Increasing Individual Wealth With Simple Plans

Individual wealth building strategies have never been the results of accidental occurrences but rather through well planned and properly executed ideologies. Increasing ones personal wealth always begins with a plan in mind, and the simpler the plan is, the better your chances will be of following through and making it happen. 

There are too many people who started out motivated to make a change in their financial life and have a super ambitious and overly complicated plan. The problem with this kind of approach is that when things start to get a little hectic (and in life, they do), a complicated plan is just too hard to stick with. 

So, why not create a simple plan for gaining control of your personal financial life and start increasing wealth with these pointers towards achieving financial freedom.
 
Financial Wealth Begins With Managing What You Have
 
One of the utmost step towards wealth building is to keep it simple. That initial step is gaining control of your current cashflow by managing what you already have. If you aren't managing what you already have well, increasing financial wealth or cashflow won't help you. You are going to find a way to get rid of the money that you have, no matter how much of it you have coming in. So get started now by taking control of your spending using the simple "four portion personal finance system."
 
Using the four portion approach, you dissect your spending into the following four categories: 70% into expenses, 10% into giving, 10% into investing, and 10% into cash reserves. Then you allocate your earnings into each of these categories, starting with cash reserves (for emergencies), then investing, and then giving. Pay your expenses last, with the remaining 70%. Believe me, you DO have enough money to do this, it's simply a matter of disciplining yourself and giving yourself a chance to move forward.
 
Using Simple Investing Plan to Increase Wealth
 
Many people don't succeed or ever get started with investing because they over-complicate things. However, the most effective investing strategies are always the simplest method. Choose an investing strategy: property, stocks or mutual funds and stick with it until you are really good at it. It does you no good to dabble in all three or more, until you've achieved proficiency with one. However, if you have master and are really good at one type of investment, you'll build the confidence and the momentum that you need to adopt another.
 
Finally, reward yourself for being consistent in sticking with your financial wealth building plan. Many of us are good at being hard on ourselves when we mess up, but we stink at awarding ourselves. Set some landmarks, for e.g. one month into your plan, six months, one year etc. and make it a habit to reward yourself for sticking with your financial wealth building plan. 

Most important of all, enjoy the process.

Quotes for the day:

"Great things are not something accidental, but must certainly be willed."
*-- Vincent van Gogh 

"Nothing is really work unless you would rather be doing something else."
*-- James Matthew Barrie 

"One person with a belief is equal to a force of ninety-nine who have only interests."
*-- John Stuart Mill 

Articles about being Wealth Conscious:

  • Programming The Mind Towards A Million

  • There can be many ways for you to become a tree producing a million dollars. The focus point is to start working with the roots. Your roots need rejuvenating.  The initial step is to figure out where you are standing.......
     
  • The Key To Attracting Wealth

  • All of us at some point of time or the other have dreamt having a million dollar saving account and enjoying the luxuries of life. Many of us think that to become cash rich, there is a shortcut route. In reality, attracting.......
     
  • Tried And Tested Methods Of Creating Wealth

  • Generating wealth need not be an endless struggle. Very often the thought of how to increase our wealth leaves us depressed because we feel that we cannot do it.  Many employees who want to free themselves.......
    Get a Free Daily Email Quotes

    << Home>> ==> Wealth Consciousness
     

    All the site contents are Copyright © www.motivationstuff.com and the content authors. All rights reserved.
    Every effort is made to ensure the content integrity.  Information used on this site is at your own risk.
    All product names are trademarks of their respective companies.
    The site www.motivationstuff.com is in no way affiliated with or endorsed by any company listed at this site.
    Any unauthorised copying or mirroring is prohibited.