We all need money
At times we seem not to have enough.
While the U.S. Treasury prints billions to be shuffled through our economy. Governments and corporations move assets like game pieces. Malls and stores capture billions of consumer dollars. Money is readily available. But why does it seem to escape many of us?
Mental tension is created when what you believe is in conflict with what you do. The mind attempts to fill these mental potholes with rationalizations. Negative habits can corrupt your ability to think clearly in the future. We need to eliminate as much conflict tension as possible.
Use this understanding to begin changing your habits before they generate negative thinking. A finanical choice is like a fork in the road. Your decisions determines which road you will follow. If you find yourself on the wrong road, initiate these five steps to re-route your travel plans.
Step 1: Determine your current position: When you take a trip you identify your starting point. Use a cash flow analysis, and an asset/liability assesment to determine current location. Cash flow tracks the money movement in and out. The asset/liability will give you a picture of past financial decisions. It will also help identify potential assets that can be used to create wealth.
Step 2: Determine your destination: You never leave for a trip without knowing where you are going. Determining where you are going, create success that leads to other successes.
Step 3: Start shaping: This is a technique where you set a series of short-term milestones that will get you closer. Small accomplishments will give you momentum for reaching larger wealth dreams.
Step 4: Customize your wealth plan: Before making investments, evaluate what is in your hand, what is in your ability, and what is in your house.
There is a story in the Bible of a woman who came to the Elisha the prophet. She told him, my husband has died; I am burdened with debt; I have a poor FICO score and my financial condition is about to destroy my family. Elisha, asked, "what's in your house." She said nothing but a little oil. He gave her a strategy that caused what she did not value to create value. She paid off all her debts and she and her family lived off the rest.
On The Millionaire Journey I use these biblical principles to discover an individual's wealth potential that will unlock a cycle of wealth creation that is specific to their personal financial DNA.
Step 5: Celebrate your progress: Reward yourself as you improve your financial standing.
Just as the excessive wear and tear on your tires will hinder your journey, so will the misalignment of money. Take these steps and re-route your plans to arrrive at your new desired destination.