Take Control Of Your Financial Future

My 24 year-old daughter does not drive and I see her constantly depend on others for a ride. She gets pretty sick and tired of depending on others, being late because of others and not being able to go wherever she wants to without it costing her a fortune in taxi fare. However, I guess she is not sick and tired enough yet because she still does not have her driver’s license.

I tell you all this because I want to ask you this:

Who is driving your Financial Car? By putting your financial life in the hands of others do you think you will ever get rich? Do you think they can care about your wealth as much as you could?

Just over two years ago I decided to get my financial drivers license. And all that means is that I started to read and study everything I could on money. I started with just 15 minutes a day and I have to tell you I was bored silly. But soon I got up to 20 minutes a day and then 25 and then 35. Within about 6 months I was spending 2 to 4 hours a day reading every financial website I could find. I bought magazines like Money Sense, Inc, Forbes and Fortune to name just a few and I would read them while waiting in the car while my wife went into Wal-Mart. Or I would read while taking the transit to an appointment.

Everyday, my affirmations were, “I am a Financial Genius” – “I am a Financial Guru” – “Everything I touch Financially Turns To Gold”. These words increased my appetite for financial information and I voraciously fed on all the free education available on the Internet. These words became a self-fulfilling prophecy as everything I seemed to touch turned to gold.

As 2006 comes to a close I hope that with it comes an end to financial mediocrity if that is where you are at.

In 2007 take control of your financial life by making financial information and education a cornerstone of your life. And you can start right here. If you have not done so already subscribe to this Blog. You can do that by entering your email in the space provided towards the upper right side of this Blog.

2007 can be your best year ever financially if you take charge. You don’t have to do it alone but you do have to Make A Decision to DO IT!

Treat Your Money Like Seed

Not sure if you know this or not but after the harvest a farmer does not sell ALL his grain. He keeps some of it in the barn to plant next year’s crop. Then when the spring comes he does NOT plant ALL his seed. Can you imagine why that is?

If the hail comes and wipes out his crop the farmer has the ability to plant a new crop and still reap a harvest.

So what does all this have to do with you and more importantly money?

When you go to work, on pay day you reap the harvest you have been working for the past week or couple of weeks. What do you do with that harvest? How much of it ends up in the barn – a savings account or as I like calling it, A Financial Freedom Account?

If you are like most North Americans you spend it all.

If you do put a little away into a savings account – then how much do you actually invest? Many people who leave money sitting in savings accounts think they are investing. At 2% to 4% inflation, taxes and cost of living are eating away more than you are making.

Here’s some advice I got from some Millionaire Mentors of mine that I have acted upon to create wealth. Do what the farmers do! Take half of the money you saved and invest it in something. In stocks, foreign currency and yes even in some high risk investments because high risk usually means high returns. But always make sure that at least half your savings are tucked away safely, even if it is at low interest. The purpose of that money is not to make you money but rather for it to be safe so that if something terrible happens to your investments you can recover.

Now if you do not have a clue what to invest in then you definitely need to check out my next post. But rather than just checking back, why don’t you enter your email into the subscription box to the upper right. That way whenever I post and that is not that often, you will be notified.