WEALTH CREATION PRICIPLES
One of the biggest hurdles to overcome in life is our thoughts about wealth and money. In fact, there is currently a financial crisis at hand. Factors relating to this crisis are: household spending is at a record high, personal debt is increasing, personal bankruptcies have doubled in the last decade and never before in history have people had so much “stuff” yet so little satisfaction! People spend money they haven't even earned and buy things they don't need, often spending just to keep up with the latest fads of their friends, relatives or neighbours. Consequently, with all this spending, a few are getting richer whilst most are getting poorer. Despite that there are more millionaires, billionaires and trillionaires existing on earth!
So, why are some people wealthy and others not?
My research has shown that attaining wealth has nothing to do with luck, education or intelligence. The truth is that wealthy people understand the principles of accumulating wealth and simply put them into action. I cover all of the principles in my book Empowered for the New Era, but here I’ve outlined five key lessons. By following all the principles of wealth, your life will change and you will generate wealth.
These five lessons are very simple; however, they require courage and commitment for change to manifest, particularly in the ways you think and behave toward money.
Lesson 1: Choose To Be Wealthy
Like most things in life, wealth begins with a decision. Today you can choose to build wealth. Write down a “wealth affirmation” and make it clearly visible so you look at it every day. Your conscious decision to create wealth is the beginning of change - the moment you made the decision, your consciousness automatically starts working to create that reality.
Lesson 2: Be Responsible with Money
If you don't control your money, money will control you! Controlling money simply means taking responsibility for what you have. You need to know where your money comes from, how much you have/earn and where it’s going. Take time to write these three aspects down – be precise. Assess your emotions while you discover what your money is doing. It’s easy to take responsibility and make your money work for you when you know you’ll feel good.
Lesson 3: Save a Percentage
Wealthy people use the “pay myself first” principle before paying others. They usually take 20% from their earnings and bank it or invest it in a separate account every payday. This money is never touched unless an absolute emergency arises. These untouched savings accounts earn compound interest (interest on interest) and their money keeps increasing.
Lesson 4: Adopt a Winner’s Attitude
Winners always strive to increase their income and reduce their costs. You can quickly reduce the amount of money you spend by asking yourself “Do I really need that?” before buying something. You could take public transport occasionally instead of driving or consider car pooling. Reduce food waste by planning meals and buying only the ingredients required – avoid buying all the extra temptations in the supermarket! By replacing the common (destructive) thought that “Consuming is a necessary part of life” with something that is constructive like “As I simplify, I beautify” you’re adopting a winner’s attitude of “win-win” i.e. you win and earth wins! I guarantee possessions will not make you happy.
Lesson 5: Give and Receive
I’m sure we’d all like to live in a society where everyone has enough, is taken care of and supports one another. Unfortunately we don’t live in a society like that, so there are many who do not have enough, are not taken care of and do not support others. Most people focus only on themselves; hence millions starve to death, live in poverty and are neglected. Giving freely of our time, money and resources to those less fortunate contributes immensely to society and is our guarantee of receiving love, joy and peace. If everyone contributed in this way abundance would be commonplace.
Remember: Giving is love in action.