All debt, whether good debt or bad debt, has the same outcome. You receive now but you give back in the future. The only significant difference is that one debt works for you instead of against you. Is your wealth mentality itching to know the difference?
Good debt is anything that increases your net worth or has some future value.
Good debt enables you to anchor your assets, manage your finances and increase your value. Certain examples of beneficial debt are mortgages, student loans or a loan to consolidate debt; all of which are usually with lower interest rates. These investments will grow in value or generate long term value – unlike bad debt.
Bad debt is debt incurred on purchases […]
It’s easy to think that once you become a millionaire, you’re set. All your financial woes go away, and you have “made it.” However, this kind of mindset is dangerous because real wealth is not measured by how much you have, but rather how long you can last on what you have.
Are you looking at your saved money as real wealth?
When people think about “lasting on the money I have,” they immediately want to save more and put more money in the bank. Over years of traditional thinking, most employees would think this way. However, sooner or later, the inevitable will happen. The money you have in the bank will run out. To the financially educated, they are looking at 1) […]
Don’t Allow Your Finances To Become A “Junk Drawer”
Opening the kitchen “junk drawer” trying to find a pair of scissors can be frustrating. Many kitchen “junk drawers” are filled with things that are for one-day-when-I-need-this or items that don’t really have a specific home. We throw them into the “junk drawer”, close the drawer and hide the disorganization behind the drawer knob.
Many times, our finances behave the same way. We sometimes keep our receipts & sometimes we lose them. If we keep the receipts, they start to pile up on the desk. When you need it again, the ink has faded away with time. Sometimes it’s so bad that you can’t find a folder you stuck somewhere when quickly cleaning […]
As this season provides opportunities to reflect, I want you to think about YOUR EVERYDAY DECISIONS.
What kind of thoughts are you thinking?
What kind of choices are you making?
Are you taking action?
If not, let’s try to identify what could be hindering your ability to attract wealth. Every decision we make is based on some kind of declaration we have made to ourselves. Thus, we have agreed with the logic or emotion of the thought and therefore, we create an alliance with it.
You Are What You Think
You may have had an experience where a teacher or parent or friend implied you’re not good enough to have more success than them. If you agreed with that statement, you may be feeling guilty for wanting […]
As you choose to step into this new world of attracting wealth, it is imperative you surround yourself with the right people. You cannot possibly know everything about everything. To streamline your way to success, invest in your greatest asset – YOU – and hire the expertise of a coach or mentor who has done what you want to do. Hiring your mentor or coach requires a delicate relationship balance. You must be willing to learn from them, and they must be ready to guide you.
A mentor is someone you should trust
Free advice is precisely that: Free. It doesn’t cost you anything to hear it. Free advice requires nothing for someone to give it. It usually has little value. Therefore, you want to invest in a coach […]
Everyone making an income will fall into one of the four categories of earners. Each one is earning money, but which will build wealth? Which will be able to create the life they desire? Let’s look at how each of us fits into one of these categories:
Employee: This is the person that has a job and chooses to work for other people. They trade their time for money.
Self-employed: This person works for themselves – They make their schedule & dictate terms for earning an income. They own their jobs, and their role needs them to be successful. They find themselves stuck in the day-to-day operations of the business.
Business owners: This person is the visionary. Therefore, they have created processes and systems so the business creates profits without them […]
I always say that the easiest way to become wealthy is to do what rich people do. And, it’s simple. Rich people don’t stay in a job for many decades. They don’t get buried in their business. Rather, they invest in themselves and education which ultimately leads them to success.
Traditional Schooling Doesn’t Teach About Passive Income
Most students in public schools today do not gain the financial education they need to be successful. In fact, many people who want to be investors do not have the know-how to be successful. But, wealthy people take the time to invest in themselves first. They learn to invest in education specifically in real estate, business, stock, and commodities so that their decisions can create multiple streams of […]
When you’re embarking upon a new adventure, it is of the utmost importance for you to find individuals who have experience doing what you want to do – mentors that can demonstrate exactly what needs to be done for success and attaining greater wealth attraction.
Having a mentor is one of the absolute greatest ways to be able to see and hear others’ experiences as an entrepreneur, small business owner, or real estate investor. Who better to advocate and provide advice and leadership; while also being able to understand exactly what pitfalls to avoid? A mentor will be able to completely understand the type of accomplishments that you want to obtain.
The ideal mentor can:
Lay the foundation for a rewarding path […]
For many of us, our idea of hard work, success, and happiness live together. We have memories of our parents saying that if we work hard and become successful, we will be happy. In fact, the relationship between happiness and success has become so ingrained that, even to imagine an alternative seems ridiculous.
But, what if this type of thinking is wrong, and our parents have the chicken before the egg?
What if we could challenge the old concept and begin with happiness as the key ingredient to our success?
Psychologists around the world are working on groundbreaking studies into the relationship between happiness and success. Their studies look at how happiness and success promote and enhance each other. In the field of positive […]
Thinking Like An Entrepreneur Attracts More Wealth
How can an entrepreneur predict wealth attraction without uncertainty? One of the greatest and most important ways to do that is the way you THINK. Entrepreneurs must believe undeniably in themselves. They are decisive. They are confident and have a firm belief in their perspective. This is one of the most important attributes.
Entrepreneurs have foresight and a specific mission at hand that they are able to benefit from. Their belief in themselves and their success surpasses any other thoughts that may try to creep in. This type of logic requires a dynamic confidence that they have been created solely for a specific purpose in life – a purpose that can only be achieved by […]