The 4 steps to financial freedom

Steps to Financial FreedomFinancial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this. ~Dave Ramsey

Many people are searching for the steps to financial freedom. Search the internet and there will be references to seven, eight, nine and even ten steps but I think only four steps really matter.

However before I discuss those steps, let us first think about the biggest cause of people remaining poor, namely the burden of debt.

Statistics suggest that most people these days are heavily in debt. And debt is a burden that enslaves us. Knowing we have debts can be stressful.

What is the underlying cause of such debt? That’s simple. Mostly it’s the overuse of credit cards with little or no thought to how this will affect our financial well-being.

Unsecured debt built up through the excessive use of credit cards is very expensive.

That means even a small sum outstanding on a credit card can quickly become a large debt due to the effect of compound interest if you only make minimum payment each month.

Are you affected by debt dear reader? Are your finances out of control? Would you like to achieve financial freedom?

Steps to Financial Freedom:

Often I hear people say things like, if only I could increase my income I could pay off my debts.

In fact those same people, if they did increase their income, would probably just spend more. And financial freedom would still remain a distant dream.

If financial freedom is your aim then it’s essential that you take control of your finances. And the steps to financial freedom are as follows:-

1. Spend less than you earn:

It all starts with spending less than you earn. If you spend less than you earn you can work on becoming debt free and then start to build capital.

2. Pay yourself first:

You must always pay yourself first. What does that mean? It means that as soon as you get paid each month you take a minimum of 10% of what you earn and put it away somewhere safe immediately.

Never, ever wait until the end of the month to see what you’ve got left.

If you do that you’ll never save anything.

If you take 10% upfront it will just be another debit on your income like taxes and pension contributions. You’ll quickly get used to having only the remaining 90% to live on.

And what do you do with the 10% or whatever you’ve put away?

3. Eliminate credit card debt:

Initially if you have a credit card debt burden then it makes sense to use that money to deal with paying off your debt first because the interest you’ll pay on the debt is always greater than any interest you’ll get on savings.

To pay off your credit card debt it’s essential that you find a way to eliminate the interest element each month so that any payments you then make go against the outstanding balance.

And how is that done?

Well, when you take out a new credit card account it often comes with a period of zero interest, usually six months. These accounts also usually allow you to transfer in an outstanding debt from another credit card account.

So by moving from one card provider to another and transferring the debt across to the new account, you then have a period of six months to make payments against the outstanding balance without accumulating interest on the old debt.

Never, ever use this card to increase your debt. Use it only for reducing your debt.

At the end of the period of zero interest on your new card repeat the process if necessary. Once again, you move to another card account offering you a zero interest period. By focusing only on the outstanding balance it will be paid off quicker.

Eliminating the burden of debt is the first step on the road to financial freedom.

Freedom from debt will give you peace of mind. And peace of mind is a good reason for spending less than you earn.

Once the debt is cleared, what next with the money you’ve paid yourself first.

4. Build capital:

Initially put your money into a savings account. Then, as that builds into a larger sum, you can start thinking about other forms of investment like stocks, bonds and property.

Once you develop the habit of putting some of your money away each month it’s amazing how quickly it accumulates into a decent capital sum and you’ll be on the road to achieving financial freedom.

Conclusion:

Learn to live within your means.

If you live modestly and spend your money wisely, you can ensure that you have enough money when you really need it.

You can also build that nest egg for your retirement and give a little back to those less fortunate than yourself. And you’ll feel so much better about yourself too.

Conversely, gathering too much clutter through excessive spending on things you don’t really need can become stressful, as well as wasteful. The choice is yours.

Financial freedom is achievable and it will give you peace of mind.

You will sleep better knowing you’re debt free.

The steps to financial freedom are really quite simple. Spend less than you earn; pay yourself first; eliminate expensive credit card debt; and start building capital.

Do this and one day your older self will be grateful you made the effort I can assure you.

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© Roy Joseph Sutton and Mann Island Media Limited 2019. All Rights Reserved.

How to invest your money like the rich do

How to invest your money like the rich doA theme I’m constantly exploring is building wealth by investing money. Partly that’s due to personal interest but I know it’s also a subject in which many readers have an interest too. 

If you can build your own wealth then you can enjoy financial independence. How good would that be?

Achieving financial independence means you can then spend your life doing things you enjoy doing rather than things you’re obliged to do because you have no choice.

So your goal should be to become financially independent as quickly as possible, surely?

The problem for most people is that they spend their money as soon as they get it, and often long before they get it.

If people save at all, it often tends to be with whatever money they’ve got left at the end of the month. And that’s unlikely to be much.

The result is that most people have little or no savings at all, and far too many people are burdened with expensive debt as well.

