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Have Some Fun With Your Money

by Funding Your Wildest Dreams on May 9, 2010 in Finances, Financial goals, FYWD Articles, Money

One advantage of being wealthy is that you can spend some of your money on the adventure and fun things you want to do.  I believe you can do this, too, as you are building your wealth.  None of us knows how long we will live, and part of wealth building is creating life experiences [...]

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Know Your Personal Tolerance for Taking Risk

by Funding Your Wildest Dreams on May 3, 2010 in Finances, Financial goals, FYWD Articles

Some of you are risk takers — you can sleep at night knowing your stocks might go down as well as up.  Others would be very unhappy, perhaps lose sleep, if your investment dropped more than 10%.  This is the whole reason to have an investment policy that takes into account how much risk you [...]

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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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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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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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Track Your Income As Well as Your Outgo

by Funding Your Wildest Dreams on March 30, 2010 in Finances, Financial goals, Money

Wealthy people track their sources of income monthly, too. Most of them have multiple income streams – not only from a job, if they have one, but from other endeavors that pay them money, like investments, rents or royalties, receivables from loan repayments made to them, even interest on their checking accounts.  The only way [...]

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Your First Money Habit

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

The most important money habit of all who seek wealth is to have written financial goals.  You’ve probably heard of the famous study of Yale University graduates.  Twenty years after one class graduated a survey showed that the 3 % of those who had written goals at the time of their graduation, two decades later, [...]

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