Becoming Financially Independent:Money Making Formula

Every financial worry you want to banish and financial dream you want to achieve comes from taking tiny steps today that put you on a path toward your goals.
Suze Orman

Financial Freedom:Building wealth through wise investing to improve your financial position so that you are not be dependent on anyone for your financial needs. To achieve it requires planning and having the discipline to do the things that need to be done.

What is the true value of money? The reality is that it contributes very little when compared with personal assets such as good health, peace of mind, a clear conscience, self respect, personal growth and, the acquisition of spiritual happiness.

The importance of money lies in the financial security it provides and its means to a better life.

Financial Independence Means:

*having money work for you

*being in control of your finances

*be free from debt

*have money in the bank

*enjoy your ideal lifestyle

*comfort in retirement

Don't allow yourself to be trapped in a life of disadvantage in a low-paying or dead-end job you do not like.

Why survive from month to month struggling to make ends meet? Why work hard all your life only to "retire" poor? Time, money and effort spent on pursuing your goals in life are an investment you make on yourself and your future.

Education:Having the right knowledge, gives you the confidence to make decisions based on what is right for you, help you to avoid mistakes and gain new ideas.

Education through constant learning is one of the most profitable forms of investment for the future because a major portion of life goes towards earning a living and, to securing your financial independence.

Demand for professional, skilled and creative people has increased while the demand for the unskilled has decreased. Wise career decisions will help you build the life you want with a job that is fulfilling, rewarding and, well suited to you.

One does not have to spend his or her life in work they do not like. There is a choice. There are colleges, institutes of further education, universities, online courses, correspondence schools and workshops offering a broad range of full-time and part-time-courses. The important thing is that you must want to learn

Develop a passion for learning. If you do, you will never cease to grow.
Anthony J. D'Angelo.

All successful people men and women are big dreamers. They imagine what their future could be, ideal in every respect, and then they work every day toward their distant vision, that goal or purpose.
Brian Tracy

Dreams And Goals:They are a vision of your ideal future of what you want to be, what you would like to do and, what you would like to achieve. They can inspire us to take advantage of opportunities, reach your potential and, to seek self-fulfillment. They add purpose to life, offer new experiences and are the start from which dreams become a reality!

The Power Within:Its the inner urges which inspire us to plan and to pursue our goals and to deal with setbacks and problems that may cross our path.

Power Of Imagination:A vivid vision of your ideal future, regardless of where you are now, opens your eyes to your goals and their end result to guide the direction and the choices you make.

The Cost Of Success

Where do you see yourself one year from now? Where do you want to be in life in the next 5, 10 or 15 years?

Wishing will not get you there if you’re not willing to back it up with effort.

Goals, plans and action sets you on the path to achievement:

*your goals must be realistic

*they must be classified into priority levels

*planning gives an idea of the resources needed

*your decisions must be based on relevant facts

*self management helps to get things done

*motivation to achieve moves you to action

*perseverance provides the will to endure

*regular reviewing lets you know how well you are going

Overcoming Fears:A goal may seem overwhelming or complicated that you hesitate to begin that can have an impact on your ability to take the next step. Doing just one thing at a time can break through the inertia.

Each small gain will bring you closer to your goal.

A journey of a thousand miles must begin with a single step.
Lao Tzu

As long as you’re going to be thinking anyway, think big.
Donald Trump

Create Cashflow and Equity:

*live within your means

*stay away from useless credit

*develop a written financial plan

*save a portion of your money

*invest that money to create assets and equity

Financial Goals

Financial goals can be classified as Short Term, Mid Term and Long Term. They are your guide to where you want to be and what you need to do to achieve financial independence. Assess your current financial situation then, develop a plan based on realistic goals for making and managing money, minimizing liabilities and building assets.

Use the professional services offered by accountants, financial planners, the banks, and others who have proper credentials and good track records to guide you.

Self Education:Learn the fundamentals of wealth building, wise money management, entrepreneurship and taxation.

Research on the internet, attend seminars and workshops, read books and magazines, join business associations and network with other skilled people to learn their secrets of success to gain new insights and to give you confidence.

Set Short-Term Goals:A series of small, short-term goals could be trying to pay off debt, save money for your first home or to advance in your career through investing in knowledge. Achieving short-term goals will ensure that you reach your longer-term goals.

Create Long-Term Goals:Outline how you need to achieve long term goals to help you stay focused in that direction.

Planning start with:

*identifying goals

*gathering relevant information

*identifying obstacles and problems

*examining alternative courses of action

*identifying priorities and targets

*setting a time frame

*giving the necessary time for their achievement

Causes Of Failure

*unrealistic or lack of specific goals.

*bad financial decisions

*too much reliance on luck or wishful thinking

*inability to break out of bad habits or not willing to try new ways.

*poor planning and organization.

*insufficient knowledge or skills.

