Apr
16
Wealth Principle - Put Yourself In A Critical Condition
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There is a famous saying by Donald Trump, “As long as you’re going to think anyway, you might as well think big.” So, make sure that you have a big or monumental goal. It is very natural then, that later on you will eventually ask yourself: “How do I achieve this big goal?”
Our brain plays an important role when we set our goal and formulating plan to achieve it. It is important to note that when our brain is given a choice to do something or to put it off, we will always be pulled towards the more comfortable path, especially if the goal is so difficult to achieve. However, when we have no choice but to do something no matter how big it is, our brain will start taking us seriously and we will always find a way!
Therefore, to ensure that you achieve your big goal successfully, you must put yourself in a critical condition where you have absolutely no choice but to achieve the goal. You put yourself on the line where there is no doubt that the only option is to succeed. You focus on success, you think success, you breathe success, and you dream success. As Benjamin Disraeli said, “Life is too short to be small.” Read more
Apr
8
How to Find Out If Your Money Management Plan is Working
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One of the most overlooked topics in trading, Money Management has the power to make or break you as a trader. It would be fair to say that you could be the best trader on the planet, but if your money management strategies are deficient, you will probably go broke very quickly. Money Management is an essential element of trading discipline that is practiced by all professional traders.
So what is Money Management? Money Management is essential to preserve your trading capital and is simply a set of rules that governs how much money you have at risk. Ask yourself the following questions to determine whether or not your Money Management plan is in good working order: Read more
Apr
4
Buy to Let: An Excellent Way to Grow your own Business
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When I sit down with investors and they ask me what area of property investing they should go into, I almost always will say go for buy to let and will relate it to business.
If you think of large businesses and how they measure growth and performance. They will continually talk about growing by either opening new branches or shops, or taking over existing ones.
So for instance a company may say “Our target is to open 30 new stores throughout the UK in 2008.”
Another company may say we shall consolidate our position and work on performance of existing stores. In terms of growing as a business, this is where buy to let has a huge advantage over buying to sell.
If you buy to sell, you have to re-start your company each time, and are not building up any longer term growth, you can make short term profits but you work very hard for this at times and is not very tax efficient. Read more
Feb
24
The Budget
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A carpenter uses a set of house plans to build a house. If he didn’t the bathroom might get overlooked altogether.
Rocket Scientists would never begin construction on a new booster rocket without a detailed set of design specifications. Yet most of us go blindly out into the world without an inkling of an idea about finances and without any plan at all.
Not very smart of us, is it?
A money plan is called a budget and it is crucial to get us to our desired financial goals.
Without a plan we will drift without direction and end up marooned on a distant financial reef.
If you have a spouse or a significant other, you should make this budget together. Sit down and figure out what your joint financial goals are…long term and short term.
Then plan your route to get to those goals. Every journey begins with one step and the first step to attaining your goals is to make a realistic budget that both of you can live with.
A budget should never be a financial starvation diet. That won’t work for the long haul. Make reasonable allocations for food, clothing, shelter, utilities and insurance and set aside a reasonable amount for entertainment and the occasional luxury item. Savings should always come first before any spending.
Even a small amount saved will help you reach your long term and short term financial goals. You can find many budget forms on the internet. Just use any search engine you choose and type in “free budget forms”.
You’ll get lots of hits. Print one out and work on it with your spouse or significant other. Both of you will need to be happy with the final result and feel like it’s something you can stick to. To read another topic on different site categories, please visit recursion, strojmat, maesc, cubaaction, dengarblog, soahubs, doktermuda, ririn’s, bazzanella, playyourpart, sielmob, spazphotos, and groesbecktennis.
Feb
20
Spend Wisely to Save Money
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Have you ever noticed that the things you buy every week at the grocery and hardware stores go up a few cents between shopping trips? Not by much…just by a little each week but they continue to creep up and up.
All it takes for the price to jump up by a lot is a little hiccup in the world wide market, note the price of gasoline as it relates to world affairs.
There is a way that we can keep these price increases from impacting our personal finances so much and that is by buying in quantity and finding the best possible prices for the things we use and will continue to use everyday… things that will keep just as well on the shelves in our homes as it does on the shelves at the grocery store or hardware store.
For instance, dog food and cat food costs about 10% less when bought by the case than it does when bought at the single can price and if you wait for close out prices you save a lot more than that.
Set aside some space in your home and make a list of things that you use regularly which will not spoil. Any grain or grain products will need to be stored in airtight containers that rats can’t get into so keep that in mind.
Then set out to find the best prices you can get on quantity purchases of such things as bathroom items and dry and canned food.
You will be surprised at how much you can save by buying a twenty pound bag of rice as opposed to a one pound bag but don’t forget that it must be kept in a rat proof container.
You can buy some clothing items such as men’s socks and underwear because those styles don’t change, avoid buying children’s and women’s clothing, those styles change and sizes change too drastically.
Try to acquire and keep a two year supply of these items and you can save hundreds of dollars. To read another topic on different site categories, please visit recursion, strojmat, maesc, cubaaction, dengarblog, soahubs, doktermuda, ririn’s, bazzanella, playyourpart, sielmob, spazphotos, and groesbecktennis.