What is your "MONEY" story?

Pay Yourself First - Of all the tips in wealth building this is absolutely my favorite.

It is also the most powerful tip when it comes to wealth building. Not only will it empower you, it will also make you wealthy. So not to take anything away from Nike but the truth is you just have to do it!

So what does it mean to pay yourself first? It is taking a specific amount of money on a consistent basis and putting it to work making money for you forever. The initial amount is not as important as the consistency to begin with. I know for myself I had every reason in the book why I had to spend those dollars rather than leave them in a wealth building account. Until one day it became crystal clear to me that without developing this habit I was not going to achieve the financial goals I had set for myself. I have lifestyle goals, contribution goals and legacy goals; all of which require money.

Have you ever heard the question which would you rather have today; a penny doubled every day for 30 days or a million dollars? The answer to this question is actually the penny.

Albert Einstein taught us why when he taught us the power of Compound Interest. Compound Interest is a mathematical concept we learned in grade school. The magnitude of the power of this concept is not something you will realize unless you put it to work in your life. You must experience it!!!

So my question to you is: If you are not doing this, why are you doing what you are doing? When you get up in the morning to do the work you are doing what is your why for doing it? Paying yourself first is a mindset. It is one of the ways the wealthy become wealthier. There is something in the "doing" of this that will affect how you think about and behave with money. It's not a get rich quick scheme. It will make you wealthy. Make it a habit and see what happens.

We would love to hear from you - Are you paying yourself first? How would this look? please share with us in the comments below.

In Abundance,

Sue

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Appointment with Sue 

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Good Debt and Bad Debt - Be in the Driver's Seat!

Many of us do not believe it is possible to be debt free. 

The truth is the truly wealthy don’t have debt. Consumerism and the escalating pricing of the past is a symptom of a much deeper issue in our culture. In the United States the only place you can learn how to handle money is at home or if you strike out on your own in search of knowledge. It is not something taught in grade school at the time it really is best to begin.

When I first started in mortgage and personal lending in the early 80’s (which really wasn’t that long ago :) rates began at 12-14%. This didn’t seem to be as much of a struggle for people as the lending serviceability requirements (the amount of debt payments vs your income). At that time the serviceability limits were: your mortgage could not be more than 32% of your income and your total debt portfolio (car loans, credit cards, etc) could not be more than 36% of your income. By the time the banking industry was crashing the total allowable serviceability was at 60%. It’s no wonder we were in trouble even before the markets crashed.

So if you were not brought up in a home where money was talked about (in a positive way) or entrepreneurship was a way of life then it’s up to you to take the bull by the horns and go in search of knowledge.

I can assure you it is a possibility to be debt free. There is good debt and bad debt - do you know the difference? Debt, like money, is also a tool for creating wealth and there are strategies for when and how to use it well. Be in the driver's seat. When it comes to debt, don't let it control you! The good news is it doesn’t matter where you are starting from you can eliminate debt and take control of your finances.

Contact Sue for more info on good debt and bad debt.

In Abundance,

Sue

Appointment with Sue 

www.abundanceaccounting.com

What is your level of resistance?

When it comes to learning new things we all have a level of resistance that sounds something like this - new things are hard, messy, and possibly irrelevant. Have you ever tried to a new hair style? The hairdresser does this amazing job. You look great walking out of the salon but the next morning after your shower you can’t remember how to make it happen. So what do you do? Well you try and each day it gets easier and better and finally your friends are complimenting you on your great hair style!

Financial literacy is no different. Truth; you never have to know more than basic math – addition, subtraction, multiplication and division. Once you begin down the road of learning it. It will build on itself and it won’t be long before the things that initially felt hard and messy are all of a sudden old hat and you are ready to build on them with additional ideas and tools.

Financial literacy is a learned skill. What that means for each of us is that it is possible for us too. It does not matter how old we are, how much money we have in the bank or what our work is, we can learn this.

So why would you want to learn financial literacy? They say money can’t buy you happiness. In my experience money touches every area of our lives. When we are not driving the bus it is driving us, taking up time and energy that we could be using to create the things and experiences in our lives that truly bring us joy.

Two of my favorite authors for financial literacy are Robert Kiyosaki, author of Rich Dad Poor Dad and Loral Langemeier, author of The Millionaire Maker.

"Most wealth is inconspicuous. The man down the street driving the nice car and living in the mansion could easily have greater debt and a lower net worth than the stealthy and wealthy plumber who drives a beat-up truck but seems to work only when he doesn't feel like fishing." Loral Langemeier

“We go to school to learn to work hard for money. I write books and create products that teach people how to have money work hard for them.” Robert Kiyosaki

Invest in learning. Learning can come in many forms: reading, webinars, classes, or coaching. For a lot of us, finances can be a scary topic. Fear is nothing more than a lack of knowledge on a topic. With the Internet today the world of knowledge is at our fingertips. Begin to explore.
Contact Sue

In Abundance,

Sue

Appointment with Sue 

www.abundanceaccounting.com

 

Gratitude for the work we have -

This weekend is Labor Day. For most of us it means an extra day to rest from our labors. To spend time doing things that we love, outside of our work, with people that we love. It is a time to be grateful for the work that we have.

