In This Issue
From The Budget Coach
Featured Tips & Information:
-- Tips from the Millionaire Books
Inspiration For The Month
Your Question for the Month
Spe*cial Offer of the Month
Recommended Resources
Recent Media Announcements
Contact/General & Unsubscribe Information
From The Budget Coach
Welcome to my "Common Cents Budgeting Tips" Newsletter.
If you are receiving this newsletter for the first time, please note that all previous newsletters are now available on the website for your convenient viewing. Visit www.moneytracker.com/articles.htm
I'm delighted to have the opportunity to share these tips with you. Remember, you are a vital part of this whole exchange and if you ever have questions or some valuable experience or resource you want to share with others, please don't hesitate to let me know.
Many of the new sections that were added to The Budget Kit workbook over the various revisions these last many years, came from insightful readers and clients like you who wanted to help make a difference.
Remember to email me at judycents@moneytracker.com with any tips, resources or comments you would like to share as well as any questions. Working together is how we can all make a difference in our financial lives.
Have a fulfilling and prosperous day!
To Your Success,
Tips & Information
Tips from the Millionaire Books
I don’t know about you, but I can hardly go a day without seeing some promotion on how to become a millionaire through new books, mega-seminars, tele-seminars, website promotions, classes and more.
As frustrated as I get with the current frenzied hype on becoming a millionaire, there are always some gems to take away from the information which I want to share with you.
"No thought lives in your head rent free"
Secrets of the Millionaire Mind:
Mastering the Inner Game of Wealth
--T.Harv Eker
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During my fifteen plus years of financial counseling, when challenging financial/ emotional issues would come up for my clients, I would often say, “This issue is really not about money – even though you believe it is”. It’s so easy to focus the thoughts on blame and excuses, when many times, there is much more going on behind the story.
T. Harv Eker does a fantastic job of explaining and guiding you through the whole inner game of wealth. Your thoughts are very powerful and can lead you toward success or away from it when dealing with your money. The key is getting in touch with the original programming of those thoughts and reactions and noticing how they are now impacting your life.
The Money Tracker: Find the Cash to Get what You REALLY Want was written as a workbook for just that reason. I wanted to help readers bridge that gap between their spending activity and the feelings buried behind the actions.
As Mr. Eker says,
“Your subconscious conditioning determines your thinking.
Your thinking determines your decisions,
and your decisions determine your actions,
which eventually determine your outcomes.” What outcomes are you having in your life right now? What inner programming are you willing to look at and change to improve those outcomes?
"MoneySkill #2 – Control:
Control your money to the penny"
The One Minute Millionaire: The Enlightened Way to Wealth
--Mark Victor Hansen & Robert G. Allen
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This book is one of my absolute favorites! I loved the innovative left brain, right brain approach with a story on the right pages and powerful practical tips on the left pages.
The numerous concepts covered include mentors, multiple income streams, teams, and leveraging time, knowledge, and skills, from an “enlightened” perspective. All of these definitely moved me to a new level of thinking.
Even though MoneySkill #2 was brief and had a one paragraph description in the entire book, it still reflects the core message for financial success. Controlling your money starts with the basics.
“Wealthy people shop for the best value,
ask for and expect a discount,
examine their receipts for mistakes,
attempt to turn each expenditure into a legitimate tax-deductible business expense,
balance their checkbook to the penny
and file their receipts upon returning to their home or office.
These activities only take an extra minute of time but build long-term financial peace of mind.”
Nearly every money book I have read has some section that emphasizes the importance of creating a system for managing finances and cash flow. Of course, my favorite recommendation for understanding the core concepts of money management and having the manual tools for following through, is my workbook The Budget Kit: Common Cents Money Management Workbook.
What basic steps can you take for better control of your money?
What thoughts can you change for better control of your money?
"The definition of wealth is: The number of days you can survive, without physically working (or anyone else in your household physically working) and still maintain your standard of living."
The Cashflow Quadrant:
Rich Dad’s Guide to Financial Freedom
--Robert T. Kiyosaki
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Reading Robert Kiyosaki’s books and listening to his CDs gave me a whole different perspective about generating wealth. If you read any of Kiyosaki’s books, you know he emphasizes finding additional ways to generate income beyond the usual formula of getting paid a salary or charging an hourly fee.
The Cashflow Quadrant: Rich Dad's Guide to Financial Freedom, represents the four different methods for generating income - as an Employee, Self Employed Person, Business Owner, or Investor. One half of the quadrant is based on the hours actually worked. The other half is based on indirect or passive earnings. Some examples of passive income include interest, dividends, royalties, rental income, real estate appreciation, Internet affiliate fees, and network marketing.
Mr. Kiyosaki thoroughly goes through each quadrant and then helps you determine which quadrant to work from and when for choosing new options and financial freedom.
Another core message is what you do with the money. For years I have been quoted as saying “It’s not how much money you make, it’s how you manage the money you make.” As true as this still is, Robert Kiyosaki added a very significant piece when his rich dad said:
“Financial intelligence is not so much how much money you make,
but how much money you keep,
how hard (and long) that money works for you,
and how many generations you keep it for.”
How can you make your money work harder for you?
Do you have home equity that could be making money (and assets) for you instead of creating more debt as a loan?
Do you have some investment dividends (perhaps from inheritance) that could be reinvested instead of spent?
Do you leave large balances in your checking account instead of investing the money ?
"The more you learn about the mistakes that can happen during the game, the more you are going to avoid making them happen in real life.”
-- Clinton Swaine
- Millionaire’s Market Game
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I love games and love learning while having fun. The Millionaire’s Market Game is an all day interactive, experiential investment game, with play money, that allows a simulated market environment to reflect a person’s investment behaviors, actions and results in a non-threatening and safe environment. Players have a fabulous opportunity to learn, experiment and fail before going into the ‘Real World’.
The expression “How you do this, is how you do your life” was a perfect statement for my first experience of the game, when it came to the San Francisco area this month. Evaluating what I learned at the end of the game, I realized I kept myself very busy and productive initially, yet as I looked at my running net total after doing a number of “deals”, I had not really generated a great deal of money. Well, I have seen that played out in my life a few times!
This fast paced and exciting new game is currently being played in major cities in California and gradually becoming available across the country. To learn more, or to start a game in your city, go to www.millionairesmarketgame.com or call Clinton Swaine at 909-578-5824. Be sure to let him know you heard about it through my newsletter. Have fun!
If you have a favorite book, class or website that has changed your thinking (and actions!) about finances, please be sure to contact me and share your information.
I hope you are enjoying your summer, doing some fun reading and successfully managing your finances.
Please let me know how you liked today’s information and feel free to share it with others.
Thank you so much for being part of my online “family”.
Have a very abundant and fulfilling 2005.
For more information, feel free to contact me at
judycents@moneytracker.com
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