10 Steps To Financial Success: How to get the best life you can with the money youve got

The 7 Point Formula For Financial Freedom

Rewrite and review your goals on paper every day and think of how you could accomplish them. This will take you between five and ten minutes. The very act of writing and rewriting your goals, and thinking about them each morning before you start off, will increase your chances of accomplishing them. The very act of planning each day, each week, and each month in advance will make you far sharper and more precise at everything you do. You will find yourself with better focus and a greater sense of self-control and personal power when you work from a list.

When you plan every day in advance you will be better able to control and track your spending habits as well.

BRIAN TRACY

Plan how much you have to spend for the week, the month, the year and decide where you will be able to save. Virtually everything you do in terms of goal setting and financial planning is aimed at enabling you to determine the one or two things that you should concentrate on more than anything else. Your ability to develop the habit of concentration will do more to ensure your personal finance success than perhaps any other skill or habit you can acquire. The things you focus the most on and spend the most time doing should be in direct alignment with your financial goals.

Listen to audio programs in your car. The average person spends to 1, hours per year behind the wheel.

• How to Save Money and Achieve Financial Freedom!
• The Defective?
• Ten Steps To Financial Success For A Minimum Wage Earner;
• 50 Personal Finance Habits to Follow;
• Breeze Tease;
• .

By turning your car into a university on wheels, you can become one of the most knowledgeable and most skilled people in your profession. Very soon you will have so much knowledge in the area of money that people will come to you for advice. By reviewing your performance immediately after every meeting, sales call, and presentation, you will become better and better, faster than you can imagine.

By reviewing what you did right and what you would do differently next time, you program into your mind a predisposition to be even better the next time out. If you take a few minutes and write down everything you did right and everything you would do differently immediately after a call or presentation, you can double and triple the speed at which you learn and grow and improve in your work. Treat every single person, at home and at work, as if they were the most important person in the world.

Since everybody believes that he or she is the most important person in the world, when you treat them as if they were, they appreciate your recognition and acknowledgment more than you can imagine. It is a proven fact that being a more generous person will help you attract more wealth and become a happier person.

Not only do our measurements of happiness rise as our income rises, so does our sense of well-being and life satisfaction. So, by choosing to focus on money goals that motivate you, while also embedding a positive mindset towards money, towards yourself and life in general, you will help to achieve both increased wealth and happiness.

And when you get there — evidence clearly shows us that being generous with our money makes us happier — and richer! Did you know that the decisive factor in the achievement of financial freedom is the development of specific habits? In fact, most self-made millionaires have already learned these habits and as the result of practice and repetition, have reached financial freedom.

Because you can learn to save money and think like self-made millionaires to become financially independent yourself. Perhaps the most easily identifiable habit of self-made millionaires is the habit of frugality. Refusing to pay the minimum on your credit card bills each month. Using your credit card to buy things only if you can pay it off in full at the end of each month.

Avoiding the use of payday loans to cover temporary financial shortfalls. Eliminate monthly shortfalls by following a budget and maintaining an emergency fund. There is a reason why the lottery is known as the Stupid Tax.

Never overpaying for insurance. For example, why pay the higher auto insurance premiums for low deductibles if you rarely make claims? Resisting the urge to float checks right before payday. Today, faster bank processing makes this practice much more risky than it used to be. This expensive habit is one of the Four Horsemen of personal finance. Buying a new car — or better yet, a newer used car — and keeping it for at least ten years. Buying new cars is costly because they can lose upwards of half their value by the time they are three years old. Regularly checking your credit report for errors, signs of fraud and identity theft.

50 Personal Finance Habits Everyone Should Follow

Optimizing your k account every year. Diversifying and balancing your allocations will minimize your losses in the event of a major market downturn. Your net worth is a snapshot of your finances at one point in time. It is a good idea to calculate your net worth at least once a year. Your net worth should increase over time. If it is not, either you are not saving enough or taking on too much debt. Adjusting your spending and savings plan can help you change this discussed in Step 3. Cash Flow Do you know exactly where your money is going each month?

If not, you are not alone. Many of us are well aware of the symptoms of financial distress we are experiencing, such as having credit card debt, overdrawing a checking account, not being able to save, or paying bills late, but are not sure of the cause. Assessing your cash flow can help you figure that out. Incomes are cash in-flows.

BalanceTrack: 10 Steps to Financial Success

The most common source of income is wages from a job, but it can also include things like investment earnings, child support, alimony, rental payments if you are a landlord , government benefits, gifts, and profits from self-employment or a hobby. While gifts, child support, and some government benefits are generally not taxable, most income is.

Your gross income is your income before taxes are taken out. Your net income is your income after taxes are taken out. Expenses are cash out-flows. They can include essentials, such as mortgage or rent, food, and medical costs, as well as things you choose to spend money on, such as piano lessons and vacation. Savings can be considered an expense too — the money may not be leaving your hands, but you are setting it aside to not be used for other purposes. Use the Cash Flow Worksheet to list your income and expenses.

To get as accurate figures as possible, you may want to track your daily spending.