Such people are destined to spend their lives being poor. That’s sad but true. And don’t forget this; debt enslaves you.

So dear reader do you want to get rich?

I think most people would say that they do but very few people have the fiscal discipline to save money, build capital and make it grow.

Some readers would probably argue that the wealthy have an unfair advantage when it comes to investing their money. Maybe they do, maybe they don’t. However there are ordinary folks who manage to get rich so you can too.

How to invest your money like the rich doThe question is where do you begin?

A good start would be to educate yourself in the art of saving, growing your money and building wealth.

Now that doesn’t mean you have to go back to college. You can self-educate yourself by reading some of the many excellent books available on the subject.

Create your own small library of good reference books on money matters.

Identify great investors like Warren Buffett and read what they have to say and indeed copy what they do. If it worked for them then it can work for you too.

In the meantime the video included below offers you some useful insights into how the rich invest their money.

It will cost you nothing to watch this video and it really is worth your time, if you want to work towards becoming financially independent.

And if you’d like to learn more about Warren Buffett’s investment philosophy you’ll find a selection of useful books on Amazon if you just CLICK HERE.

How to invest your money like the rich do:

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So please share it now. If you do I will be ever so grateful and you’ll be helping a keen blogger reach a wider audience.

Thank you.

DISCLOSURE: This website is an Amazon affiliate. Should you click on any of the links included in the text above and you then make a purchase, you should be aware that this website will receive a small commission. These commissions serve only to cover the cost of maintaining this site. Your understanding is truly appreciated dear reader. Thank you.

Other articles you might also find interesting:

© Roy Joseph Sutton and Mann Island Media Limited 2019. All Rights Reserved.

5 ways to increase your value

Jim RohnIn the video embedded in this post, the late, great Jim Rohn offers you five ways to increase your value.

If earning more money is your aim, then that doesn’t happen by accident of course.

Work is just doing stuff for other people in exchange for money. Essentially work is the transfer of value, so the value you have to offer really matters.

We don’t get paid for the hour of work, we get paid for the value we can deliver in that hour.

So the underlying point Jim Rohn makes in the video is that the amount you earn and the wealth you enjoy is dictated by how much value you bring to life and those for whom you are working.

I can tell you now that Jim Rohn is making an important point here and what he says is true.

Thus knowing how to increase your value is essential, if you’re to increase your income.

If you increase your value, you can have success in abundance; prosperity and wealth can be yours; and the law of attraction will work in your favour.

And remember; if your aim is to make the most of your life then listening to people like Jim Rohn is a habit worth forming. Listen to successful people and you can be successful too.

So take a moment or two now to listen to Jim Rohn and I promise you, you’ll feel it was well worth your time.

Five ways to increase your value:

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How to turn your yearly income into your monthly income

How to turn your yearly income into your monthly incomeAre you one of those people who feel you should be earning more than you do?

Would you like to know how to turn your yearly income into your monthly income?

To have enough money to enjoy the lifestyle you’d love?

You’d like a greater income but you don’t know how, right?

Perhaps you feel that big money never flows to people like you?

Well don’t you believe it. With the right approach you too can have a lot more money than you have right now. Yes, you can become truly wealthy.

The question is where do you begin?

Well you can start be understanding the Law of Compensation. In the video included here the American, self-help guru Bob Proctor explains that income is earned according to the Law of Compensation.

The Law of Compensation:

Bob explains that the Law of Compensation states that the amount of money you earn will always be in exact ratio to the following three points, namely:-

  1. The NEED for what you do.
  2. Your ABILITY to do it.
  3. The DIFFICULTY there would be in REPLACING YOU.

Now you have no control over points 1 and 3, so you must concentrate on point number 2. You must be constantly honing your skills and become a master of whatever you do.

That said, becoming a master of what you do is only part of the solution.

To earn more you must decide on your strategy for earning money. In the video Bob Proctor explains that there are in fact only three strategies for earning money.

The Strategies for Earning Money:

So what are they three income earning strategies? Bob Proctor describes these are M1; M2; and M3. In more detail that means:-

M1: Trading your time for money:

Essentially this is paid employment and it is the way that 96% of people earn an income.

The problem is that, unless you’re a Wall Street banker, you’re unlikely to get rich this way. In fact it probably explains why you’re not rich right now.

M2: Invest Money to Earn Money:

Assuming you’re working for the man as a salaried employee, you can start saving and gradually as your savings grow you can invest your money in stocks, bonds and property and over time your investments will start generating an income of their own.

That’s great but you need to know what you’re doing and, if you have nothing now, it will take some time before you can start generating anything approaching a useful extra income.

