Posts Tagged ‘finance’

money

2. Money isn’t everything.

While money may not be everything, no money is not anything.  Many people hate admitting that money means a lot.  To overcome this love for money, people rationalize with sayings like:

“Money Can’t Buy Happiness”

“Money Can’t Buy Love”

“People Who Love Money Are Selfish”

The list goes on an on.  The fact is, money is not the main objective.  Most successful people know that money leads to financial freedom, and financial freedom leads to happiness, love, and charity.  Most stress comes from tough monetary decisions.  Should I invest in a new car today or do I need to save this money so I can buy groceries for my family at the end of the week?  When you create a financially free life for you and your family, you create a happy, stress-free environment.

Many couples argue over money.  Women love to shop.  Men love their toys (cars, tools, grills, etc.).  Go back through the past month of your life.  How many times during the past month have you argued with a parent, child, spouse, partner, etc. about money?  I’m sure it happens quite often.  Now think about how the past month would be if you removed all of those arguments dealing with money in any way.  Which life do you prefer?

While money may not be everything in life, the ability to live without financial obligations provides a great life for us all.  Money is not the direct cause of happiness, but it is definitely a product of happiness.  Don’t let others put you down if you are money-hungry.  Keep working and stay money conscious to create the life you deserve; free from money troubles, arguments with people you love, and major stress.  Work hard for money now, and make a better life for many people around you.

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economy

4. There is no opportunity in this economy.  It is impossible to get a job.

We hear a similar phrase over and over again.  We hear it from all different people; family, friends, former coworkers.  The reality is, it is far from impossible to get a job, many people are just unwilling to take a job that they believe are “below” them.  There are plenty job opportunities in this country.  Now is the time to get up and grind with whatever type of job is available, increasing the opportunities you will come across.

A perfect example of a man getting it done in this economy is my uncle.  Here is his story:

My uncle has been all over this country, as well as the world.  He got a good education and was a top dog at Bank of America before the 2008 recession hit.  At this time, many banks began to downsize at an alarming rate, and many were bailed out at government expense.  Before he was released from the bank, he did very well for his family, and did a great service for the bank.

Unlike most people in this economy, after his release from his well paying, high status job, he continued to do well for his family and do whatever he could to continue to add to his wealth.  Being a finance guy, he crunched the numbers and made a rigid budget for him and his family to stick to.  By the way, his family consists of my aunt, his three little girls, and his pet dog.  It is a difficult task to control the spending habits of the four females in his house alone.

He went from a powerful position at the bank to doing whatever it takes for his family’s survival.  He began to read books on financing, budgeting, and growing a person’s worth.  He did what many people in his position would refuse to do.  He started to create multiple flows on income.  He learned of a job available at Walmart…and he took it.  He took the job that provided little respect and self-worth.  He disliked the job very much, and occasionally had some really good stories about the people of Walmart, but he did what he could to keep his family’s lifestyle stable.

He also began selling real estate.  He continues to buy more property as his business expands.  He took advantage of every opportunity available to him.  If a neighbor needed a driveway shoveled, or some grass cut, he was the person who was taking the job.  He began scrapping any extra metals or aluminum anyone had.  He found every opportunity for income and he exploited it.

Unlike most people, his family’s lifestyle never had to change in the past few years after my uncle’s bank job.  He did whatever he needed to do to ensure that.  In the last year, my uncle and his family invested in an underground pool for their yard, installed a fence around their property, and bought a new vehicle.  These are not the cheapest investments.

My uncle has established a reputation as a hardworking, dependable person, willing to do any job with a positive attitude.  This reputation has led to a great deal of referrals by people he has done work for in the past few years.  He started consulting at a local bank a few times a week and today he has his own consulting business.

He has been very successful taking massive action, when most of his counterparts refused to take any action and blame the economy for their trouble.  His monetary success during this time is one of many examples of his expertise in consulting.  In a time when most people quit taking action and blames the economy, my uncle took even more action and had a whatever it takes attitude to get it done for him and his family.

I hope this inspires many of you to forget blaming your success/failure on outside forces.  At the end of the day, your success/failure is a direct reflection of you and what you are doing.  Never decline an opportunity.  Nothing is below you.  Do what you have to do.  Operate at levels of massive action.  Grow up and provide for yourself and your family.  The economy is no longer an excuse.

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7. You need to save money.

Since the beginning of time, people have passed on stories and myths form generation to generation.  These stories have endured since the first man and woman lived on the planet, the Story of Adam and Eve.  Many stories change from time to time as they go through the grapevine of human existence.  Some details are discarded, some embellished.  Most importantly, many stories are altered to apply to the lives we live today.  

For something to feel relevant, it must be applicable to you.  We find it almost impossible to appreciate stories of our great ancestors hunting, fishing, living on the land, with no money to buy readily available material objects.  Instead, stories are twisted many times over, and we are told a form of the story, but not quite how it happened.  It becomes a real concept to us and applicable to our lives.  

This is true for many of the stories and myths that have proven to battle time and continue to be told today.  But there are some stories passed down from generation to generation that refuse to change and disregard that times are different now.  These are the most dangerous kinds of stories.  

We have all heard it throughout our lives.  That voice inside our head repeats it to us every time we look to spend money on a nice vacation or even buy an ice cream cone.  It says, “You need to save money.”  Our parents told us to save the money we got in our birthday cards when we were younger.  One of the first gifts you receive as a child is a piggy bank.  Its an idea passed down to us starting with our parents, our parents heard the same thing for many years from their parents and so on.  

SAVE, SAVE, SAVE.  That is all we are told.  That might have been the idea for past generations, but things continue to change in the world and in humankind, just as it always has been changing.  Your parents weren’t told by their parents that they have to go out and hunt their food if they want to eat dinner.  That’s because life has changed from the time where you have to go out, track animals, and hope to kill one to bring home dinner for your family.  The same thing applies to the idea of saving money.

Our economy is still in a state of contraction.  People believe more than ever, especially the older generation, that you must save to survive.  There advice is understandable.  Its the way they have been conditioned to think.  But now is not the time to save money.  And you will not be very successful if you hide all your money in the bank.

In this economy, you must save only to reinvest and make more money.  Many will think you are crazy.  Ignore them.  You can’t tie up all your money in the bank.  It is not doing you any good that way.  Every person is a business.  You do not need your money in the bank, you need your money in your business.  Reinvest in yourself.  

The way to survive in this economy is to create multiple flows of income.  Do not be dependent on one single flow of cash.  Invest to create multiple flows.  And continue to reinvest for more growth and more opportunity.  Your number one goal should be to increase your income.  It is impossible to increase your income if you are locking all your money up in the bank.  Defy groupthink.  Don’t be afraid to be criticized.  Just look at all the people who are focused entirely on saving…is anyone changing their financial situation?

Be bold, be courageous, and increase your income to enjoy the life you want.  Reinvest in yourself to get more out of life.