Those who accepted the challenge and prepared a budget, reviewed it, revised it and shaped it, obviously have the will to help themselves.

The rest of you have either achieved financial wellbeing, or you are still living in a state of procrastinatory inactivity.

I know from experience that the majority if you fall into the latter category, so when you are finished talking and deferring action, feel free to catch up.

The path to positive cash flow

When you complete the financial wellbeing budgeting process, you achieve the following:

(a)    You cut unnecessary expenses – i.e. those that are detrimental or have no worthwhile impact on your life

(b)   You reallocate money towards those things that will have a positive impact on your life and make a real difference to you

(c)    You become alert to ways of increasing your income or decreasing tax

(d)   You achieve positive cash flow in your household (i.e. your after tax income is more than your household expenses)

(e)    You acquire the habit of a lifetime – the ability to budget (set your goals financially) and to review regularly

You have finally realise that you can set a budget that will reflect every financial and lifestyle goal that you’ve ever wanted.  The only challenge is to meet the income target to support it; and there are so many ways to make money for you.

Now you are on the start line, in a position to begin the next phase.  But it is not a time to relax.  The path to financial wellbeing requires action and lots of it.  Whilst that doesn’t necessarily equate to hard physical work, it does mean generating the energy to maintain singular focus and sustained effort.

To do that, you will need reserves of energy over time and that means you must be healthy and stay healthy.  Sick and unhealthy people do not have the same focus or the energy to sustain effort.  They are generally focused on taking it easy and recovery.

So isn’t it lucky that you skewed your household budget towards good health and longevity?

For more reading on ways to make money for you on your path to financial wellbeing, visit http://www.aikido-secrets-to-calm-success.com

Until next time!

Gary

The post Financial wellbeing – Moving forward from budgeting first appeared on Gary Weigh.

Income is never fixed – except in your mind!  If you think like that you will quickly reach the glass ceiling that will keep you locked down in poverty forever.

So here is another piece of wealth grower’s thinking:

• Income is never fixed
• There is no upper limit to income
• The only limit on income is the one in your own head

The objection I hear most is:

“I can’t increase my income because I am already working 50 hours a week.”

The answer to this objection is:

“You must start thinking outside the box!”

Do you think for a moment that wealthy people earn a million dollars a year by working 40 hours a week at an hourly rate of $500 per hour?   Of course they don’t!

You have assumed that everyone is like you …. that they are employed by someone else and selling their time.  By doing that, you have already placed a limit on your income because there is a limit to how much time you can sell.

There are only 24 hours in a day and 7 days in a week.  Therefore there is a limit of 8,736 hours in a year.  It might sound like a big limit but it is still a limit – and you have to sleep sometime.

Your budget is your opportunity to at least recognise the need for additional income, and work out how much more you need.  How you actually achieve it is a matter of strategy.

So you can see that budgeting is not only about cutting down and re-prioritising household expenses.  Your first pass budget is your wake up call!

And then when you figure out ways to make a surplus in your household, your budget becomes your blue print to financial wellbeing.

Your goal to earn more income and build wealth starts with your budget. It the simplest financial planning tool of all to make money for you.

Yes it might require some time and tears; and eventually some creative thought; and yes it may well involve a bit of hard work and sacrifice.

But at least I have pointed you in the right direction.  Whether you move forward or not is your choice!

For more reading on ways to make money for you on your path to financial wellbeing, visit http://www.aikido-secrets-to-calm-success.com

Until next time!

Gary

The post Two sides to the budget story! first appeared on Gary Weigh.

In my experience, the majority of people have an unbalanced view of money.  It doesn’t seem to matter whether people have money or don’t have money people have a tendency to focus on money as an end, not a means.  From there, many undesirable money behaviours can ensue!

Focusing on money as and end in itself rather than a means can create a preoccupation with the lack of money.  It can also create a preoccupation with hoarding, spending money and the accumulation of personal debt.

An attitude of concern among younger people is the attitude of ‘I want it too, and I want it now’.  It means that people are increasingly choosing debt over wealth creation because it is the path of least resistance and instant gratification.

Maintaining a narrow focus on the lack of money creates a perception that money itself is somehow the problem.  Money is never the problem.  Attitude towards money is the problem.  To put it simply, it’s your money mindset that is the problem.

Money is simply currency for trade.  It is the societal glue that makes buying and selling easier.  It means we walk around with a wallet or purse instead of a herd of cattle and goats to trade.

The amount of money you have or don’t have is entirely a function of what is going on inside your head.   The solution of abundance and wealth begins in your mind, as does the perception of lack.  Neither is luck nor is it the result of great mysterious forces at work.

If you think about money in terms of how much you don’t have, you are thinking negatively in terms of lack.  If you are thinking negatively about money, you are probably not putting yourself in the responsibility seat to find an abundance and wealth solution.  Wishing and procrastinating is as far as you get.

To be continued next time!

Gary

If you want to read more about ways to make money and the money mindset,

visit http://www.garyweigh.com/recession-riches-and-wealth

The post Ways to make money – get the money mindset right first appeared on Gary Weigh.