Of course should you have a large sum of money right now then this might be a solution but for most people it’s not really, which is why only around 3% of people make an income this way.

M3: Multiply your time with multiple sources of income:

How to turn your yearly income into your monthly incomeEstablishing multiple income streams is where you can start making serious money.

Even fewer people make an income this way, around 1%, but that has more to do with the fact that most people fail to recognize it’s potential.

Now let me make one thing clear, having multiple income streams does not mean working multiple jobs.

It means having income streams that will earn money for you even whilst you’re sleeping.

M3 is the income strategy that will help you earn far more than you earn now. Certainly it will if you do it right.

Bob Proctor offers the example of Network Marketing (also known as Multi-Level Marketing) whereby not only do you sell products but you also create your own network of sellers which means when they sell you get a part of the commission generated on those sales.

The best network marketers have made a lot of money this way but it’s not the only answer to generate multiple stream of income.

The internet offers multiple ways of getting rich on line nowadays.

For instance you can use Amazon as market place and sell products with fulfillment (delivery to customer) handled by Amazon.

You can also generate commissions through affiliate marketing with Amazon, as well as others like Clickbank and Commission Junction (CJ). These can be great ways to make money whilst you sleep.

Blogging and Vlogging are other ways of producing income streams too.

There are numerous ways for the ambitious and the determined. In fact it’s never been easier for people prepared to put in the effort.

So listen to what Bob Proctor has to say and be inspired to take action now.

Further Reading:

In the video, Bob Proctor makes reference to Think and Grow Rich by Napoleon Hill.

Think and Grow Rich is a classic of the financial education genre.

Originally written in the 1930s but it’s still around today and still very popular.

And it’s still around for a reason. It’s exceptional and definitely worth adding to your personal reference library. I have my own copy and you can take a look at the book if you CLICK HERE.

Bob Proctor himself has also produced some excellent self-help books too and you can take a look them if you CLICK HERE.

DISCLOSURE: This website is an Amazon affiliate. Should you click on any of the links included in the text above and you then make a purchase, you should be aware that this website will receive a small commission. These commissions serve only to cover the cost of maintaining this site. Your understanding is truly appreciated dear reader. Thank you.

Please share this post with your friends:

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If so, then please share it on social media with your friends. When you share, everyone wins.

So please share it now. If you do I will be ever so grateful and you’ll be helping a keen blogger reach a wider audience.

Thank you.

Other articles you might also find interesting:

© Roy Joseph Sutton and Mann Island Media Limited 2019. All Rights Reserved.

5 questions that’ll help your buying decision process

Buying Decision ProcessHow can you be expected to save money when you don’t earn enough to make ends meet as it is? I’m guessing you may have asked yourself that question at least once dear reader? If you have, you’re not alone. It’s a common cry.

However, whilst some people may struggle financially, it’s also true that far too many people squander their money buying items they don’t need and probably will never use, often in an attempt to impress people they don’t even like.

For such people, their buying decision process is usually limited to whether they still have enough credit left on their credit cards.

Well, the mantra “Have Plastic; Will Purchase” is not a good one if saving money is one of your goals.

You can earn a decent income and yet a lack of money management skills and a poor buying decision process will result in you never achieving financial freedom. In fact poor money management skills will condemn you to a life of being poor.

So it’s essential that you learn to manage your money properly, if you want to avoid long-term poverty.

Avoid the ‘I’ve got to have it’ approach:

Now be honest with yourself, how often do you buy things you didn’t really need?

Stuff that you weren’t even looking for but it was there and it looked nice and you thought I’ve got to have it. Out comes your ‘flexible friend‘ and the item is yours. A brief period of gratification follows and then the item is largely forgotten.

How often do you buy things you never use?

Take a look in your wardrobe. I’ll bet there are a few items in there which still have the store tags on them? Never used and they’ve probably been there for quite some time I suspect? Would I be right?

I’ve got to have it‘ is a great way to waste all your money. With this approach you’ll enrich other people at your own expense. Now how could that possibly make sense?

Credit cards: Weapons of mass wealth destruction

How often do you buy things you can’t afford with money you haven’t got?

It’s true, credit cards can be a convenient means for making payments of course but they can also be weapons of mass wealth destruction. That’s a fact dear reader.

When it comes to the buying decision process most of us are driven more by a desire for gratification then any sensible approach to managing our money carefully.

Most of us are guilty of buying more than we need too. Many of us are guilty of buying items we seldom use, if at all.

If you’re like this dear reader then you’re not alone I can assure you. However that’s not a good thing.

The disciplined approach:

However with a bit more discipline you could hang on to more of your own money and then build capital which, eventually, will start generating an income all of its own through interest payments on deposits  and bonds and dividend payments and capital growth on stocks and shares.

