Managing Money

3- Day workshop Millionaire Mind Intensive 4

Paying Credit Cards:

Designate your expenses by account type and pay your credit card from each separate account with separate checks or separate transfers.

Managing Money for Business Owners:

Write yourself a consistent paycheck twice a month.

Managing Money for Couples:

If you pool your money, make sure you designate a specific amount that each partner will take as individual money, prior to splitting the money into your combined accounts.

The amount each partner takes must be equal.

Managing Money for Children:

The secret is getting kinds into the habit of managing their money.

Kids learn best by modeling.

For young children, split their allowance and gifts into FFA, LISS, EDUC, PLAY and GIVE.

For teens, split their allowance and earnings into the accounts above and also include NEC.

Managing Money for Everyone:

It’s not, “when I have plenty of money, I’ll begin to manage it.” It’s, “when I begin to manage it, I’ll have plenty of money.”

The Universal Principle of Management: Until you show you can handle what you’ve got, you won’t get any more.

The habit of managing my money is more important than the amount.

WEALTH RULE #1:

Pay Yourself (your FFA) first.

Broke people use the “left over” strategy: they pay everyone else first, then save or invest what’s left over.

The Law of Attraction:

Like attracts like; money attracts money.

The FFA acts like a money magnet!

The Primary Reason to Work

Financially speaking, broke people believe the primary reason to work is to earn money to pay for their current lifestyle.

Rich people believe the primary reason to work is to earn money to invest and to create passive income structures so they can win the money game and become financially free.

“ If you will do what most people won’t do for the next few years, then  you can do what most people can’t do for the rest of your life.” --- Wade Cook