Get The Wealth Wheel Rolling (day43/365)

We have some more tips today from Robert T. Kiyosaki, “Rich Dad Poor Dad”.

Finding great asset building deals is a bit like learning to ride a bike. Once you’ve learned some things and practised, it’s easy. What we need to get through the wobbles with, is some determination.

# We need a reason greater than reality.

Do we have a positive mindset to take a step at a time and triumph at the end or is the road too hard with too many hills? Do we want to be financially free or will we settle for working in exchange for money til we drop?

#Choose daily.

We need to make the choice every day. We need to picture our future every day. We need to discipline ourselves every day. We need to educate ourselves every day.

#Choose friends carefully.

We need to choose friends who we can learn from. Learn sound financial practices, learn love, learn positive thinking and planning.

#Master a formula then learn a new one.

Study something, do it, perfect it, then move on to learning something new. The more we learn the faster we will find the formulas working for us.

#Pay yourself first.

There’s a lot to be said for self-discipline. We are always going to have bills, needs and wants and we can easily spend all our income on them. The discipline is to keep aside a portion (10% or more) of our income that is to only be used for purchasing wealth building assets. We will get creative to find enough income to pay for the bills etc.

#Pay your brokers well.

If they are getting paid a good commission, it means we are getting paid a great income.

#Be an Indian giver.

Get something for nothing. Use funds to invest. As this multiplies, withdraw the original amount and start another investment elsewhere.
Also look for deals that include something free ie. land, stocks, mini-storage, an office building etc.

#Assets buy luxuries.

Once assets have multiplied, then withdraw cash to purchase cars etc. (Don’t use your original income for liabilities)

#The Need for heroes.

Picture yourself as an investment guru as you make enquiries, deals, purchases. Find out how they operate and do the same.

#Teach and you shall receive.

Or, Give and you shall receive. Whenever you desire something, give what you want first and it will come back to you in plenty. Use it for love, money, friendship, a smile.

I hope you are learning as much as I am from this book. It’s one thing to learn, and quite another to discipline ourselves though isn’t it? Are you up to the challenge?

Make Money Work For You (day39/365)

If the financial area of your life is one you need to work on, then strap yourself in as we take a ride through “Rich Dad Poor Dad” by Robert Kiyosaki.

Lesson #1. The rich don’t work for money.
They make money work for them

We can exchange our time for money and spend our life living in a fear mentality where we accept that if we don’t work, we won’t be able to pay our bills.

Or we can clear our thoughts of the fear and imagine other options to have money working for us. If we could step back and look a little more clearly at the things around us, it would give us the opportunity to see things. Things that others who are too busy working miss.

Lesson#2. Rich people acquire assets.
The poor and middle class acquire liabilities.

An asset is something that puts money in our pocket.
A liability is something that takes money out of our pocket.

One question posed is whether our home is an asset or a liability. If it is not making us money, then it is in fact a liability.

There’s no doubt that money without financial intelligence is soon gone. Stay on the ride for the next lot of information to increase our knowledge and grow our assets.

Grow Big By Thinking Big (day 33/365)

As I continue to read “The Magic Of Thinking Big” by David J. Schwartz I would like to share with you the tips given in chapter 4.

# Don’t have an inferiority complex. We all have assets. Focus on those positive areas rather than your negative liabilities.We are better than we think we are.

# Use a big thinker’s vocabulary. Avoid words that limit your future to failure and defeat. Use words that inspire hope, happiness, victory, fulfillment, pleasure.

# Stretch your vision. Look beyond what is. Picture what can be. Add value to yourself, other people, things.

# Get the big view of your job. Treat your current job as important. Your next job depends on how you think towards your current one.

# Think above trivial things. Before getting involved in a petty matter, ask yourself, “Is it really that important?” Focus your attention on big objectives.

So again it comes down to positive thinking. When the lemons roll into your life, turn them into lemonade, enjoy sharing the refreshment with others and move on to do something else big and exciting in your life.