Still we’re getting ahead of ourselves.

The underlying message I offer you today dear reader is that you should establish for yourself a buying decision process that will allow you to control your expenditure.

Essentially before you buy anything you need to ask yourself a series of tough questions to gauge whether the purchase really does make good sense.

And what are those questions?

The questions to ask before making any purchase:

There are in fact five questions you should ask yourself before making any purchase, as follows:-

    1. Do I really need it? Honestly?
    2. Will I really use it? Honestly?
    3. Can I really afford it? Honestly?
    4. If I didn’t have it would it really matter?
    5. Does is represent good value for money?

If you answer ‘No’ to the first four questions, the fifth question is irrelevant. A negative on all or even most of the first four questions means, don’t buy the item. Simple!

And even if you do think you need it, never buy anything if you do not have the money to pay for the item right now. Never, ever incur debt for a discretionary purchase.

It’s better to do without than to run up debt on a credit card to pay for discretionary purchases.

The compounding effect from high credit card interest rates can quickly turn a small debt into a large one.

The ‘value for money’ question is only relevant when you can answer every other question in the affirmative.

Nevertheless you should never buy something that’s not also good value for money. That is, you should never overpay for anything. Overpaying meaning the price is inconsistent with the value on offer.

Let the answers to the questions guide you:

To ensure your buying decision process is sound you must always ask these questions.

Let them be your purchasing guide and you’ll be in a better position to start saving money and watch it grow. Once it starts growing you’ll be on your way to building your own personal wealth.

Please share this post with your friends:

Did you find this article interesting and useful? If so, then please share it on social media with your friends. When you share, everyone wins.

So please share it now. If you do I will be ever so grateful and you’ll be helping a keen blogger reach a wider audience.

Thank you.

Other articles you might also find interesting:

© Roy Joseph Sutton and Mann Island Media Limited 2019. All Rights Reserved.

3 ways for getting rich

Getting richYou should never take money too seriously dear reader but, equally, you should never underestimate the importance of money either. Let’s face it, in the modern world, money is as essential to sustaining of life as oxygen. That’s a fact, whether we like it or not. So getting rich is a worthy topic for discussion.

By getting rich I mean achieving financial freedom. I think that should be everyone’s goal, if only so that they can enjoy their old age. In my opinion, there’s nothing wrong with getting rich providing money does not become your obsession. That is, you should have money in your head but not in your heart.

Now getting rich is easier said than done of course. It requires effort on your part and a lot of determination too.

Nevertheless getting rich is also easier than it might first appear to be.

So today I offer you three ways for getting rich which are available to anyone and everyone and they will all help you to achieve financial freedom.

1. Solve problems for people:

Working for someone else may make you a living but having your own business can make you a fortune. The only way most people can become seriously rich is by setting up a business of their own. It can be done and people do, very successfully, and it’s possible for you to do it too.

Essentially business is all about solving problems for people in exchange for money.

Businesses create products which solve problems for customers. The customer buys the product and the business makes money. Obviously you need to ensure that your revenues exceed your overheads but in essence business is that simple.

If you want to make money in business just look for problems to be solved and there you’ll find commercial opportunities.

One person’s problem is another person’s business opportunity.

However do make sure that every product you offer does actually solve a problem for your customers.

That means understanding the needs and wants of your target customers and always asking the question, “What problem will this product solve for my customers?”

2. Risk leads to reward:

If you want to make serious money you cannot avoid an element of risk. That’s a fact of business life.

Entrepreneurs have to be risk-takers by definition.

However that doesn’t mean you taking crazy risks. It means taking calculated risks by doing your homework; proper planning and market research; and using your business skills to weigh up the pros and cons of every opportunity.

Risk is simply the possibility of you getting an outcome you don’t want.

However it’s a fact that risk and reward go hand in hand. The greater the reward on offer the greater the risk you must take potentially to achieve it.

Obviously your attitude to risk is important here.

If a given risk makes you very uncomfortable then it’s probably not worth taking. It will just lead to too much stress for you. Some people have the ability to live with huge risks, whilst others cannot cope with that much pressure.

Either way it doesn’t matter. If you can’t cope with large risks don’t let it bother you. Just look for something with a lower risk and with which you can cope. Even small risks can lead to great riches.

Remember we all need a mix of certainty and uncertainty in our lives. Business requires you to live with the latter, at least to some degree.

3. The magic of compounding:

Once you’ve made some money it’s important you put it to work for you if getting rich is your aim.

And putting money to work is all about taking advantage of the magic of compounding.

Compound interest can have a powerful effect on your money.

For instance if you invest £1,000 at 2% for 10 years with annual interest reinvested and it will be worth £1,219 at maturity.

