There must be some reason why certain men are able to stay rich, and grow their fortunes, while the rest struggle to make ends meet.
Wealth is a state of consciousness; it is a mind conditioned to succeed. Understand this and any actions towards financial independence will follow effortlessly. If you are tired of being trapped in the never-ending money-chase then…
Every guy who aspires to become wealthy has to buy or build money machines that generate passive income and let him earn money while he sleeps.
Saving is the first step
Financial independence can only be obtained with discipline. You need to save part of your income to get some cash that will help you build your money machine. Try to save between 15% and 20% of your income. If it’s too much for you, don’t worry, just save any amount you can bank consistently.
Buying bargains is not saving
I have a friend that is constantly bragging about how he always gets the best deal on the stuff he buys. He thinks he is a big saver. But the truth is, he is always broke. You don’t need to buy tractor wheels if you don’t own a tractor, it doesn’t matter if they are on sale. If you buy stuff you don’t need you are not saving!
The money you have, even if it is a lot, is limited and you need to make the best possible choices when using it. When you take a decision you are leaving other alternatives out. That other choice is what economists call opportunity cost and you need to be aware of it. For example: when you get married you won’t be able to see your old girlfriends any more (hopefully); in this case your old girlfriends represent your opportunity cost.
Next time you buy something think of it in terms of future value. Ask yourself: Could I use this money to generate passive income? How much money will I lose if I buy this today? What other alternatives do I have to use this money? Instead of buying stuff you don’t need save and invest your money. You will be able to buy the same stuff tomorrow with your profits.
The money machine I use
“If you want to make money, hold your nose and go to Wall Street”
– Warren Buffet
There are a lot of alternatives that will help you earn some passive income. I personally invest my money in the stock market; it is a great option. Find a system that operates in a mechanical way; we don’t want to be in front of the computer all day. If you use an effective system and sound money management rules I promise you will make a profit.
Use logic to take your money decisions.
Poor people let their emotions make their money decisions. Wealthy individuals, on the other hand, use logic to make theirs.
This doesn’t mean wealthy men don’t use their gut. It just indicates they don’t let their emotions decide for them.
You don’t need to be a genius or the hardest working guy on earth to become a loaded dude. But, you need to look at the world through the eyes of a rich individual. Wealthy men let their money work for them. Your job is to buy or build enough passive income vehicles that will allow you to live the life of your dreams. Every time you are going to buy something ask yourself could I invest this money to generate passive income?
Today I have a life of choice and freedom beyond my wildest dreams. And although I’d love to claim I did it all myself, the truth is that there were a few courses I bought which were KEY to getting there.
I’ve bought dozens and dozens of courses, but far and away the best one was “The Money In Your Mind” by self made millionaire Igor-Alexander Ledochowski training program. It absolutely blew my mind – and got me far better results than anything I tried before.