DO NOTHING, EARN NOTHING
When it comes to money and empowering yourself financially (and just about any other area of life really) the basic principle is ‘Do nothing, Earn nothing’.
In order for you to make money, one of the following things has to happen:
– YOU work to make money
– YOUR MONEY works for you to make money
– OTHER PEOPLE work for you to make money
– SYSTEMS work for you to make money
– A combination of the above
In each case someone or something is doing something to earn something.
So you want to improve your financial situation and empower yourself financially? WHY?
For anything one resolves to do they must have a compelling reason why in order to raise their chances of getting it done. Your WHY could be something like – to achieve a certain dream or run away from a certain nightmare; it could be for the sheer love of yourself and your belief or realization that you deserve better or for the love of someone else you believe is deserving; could be to prove a point to someone or yourself… whatever the case; what is your WHY? Is this ‘thing’ important or compelling enough to really make you do something about it?
If your WHY is compelling enough then set some goals. Here are my top 5 tips for ensuring that the financial goals you set are successfully achieved.
1. State what you want and write it down!
2. Ensure the goal you are setting is under your control
3. Make sure your goals support your highest values
4. The goal should be measurable
5. State it in present terms
You can learn more about this from my article for the Xtraordinary Women June Snippets here.
TOP 3 THINGS YOU CAN DO TO EMPOWER YOURSELF FINANCIALLY
1. Education! Education! Education!
By now am sure you know that’s my mantra. For any area of life you choose to grow and empower it is important that you continuously educate yourself. Ray Croc said, “When you’re green, you are growing. When you’re ripe, you rot.” So STAY GREEN!
Top 3 tips for educating yourself about money
– Read: Check my top 5 recommendations for some of the best books I have read about money below.
– Consult: There will always be people who will know more than you about any area of life. Don’t be afraid to ask them to teach you even if it means you have to pay them! Get coaching, attend seminars, visit experts and ask them questions etc.
– Research: “Have you heard the latest craze about Gold and other precious metals? How about the fact that property is recovering?” 🙂 Don’t just follow the craze! Do some research of your own! How? Refer to read and consult.
2. Save and Invest
Saving: In the history of money, there has never been a bad reason for saving. You just have to know in which instrument to do so and when. That way you can take advantage of things like inflation, currency fluctuations and market cycles. Read more about the importance of saving on pages 8 and 9 of my e-book. You can download it for FREE here.
Investing: This is the best way of having money, people and systems work for you to make money!
There are 3 major asset classes that one can invest in:
– Paper Assets (Unit Trusts, Stocks, Exchange Traded Funds etc)
Each area has its advantages and disadvantages so learn about them, see which one you are most interested in and take some steps to get yourself going with investing in it.
Remember – Do nothing Earn Nothing, Earn Nothing. Whether you are an employee or business owner you are giving a servicing for money. DO IT WELL! Continuosly improve on your offering and know and demand your worth. Read more about service on pages 12 to 14 of my e-book. You can download it for FREE here.
MY TOP 5 READS FOR EMPOWERING YOURSELF FINANCIALLY
- Think and Grow Rich by Napoleon Hill: Transforms the way you look at and think about money
- Rich Dad Poor Dad by Robert Kiyosaki: Explains in simple terms the fundamentals around money, how it works, how to make and manage it.
- The Richest Man in Babylon by George S Clason: Teaches basic and highly manageable principles that one can follow to empower themselves financially.
- How To Make One Hell Of A Profit And Still Get To Heaven by John Demartini: Handles belief systems that hold us back from financial prosperity
- The Science of Getting Rich by Wallace D Wattles: Yes there is a science 🙂