One item I send out in the ‘start-up’ pack I post to new Simple Wealth Steps members is the book “The Richest Man in Babylon”. Written by George S Clason and published in 1926 over 2,000,000 copies have been sold worldwide since it’s release.
You may recall that the ‘roaring twenties’ was a crazy time of sustained economic prosperity leading up to the stock market crash in 1929 that started the great depression. I expect nobody was interested in what George had to say at the time the book was launched but no doubt many wished they had taken notice in the 1930’s!
One of the main points made in this book is that if you go to work all week, collect your pay on Friday and then use the money to pay your bills and put money in your purse or wallet for living expenses and promise to save what is left over at the end of the week you do not have a chance of ever becoming wealthy. This is referred to as paying yourself last.
George Clason points out that you should pay yourself first by banking money from your week’s pay before you even begin to think about paying bills. Otherwise everyone else is getting paid first!
I know all the arguments and stories around why people don’t pay themselves first. They fall into two categories.
- I can’t afford to save. I’m flat out struggling to pay my bills right now let along putting some money away for later on! I’ll save when I can afford it.
- What’s the point of saving? I might get run over by a bus tomorrow so I should just live for today and enjoy myself and let tomorrow look after itself.
Do either of these ring any bells for you?
There comes a time in the Simple Wealth Steps course where I simply ask my students to open a bank account and start saving money regardless of whether they can afford it or not.
Without exception, everyone who has done what I asked (regardless of whether they can afford it or not), has e-mailed me later on to say they can’t believe how well they have managed to live without the income they are now saving and how excited they are to see their savings growing.
The other thing they say is that they would never have believed they could afford to save, but since they have just started doing it anyway a magical thing has happened and they have not starved or gone without, and they feel fantastic to be paying themselves first.
So; Simple Wealth Step #8 is to PAY YOUR SELF FIRST regardless of how you feel.
10% was the magic number George Clason suggested. For people who baulk at that I suggest starting with a nominal amount and then increasing it in stages, maybe using a pay rise as the trigger to increase the savings rather than the spendings!
The easiest way I know of to pay yourself first if you are an employee is to have a payroll deduction set up so the savings is done before you actually get to see that money. It’s a case of ‘what you don’t see you don’t miss!’
What to do with that savings money as it grows is a whole other topic that you will never get to learn about if you don’t get this first step happening so I encourage you to start now, no matter what your situation is. Just do it!
Over the last 3 weeks or so I have been giving you an insight into the 11 Simple Wealth Steps I cover in my course of that name. I have sent these e-mails to everyone on my mailing list regardless of who they are. I.e. people who have previously done the course, people who are currently doing the course and people who have never even started it!
I did this because I know that no matter who you are, you need to constantly be revisiting these basic truths to stay motivated, to stay focussed and to keep moving forwards.
I have encouraged people who have not done the course to give it a go by offering month one for less than it costs me to deliver the start-up pack I send out (It’s just $14.95 – Click Here for more information).
I also wanted to encourage all present and past students to be mindful of and stay in touch with these 11 steps and I include myself in that. I reckon I get as much (or more) out of writing and sending these 11 steps to everyone as the people who read them.
So today was a very simple step; Pay Yourself First.
Put it into practice and you will never regret it!
Last time I wrote to you the topic was to Increase Your Income and I was able to make an incredible offer of fr`ee tickets to a four day internet marketing workshop presented by good friends of mine Andrew and Daryl Grant. I have had phone calls and e-mails from people asking me if these guys are genuine, if this offer is for real and asking is it really worth giving up a whole (long) week-end for.
In every case my answer has been a resounding YES.
Andrew and Daryl made $250,000 in their first year online and 3 times that in their second year so if anyone can show you some worthwhile tips they can!
I don’t know when they will remove the offer. I know some of the tickets I was allocated have already been snapped up. I don’t know how many more are available but I do know that at the time I sent this e-mail the offer was still on the table.
If you are looking to increase your income I believe the internet offers so many benefits and opportunities it is astounding. In the future, students studying history will learn how, at the beginning of the 21st century, a major social change occurred that undid what the industrial revolution had done.
The industrial revolution killed off home based ‘cottage industry’ and people started moving to the larger centres looking for work in factories and offices.
The internet now has people moving back into smaller less stressful environments, to a location of their choice and running businesses from home that do not require them to be standing behind a counter or sitting behind a desk from 9 to 5.
Andrew and Daryl’s ‘Our Internet Secrets’ workshop will have 7 guest speakers who will tell how they each took the information they learned at a previous ‘Our Internet Secrets’ week-end and went home and radically changed their lives for the better.
If you are genuinely interested in learning how to earn extra income via the internet don’t delay! As I said last time, a ‘jam packed’ week-end full of practical information you can take away and use (all at no cost) does not come along every day so don’t waste the opportunity!
Go to http://www.ourinternetsecrets.com/aff/?w=OIS4day&p=dwright to put your name on one of these tickets (actually they are double tickets so you can bring your other half as well). Do whatever needs to be done to free up the 14th to the 17th of June. It is going to be a massive event.
That link again is http://www.ourinternetsecrets.com/aff/?w=OIS4day&p=dwright
And… don’t forget to Pay Yourself First.
That’s all for now…Have a goody!