Monday, December 22, 2008

The Importance of Money

A great philosopher once said "Money is a barrier against all possible evils." Let's explore and expand on this thought.

Money can prevent the sufferings that come with poverty like cold and hunger. While sickness can not be totally obliterated by money, it can be considerably relieved by it. Giving away money to charity can also provide us with the satisfaction of relieving others from suffering.

With money, we can obtain an advanced education that may aid us in the development of genius and extraordinary achievements. It gives us the leisure to devote a part of our time to culture and art. Money can provide a powerful diversion for all or our troubles by permitting distraction from the anxieties that assail us.

So we must try to get a thorough understanding of all that we may possibly do, in an honorable and legitimate way, to conserve wealth. Even to those who have inherited wealth, idleness can be a certain cause of ruin. A great fortune needs genuine labor for efficient administration. Those who leave this duty to strangers may pay a penalty for their negligence. This is why a rich man, who wants to preserve and increase his fortune, should be his own business manager.

Even artists must know the price that their work is worth. It is necessary for the artist to be a businessman in order to have the right to be a genius. History is full of example of this. The great Shakespeare labored as a theatre manager to obtain the necessary leisure to produce his dramatic masterpieces. Edison worked as a telegraph operator to pay the bills while he "moonlighted" as an inventor.

From the bottom to the top of the ladder, it is necessary to amass money in order to apply it to some great cause. Money is the means by which we may fulfill our purpose in a larger and better way.

Everyone should, in his own way, make an effort to amass some money. Some will apply money to their daily wants. Others seek to swell the fortune that they desire to leave to their children. Some only desire money so they can devote it to some noble enterprise or charity. Finally, a large number see money chiefly as a means of immediate gratification.

Whatever the reason, everyone capable of earning money should learn how to manage it properly in order to ensure that they will have enough of it to apply to the causes that they choose.

Multi Service Net - Building Wealth

Monday, November 17, 2008

How Do You Define Wealth Building?

Many people define wealth building in many different ways. How you define wealth building can have a big impact on your net worth and how you live your life. A few simple distinctions on wealth building can dramatically change your life. For many people just the very thought about wealth building can seem overwhelming and unattainable.

For the average person when they think of wealth building, they focus only on controlling their spending and coming up with a budget. For these people they will never become truly wealthy in their lifetime. If you do have a budget though, you should be congratulated. You are further ahead than 90% of other Americans. But if you truly want to get ahead, you need to do more.

Another way some people go about wealth building is by trying to pay themselves first. The recommended amount is at least 10% of you gross income. Again, most people become overwhelmed by this seemingly high figure of 10%, not knowing that it is okay to start small.

If you aren’t paying yourself first, try to start out by paying yourself at least 3% of your gross income, and then gradually try to work your way up to 10%. Each time you get a raise or a bonus, add that to your savings as well.

Paying yourself first is just another term for saving money. But in order to become truly wealthy you need to increase your income, not just try and save an extra couple of dollars out of your paycheck. So how do we go about trying to increase our income?

Well, there are many ways to increase your income. The easiest way is to simply get a part time job and work more. While working more for someone else will increase your income you need to think bigger and also if you are a typical American you are already working over 50 hours a week.

What you need to do is start working for yourself. You can do this by either starting a business, buying a business, or buying a franchise. No matter how you do it, try to build a system so that once the business is up and running you can be free to do other things.

No matter how you define wealth building it is important to start right now. Time is one of the greatest factors when it comes to wealth building, so use it to your advantage.

Multi Service Net - Building Wealth

Creating Wealth

One of the mysteries of life is how to gain wealth in the short time we have on this earth. For many wealth comes easy. For many more it is a long time coming and for quite a lot more it never comes.

You may wonder if you will ever be wealthy? Let me tell you the answer is a resounding YES, if only you will accept some facts about wealth. Wealth is not as elusive as many would believe.

First you need to recognize that you are already wealthy if you are reading this on your own computer. You are living better than kings of years gone by. Warm homes, hot meals and all of the things we take for granted in a free society make us wealthy.

The problem is we do not consider this as wealth. We take it for granted. Living from paycheck to paycheck and not having the finer things in life tells us we are poor or at least not wealthy.

Wealth starts as a state of mind. You will usually get what you focus on most of the time. Focus on bills and you'll have a hard time paying them. Tell yourself daily how bad you have it and you are focusing on poverty.

Paraphrasing a popular quote, “Whether you think you are poor or you think you are not, you are correct.” Wealth starts in your mind. So focus on the abundance around you now. It does not matter how many bills are piled up, or how bad off you think you might be, there is still abundance around you that is yours for the taking today.

There are opportunities around if you will look for them. If you focus on what you have now and look for opportunities, you may just find some. You are sure more likely to find opportunity if you are looking for it than you are if you are not even paying attention.

Right between your ears is where you will find abundance that leads to financial wealth. Take time to look around you. Is there anything in your current situation that could make you more prosperous than you are today?

One step to becoming wealthy is to let go of old notions of wealth and think prosperity. Interchange those two words and you begin to have a better chance of gaining wealth. Take it one step at a time. Maybe you are already prosperous, but just do not feel wealthy.

Next is to simply begin looking for opportunities that could gain you wealth, prosperity and a new focus in life. You often find what you are looking for.

Financial wealth comes when we apply ideas we have to the simple act of taking action. Action is the key to the beginning of wealth. Take some action today and look around you for things that you could do to increase your income.

Your community may need a service or product you can offer. The internet offers many opportunities from programming to graphics to website development and more. Your home may become a workshop for a new product you develop. You need to start focusing on finding answers.

Look for ways you can make little changes in your daily life that lead toward more success. Could you give up some TV and do some reading on a subject that interests you? Could you buy a course or even find books at the library on a topic that you might earn income from?

This is a short report to get you thinking, not to give you all the answers. If you can take a thought from here and apply it to your life then these words will have done their job.

Seek answers all around you and you may be surprised at the answers you can find; answers that were there all the time. Answers that you already knew, but never focused on long enough to realize their value. Start today and look for answers that will create more wealth in your life.

Multi Service Net - Building Wealth