Posts Tagged ‘multiple flows’

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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.