It is never about a recession, it's always about the lessons we learn from it. How has your perspective changed due to a recession or some other economic scenario? It is always too easy to ascribe blame to "the economy", when what really needs to happen is that we need to step up to the plate and own up to our responsibility. Will your current attitudes and behaviors toward money help you reach your financial destination? What are you doing to make a positive difference in your financial future and that of your children, if you have them?
Unquestionably, there are seven disciplines you must apply in your current situation to achieve debt-freedom and financial independence, that is, if you really want it badly enough.
1. Generate passive savings.
2. Become an expert of locating resources that you don't have to pay for.
3. Eradicate excess.
4. Collaborate with others.
5. Originate cooperative living and/or shopping arrangements.
6. Eliminate the "middle man".
7. Investigate your personal fundraising option. (Find out if you are eligible for the Personal Fundraising Wealth Building plan. Information about how to get your Free Proposal is provided at the end of this article.)
To accomplish your financial goals, you will have to take responsibility for the financial destiny of your family if you expect to maximize your current and future financial aspirations; whether just paying bills or whether you have your sights set on being debt-free and financially independent.
To generate a consistent, yet passive savings, all you would have to do is find and shop in local or online stores that give you something back each time you shop with them. It could be an instant rebate, additional points in your loyalty account, or a contribution to a college savings account with each purpose. Passive savings is just what the name implies, it is passive. You may have to think about it on the front end, but ultimately, it should be there in the background working quietly for you.
Become an expert of locating resources that you don't have to pay for. Oftentimes, we believe that if we don't pay for something it really is not worth anything. It's essential that we value everything that comes into our hands whether we pay for it or not. Be a good steward of your resources and think free first, then work from there. For example: take a family field trip and go to the library instead of spending your money in a bookstore. You can spend quality family time and borrow books free. Invaluable.. Get it?
By eradicating excess, we can all stop hoarding and start sharing. Many of us have at least 2 to 3 times the food, clothing, household goods, and other items that we need to survive, yet there are still an unbelievable number of homeless, hungry people (including children). Whether it is clothes or shoes or foods or something else, we must realize that the key to our personal abundance is learning how to share with others
Devise living and shopping arrangements that are cooperative in nature. We need to think more about how to leverage resources especially in tough times. Could you share a vehicle and therefore, a car payment? Think about it, you'll be surprised at what options you might come up with.
Eliminate the "middle man" by buying from yourself. Retailers buy products wholesale and resell to you for a profit. You never see a dime of that profit and in the process you've overpaid for whatever it was you bought in the first place. Buy the personal care items and household goods that you are going to buy anyway, but do it wholesale. Stop lining the pockets of the retailers and line your own.
Personal fundraising is a emerging concept. It involves looking at other models for you to realize your financial dreams without borrowing money and going into any more debt. Personal fundraising is a model that provides you with a detailed plan for raising funds for paying bills, saving for or paying tuition for your child's college education, financing a wedding, paying down your mortgage, and so on. Not everyone qualifies for personal fundraising, but most everyone is eligible for a free personal fundraising proposal. Instructions on how to get your Free Proposal are provided below.
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