Hello again. My topic today is investments.
If it was possible to simply look in the classified ads and find a guaranteed safe investment that returned more income than it cost each week you would call that a money tree. How many would you buy?
What if any bank would lend you as much as you asked for to purchase these money trees….. How many would you buy? Would you take the lot? How long do you think they would last before they were sold out if you didn’t buy them all?
Why do you think genuine money trees do not appear in the classifieds (or anywhere else for that matter)? Logic tells you that if they did exist they would all be gone in the first few minutes and anyone who slept-in would miss out.
What does this tell you?
If you ever look for a worthwhile investment you are going to have to exert a lot more effort than just opening the local paper!
Flip things over
If you had grown a crop of money trees that you were going to advertise for sale, how much would you advertise them for? If it was me, I would offer them for a price that gave me a nice healthy return for my efforts but still with enough benefit in there for my prospective customers that they would be keen to buy from me at that price.
Let’s face it though; it’s highly unlikely you will ever find easy riches advertised in the paper or anywhere else for that matter. You are going to have to work a little harder and smarter than that!
Did you notice this morning that 100 days of 2014 are gone!
Are you closer to having your own money tree now than you were at the start of the year (or a year or two ago for that matter), or are you still trying to find the shovel so you can go dig the hole to plant it?
You know, now is the absolute best time to stop and look at where you’re at and where you’re heading in the future or another 100 days will slip by unnoticed and you will be no better off.
Over 18 years ago I started helping people achieve more with money by showing them a totally different way to prepare their household budgets. After the first few customers I was hooked! I just loved the feeling I got from knowing I had helped someone who wanted more but just didn’t know how to get it.
Since that humble beginning I have been totally driven by the desire to help people improve their financial direction and that’s why I would love to be able to say before the end of this year that I helped you get your Money Tree planted and shooting nicely, or if you already have a money tree that I helped you fertilise it.
Here are some steps I recommend you take to achieve this:-
1. Work out where you are right now.
2. Decide where you want to be this time next year, in 3 years time and in 10 years time.
3. Create a budget plan that gives you targets to aim for throughout the next year and beyond so you have little or no stress paying for your living expenses and you start moving towards your goals.
3. Shop around for better rates on insurance, communication, energy, entertainment etc and investigate ways to reduce wastage (a dollar saved is worth more than a dollar earned!)
4. Make it a high priority to reduce any consumer debt you might have.
5. Take deliberate steps to increase your income (look for problems that need solving).
6. Save some of every pay. I.e. pay yourself first (ideally 10%).
Yep, this might all sound easy but you know it is not as easy as it sounds. If it was easy everyone would have their wealth plan all worked out and nobody would have financial stress in their lives. Everyone would have money trees bearing nice big fat juicy $100 bills.
Creating wealth is simple but it is not necessarily easy!
The problem…. we are all human and struggle to do what we know we should do because we prefer to do what we want to!
If you want to take these simple wealth steps and you know you need help to do so, then I have already organised the first step for you below.
I have placed a Microsoft Excel file on my web-site for your use at http://www.simplybudgets.com.au/SnapShot.xls
If you have Excel on your computer it will most likely open straight away. Just save it to your hard disk drive using the ‘Save as’ command under the ‘File’ menu. If you use a Mac computer you should be able to open it using the equivalent Mac spreadsheet software.’
You should save it to your desktop or somewhere else easy to find because I want you to revisit it at least 4 times this year and hopefully more often so you can monitor your progress closely.
As you work on this spreadsheet you will find that there are 4 tabs at the bottom. These will allow you to work your way through the 4 pages. The 4th page will give you a summary of your financial position right now which will be Step 1 completed.
If you realise you want help to make a concentrated effort to move forward from your current position I would love to help you.
Right now I am taking new enrollments for my Simple Wealth Steps course and I’ve added a great bonus; I am including regular personal support calls (with me) to make this course even more powerful for you. You won’t find a more cost effective way to put the pedal down and accelerate your financial progress!
That’s all for today. Have a goody!