Millionaire
Wealth Building – Reduce Debt And Sustain Your Wealth
by Terry Vermeylen
I’m fortunate to have an excellent
financial planner who in turn works with an excellent team of financial
specialists. These specialists scrutinize all aspects of finance
including taxes, insurance, saving and budgeting. They have a wide
range of clients, from the average Joe to multi-millionaires. Knowing
whether I am spending more than I earn is probably the simplest and
best advice he has ever given me. Here is that strategy plus a few
others for reducing debt and living a life with less stress and more
freedom.
Are you spending more than you earn?
Isn’t it incredibly easy to have money
“mysteriously float away” each month on purchases you simply “forgot”?
We know we have monthly bills, but a person’s got to live, eh? Are you
scared to add up those credit card purchases each month? And then
months become years, and the money continues to “float away.” If you
really think about it, keeping track of your money is easy. All it
takes is paper and pencil. One column for debts and one column for
income; add them up each month, subtract the difference and see if you
spend more than you earn. Once you clearly see your spending habits on
paper, you can no longer hide from them. This by far the most single
most important step towards debt reduction and wealth creation. Being
completely honest with yourself is the first crucial step towards
incorporating positive financial change in your life. Are you spending
more than you earn? Credit cards got a hold on you?
Understand how emotional
intelligence and your values can rid you of crazy monkey brain.
How many times have you innocently
walked into a store and found a million reasons why it’s okay to
purchase something? This is the last time I will buy this. My credit
card balance is low; it’s okay. I love it and it’s on sale! I’m not
doing this for me, I’m doing it for them. Hey, I have some extra cash!
We all have these emotions and thoughts coursing through our heads at
some time. Real millionaires with solid finances realize that spending
money on stuff doesn’t buy lasting happiness. In the short term, it’s
pleasurable but financially disastrous. So the next time you have the
spending bug, take a moment to simply appreciate everything you do
have. Appreciation is a powerful emotion and a fantastic core value.
Appreciating your family, friends, health, nature and the simple
pleasures in life will make you realize that spending won’t buy
happiness. Use your emotional intelligence. Make appreciation a core
value. Real millionaires respect the dollar but place appreciation,
gratitude, family and friends before all else. You most likely don’t
need to buy it.
Hold on to your own reality. Don’t
give in to the advertisers.
In this information age we are
continuously assaulted with advertising images trying to convince us to
buy, buy and buy. Bigger, better and faster. We will look more
successful. We see celebrities using their names to sell almost
anything. Tiger Woods drapes himself in Nike from head to foot because
Nike is trying to convince us that it is a groovy and respectful
company. We begin to respect Nike because Tiger Woods uses them. Tiger
has sold his image. Using my treasured rock songs to sell cars,
computers and any other consumer product really offends me. The Who,
Led Zeppelin, Aerosmith and The Rolling Stones do it and have sold out.
The Doors have not (completely). Advertising images and music are
reality. Success isn’t about exciting rock songs and getting everything
you want. It isn’t about looking like Tiger. Spend your time on what is
truly important to YOU and not what on what the advertisers tell you.
Close the television and get outdoors. Take a hike in the woods. Marvel
at the beautiful sky. Life can be magical at times. Sometimes it’s the
simple pleasures that are the most rewarding.
Note: Although they allowed one song
to be used in the 70’s, here is what the drummer Densmore from the
Doors said recently being offered millions to use their music for Apple
and Cadillac advertising. From the latimes…
"People lost their virginity to
this music, got high for the first time to this music," Densmore said.
"I've had people say kids died in Vietnam listening to this music,
other people say they know someone who didn't commit suicide because of
this music…. On stage, when we played these songs, they felt mysterious
and magic. That's not for rent." Let’s summarize:
1. Take action today to spend less
than you earn. It will reduce stress and release those shackles of debt.
2. Your emotions and thoughts can easily make you spend more. Use
appreciation or gratitude to realize what is truly important in life.
3. Don’t let the advertisers make your reality. Your reality and
beliefs should have little to do with snazzy rock songs and advertising.
Please consider this article for your
website, blog or ezine. Permission to reprint if by-line stays intact
and links are activated on the Internet.
Terry Vermeylen is one of those rare
people that is passionately driven to help others unlock their own
barriers toward fulfillment, meaning and purpose. He is the founder of
http://www.mylifechanges.com/ an Internet value identification and goal
setting enterprise. His primary passion is millionaire wealth building
using common sense.
Terry Vermeylen may be contacted at http://www.mylifechanges.com
or terry@mylifechanges.com
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