However if you invest that same £1,000 over the same period at 10% then you will get £2,594, assuming annual interested is re-invested. That’s over 100% difference over the 10 year period.

Over 20 years at 10% your £1,000 would have turned into £6,727, assuming annual interest had been reinvested.

So remember, the interest rate and the longevity of your investment both matter if you’re trying to build a capital sum.

So if getting rich is your aim then start by investing as early as you can, be disciplined and make regular contributions to build that nest egg.

Further Reading:

Obviously a single blog post can only scratch the surface of all you need to know about money.

So if you’re wise you’ll buy some books on the subject to get your financial education moving in the right direction.

Here are some books I can personally recommend, all of which I own my own personal copies:-

Think and Grow Rich by Napoleon Hill

Think and Grow Rich is a classic of the genre. Originally written in the 1930s but still around and still very popular. And it’s still around for a reason. It’s exceptional and definitely worth adding to your personal reference library.

The Richest Man in Babylon by George S. Clason

The Richest Man in Babylon is another classic of the genre. Simple but inspiring. You can read this book in a few hours but it will provide you with a series of powerful lessons for acquiring money, keeping money and making money. Again well worth adding to your personal reference library.

Rich Dad Poor Dad by Robert T. Kiyosaki

Rich Dad Poor Dad is an excellent starting point for anyone seeking to improve their financial knowledge and improve their financial future. This is modern compared to the previous two but it has also become a classic and is well worth the cover price.

One Hour Investor: The Beginner’s Guide to Investing in the Stock Market by Russell Ellroy

One Hour Investor: The Beginner’s Guide to Investing in the Stock Market is recently published and so it’s right up-to-date. If you want to learn about stocks, bonds, mutual funds and much more, then this could be the book for you. Written in a very accessible style and aimed at the absolute beginner.

I have all of these books in my own personal library and I dip in and out of them frequently. You will be inspired by them all I am sure and I recommend you purchase your own copies now. You can check them out by clicking on the links above.

DISCLOSURE: This website is an Amazon affiliate. Should you click on any of the links included in the text above and you then make a purchase, you should be aware that this website will receive a small commission. These commissions serve only to cover the cost of maintaining this site. Your understanding is truly appreciated dear reader. Thank you.

Please share this post with your friends:

Did you find this article interesting and useful? If so, then please share it on social media with your friends. When you share, everyone wins.

So please share it now. If you do I will be ever so grateful and you’ll be helping a keen blogger reach a wider audience.

Thank you.

Other articles you might also find interesting:

© Roy Joseph Sutton and Mann Island Media Limited 2019. All Rights Reserved.

How debt prevents you from achieving your dreams

Achieving your dreams

For far too many people ‘achieving your dreams’ is a luxury they feel they can’t afford.

Now dear reader, have you ever wondered what you would do with your money if you didn’t have any bills to pay?

Imagine that just for a second. How does it feel?

It can be fun to imagine occasionally and dream once in a while but most people think achieving your dreams is something for other people and not them.

Most people quickly return to their daily routine thinking it could never happen to them so why bother?

It’s a fact that as long as you bear significant levels of debt you’re a prisoner within the walls that such debt effectively builds around you.

The only way to see outside those walls is to change your mindset and realize that getting rid of your debt is the only way to real freedom.

Have you ever found yourself wishing you could take a nice vacation, put more money into a savings account, or maybe just have the ability to use your money to help others?

To have the freedom to use your money in any way you choose?

Wouldn’t that be a nice feeling? It’s called financial freedom.

Dreaming is one thing but when reality kicks in and you realize you that can’t do any of these things because you’re actually broke then it probably feels like a big letdown, doesn’t it?

Debt is nothing less than a dream stealer:

The problem with debt is that it can take control of your life.

And once it has taken control of your life it can cause you to lose hope. And of course, once hope is gone, your dreams will start to die and you can experience a vicious circle of misery.

The question is how can you regain hope?

How can you break out of the circle of misery?

It is possible, of course, but only when you realize that you do have a choice.

Change can happen but only if you’re prepared to change. If you make a positive decision that you’re going to change and do something about your situation then that can be the beginning of where you regain hope.

The problem with personal debt:

Debt can limit your life options in all sorts of ways. For instance it may prevent you from pursuing a career path that you would otherwise be passionate about.

I’m sure you must recognize that work is just doing stuff for other people in exchange for money.

That money then allows you to live and pay your bills.

However if you’re bearing high levels of debt, that money must also go towards servicing the interest and repayments you’re obliged to pay on that debt.

As your debt level grows, to keep financially afloat you must earn more. To put it another way, you must run faster just to stand still.

