This is the 5th part in a series that I am writing about “Getting our House in Order”…
To catch up if you are just getting here, these are the links to the previous posts:
In this one, I am going to take a look at the financial pillar of success which has been a tricky area for most as of late. For the record, I am not a financial expert by any means, but again just like the fitness/health aspect of life, there are some repeating aspects that come up in every article and book written on the subject. And as always, make sure to check with your accountant before making any decisions with your money and your investments.
1. Save more of your income then you spend – If you do this one thing, you have end up having more money then month. A rule of thumb is to save a minimum of 10% of your GROSS income, that is the amount of money before any deductions come off of your pay. If you make this a habit, you should have money whenever you may need it.
2. Save a minimum of 6 months of your monthly expenses – If you can set aside a minimum of 6 months of expenses, then if something negatively happens to your source of income, you can take a little more time to get into your next job instead of having to jump on the first thing that pops up out of necessity. This allows you to be a little more choosy with your next job.
3. Get advice from people who have ACTUALLY made smart moves with money – Now a days, everyone is a financial expert. If you are going to start a Network Marketing business, then get together with some one who is actually experiencing success in that form of business. If you are going to get into an investment on someone’s advice make sure they have had SUCCESSFUL experience with their past investments.
4. Diversify – Don’t put all your eggs in one basket. With the uncertain financial landscape that we have going now, it is very challenging but you would want to make sure that you have your investments spread out in order to avoid complete financial collapse.
5. Make sure that everything that you do is a product of your own conclusion – When you ingest all the information about your financial situation, make sure it feels right to you before you make your final decision. Jim Rohn used to say, after all the information is in, “Make sure to be a product of your own conclusion.” or I think it was Harry Truman, who said, “the buck stops here.”
Makes sure that you take full responsibility for your life and every aspect of it!!
As Always, Here’s to Your LifetoSuccess,
God Bless You,