Are you ready to get on track to Health, Wealth and Well-being and access your abundance? The first step is to understand that there are three basic ways to make money: you can trade your time for money (it's called a job), invest your money, or leverage yourself (build a business). If prosperity is what you are after, here are 25 tips to get you started.
1. Understand What Money Is - There is no magic to money. Money is just another form of energy. There is an abundance of money and it can be created out of your speaking.
2. Know What You Want - Be clear about what you want. Money is just a means to getting what you want. The clearer you are about what you want, the greater the likelihood of it showing up in your life. Be sure that what you want also serves to provide value to others.
3. Speak Your Success - Continue to speak what you want in positive terms. Use affirmations to help manifest the things you want in your life.
4. Stop Procrastinating - Procrastination is the number one reason people fail and time is your greatest ally or your worst foe. Get into action toward creating what it is you want by taking one step each day.
5. Have A Plan - Know what steps are needed to reach your goals and what you need to do each day to have it happen.
6. Get Help - You don't need to go it alone. Get help from a professional. When looking for advice be sure to look for someone with professional designations such as a Certified Financial Planner, CPA, Attorney etc.
7. Save a Little From Everything You Earn - If you start early and you save a little from everything you earn, you will take advantage of the power of both time and compounding to reach your goals. It takes less money to reach your goal if you have time on your side.
8. Build a Cash Reserve - You should have 3 months of living expenses in a cash reserve position. This will help you avoid keeping credit card debt that will drain your resources and slow you in reaching your goals. Your cash reserve is the place you go to meet emergencies.
9. Take the Free Money - If you have access to a company matching plan such as a 401(k) plan, be sure to save at least up to the point where you get all of the matching money. If someone is willing give you 3- 6% of your salary just for saving money, take it.
10. Understand How Money Works - There are many ways to have your money work for you. You should talk with professionals, read, and research all the ways you can have your money work for you. Look for ways to create tax-free income whenever possible.
11. Don't Get Greedy - Be willing to take small profits many times rather than trying to make the one big kill that will make you rich. It is true that those who get greedy rarely succeed.
12. Use Professionals - Investing successfully is a complicated game. There is no way you can get all the information you need to be successful and getting this information takes time away from the other things that are important in your life, so letting professionals manage your money may make sense. If they have the resources and the expertise it could pay to let them advise you on your decisions. It is your money, however, so you should monitor their level of success and don't be afraid to move your money if the investments don't perform to your satisfaction.
13. Dollar Cost Average - We know that we can buy things at different prices at different times. As the economy grows and contracts the prices of things go up and down. By investing the same amount of money at regular intervals, your average cost can be less than if you invested all of your money at one time.
14. Diversify - Don't invest in too much of any one thing. If you are investing in stocks, own more than just a few. Even better, invest in different types of things: stocks, bonds, real estate, gold, collectables, etc.
15. Invest In Yourself - You can always learn more. Take the time to invest in books, tapes, and classes that will give you new information and new ideas about what to do and how to do it. Never stop learning and never stop asking questions.
16. Build Multiple Streams of Income - Don't rely on just one source of income. Look for ways to build income streams by investing in things that produce ongoing income, starting a business, writing a book, or leveraging your knowledge on the Internet.
17. Pay Off Credit Cards - By keeping balances on your credit cards you are robbing part of your saving ability. Pay off balances every month so your money can be working for you in a positive way. Remember, a dollar lost doesn't just cost you that dollar, it also costs you what that dollar could earn if you still had it. We call this opportunity cost
18. Know the Risks - Before you invest in anything, know what the risks are. If the promised rewards are high, realize that the risks will be high as well. Only risk the money you are willing to lose and remember Tip #11, don't get greedy.
19. Teach Your Kids - Good money management starts at a young age. Let your children know what you are doing and teach them how to manage their own money. Help them to see that saving a little out of everything they make can add up to future wealth.
20. Love What You Do and Do What You Love - You will be more successful and happy in life if you are doing what you love. It may not seem possible right now if you are in a job you don't like, but you can start by looking for ways to turn your hobby or your dreams into sources of income. Eventually they may become your main source of income and satisfaction.
21. Buy Low and Sell High - Look for bargains in the things you invest in and don't be afraid to sell something that has lost value. Hanging onto an investment that has lost value because you hope it will come back up may keep you from investing in something else that may gain value much more quickly.
22. Don't Be Afraid To Share - As you give of your time and money you will find that your prosperity will be increased. Don't be afraid to give money away to causes and organizations you believe in. As you share what you have, the universe will continue to provide more of what you want.
23. Protect What You Have - As you build your net worth make sure that you put the proper insurance in place to protect what you have worked hard for, and don't forget to protect the largest asset you will ever have - your ability to make a living. Life and disability insurance are ways to leave the legacy you would have left, if you had had the time to earn it.
24. Use the Tax Laws - Take advantage of the tax laws. One of the best ways to utilize the tax laws is to start your own business from home. Be sure to consult a qualified tax expert to be sure you are getting everything to which you are entitled.
25. Plan for When You Are Gone - Managing your money doesn't have to end when you die and you shouldn't let it. By doing proper estate planning you can be assured that your family will be properly cared for and that the plans you put in place will live on.