This is where debt limits your options.

It’s an irony but true, more options tend to open up for you when you aren’t constantly pressured to ensure you have a certain level of income each month. Debt has the ability to keep you stranded in a job you hate just because you cannot risk having insufficient income.

Why is that so?

Well suppose you make a decision on your ideal career but you realize it will mean you re-training or taking another professional qualification. Perhaps it would mean you returning to full-time education for a period of time, say a few months or even a year or two years.

In the long term that may increase your earning potential but when you’re carrying debt your focus is on the short term and making sure you can meet the interest and debt repayment schedule. So you can’t go off in the direction you’d like to go because you can’t put your current income at risk.

Essentially debt is a form of slavery. That’s a fact dear reader.

It’s financial slavery.

Yes there are times when debt cannot be avoided of course. Taking out a mortgage for instance to ensure your family has a home in which to live.

However all too often people experience a significant debt burden for no other reason other than they’ve spent far too much money they didn’t have on things they didn’t need or could have lived without.

And in doing so they’ve used unsecured debt like credit cards with extortionately high interest rates.

Remember; the compounding effect of very high interest rates can quickly turn a small debt into an enormous mountain of debt.

Debt can be a source of stress:

Another way to think about debt is that the burden loads you down with stress and frustration.

This can make it impossible for you to focus on those things that really matter in life such as spending time with family and friends.

It can also mean you miss out on some of life’s more exciting experiences such as travel to interesting places.

Whilst carrying a debt burden, you’re not able to save, invest or give.

And of course, it can be highly rewarding to give and help those people less fortunate than yourself. However with the burden of debt you’ll simply be further enriching those people who are already very wealthy.

Debt will steal your dreams and it can steal your life.

It’s a form a bondage you can do without, so quit digging yourself into a hole and start a new chapter in your life.

Get out of debt as quickly as you can:

Whatever your mindset regarding the debt that surrounds you, remember it doesn’t have to be this way. You have the ability to change everything starting right NOW.

Don’t put it off until tomorrow. Get your act together, make a list of your debts (no matter how scary this is), and start working on a plan of action.

Discipline yourself. You’ll make mistakes of course but don’t give up. Financial freedom and the ability to dream big can be within reach.

Further Reading:

At this point some further reading might appeal to you. If so, one book I recommend you read is The Richest Man in Babylon by George S. Clason.

This book is a very easy read and it’s a timeless classic.

It’s one of the most useful books I’ve ever read and essentially it contains the financial success secrets of the ancients.

This classic holds the secret to personal wealth and financial freedom.

This book holds the secrets to acquiring money; keeping money; and making sure your money is earning you more money. It will also provide you with a cure for empty pockets or a lean purse.

It’s well worth the cover price and you can check it out on Amazon if you CLICK HERE.

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How you develop a Millionaire Mindset: Self-Discipline and Money

Millionaire MindsetFinancial success and whether you can achieve it does depend on the way you think about money. The Millionaire Mindset.

How you think about money really does matter, including the way you look at the debt you incur.

So you need to develop a millionaire mindset if you want to enjoy financial freedom.

Money is a precious resource and you should learn to use it wisely.

We are all brought up from an early age to view money in a certain way and the way we are conditioned by our upbringing tends to stay with us unless we choose to change our thinking.

Dear reader you may have been brought up with poor money habits but that doesn’t mean you can’t change them. You can but it does take some effort from you.

If you are to start winning at the game of money then it starts with getting rid of any false ideas you may have and which may be holding you back.

Your mind is a powerful weapon and it can help or hinder you on the road to financial freedom.

So reflect honestly on the way you think about money. Figure out exactly what money means to you and how you want it to affect your future.

What are your financial goals?

Can you visualize yourself as prosperous and wealthy?

Alternatively do you focus more on the negative aspects of your life, perhaps thinking it will never change?

Negative thoughts beget negative thoughts:

Think negatively about money and you’re unlikely ever to have much of it. Essentially you think of yourself as lacking in value and therefore unworthy of having that pot of gold of your own.

Thinking negative thoughts about your future will result in a future for you that is unexciting at best.

It doesn’t have to be but to achieve anything it does all start with positive thinking. No one ever got anywhere with negative thinking, that’s for sure.

Money isn’t everything, of course.

However it is up there with oxygen for sustaining a life worth living.

It won’t solve every problem, of course, but it does make living a little more comfortable and agreeable. Money can cause more harm than good on occasions but it can also be a force for good too.

So what do you want for your financial future and what does money mean to you and your life?

Figuring all that out would be a good start.

Millionaire MindsetYou don’t have to be a financial whizz-kid:

Money might seem intimidating at times but it’s actually quite simple.

