Archive | April, 2010

Decide What To Save and What To Invest

by Funding Your Wildest Dreams on April 26, 2010 in Finances, Funding Dreams, FYWD Articles, Money

To be wealthy, you want to grow your money as fast as you can.  That means taking most of your savings – money that won’t be needed for awhile – and invest it in ways that make it grow, not just earn interest.  My rule of thumb is the one year mark:  If you’ll use [...]

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If You Don’t Save Money, You’ll Never Be Wealthy

by Funding Your Wildest Dreams on April 23, 2010 in Financial goals, FYWD Articles, Money

Perhaps the greatest discipline of the wealthy is the ability to save money.  My Dad said once, “Carol, every month, save something from your income.” Even if it’s only $10/paycheck at first, do that.  If you spend everything you earn, you never can build savings and investments.  The easiest way to start saving is to [...]

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Be Mindful, Not Mindless, About Your Spending

by Funding Your Wildest Dreams on April 20, 2010 in Finances, Financial goals, FYWD Articles, Money

Wealthy people, for the most part, are not impulse buyers.  They don’t cruise shopping malls browsing to buy here and there.  They don’t go into a book store to buy one book and come out with four.  They aren’t watching TV shopping networks and ordering stuff they don’t need with money they don’t have (i.e.  [...]

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Create A Special Impound Account for Big Expenses

by Funding Your Wildest Dreams on April 17, 2010 in Finances, Financial goals, FYWD Articles, Money

Wealthy people don’t have financial surprises.  They plan ahead for big cash outlays.  Whether it is for a house remodel, a daughter’s wedding next year, a big vacation soon, or just paying your taxes in April, you need to set up a special “Impound Account” to cover big expenses before they are due.  Think of [...]

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Don’t Fight It – You Need to Budget Your Spending

by Funding Your Wildest Dreams on April 14, 2010 in Finances, Financial goals, FYWD Articles, Money

Wealthy people decide what they value, and that’s where they spend their money.  You may spend money unconsciously or at least without any particular game plan.  That’s why having written financial goals is so important.  Now I want you to take the Cash Flow Statement and see what you are valuing with your expenditures.  Do these [...]

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Residual Income – A Requirement for Wealth Building

by Funding Your Wildest Dreams on April 11, 2010 in Finances, Funding Dreams, FYWD Articles

No matter how hard you work, you have only so many hours in the day.  A surgeon making $1,000/hour, still has just 24 hours and cannot work all of them.  If you are trading your time for hourly dollars as your only source of income, you’ll never get wealthy – or it will take you [...]

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Using Your Talents and Interests to Make Money

by Funding Your Wildest Dreams on April 8, 2010 in Financial goals, Funding Dreams, FYWD Articles

Have you taken an inventory of your total list of talents, skills, interests?  Wealthy people utilize what they do best, or love the most, and make money offering these abilities and services to others.  Perhaps you write well and could be a ghost writer on-line via E-lance.  If you’re mechanically handy, you could do “Honey-Do” [...]

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Creating Multiple Streams of Income

by Funding Your Wildest Dreams on April 5, 2010 in Finances, Financial goals, Funding Dreams, FYWD Articles

Wealthy people have more than one way to earn money.  Most have entrepreneurial endeavors that exponentially increase their ability to accumulate wealth.  Even if you have a salaried job, it should not be your only source of current income.  Have you considered joining a network marketing company to build your very own small business income [...]

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Have Systems for Handling Your Money

by Funding Your Wildest Dreams on April 2, 2010 in Financial goals, Money

Wealthy people look at building wealth like a project — an accumulation of actions that need to be managed.  They have systems for handling their money.  You need systems, designed by you, that you will follow through with and revise as your financial situation changes.  These systems include: Tracking your money—income and outgo Reviewing both [...]

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