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November 21, 2007

Spending to Saving: Making the Change

Posted in: Budgeting

To really obtain wealth and/or financial freedom, there must be a change in our mindset. From our youth in America, we are taught to spend, spend, spend and pay for it later. The concept of having it all — right now is what most everyone wants in this country. Unfortunately, unless you have an 80″ vertical and can dunk a basketball, it will take time, patience and careful investing to unmask any substantial wealth. But I am just going to take a moment and give you a few pointers on how you can gear up for improving your financial health:

  1. Ignore Advertisements
    TV is one of the worst things you can do to yourself. It is totally commercialized these days and offers nothing wholesome, only product pushing programs. TV is at the heart of our debt-ridden society. If you can bear it, get rid of it. In my house, we don’t even have cable, so if we want to watch something, it is a movie that we have pre-selected on DVD.
  2. Track Your Goals
    It may not sound like it will help, but if you have a written budget, and written income goals it will help you to focus for the future. Take a few minutes to write down all of your expenses and come up with some reasonable income goals (challenge yourself, don’t just put down what you are currently making).
  3. Seek Out Help from People Who Have Done What You Want to Do
    There’s nothing like having someone near you that has been where you want to go. Start out with blogs like this one, and find professionals that are in a market that you want to participate in. Don’t try to think of something everyone needs but doesn’t have, as you will never get anywhere that way. There is nothing new under the sun. I like real estate, and have had some success in both. If you want to get into those markets, I can help. Sign up for my RSS feed (it’s free) and begin learning about real estate investing and property management.

If you have any questions or comments, please feel free to leave them at the bottom of this page. Stay tuned for more great insight to treating your financial health…

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