SIMPLE STEPS TO GREAT WEALTH

There is nothing that can not be learnt including wealth. It is just a matter of  learning the principles involved and apply them to create your own situation. What l learnt is that anybody who is serious enough to apply the principles used by wealthy individuals will obtain the same results. So why not sit back and sift through these steps distilled from some informed millionaires. I  believe that if you follow them, you too can take control of your financial situation. You can start to work out your financial freedom from whatever level you are now. Below the steps:

CREATE THE MINDSET OF ABUNDANCE

                The starting point is to believe that God wants you to be wealthy. Nobody is created to be poor. As a matter of fact, you are not glorifying God if you are poor. So you have to create that mindset of abundance. That is a fundamental requirement. What I do is to read a pledge to myself day affirming that I am wealthy, I am rich, I am created to be a glory to God and not to be a disappointment. You have to  create your affirmative pledge. Memorise it, very soon it will be a part of you until you become unstoppable.

KNOW THE STATE OF YOUR FINANCIAL HEALTH.

                If you are sick and you want the ailment treated correctly, the first step is to get your doctor to conduct a test to determine what is wrong before giving you drugs. Doing it otherwise won’t bring good result. For instance, I don’t expect a sick person to just work into a hospital and tell the doctor, “just give me any drug” The same thing should apply if you want your financial crisis sorted out. Get to know what is wrong with you first before trying to fix the situation. But unfortunately, that is not what most of us do when we face difficult financial situation. We want a quick fix and want the crisis sorted out anyhow, by all means. This approach hardly produces any lasting remedy.

PREPARE YOUR PERSONAL FINANCIAL STATEMENT

                Having your personal financial statement written out enables you to discover very quickly what you can’t detect where you to have it being carried about in your head. There are three sets of documents you have to get familiar with if  you intend to prepare a sound personal financial statement. Personal Balance Sheet: this is simply a snapshot of what you own (asset) and enable you to determine how much you are worth after balancing you asset and liabilities. Personal Income Statement: This simply shows how much you gain or lose in the process of carrying out your personal financial transactions. It gauges total income adjusted for the money you spent in generating the income.

DETERMINE YOUR ACTUAL MONTHLY EXPENSES AND INCOME FOR THE PAST TWELVE MONTHS

                This is one of the most tasking and obviously the most important aspects of this assignment. It is the foundation plan rests. It is therefore important that this aspect be accorded the necessary time and attention. This step is to enable you establish your spending pattern so that you can prepare a realistic financial plan.

TAKE FULL CONTROL OF YOUR FINANCES NOW.

                Now let me ask you, which one is easier? To struggle to generate more income or to master how to control the money that is already in your hand? Research has shown that it is easier to build wealth by controlling what you already have then by looking for additional revenue. We all have enough but we all claim we don’t. Try, for instance, to collate how much money has passed through your hand in the past two years, you will be amazed at God’s level of financial blessing in your life. But how would you know this if you don’t keep a daily journal of what flows in and out of your pocket? Wealthy people track this daily. They can account for every penny that passes through hands daily. It is therefore important that you know how to go about this.

DETERMINE YOUR MONEY ROUTE.

                We can all not make money in the same way and from the same route. The most important things is to determine where your passion lies and try to master the rules for making money in that area. You can make your money by investing in stocks or real estate. You can also build great wealth by building and owning your own business. Some make their money from the internet. The most important thing is for you to know the route you are familiar with, learn the system and follow that system to the letter. Don’t be attracted by the system your friend is using to make money.

So putting it together I believe that if you apply the steps, you are on your way to financial freedom. Nothing and nobody can stop you.