8 Tips to make your financial life better

1. Pay yourself first

Paying yourself first means putting

yourself and your family before any other

demands on your money. Paying yourself first

is a form of self-respect.

Deposit a set amount EACH AND

EVERY MONTH into an investment

program, no matter what other financial

obligations you have. It’s amazing how fast

your money can grow if you invest even a small

amount regularly, at a good rate of return.

2. Adjust your priorities

It’s been said that:

If you make $10 and spend $9 = happiness

If you make $10 and spend $11 = misery

As you begin your journey to financial

independence, remember this key point: It’s

not what you make, it’s what you keep.

3. Change your thinking

The way you think about money is

everything. Your mindset is a powerful thing –

especially when it comes to money.

That explains why so many of the people

who win the lottery … end up losing it all.

It helps you understand how so many

millionaires are self made.

What is the difference between the two

groups? It’s how they think.

If you think you don’t deserve to be

financially secure, you’ll never be financially

secure. However, if you “upgrade” your selfimage

and believe you deserve the freedom and

peace of mind that financial security provides,

you’ll have a better chance at doing what needs to

be done to obtain wealth beyond your dreams.

4. Adjust your lifestyle

Along with setting priorities comes one

tough rule of life: you can’t have everything.

You have to make conscious decisions about

every purchase.

An important concept to understand is

want vs. need.

• A need is something you have to have,

something you can’t do without. You

need” food. You “need” shelter.

• A want is something you would like to

have. You “want” ice cream. You “want” a

bigger house.

If you want to achieve financial

independence, you may have to make sacrifices

for a period of time and go without some of

your “wants.” It’s not that tough, but it is very,

very important to your financial health.

5. Earn additional income

If your family income is very modest,

things may be so tight that it’s tough to invest

more than $50 a month. If you want to make

significant progress, consider taking a parttime

job to get the extra income needed to

start your investment program.

6. Re-align your assets

This is another way to take control and

free up income for savings. There are two

major areas in which families are not getting

their money’s worth that are great areas to

target for adjustment:

1. Low-interest savings accounts or

accumulations with banks.

You can take money from a 1% savings

plan and invest it in an area that has the

potential for higher returns.

2. High-cost life insurance. You can

replace your outdated, expensive cash

value insurance policies with term

insurance and potentially save thousands

of dollars in premium over time! Both of

these areas are covered in more detail later

in this booklet.

7. Avoid the credit trap

Credit cards are good for convenience

but that’s it. Be
careful to avoid the pitfalls

of “plastic money.” Pay your balance in

full each month and you’ll not only avoid

interest charges but you’ll prevent your balance

from escalating out of control. To keep your

monthly charges under control, pay with cash.

You’ll probably find you spend less when you

have to hand your money over.

See how many options you have? You DO

have a choice about your financial future.

8. Set goals and have a plan

You can’t reach your destination if you

don’t know what it is. Setting goals gives you

two things:

1. An incentive to make the necessary

sacrifices

2. Benchmarks along the way to gauge

your progress

After you’ve set your goals, you need a

road map to get you there. You need a financial

game plan. Together with your goals, a game

plan is the cement that holds together your

financial foundation.

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