Category Archives: Wealth

Where does your cash flow?

Wealth, , , , , ,

Are you struggling to find the answer to an important financial question? It is possible to find the solution to practically every money problem if you read extensively, concentrating on material that can educate you about personal financial success.

Over the past weeks, I have introduced you to several books and CDs that have helped me to learn the essential principles of money achievement. Just like physics, accounting or other subjects that you learn in school, money is governed by basic rules that dictate how you should manage, multiply and maintain it in order to attain financial success.

There is no magic solution that can help you to accumulate the wealth you desire; no perfect investment or sudden windfall of money will instantly turn your money situation from desperate to desirable. To obtain long-term financial security and freedom, you must first learn these money principles, and then apply them consistently over time. Continue reading Where does your cash flow? →

How To Multiply Your Money

Wealth, , , , , ,

We have been discussing the three principles of financial achievement – managing, multiplying and maintaining your money. Last week, we outlined the four cornerstones of managing your money, explaining how to make smart decisions with the money you currently earn.

Many people hope that their working income will give them all they need to make ends meet and achieve their goals. The reality is that for most people, the regular job will never supply enough money to enable them to become financially successful. Today, we will look at the steps you can take to earn more money.

Create Extra Income

As we confirmed last week, proper budgeting is vital to all financial decisions. Once you fill out your budget accurately (you can download one at www.financiallysmartonline.com), it will show if you’re spending too much money or not making enough money.

If you’ve cut back on non-essentials and still can’t find enough to pay your basic expenses, then earning more is your only option. Continue reading How To Multiply Your Money →

The Secrets to Wealth

Wealth, , , , , , , ,

It has been said that only about one per cent of the world’s population ever achieves great wealth. No wonder the 99 per cent majority thinks that there are some hidden secrets to becoming wealthy that rich people won’t divulge!

Recently, First Global Financial Services (FGFS) revealed some of the mysteries to wealth at its Dollars and Sense Money Management seminar. Jason Dear, FGFS Equity Trading manager, explained that the act of wealth creation was not shrouded in secrecy.

Dear explained that making money came with understanding and following simple money principles.

“There are universal rules that govern wealth creation,” he clarified. “To get rich you need to learn and execute these principles.” Dear outlined his top 10 list of ‘secrets’ that could help ordinary people begin a successful journey to wealth: Continue reading The Secrets to Wealth →

Keep Hope Alive!

Wealth, , , , , , , ,

“After reading your column last week on The Prosperity Club, I proceeded to say out aloud, ‘My highest good comes to me now and I am most grateful.’ Shortly after saying the affirmation, I got a call that I had two new clients. Positive affirmation really works and I am grateful for these words of hope!” – Reader

Since the start of 2009, we have been focusing on the importance of having a positive outlook despite the negative economic forecasts. Some may argue that positivity can’t change reality, and that the global financial crisis will present serious challenges no matter what we say or believe.

Making a determined effort to concentrate on what you want to achieve in your life, instead of dwelling on your fears, is more than an exercise of faith. When you worry constantly about your problems, you are creating a spirit of despair, which is a negative force that prevents you from seeing a way out of your trouble.

If you can think positively even if your world is crashing around you, then you will produce a hopeful spirit which will direct your brain to seek solutions.

Continue reading Keep Hope Alive! →

Sudden Wealth Syndrome

Wealth, , , , ,

“With the present uncertainty regarding our investments, the viability of our jobs, and our financial future in general, I wonder if it might be a good idea to aggressively focus on winning the lottery as a wealth-building strategy. Even though the odds are against us, this might be the only way some of us will ever achieve financial success.”

As strange as it may sound, an investment plan that involves winning the lottery and other games of chance is probably more widely practiced than we may think. I have seen people consistently purchase lottery tickets, interpret their dreams to ‘catch the cash pot’, or bet on horses using disciplined strategies. Some may not consider this activity as gambling, but would prefer to think that they are working to secure a regular income.

