Knowing Where To Tap!


An expert was called to fix a broken machine. The expert assessed the situation, spotted the problem, took out a hammer and tapped twice in the same spot. He billed the superintendent $250. He was furious, asked for the breakdown and got this:

 

Tapping with a hammer. . .$1
Knowing where to tap. . . 249
Total $250 

The rich get richer because they know where to tap, the poor get poorer because they don’t!  Do you know where to tap in 2011?

 

 

Financial Discipline

Becoming financially capable, independent and secure is a desire many of us have. We look forward to a time in our lives when money is no longer a problem and we can live our lives without financial worries. Yet most of us still live from paycheck to paycheck and just scrape by. The basic rules of becoming financially free are really quite simple and can be learnt by anyone, anywhere, irrespective of age, gender or location. It is the implementation of these rules week after week, year after year that is the challenging aspect. Listed below is a list of simple truths to set you up for financial freedom.

Interest
You must develop interest in anything that will help your finances improve. You must get to a point where you are tired of lack and financial worries so much so you want to learn how to make more money legitimately and ultimately grow your finances. Not only will you learn but you must be willing to apply yourself to the things you’ve learnt, no procrastination and no paying of lip service, action is it!

Information
For anyone who intends to succeed in business or investment you must be hungry for relevant knowledge, quality information! You have to acquire as much knowledge as you can. That doesn’t mean you have to spend ten hours everyday watching the stock market or going to university to get a degree in finance, it simply means you should have a good general knowledge of the basics which will give you more intelligent options to choose from. You will seek information in the newspapers, business journals, stockmarket news on TV, radio, internet and more. As you learn to earn you will also learn to avoid making poor decisions that cost you money.
 
Financial goals
There is need for you to form a habit of setting realistic financial goals for yourself. You can set quarterly goals, annual goals and long term financial goals of say 5years or more. It helps you measure your performance and progress made towards financial freedom. It gives you a reason to want to forge ahead in your finance agenda and the strength to keep moving on. Even when things seem tough and challenging, the clear target you have set for yourself will give you the motivation you need to continue the journey. There is also no harm in reviewing your goals from time to time, all that matters is that you keep moving towards your expected end. You can consult a finance advisor to help with some professional advice and other details that will help you move from your present financial status to your projected status.

Controlled Spending
If you ever want to be financially okay on time then you must learn to control your spending. Don’t be an impulse buyer, don’t just spend money like spending is your hobby, that is not wisdom. Discipline yourself to go for the things you need alone. Reduce your expenses as much as you can, see money in your hands as seed that you need to plant to get a harvest. When your harvest comes then you can eat from it, celebrate yourself and plant from it to continue the process for another harvest. For a man that wants to be free from money problems and get to a stage in life where there is more than enough, you must learn to manage what comes into your hands properly, there is no shortcut to it.

Patience
Anyone can get rich it is just a question of time and clarity of what to do to be rich. Once you set a financial target for yourself, start putting money aside for that purpose, the earlier the better. Let it become a habit, don’t procrastinate and don’t be weary, consistency is the key.
Also to arrive at your destination faster, take advantage of the power of compound interest. This is a situation where your earnings from your initial investment is reinvested and the cycle continues on and on. Nothing grows your money faster than compounding it. You start small and end big! So don’t delay start today, right now! Be patient and you will get there.

Like the popular saying “nothing good comes easy” money making is not so easy too but it can be very interesting especially when the results start coming in. Getting rich is about taking many small disciplined steps over a period of time. It is highly rewarding both in your life time and for generations after you. “Sleep tonight, wake up a millionaire” schemes won’t help, turning to lottery will only mean leaving your life to chance but the steps listed above will do you much good if you apply them. Discover what you can do to generate income, start saving, don’t stop at savings but go a step further by investing what you have saved. Repeat this simple process over and over, make it a habit and you will soon celebrate your victory over lack or hardship and join the league of the rich, very rich!
 
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