When I hear someone complaining about their work, lamenting about how it is their right to have that job or that they expect to be taken care of more regardless of the effort they put in, I am saddened. Whether you are the owner of a company or an employee the work is a team effort. Each plays a role or a part to ensure the success of a company. It is that success that allows each to continue working and to be reimbursed for that work. If you are an employee who feels taken advantage of my question to you is are you in the right field and are you playing 110%?

I always have the most fun working in collaboration. You know when you are working with someone whose “come from” is giving instead of taking. Then it is all about being of service to the bigger picture instead of what am I going to get out of this. There is an energy about it that is creative. That is where results take off and soar. Napoleon Hill says we are reimbursed in direct proportion to the service we bring to others. I always ask myself what level of service am I providing? Am I playing at 110%?

When the service we provide is a passion for us, when that service is how we do all areas of our life, that is when we notice results that are beyond our wildest imaginations. When we play 110% for the sake of playing instead of what we will get in return for it. That is when magic happens. 

 

So this labor day I for one am truly thankful for the work that I do and the people I get to play with who are all about service!

In Abundance,

Sue

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Appointment with Sue 

www.abundanceaccounting.com

Millionaire Mindset

Associate with like-minded people

  

We are all part of the same puzzle!

Did you know that you will become the average of the five people you spend the most amount of time with?  We become like those we spend our time with.  So look to your left and look to your right and decide if how those around you are living is how you want to be living.  It’s not about right and wrong, it’s about what do you want.  What is your dream, your vision, your passion and are you living it.

Be clear what you want to achieve and then find the people who have already achieved those results. Check in to see if they would be willing to mentor you or research them to see if you can learn how they achieved their results.  People love to help others. Don't be afraid to reach out.  People who have what you don't have simply think differently than you do.  It is impossible to know what you don’t know so it takes the willingness to reach out and learn from others.  Have the courage to take conscious risks to begin to achieve the life you want.

In his book “Secrets of The Millionaire Mind” T Harv Ecker describes steps that each of us can take to master the inner game of wealth.  It is interesting to realize that the things we want most in life are always on the other side of doing something new.  When we are clear enough on why we would want to create the wealth then we will be willing to learn new things and take new steps.  The really good news is you can start today from wherever you are.   Contact Sue

In Abundance,

Sue

Appointment with Sue 

www.abundanceaccounting.com

Learning Happens in the Journey

School supplies are already showing up in the stores. It feels like summer just began; yet here we are already beginning August! When I was younger, I loved going to the office supply store: all the new pens and pencils, new workbooks—just ripe for creating something in. These were the tools that would get used to record new learning. Learning is one of the things in life I still truly enjoy. The sparks of new thought married with my own hopes and dreams always seems to breathe new life into me; a breath that brings hope, joy and clarity--kind of that feeling you get at the beginning of any new relationship. There is almost giddiness to it.

With all dreams and goals, there comes the action that will actually create the results.
For so many years, I have been so focused on the results. Everything I did was for the
end result. Focusing this way does create results, however, the fullness of life and greatest impact of the results happens along the way. It is in the daily practicing and practicing where we get stretched. This is where we become who we are. This is where we meet others. This is where, when we are grounded and open, we can catch insights that are greater than anything we could have come up with on our own. The truth is there are always results. The question is, “was I aware of all of them?”

In Abundance,

Sue

Contact Sue

Appointment with Sue 

www.abundanceaccounting.com

Exit Strategy

Do you have or need an exit strategy for your business?

With six months left in the year, why would I be asking you to think about an exit strategy?

The most successful business (success being that when you retire, close, or sell your business you have profit or money in the bank to live off of) requires having an exit strategy.

The time to figure that out is right now!

By creating an exit strategy using business forecasting techniques with me, a financial expert who has been doing this for 30 years, I can provide you with a short, medium and long-term strategy to help your business experience grow.

Ask yourself these questions:

·       Are you building an asset to sell where the proceeds from the sale will fund your next steps in life?

·       Are you creating a legacy to be passed on to the next generation?

·       Are you creating a method to create cash where that cash will be used for investing to fund the next steps in your life?

·       Are you creating something to do for a time that will allow for a certain lifestyle for that time?

Once you are clear on these answers you are ready to create the forecast for success.

If you are ready to experience long-term growth, despite the economic conditions, and to create an exit/profit strategy with a trusted and experienced financial management expert, then contact me today.

For more ideas and a complimentary analysis

to determine where you are - give us a call today

(406) 257- 6044!

In Abundance,

Sue

Contact Sue

Appointment with Sue 

www.abundanceaccounting.com