Is your income enough? It is impossible to get ahead on a low income that is never enough to make ends meet. You need money to invest and to create assets.

Extra Income:An extra $500-$1000 each month for example, can have an immediate impact on improving your lifestyle.

You have dreams, hopes and goals. You have life-promoting opportunities through your hobbies, skills or knowledge that can be turned into a home-based, freelance or online business.

The benefits include combining your own interests to reap financial rewards. They are the easiest and lowest cost ways to start working for yourself while continuing in your present job and to diversify your income.

Home Based Opportunities

A successful home-based business can be an income-producing asset:It can provide the opportunity of earning as much money (or more) than your present employment pays.

Home-based business opportunities require little investment, allow you to start part-time and provide the ability to build multiple income streams that will help you reach your financial goals faster.

You supply the desire, the persistence and the management.

Consider The Benefits:

*supplement existing income while keeping a full-time job

*quit a dead-end job

*new income streams improve your lifestyle

*pay off outstanding debts

*build savings for future investment opportunities

*be your own boss

It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure that you haven’t lost the things that money can’t buy.
George Lorimer

Online Business Opportunities:A website can be an income-producing asset that will help you reach your financial goals. It enables an individual to deal with the word's largest and most dynamic marketplace all year round.

Low Start-Up Costs:It provides the most cost effective way to sell and promote products, services and information using a variety of marketing strategies to a targeted niche market and ongoing income with minimal effort.

Virtually anything you know or have an interest in can be turned into money:Think about what fills you with passion to create your own website about a favorite topic that will provide you the satisfaction of doing something you enjoy without gambling your future security.

Every Web Site Page Can Make You Money:

*flexibility to work to your schedule

*generate income even when you’re not working at it

*requires only minimal investment.

*capable of becoming your main source of income

Information Website:You don't need a product or service to sell. Your product is the information you write and share with your reader.

You might be fascinated about travel, gardening, cooking, photography, knitting or health and well-being. Your knowledge or your skill about something can become a topic that you can write about and be created into an information website.

Affiliate Programs:Related to your topic and linked to your website will pay you a certain percentage for every sale that comes as a result of your site's referral.

There is no product creation and, you don't need to collect payment. Everything is done by the merchant. All you need to do is to focus on promoting and driving traffic to your affiliate links. ClickBank and Amazon Associates are just a couple of the many excellent affiliate programs you can join.

Google Adsense:Provides website owner's an opportunity to earn income displaying relevant Google ads. Google will pay the website owner a share of the revenue they earn every time a visitor clicks on an ad. How much money you earn from AdSense will depend on the subject or niche your website covers. The more traffic you get, ultimately, the more money you will make.

Drop Shipping:Sell one or a variety of products, services or information to customers in any niche market worldwide through your website or eBay leveraging other people's capital and without having to store, handle, or ship merchandise to your customers. You focus your attention on marketing, promotion and customer service.

You promote then pass orders and shipping details to the merchant who will in turn, ship the product directly to your customer using your company information on the product’s packaging and invoice while providing their own address for product returns.

Start An E-Bay Business:Another affordable way of going into business working from the comfort of your own home and give you instant cash flow.

Entrepreneur:To become an entrepreneur begins with a clear vision of an opportunity and getting that idea to the marketplace. The successful entrepreneur is an innovator who is able to see the big picture then, turn it into a profitable reality. By listening to the market and catering to its needs and wants generates sales. Sales make the business survive and, its owner money.

Home Import Business:There are manufacturers, factories and cottage industries around the world where you can buy from the original source and to find low-cost, high-quality and unique product sources.

Start Part-Time:For someone with little experience, keeping your present job and income is best as you develop your home import business.

It provides low overheads and initial low start-up costs, without employees or a warehouse that requires a long-term lease.

Start With One Product And Buy In Small Quantities:Test it in the marketplace first then, buy in big quantities later and expand to other related products. It may even provide the opportunity of gaining exclusive rights to a product and the possibility of ongoing residual income for years.

Mail order, direct marketing, party plan, and sub-wholesaling can be used in combination to create multiple income streams. Imported products can also be sold through eBay or your own website.

There are many places you can go for advice and information. These include Chamber's of Commerce including local as well as overseas, the Small Business Bureau, Foreign Trade Commissioners, the Customs Department, Customs Broker's, the international department of your bank and insurance broker's.

Other product sources include trade publications, catalogs from foreign as well as local suppliers, embassies and consulates, trade shows, gift shows and manufacturers.

Creating E-Books:For the aspiring writer, creating e-books is an avenue to an e-publishing business. Start-up costs and overheads are low and you don't have any money tied up in stock. your product is delivered instantly to your customer as a download and you earn passive or recurring income seven days a week, all year round leveraging the huge Amazon.com global marketplace.

Your time is your main investment in developing your product. After that it works for you. Pride and satisfaction as you build your brand and your expert status comes with seeing your work on Amazon.com.

