7 Guiding Principles for Financial Prosperity - Part IDo you find that you don’t have all the money you need? Most people find themselves in this position at one time or another. There just isn’t enough money to do all the things you want to do. The more money you make the bigger the things are that you want. At the end of the day you end up feeling as though you have less money. People always tend to spend up to their earnings. It can be as simple as changing the way you look at prosperity and the symbols of wealth. Let go of your images of the biggest house and the fanciest car on the block. This will lead to a great deal of dissatisfaction. There will always be someone with a bigger house and a better car than yours and you will never be able to keep up. Whether or not you have enough money or just an average amount, you will have to find ways to budget and manage your money in more careful ways. This includes your income, expenses, savings if you have any, and investments. It will also include changing your outlook on money. Don’t get caught up in the trappings of wealth and you might find that you have more wealth at the end of the day. Here you will find the seven rules for financial wealth: 1. Always have many sources of income. It is not wise to rely on only one source of income. Branch out into as many different sources as you can. 2. When you begin to earn you should make it a point to put aside a specific amount to build an additional money source. When I was a child I had my own portfolio and have needed it on many occasions. Even with property you may find yourself in a situation that requires quick cash. It wouldn’t be wise to sell off your properties, but you could sell a part of your portfolio or even all of it. * It isn’t necessary to start your portfolio with thousands; you can start small and build it up. But you must make it a point to never touch it if you don’t really need it. A new car and a bigger house is not a need, but a want. Learn to determine the difference between your needs and your wants. This is something everyone should learn as a child, but unfortunately many do not ever learn this important lesson. 3. Make sure you take care of your money yourself: it isn’t completely necessary to take care of everything personally, but when you can afford it make sure that the person who is handling your money cannot do anything without your approval and knowledge. If you think that you have more important things to do and you don’t have the time, you will find that you will need to find the time later when you will be dealing with some very unpleasant situations. This includes your spouse. Now I know what you’re thinking. That is a terrible thing to say, but love and money just don’t mix well. Keep these two things separate. Make sure you collect your own money and don’t let anyone owe you. No matter how much you have you should follow these rules. To be continued in part 2 of the article...
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