Money is just the way we keep score. It facilitates the transfer of value between human beings.

Money is the medium through which value is stored and it’s easier than a barter system.

We do stuff for other people and we’re paid for the value we’ve provided.

We can then spend the money we receive at our own convenience to live our own lives.

Money comes into our lives and money goes out again.

The trick is to ensure that ‘money in’ always exceeds ‘money out’.

In other words we must all live within our means.

So pay attention to the numbers and check them regularly. This is not complicated mathematics. If you can master basic addition, subtraction and percentages that’s about as complicated as it gets.

You don’t need to be a mathematics major to master the game of money.

Your success in managing your money and improving your financial situation will depend on you taking small daily steps to gain control and then manage your finances carefully.

You don’t need to be a city whizz-kid, you just need to care enough to want to improve your situation.

Just keep at it and don’t give up.

Financial discipline won’t necessarily happen overnight but slow and steady progress can be achieved which will improve your situation over time and help you progress down the road to wealth and financial freedom.

If you’re consistent in improving your daily money habits then eventually you’ll find that good money habits will become a part of your routine.

Not allocating the time is certainly a crime:

Managing your money and planning for your financial future doesn’t require a lot of time but it does require some of your time and you must set some time aside regularly to ensure that you don’t lose sight of your second most important resource.

Just in case it’s not completely obvious, your most important resource is time. You can always get more money but none of us can ever get more time, can we?

Your financial success will be limited only by the amount of time, dedication, attention and hard work you put into to looking after your money and improving your financial education.

Many of the world’s wealthiest people will tell you that they didn’t get rich overnight.

Unless they were lucky enough to inherit serious money, wealthy people have spent years giving it their all and managing their money wisely before they ever achieved financial success.

Achieving financial freedom is definitely a worthy goal for everyone.

However it you want to be wealthy you’re going to have to work hard to accomplish your goal and allocate time regularly to keeping track of what you earn, what you save, what you invest and the performance of your investments.

Even if you have more modest goals like becoming debt free or building a nest egg for your retirement, you can’t avoid allocating a little time to the process on a regular basis.

Fail to put in the time and you’ll experience very limited success, if any at all.

Everyone has a choice:

Never assume your situation cannot be improved. It can, albeit it will require effort and discipline from you. You have to make things happen, they won’t happen by accident.

Regardless of your situation now, you do have a choice. You can choose to say, enough is enough. Your life can be better if you choose to make it better.

It really doesn’t matter how many mistakes you’ve made in the past.

Your past mindset in relation to money doesn’t matter either.

The ability to create a better future for you remains in your hands. All it takes is firstly a vision that your future can be better than your past. Secondly you need the will to start making incremental changes and improving things slowly.

You don’t need to take giant strides and set the world on fire. Small incremental steps are fine as long as you keep heading in the direction of your financial goals.

Your mind is a powerful tool which can make or break your success.

Wealthy people, particularly self-made rich people, use what is known as the millionaire mindset. This is simply a way of thinking in relation to money and the building of wealth.

Wealthy people don’t purchase items with unsecured and expensive debt. If they need something they usually save up for it first and then pay with cash for their purchases later.

Ironically they often give money regularly to people less fortunate than themselves too.

Helping others can be a virtuous circle. Being kind to others can pay handsome dividends. Everyone really can be a winner.

Conclusion:

Develop a positive mindset in relation to money.

You’re as entitled as the next person to create wealth from the value you add.

Think positively and you’ll notice a huge change in your life and your finances.

Work on developing a millionaire mindset.

Further Reading:

If you want to develop a millionaire mindset then three books you should read are as follows:-

The Millionaire Mind by Thomas J Stanley

This book explores the ideas, beliefs and behavior that have enabled millionaires to build and maintain their fortunes.

The author uncovers surprising answers, showing what it is that makes the wealthy prosper while others feel dejected and beaten by life.

If you have an entrepreneurial mind you’ll find this book interesting. It will provide you with road maps on how millionaires found their niches.

The Millionaire Next Door by Thomas J Stanley & William D Danko

According to this book, almost anyone with a steady job can amass a fortune.

The authors suggest that most people have it wrong about how you become wealthy.

They suggest that wealth is the result of hard work and living within your means.

This book identifies seven traits which people with wealth tend to possess. These traits can be learned it says and if you copy what the wealthy do then you can be wealthy too.

Secrets of the Millionaire Mind by T Harv Eker

In this book you will learn how your childhood influences have shaped your financial destiny.

You will also learn how to identify your own money blueprint and revise it not only to create success but, more importantly, to keep and grow your personal wealth.

Finally you’ll be introduced to 17 specific ways rich people think and act.

