Start to Compete

So you want to be able to compete in this world and build your wealth. The first thing you need to do is get in touch witht the things around you. You need to understand what's going on around the world. Pick up trade journals and review information such as the Wall Street Journal. Issues in the world have the tendancy to effect everything that you are doing. For me to put it into a simple form, "Issues effect your money".

Mad Money

It's all about the Mad Money... The fast talking and loud and crazy stock expert. Check out the website and view his show.

http://www.cnbc.com/id/15838459

You have a choice

There's always a choice in everything that you do. Everyday you make a choice to go to work or not go. You make a choice to brush your teeth or not brush them. So if you don't believe that you have a choice to be financially stable you are wrong.

What's your choice? Decide today to be financially healthy.

How to Be a Savvy Cheapskate

I like to read yahoo finance and came across a good article. The article is, "How to Be a Savvy Cheapskate" by Katey Marquardt. I really enjoyed these tips on thinking about about money.

http://finance.yahoo.com/news/How-to-Be-a-Savvy-usnews-3454225752.html?x=0

Don't be like everyone else

When you try to keep up with the Jones's you'll end up in the same place as the Jones's.

In debt...

Your dream is your happiness

What's your dream? Your dream should be a representation of where you want your life to end. What do you see yourself doing and the things that you will have? Dreams are powerful - when you stop dreaming this is a sign that your life has stopped. Your life should always be filled with dreams of things that you wish to achieve. A dream is the starting point to something that you would like to build or do. As long as you continue to dream about something you will continue to find a way to achieve your dream.

Quick Thought

Life is like a sports game, there is the first half and the second half. In the first half you try to get a feel of the situation. During this time you make a lot of mistakes and do some crazy things. The second half you try to come out and minimize your mistakes and take the things you learned in the first half and capitalize on them.

In your life are you in the first half or the second half?

Invest in yourself

To get on the path to success you must always invest in yourself first.  Give yourself a chance to be able to produce the most income as possible.  The way that you do this is by receiving an education whether it's a trade or college.  Education will put you on the path to receiving a high wage for the service that you provide.


Another way to invest in yourself is to read books.  Read as many books as you possibly can on other people who are successful.  Look to see how they became successful and if you can use part or all of their technique to do the same thing.

New cars are only cute for a season

When I was in my early twenties I made a mistake that I didn't understand until it was years later.  I went out and purchased a brand new car on credit.  I loved the car but realized by year two the car wouldn't be worth near what the loan total was.  It was too late, I was locked into a car payment that I really didn't need.  Remember, the name of the game is to build your money army to be strong.  If your army is strong enough you don't need credit to purchase a car.  CASH IS POWERFUL If you decide to use credit it's only to increase your credit score which should be part of your long term strategy.  If you don't believe me go to the mall and drop your credit application on the floor and see if anybody takes it.  Turn around and drop $100 on the ground and see how quickly someone will pick it up.

Think about it like this - how often do you see people buy cars and as soon as they are paid for end up trading them in on another one?  They've purchased a car that depreciates in value - pay it off and then turn around and get rid of it to start the whole process over again.  That's a path for failure...  Your car is NOT an asset but more of an expense.  How often do you put gas in your car?  How often does your car break down?  How often do you make a car payment? A car creates many casualties in your army.  If you are going to purchase a car figure out how to minimize your casualties. STRATEGY STRATEGY STRATEGY

*An asset is something that will make money for you and preferably with no effort on your part.

Rule 1: Every month take a percentage of your money to invest in your army first.
Rule 2: Create a strategy
Rule 3: Improve strategy
Rule 4: Repeat steps 1 and 3

Going beyond your job - build an army - Part 1

Jobs are a good starting point to create a living.  For a person who wants to build wealth you have to push yourself to think beyond a job.  Look at a pay check as a building block to something bigger.  Determine how to invest your money into something that can grow.  Each dollar in your paycheck is what I like to call a recruit in your money army.  It's your job to figure out how to grow your army to be large and very powerful.  Most people do the opposite and spend a money recruit every chance they get.  When you spend a recruit look at it as a casualty.

Do you ever think ahead determining how long you will need to continue to work?  Do you consider what would happen to your lifestyle if you lost your job?  These questions will help you to understand why you must increase your money army. 

Money should be thought of as a tool to conquer a situation not as a reward to buy things.  There are simple things that can be done to increase your money army.  What if you took $20 per pay check and put it in a savings account in another state?  How much money would that accumulate in 10 years?  Start off simple and work your way up to bigger things.  Does uncle Sam hold your tax refund for you every year?  If he does how about taking the refund and put it into a mutual fund or Certificate of Deposit (CD) every year?  Since you are letting uncle Sam have your money for free with no interest you should figure out something to do that will benefit you in the long run.  IF IT DOESN'T MAKE A RETURN IT DOESN'T MAKE SENSE.

Something to think about...
"A person with a large army doesn't waste time worrying about things a person with no army or a small army does." - Jhasmal Hardyway

Is Failure due to your inability?

We tend to believe failure is due to our inability to do something well.  In many cases this isn't true...  Failure depends on whether you are willing to take the initial action to start.  There are times that if a person would make an attempt and repeat until success is achieved they would be better off.