Three Easy Steps to Wealth and Prosperity

JanetPersonal EmpowermentLeave a Comment

Most successful people are waiting to see how things are going to go with upcoming changes in taxes, health care, and budgets. Before making any big decisions, stock is taken on what they have in hand and what is needed to move forward. From the outside it’s business as usual, but from the inside, a wise leader looks at their current reality so their business or organization remains sustainable. In order to be financially sound they start by establishing the facts.
Here are three easy steps to financial freedom, wealth and prosperity.
Be clear on the facts.
Plan ahead.
Enjoy life now.
Being clear on the facts isn’t always easy. Some days you may feel rich, and other days poor depending on the change in your pocket. For example, if you’re used to bringing in $1000 and now only receiving $800, business doesn’t look so good. You’re probably going to feel poor, especially when expenses stay the same or go up. Yet, if you’re used to bringing in $800 and now receiving $1000, then you’re going to feel rich. Establishing the facts helps you mentally adjust to the current reality and makes your finances feel more manageable. 
 
Establishing the facts gives you confidence to move forward. 
Start with a piece of paper. 
Draw a line down the middle of the paper with a plus (+) on one side and a minus (-) on the other. 
Write down every single one of your expenses. Every debit or expense goes on the minus (-) side. That even includes your chewing gum. 
Every asset or credit you have goes on the plus (+) side. 
Put the cost next to each item on your list. 
Now add all the numbers up on each side. 
It’s a good idea to have someone else take a look at your two lists to assist in locating any missing information.
Adjust the numbers in both columns so the totals are equal. It is much easier to spend less than to work three jobs to support an inflated lifestyle.
 
Plan ahead by including all your dreams, goals, and strategies for recreation, non-working and retirement days. These items go on the minus (-) side and the funds immediately go into a savings account. Budget about 10% for savings and emergencies like a flat tire or a broken tooth. Planning ahead will take the pressure off and give you time to restock your emergency funds. Make sure that you always keep three months worth of living expenses in your emergency fund. Over time, when your emergency fund is complete, then start working on the debts.  Plan to pay off the highest interest debt first. Living within your means by actively working a budget  and a savings plan gives you financial freedom. 
 
To help you through this process, I have a Financial Freedom budget sheet HERE for you to download. 
 
The other day my husband and I were driving through town and we were amazed to see a local strip mall with three short-loan companies out of six stores. These short-loan shops offer cash for your paycheck. They stay alive by making money off of people who cannot work a simple budget. These people are slowly digging themselves into a hole where debt increases and options decrease.
 
The rule of thumb is:  If you don’t have the funds, there are no funds to spend. When you’ve collected extra funds, those are yours to pay down debt or plan your next vacation.
 
Mistakes or unwise decisions made in the past are opportunities for growth. If your options are currently limited, then it’s a great chance to write down the facts, establish a budget, and discover what choices are currently available. Getting advice from others who have successfully used a budget adds tremendous value to your wealth and knowledge.
 
“Poor” simply means your choices are limited. The shocking truth is that 91% of families have saved nothing for retirement or their kid’s college funds.
 
“Rich” means you can choose from many options. Dave Ramsey says, “If you will live like no one else, later you can LIVE like no one else.”
 
These sound financial principles remove limitations, confinement, and debilitating debt. Millions of people have increased their options by following these easy steps to becoming wealthy and prosperous:
Decide where to cut spending.
Find ways to increase income.
Live within your means, not on borrowed money.
Allow and teach others to do the same for themselves. 
 
Enjoy life in it’s richness by becoming clear on the hard, cold facts, working your budget and becoming free from the weight of financial debt. Maybe you can save on gas money by buying a bike, then planning a trip to ride down the California coastline. 
 
Resources are plentiful. Simply use them wisely to appreciate your current wealth and prosperity. Now that you have all the information you need to be wealthy and prosperous you can sit back and enjoy life because the fun is just beginning.

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