These include specific action steps for you to practice in order to increase your income and accumulate wealth.

The essential message of this book is that if you think like rich people think and do what rich people do then there’s a very good chance that you will get rich too.

Successful people are readers:

If wealth and achieving financial freedom is your aim then you should read these books.

If you’d like to take a closer look at them then click on each of the embedded links above.

I strongly recommend that you buy your own copies. I did and they have all proved to be extremely useful to me.

If you don’t have time to read then listen:

Don’t forget; if you don’t have time to read these books then you can always listen to the audio versions.

You can listen in your car.

You can download the audio versions on to your smartphone and listen whilst your on a bus or a train or in the gym or even when you’re sunbathing on the beach. Audio versions mean you can be learning whilst doing something else, making more productive use of time.

So BUY THE AUDIO VERSIONS from Amazon and listen to them whenever you can.

Again, just click in the link above to explore the possibilities.

DISCLOSURE: This website is an Amazon affiliate. Should you click on any of the links included in the text above and you then make a purchase, you should be aware that this website will receive a small commission. These commissions serve only to cover the cost of maintaining this site. Your understanding is truly appreciated dear reader. Thank you.

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25 inspirational stories of people going from rags to riches

Inspirational StoriesInspirational stories can be so uplifting. They tell us that if other people can be successful then so can we.

Did you have a tough start in life?

Perhaps you feel that your difficult past will prevent you from enjoying a successful future?

Well a tough past doesn’t mean you’re doomed to a tough future.

The same goes for a mediocre past.

The past is the past of course and it can’t be changed. However it serves only as a series of lessons to be learned. Remember, it’s not a life sentence.

You can create any future you want, as long as you’re determined, focused and prepared to put in plenty of hard work. You won’t get anywhere without those ingredients. Nevertheless it can be done, though it will be all down to you.

The future is an endless stream of opportunities which you can choose to take or not.

Don’t just accept my word, look around for people who’ve actually done it. There are plenty of inspirational stories if you’ll just look for them. Today I offer you a video with 25 inspirational stories.

Inspirational Stories25 Inspirational Stories:

In the video included here there are 25 excellent examples of people who had a tough start in life but went on to enjoy considerable financial success.

These are all inspirational stories of people going from rags to riches. And if they can do it, why not you?

And remember this; you’re never too old.

Colonel Sanders started KFC at the grand old age of 65.

And Ray Kroc began building the business empire we now know as McDonald’s at 52.

Believe you can and you will.

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11 Secrets only millionaires know about wealth

If financial freedom is your aim then it would make sense to learn as much as you can about money, wealth and the way it all works.

If you’re serious about accumulating wealth then learning is an on-going process because the more you know the better you’ll become as an investor.

So how much do you know about the modern laws of wealth?

Well you may not know much but you can bet that the majority of millionaires will have a solid grasp of these laws.

The one thing they all know is how to make money and how to make sure they preserve the value of their capital and make it grow.

As the old saying goes, if you want to be successful find someone who is successful and copy what they do.

If you want to be a millionaire it makes sense to me to copy the things that millionaires do.

To get you started the video embedded here reveals 11 secrets that only millionaires know. It’s well worth your time and I can recommend it.

If I’ve whetted your appetite for mastering the game of wealth-building then you might want to start reading a few books on the subject.

In fact it would be a good idea to purchase your own small library of reference books on money matters which you can then dip in and out of as necessary.

One book I found truly inspiring was Secrets of the Millionaire Mind: Think Rich to Get Rich by T Harv Eker.

If you’ve ever wondered why some people achieve wealth effortlessly while others work just as hard but struggle financially then this book is for you. It explains how to master the game of money so that not only will your financial success be achieved but it will show you how to ensure your wealth is retained once you have it.

This book will provide you with insights that will help you take action to transform your financial self, quickly and permanently.

It offers dozens of high-income and wealth creation strategies that you can use.

Read it and you’ll learn what wealthy people know that others don’t.

It sheds light on the cause of almost all financial problems.

This book even explains how to earn passive income, so that you could be making money even while you’re sleeping.

Now how good would that be?

If you’d like to develop your own personal money and financial success blueprint then I recommend you purchase this book. It is available from Amazon and you can BUY IT HERE NOW.

DISCLOSURE: This website is an Amazon affiliate. Should you click on any of the links above and then make a purchase, you should know that this website will receive a small commission. These commissions serve only to cover the cost of maintaining this site. Your understanding is truly appreciated dear reader. Thank you.

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Did you find this article and the video interesting? If so, then please share on social media with your friends. When you share, everyone wins.

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© Roy Joseph Sutton and Mann Island Media Limited 2019. All Rights Reserved.