Network Marketing:People from all walks of life have been able to build home-based businesses that generate unlimited earning potential. When you recruit people into your down-line to buy and sell products you and your recruits get paid on the amount of sales made. However, when these people in your down-line recruit others who duplicate the system you begin to generate recurring income over and over again that can lead to financial success.

Cash flow represents earnings that keeps you or your business going. You need to have enough cash to cover your day-to-day expenses and money that can be put towards savings to help you grow financially.

Your goal is to convert your money into assets that will grow in the future.

Pay Yourself First:Always pay yourself first between 10% and 20% of your weekly or monthly disposable income before you pay any other bills to establish a regular savings program.

You will be surprised how easy money is to borrow and the sooner you will be able to begin investing.

The Miracle Of Compound Interest:Saving money on a regular basis helps you reach financial goals. It involves a present sacrifice to get an expected future benefit using the miracle of compounding to make your money multiply through having the interest from your savings earn you still more interest.

Investing Wisely

*borrow money only for investing

*seek long-term wealth through a regular cash generating asset

*never borrow to finance a lifestyle using credit

*don't invest blindly or jump into "get-rich-quick schemes

*read all documents including all the fine print before signing anything

*always get advice from registered and experienced finance experts.

Research Your Preferred Investment Goals:

*is the investment suitable for you?

*is it the right time to invest?

*how much can you safely afford to invest?

*what are the benefits and risks?

*will the investment provide a reasonable return for the money outlayed?

Consider The Following Factors:

*Your assets and liabilities

*the current economy

*current interest rates and costs

*understand the benefits and consequences

*investigate all sources

*deal only with well established firms and qualified people

*never be late in repaying loans

*get a good accountant to legally minimize your tax bill.

It is time for us to stand and cheer for the doer, the achiever, the one who recognizes the challenge and does something about it.
Vince Lombardi

You need to create assets based on safety and realistic goals since many investments have varying levels of risks and returns. Know how much money to invest, when to invest, what to invest in and how to invest.

Income-producing properties which can be rented have the potential for creating wealth, build financial security, give you capital gain, a weekly return and keep up with inflation. They include land, housing, units, commercial buildings and, buying, developing and selling property.

Creating Equity

Equity builds wealth through real estate investing and is acquired by purchasing a home or reducing the debt on existing an existing one. It is the difference between what your property is worth and what you owe. You can borrow against your equity to buy another property build and to repeat that process over time to become a property millionaire.

Buying Your First Home

Owning is better than renting. Owning more than one home sets you up for life. To create wealth you need money-making assets that have capital growth and provide income through rent so, buying your first home is very important to give you personal security, tax advantages and build equity over time that you will use later to borrow and buy your first investment property.

*when buying property location is very important

*look for a property's potential for long-term growth

*investment property should be self-supporting to cover loan repayments

*understand the different types of finance available

*use finance sensibly

*get a good accountant to legally minimize your tax bill

*real estate investing needs time and patience in the beginning

*understand that the property market moves in boom and bust cycles

*don't invest blindly

*don't jump into "get-rich" quick schemes

Properties To Avoid

*cracks in walls, especially those hidden by wallpaper

*bad workmanship, foundation, brickwork, roof, tiling woodwork, etc

*structural problems that may be beyond repair

*a property that is too good for an area

Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.
Dale Carnegie

Debt limits your income, your potential to save and to maintain a positive cash flow.

Every financial worry you want to banish and financial dream you want to achieve comes from taking tiny steps today that put you on a path toward your goals.
Suze Orman

Spending more than you earn or living on credit cards and loans won't make you financially independent. Wise money management will enable you to live within your means, reduce debt and, put you in control of your personal finances.

Increase Your Income:Look at the possibilities to help you solve your money problems.

Know what your financial responsibilities are then develop a personal money management program to release your income to better use by:

*controlling expenses

*enabling you to live within your means

Credit Cards:A credit card can be a major liability. Those people who have more than one credit card can quickly find themselves in a vicious cycle of accumulating more debt and eventually making it difficult to make ends meet.

Making only the minimum payment due each month will only make it difficult to get out of debt because you won't be able to reduce your outstanding balance because the minimum payment includes mostly interest.

If you have debt that has gone out of control a credit counseling service can help you create a debt elimination program through a realistic budget that has repayment plans that you should stick to. Then, when you pay off a credit card, close the account.

Look to yourself to achieve the things you truly want.

Take the initiative and back it up with continued effort and a positive attitude to endure the trials and sacrifices necessary for the achievement of your goals.

Have your calendar and diary at hand writing daily, all the things you want to get done. Identify the important steps and the actions needed and, always stick to deadlines.

Review your progress periodically to assess your performance and remember, every small step you reach will give you the feeling of accomplishment.

Believe you can and you’re halfway there.
Theodore Roosevelt