Obviously, gambling is not the best route to secure one’s financial future. However, many people still dream of obtaining a wealth windfall. How many times have we heard people say, “If I had a million dollars, I’d never be broke again,” or “If only I could get my hands on a lump sum of money, I could pay off my debts and start a new life.” Continue reading Sudden Wealth Syndrome →

The Five Laws of Gold

Wealth, , , ,

“Money is plentiful for those who understand the simple laws that govern its acquisition.” George S. Clason

In these harsh economic times, there are many people who believe that it’s almost impossible for them to become get ahead financially. They focus on their shrinking spending power and their apparent inability to achieve their goals and declare, “I give up!”

What most people fail to recognize that it’s not really their lack of money that’s keeping them broke, it’s their lack of financial literacy that’s holding them back. According to Wikipedia, financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances.

You can actually learn how to manage your money effectively, multiply your money to create wealth, and maintain your money to preserve it for future generations.

So where can you obtain an education on financial literacy? The bad news is that the art and science of managing money is not taught in schools, although it should be. The good news is that the information is still available if you look for it. Continue reading The Five Laws of Gold →

Are Women Getting Better at Making Money?

Wealth, , , ,

Traditionally, the only way that women could end up becoming very wealthy was to find a husband with money. Many girls grew up hearing that they had to marry well if they wanted to experience the good life.

If a girl was born lucky, she might get rich by becoming the heir to her father’s fortune. In fact, the ten wealthiest women on the Forbes 2008 billionaire list all inherited their massive wealth from male relatives.

The famed ‘glass ceiling,’ that invisible barrier to women’s upward mobility in business and politics, has historically ensured that ambitious women could only earn a comfortable living from their own labour, but not access the vast wealth available to their male counterparts.

Women shouldn’t lay the blame for their financial inequality solely at the feet at men, however. Lois P. Frankel, PH.D., author of Nice Girls Don’t Get Rich: 75 Avoidable Mistakes Women Make With Money, declares that girls are generally socialized to be nurturing and supportive, while the more assertive qualities needed for financial advancement are usually discouraged.

Frankel examines some of the common mistakes that women make which prevent them from becoming wealthy. Here are three errors that can hold women back financially: Continue reading Are Women Getting Better at Making Money? →

Money Parables

Wealth, , ,

“For to everyone who has, more will be given, and he will have abundance; but from him who does not have, even what he has will be taken away.” Matthew 25 vs. 29

The biblical Parable of the Talents, from which the above quotation is derived, is a simple but meaningful story about a businessman and the workers whom he entrusts to make money for him. The essence of the parable is as follows:

‘A man went on a journey and called his workers and assigned some money to them. One got five talents (a talent was worth more than a thousand dollars), another got two talents and the other got one talent. The money was distributed according to each worker’s ability.

The man with five talents put the money to work and gained five more. Similarly the one with two talents doubled his money. The worker who had received one talent buried it away in the ground. Continue reading Money Parables →

Seven Cures for a Lean Purse

Wealth, , ,

“Money is plentiful for those who understand the simple laws which govern its acquisition.”- George Clason

One of the best ways to discover the secrets of making money and managing it successfully is to study how wealthy people actually became rich, and how they retain their wealth. Unfortunately, many of us will never have close personal contact with the very rich, in order to learn at their footsteps.

The good news is that some of the world’s wealthiest people have chosen to reveal some of their secrets through books, CDs and training seminars. In future columns, we will examine some of the best wealth and money management advice available in the world, and try to apply it to your life.

No matter what your financial situation is now, it is possible to learn how to make and keep money by following the examples set by those who have been hugely successful.

Continue reading Seven Cures for a Lean Purse →

Increase Your Net Worth

Wealth, , , ,

“I daydream constantly about being wealthy. I’m fed up with not earning enough money, and tired of having to scrimp each month to make ends meet. What should I be doing now so that one day I can really be rich?”

I believe that at some point, everybody has fantasized about being very wealthy and living like the upper class on “Lifestyles of the Rich and Famous.” While most people never realize that dream, a select few have been able to figure out a way to make the wealth gods smile in their favour.

What is it that separates this small percentage of the population that has achieved great riches from the rest of the world? One of the reasons, according to T. Harv Eker, bestselling author of the Secrets of the Millionaire Mind, is that people who are determined to be rich focus on increasing their net worth. Continue reading Increase Your Net Worth →