Posts Tagged ‘wealth builders’

“Why oh why did I get myself in this mess” is the plaintive cry heard throughout the land right now. Individuals, states and even countries are second guessing themselves. Note the question is “why” not “how.” They know how. Consistently spending more than your income will earn you a ride on the rocket ship to financial ruin.

“Why” is one of the most frequent words uttered by any small child. Perhaps it would be wise for adults to examine that important word as well.

When economic times are flourishing, we tend to think the good times will go on forever. We spend, spend, spend. This was the experience in the ski resort. Money flows in equal proportion to the accumulation of snowflakes on the slopes. When the powder is light, fluffy and deep, the money flows in from a variety of sources in delightful abundance. Far too many businesses had a tendency to spend lavishly during ski season as if the money would continue to flow in at that same rate. Unfortunately, logic says that will not happen. With predictable regularity April arrives and both the snow flakes and the skiers stop arriving. With direct correlation, the money stops flowing in as well.

Many businesses encounter positive assets and negative cash flow as their demise. The wealth builder’s blueprint requires vision, planning and at least a dash of common sense. Ski season does not last 12 months per year; however, the rent, utilities and desire for food on your table does exist all year long. About the end of May the lavish ski season spenders were crying “Oh why did I spend all of my money in ski season and not save anything for the remainder of the year.” As the old German adage says, “Too soon old, too late smart.”

This same behavior pattern is now visible with many Americans who used their home as an ATM with the expectation that prices and values would continue to rise. Values did not continue to rise. Now approximately 80% of the homes who indulged in this rape and pillage of their home equity find themselves owing more than their home is worth. Many of them are now asking themselves “Why did I borrow so much and get myself into this negative value situation?”

States and even nations are experiencing the same situation as individuals; the spending has out paced the income.

Ok, we can not change the behavior of states, nations or even ask for a “do over” for our personal financial situation but we can institute a wealth builder blueprint for the present and future.

Maybe the small child’s constant “why” question is wise for adults to ask themselves as they contemplate expenditures during this holiday season and going forward to 2011. If we ask ourselves “Do we want this or do we need this purchase?” It may be amazing how many purchases are a want rather than a need.

Another solution is to write down in a notebook every penny spent: cash, check and credit card purchase. Keep a ledger of income expected; not wished for, maybe or might receive or even win the lottery income. Tally the spending and balance it off against the income.

One of the best ways to avoid the “Oh why did I do that” or “Oh woe is my empty wallet” is to establish a wealth builder’s blueprint. Once the blueprint is in ink or computer font, follow it consistently and persistently.

What a concept, not spending money we do not have. Anyone want to suggest that to their state governor or congressman? Just a thought. Oh well, I think I’ll start right here in my own checkbook.

For more practical tips and techniques for personal and professional cash flow management, hire Elaine Love as your coach and mentor. Contact Elaine at www.ElaineSpeaks.net

When your attitude shifts, your life follows suit.  Everyone reaches that magic “decision time.”  You know the time.  You look at your life or a situation and determine “that’s enough; something is going to change NOW.”

A firm decision results in an attitude shift.  Your attitude will get you everywhere.  The relief associated with a major attitude shift is phenomenal.  The trauma and stress are all previous to the decision.  Once the decision is made, the attitude turns positive and progressive.  The stress comes from the “should I” or “shouldn’t I” dilemma.  Stop shoulding all over yourself and get with the program.

So many people spend so much time getting ready to get ready that they never actually make a decision.  What is it in your life right now that is holding you back from making a progressive decision, a progressive attitude?  Wealth builders and  self-made millionaires all make decisions.

Self-made millionaires possess decision oriented habits and positive attitudes.  Wealth builders know that a positive attitude will get you everywhere.  It starts with a dream and builds to a goal.  A plan forms designing the process to reach the goal.  Absolute laser focus is applied to the implementation of the plan.  Frequent benchmarks or checkpoints are established to insure the plan is on course.  Will there be adjustments? Yes.  Even a jet airplane does not go from San Francisco to New York without a few minor tweaks and turns.

The entire process starts with a firm decision and an attitude shift.

If your life or plan is off target, check your attitude.  Queasy attitude probably means there is a decision in limbo.  Clear the roadblock by determining what decision you have procrastinated about making.  Make the decision.  Feel the relief and the positive attitude shift.

You can never make forward progress and remain sitting on the fence.  Make the decision.  Establish a positive attitude.  Set the goal and the plan to achieve it.  Establish the course correction checkpoints and prepare to celebrate victory.

For more positive attitude tips and techniques, join me at http://www.elaine4success.com/

Is your net worth sinking from the black into the red?  Is your wallet shrinking right along with your confidence while you eat out of tension and your waistline goes the other direction?  What you want is a tensionectomy?  I’ll let you in on a little secret.  Shhhh.  Having the right non-conflict of interest information at the right time and knowing what action to take plumps your wallet and strengthens your self confidence.

Wealth creation strategies require passion, perseverance and a commitment toward permanent improvement.  Get rich quick schemes are for the foolish, lazy and perhaps unethical.  Serious wealth creation strategies require a mindset change.  If your current mindset would create a path toward wealth, you would already be rich.

Millions of people invest hundreds of thousands in college, various schools and classes every year.  Americans, and now the world need solid, accurate financial information.  How much are you willing to invest in yourself to receive honest, non-conflict of interest education about how to earn more money and make better choices with the money you do have?

The alarm bells are ringing all over the world now.  The euro is screaming in terror as its debt level rises to flood stage and it is swimming in a sea of red ink.  The US Dollar has been drowning in its own red ink for months now and the massive bailouts are causing it to go down for the third time.  Pouring in more debt, red ink, to an already overflowing debt level only intensifies the problem.

Now since we are doing such a terrible job of managing our own economy, we have decided to expand this disastrous flood stage economic model to Europe, Portugal, China and any other poor soul who decides to listen.  Increasing debt far beyond what can ever be repaid makes no sense.

Hello, bankruptcy.  When your debts far exceed your current and future income, you are bankrupt.  Running the printing presses to flood the market with deflated dollars is like tying a big rock to your wallet and expecting it to float to the surface.  What are we doing to ourselves?  Even worse, what are we doing to future generations?

Wealth creation strategies require making wise decisions with current money and becoming wealth builders for the future.

1. Stop buying things you can not afford with money you do not have to impress people who do not care.
2. Start taking your financial education from people who want to educate you rather than sell you the latest and greatest “get rich quick” scheme.  Real wealth does not happen overnight.  It is a mindset of wise decisions at the right time backed by action.
3. Stop jumping on every fad that floats through the media.  Pet rocks are long gone.

The US economy and the world economy are changing rapidly.  If you go with the flow of the masses, you will go down with the masses.  By the time information floats down through the spin artists from the top of Wall Street through the media and talking heads down to main street, it is far too late to act on it.  Come learn the facts.

Join me at http://www.elaine4success.com/ and get honest non-conflict of interest information.