I assume many people will naviage to this page because they're looking for an immediate answer. Well, we'll give you one. PAY YOURSELF FIRST.
Dirty Cash: Watch Video - Money Talks
What we mean, is that you need to learn the discipline, of taking out a bit of what you earn / make every week / month - and paying it to yourself, as if you were your own creditor / supplier. This one act, of taking out something for ourselves to keep, has the psychological effect of making us work with what is left.
The vast majority of people try to do it the other way round. They'll pay everyone else, and then try to keep a bit for themselves, and invariably - that doesn't work. We have been conditioned to spend until isn't gone. Eat until it's done. Very few people can restrain themselves to do otherwise. But by taking something out in the beginning, and putting it out of sight, and out of mind - our brain adjusts to just working with what is left. You will be amazed at how you don't miss the money you've taken out and set aside.
People who don't ever have any money tend to be in that situation for one or both of the following reasons:
1) Either they've either failed to take the time to master the principles of Wealth Creation, or else
2) They've chosen to disregard the rules.
But we can teach you the rules. And we want you to know and be aware that:
TIME
People often don't realise how much they actually have. If time is money, then the greatest asset we all have is time. And our wealth, what we have to date, is a direct result of how we value our time. But time is a depreciating asset. It's decreasing every day. Those people who find themselves to be broke, probably haven't put their time to good use.
If time is money, think about wasting money - throwing money away... you probably don't like that thought.... and yet we waste our time and throw our time away ALL THE TIME! Think of how much time we waste on a daily basis waiting for people, chatting on the phone, watching soaps, reading celeb mags... assess how and where and who you spend your time with... and you'll probably notice that it's much the same. Change your environment ... start mingling with people with money, with ideas, with plans... and you'll start to notice how their effect rubs off on you....
It is a fact of life that we set aside a portion of our time to sell to other people, and we accept a certain price for it. That price varies from minimum wage labourer to the £200 per hour solicitor. How much of your time are you putting to good use? How much did it cost you in surfing on the net last week?
Often, people get rich in their spare time. It's the part time hobby or interest that takes off and gets them out of their rate race. Find your own game, and get good at it. But the key is to act now. Start making some changes. The sheer peace of mind that comes from taking control of your life and your finances is priceless.
If you need help in budgeting and taking control of your expenditure: Click Here!
The difference between who you are today, and who you are tomorrow, will be the people you meet and the books that you read. Surrounding yourself with like-minded people... people who want to do something with their lives is always helpful. But be aware of well-meaning people. If you wanted to know about cars, would you ask a painter or a mechanic? All too often, people who are broke take advice from their broke friends, and then wonder why it hasn't happened for them. If you want to talk about money, talk to us.
This is our main line of work at Boogles Ltd - we help people to manage their books / accounts / cashflow situation. Please visit www.booglesltd.com to find out more about this.
DEBT
Debt is one of the most posionous things in our society, yet we are all encouraged to saddle ourselves with it when we are young. The banks fall over themselves to hand out loans, credit cards, overdrafts. And the Student Loans Company happily lend you thousands to go to university, which you then end up spending half your life to pay back.
But it's not just students or young people drowning in debt, it's the ordinary every day person, who is increasingly using it just to survive and make the ends meet. Read the article from www.metro.co.uk which shows us that despite the increasing debts levels we're all under, no-one seems to be too concerned - probably because we're all in the same boat, and we'll all go down together!
If debt is a challenge try: Debt Busters
Bad Debt can adversely effect your ability to be eligible for credit. If you are experiencing serious debt levels, phone the National Debt Helpline on 0808 808 4000 or try The Consumer Credit Counselling Service 0800 138 11 11 (both freephone numbers if calling from in the UK).
In general, people are broke for one of two main reasons. Either:
- They don't make enough money; or
- They spend the money they do make on the wrong things.
There isn't any quick answer to solve these problems. It's a process of acquiring good money habits and learning the rules of success.
If you want a tip of where you should start in order to get rich, then we would say do this one thing: BUY ASSETS.
Stop wasting your time and money on liabilities. If you don't know what an asset or liability is, then read on.
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