Our FINANCIAL FIERCENESS!™ series integrates our financial goals into our development plan for surpassing our goals. We deal with the specific issues we need to explore in order to achieve (and surpass) our financial goals. This specific episode is “Getting ‘Rich’ is Easy. Staying ‘Rich’ is Hard. Why that is and how to beat the odds.”
As we have previously discussed in other programs, wealth is relative. A person will determine if they feel wealthy (or “rich”) based on their upbringing, culture, ethics, religious, spiritual, education, philosophical and political frameworks. If a person has more resources (or appears to have more resources) than other peers, it tends to make them feel wealthy. If a person has less resources (or appears to have less resources) than peers, they feel poor. I have known people who made $2,000 USD a month and felt very wealthy (as their peers made much less on fixed incomes of around $1,000 USD a month). I also have known people who made $60,000 USD a month who felt poor (as their peers made $100,000 USD a month). Once we have our basic necessities met in life, there is a universal human tendency to judge our economic ‘success’ relative to peer groups. This leads many people to try to spend money to seemingly match their peer behavior (i.e., keeping up with the Joneses). This is a large part of why people who have resources (aka “rich”) do not keep them. Consider: This episode is part of our FINANCIAL FIERCENESS!™ series! This series integrates our financial goals into our development plan for surpassing our goals. We deal with the specific issues we need to explore in order to achieve (and surpass) our financial goals. In this episode we are examining the issue of “Why I LOVE Paying Taxes! Seriously."
Sharing. It is not something that comes easily to all of us humans! Definition of SHARE: ": to let someone else have or use a part of (something that belongs to you)" Share. (n.d.). Retrieved July 13, 2014, from http://www.merriam-webster.com/dictionary/share Depending on... This episode is part of our FINANCIAL FIERCENESS!™ series! This episode is,”Why ultra-wealthy (beyond “rich”) people love bargains (and why you should too)!”
Have you ever heard the stereotype that rich people are cheap? CONSIDER: - "the biggest barrier to becoming rich is... This episode is part of our FINANCIAL FIERCENESS!™ series! Our FINANCIAL FIERCENESS!™ series integrates our financial goals into our overall strategic development plan for surpassing our goals. We deal with the specific issues we need to explore in order to achieve (and surpass) our financial goals. This episode is, “Why am I always living paycheck to paycheck even when I get salary increases?”
Budgets? Be cautious about budgets. People may create “ideal” (or fantasy) budgets. The goal is attaining and sustaining financial independence so you need to increase your income (and income producing assets) and lower your expenses. The title of this episode states that there is already more income yet they are still paycheck to paycheck. Thus, we should immediately focus on expenses. Remember, the path to financial dependance (aka “broke”) is to spend more money when you earn more money. Instead, you must simultaneously work to increase income (or revenue) while decreasing expenses. Focusing on decreasing expenses, you must do the opposite of the inclination (i.e., I got a raise so I can get the bigger satellite package, etc.). Money Days? This is my term for when I go through all of my expenses and cut costs (or increase my money that I have possession of). I take all of my required expenses (utilities, etc.) and my desired expenses (cell phone, etc.). I usually take 1-3 of the total list on each Money Day and do the following: 1) Call the vendor. 2) Have [...] |
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