyweight champ Larry Holmes in June of 1982. It wasn't pretty. Wealth Secrets: Saving Your Way to a Fortune SCENE 1: Pharaoh has just woken up from a very troubling dream and feels he must know the interpretation. Joseph gets called in and explains that there will be seven years of plenty and seven years of famine. 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?Here are the top 7 roads to riches, the top 7 easiest and fastest ways to acquire wealth .. Finding Financial Freedom Do you ever get this in your email box: Find Financial Freedom! Make $150,000 from home in the next 90 days! How about 10 times a day?Every time I get one of these, I think to myself, "Hmmm, Financial Freedom. I already have financial freedom, even though it doesn't look like what these emails promise me. How To Grow Your Mental Power and Let Your Brain Make You Rich No one has complete control over their thoughts. But with practice, with deliberate attention, far more control can be achieved. How Much Do You Need To Earn Per Hour To Achieve Your Yearly Financial Goals Have you ever asked yourself what your highest income producing activity is?If you're like most people you probably go about your day-to-day business never really thinking about the moment to moment activities that consume your day.I'd like to walk you through an exercise that has helped me and my clients really stay focused on earning their highest possible revenue per hour. Understanding the Three Different Types of Income Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. Have You Ever Had That Feeling? Have you ever had that feeling where you could not wait to go to sleep because you were so anxious about tomorrow? You were so excited and your heart was beating so fast that as much as you tried you could not go to sleep? So you just lay in bed imagining what you would do the next day. Imagine that you were thinking about what you would do with the money you've made that day and how much more you will make tomorrow. Asset Diversification Is NOT Boring?And Will Make You Money OK, this article will start with the cheapest piece of advice you will receive this year. In fact, it will make you money. Prosperity An ellipsis to your success is hidden in the word prosperity. Take a letter; make a word; assign a meaning, discover a pathway to your prosperity. Want Money? You Got It! Six out of six people who were asked to list their highest priority in life said, "I want money". Maybe not in those exact words, but that was the gist of the request. Plan For Wealth One very important wealth creating habit is to set up a concrete plan that you can actually follow. You see, wealth takes planning, and is usually the result of taking a set of orderly, progressive steps from where you are now to where you want to be financially.
|
|
You are here |
|
| Wealth-building Tips Home | Wealth-building Tips -complete list | |
|
Main Home | | Meditation Corner | Expert Zone | |
|
|
|Health Tips | Workplace Tips | Soul Tips | |
|
|
| Recommend us | |
|
[About
us] [Contact] [Privacy
Policy]
Copyright 2006, Meditation
is Easy.com, All
rights reserved
