Finding the Missing Piece to True Wealth
Does it seem as if your money just slips through your fingers or have you found a way to hold on to your money to start building your legacy? We […]
Does it seem as if your money just slips through your fingers or have you found a way to hold on to your money to start building your legacy?
We have been conditioned by society to be consumers — that it’s okay to say “bye-bye” to our money when we get our hands on it, because we need to go buy. And if that’s okay with you, fine. You don’t even need to keep reading.
But do you want more for your life? Do you want true wealth that can span for generations? And I mean the kind of wealth that can take you on vacations, build that dream house for you, put your children in the best schools, and give you the power to live the life of your dreams without owing anyone anything. If you answered yes, I challenge you to keep reading right now.
If you are looking for the secret piece of the puzzle that no one tells you when it comes to true wealth, it’s right here: It is possible to be wealthy without being rich, and it is possible to be wealthy without having a huge income.
Wealth is not about making tons of money. Instead, your money mindset and the actions you take with the money you have determines your wealth. It’s even a universal law of success. Ever heard of the law of promotion? If not, First Steps to Wealth goes over it in further detail.
In summary, the law of promotion tells us that if we are faithful with the little, we will receive even more. It is true for your career, your marriage, your house, and so on, but it is especially true of money and true wealth.
If you take what little money you can spare and direct it towards new forms of cash flow, you will be able to generate wealth that can take care of your family for generations. Remember, you reap what you sow. If you spend what money you have rather than investing it mindfully, you will not have a harvest when times are bad.
Knowing this, here are some steps to get you started on the road to financial freedom, understanding what wealthy (“financially free”) people understand:
Cut Unnecessary Expenses
When was the last time you’ve taken a look at your bank statements? Wealthy individuals keep track of exactly where their money is going. Can you say the same? Or do you unknowingly blow through your cash on eating out or entertainment? Finding where you can cut expenses and put that money into investments will give you a powerful head-start.
Make a Plan and Stick to It
If you don’t have a budget, now is the perfect time to start one. For example, First Steps to Wealth suggests going through your bank statements with highlighters to sort exactly what expenses are important, and which ones are more luxurious. (By the way, if you don’t have a copy, you can pick one up here for free). Then, you can put all of that extra money towards paying off your debt or really hitting your investments hard. Successful investors understand that being successful with your money takes patience and consistency. You will be tempted to pull your money out, or splurge from time to time. But it is much easier to make money your slave if you have a plan and commit to sticking with it.