Good day Citizen,
In order for us to break the chains of generational poverty and move towards generational wealth, we must build wealth building habits as well as developing a mindset to achieve it. I won't be long winded because it's not necessary but start with these tips:
- Live on less than you make. Most will not even make it past this one but for those who can will have taken the first step. Find ways to lessen your monthly financial obligations. For example, subscribe to a lesser phone plan, reduce/cut your cable and/or home telephone, or eat out less.
- Keep on learning and finding ways to grow your income. Although the ultimate goal to wealth building is "buying" the most precious commodity we have...time. In the meantime, a side hustle is essential. Most pursue a side hustle that can replace the daily grind we call a J.O.B. (Just Over Broke). Self-education is key for this to manifest. Find a mentor to assist in achieving your goals.
- Write a monthly budget. Write a budget that includes saving, giving and spending. Before you begin take a month to assess your spending and proceed from there. Some use the 80/10/10 principle to achieve this particular goal.
- Plan your spending. I personally come from an era when we wanted big ticket items, we put it on layaway. That option has since fell to the wayside but adequate planning for those items without blowing your budget is possible. Something as simple as using a container at home to opening a bank account for a specific purpose will do the trick.
- Stay out of debt. This one is very important. You would be surprised how many will finance groceries (yes, I said groceries) using a credit card. Now, I'm not saying credit is bad if one pays off the debt at the end of the month. Every Month!
- Pay yourself first. You head off to the plantation aka your job every day and most will tell themselves they work to pay the bills. What about you? Don't you deserve something for yourself? Determine your worth and deposit it in a separate account for you to do whatever your heart desires.
- Use your gifts and extra income wisely. If you've achieved steps 1-6 successfully every month, this one will be a no-brainer. You could use this financial windfall to support your side hustle and/or support a cause dear to your heart. The choice is yours.
- Put your money to work. Don't let excess money sit in a bank account where it will at best grow annually @ 1%. Those paltry returns will not help you in your golden years. Find a worthy investment instrument and put your money to work. If you need some help in regard to putting your money to work, we can help. Inbox us or visit https://th3rdfx.org for more information.
I know you will succeed in your endeavors...
Peace, love and light!
Peace, love and light!
Recommended Reading: The Power of Habit: Why We Do What We Do in Life and Business by Charles Duhigg
#GoAndBeGreat, #Th3rdFx, Disclaimer: Trade at your own risk. Results may vary. Past performance does not guarantee future results. Never risk what you're not willing to lose.
Paradigm shift definition is - an important change that happens when the usual way of thinking about or doing something is replaced by a new and different way.
Definition of PARADIGM SHIFT
Paradigm shift definition is - an important change that happens when the usual way of thinking about or doing something is replaced by a new and different way. How to use paradigm shift in a sentence.
