Get Financially Fit!
Building Wealth
Follow the Leader
Oct 31st
Reprint of original article posted on Liveoutloud.com
When it comes to bringing your vision from the world of dreams into the world of reality, no one can do it quite like you! You hold your vision in your mind’s eye, and no two visions are alike. That is why it is up to you to bring it out and get your message across in having others help you to achieve it. You become the director for the cast of your own personal production.
As the leader of your wealth team, you will have several major roles to manage. First, you must analyze your overall business to determine who you need on your wealth team, and when. The best way to do this is to take a look at what you want your end result to be, and then work backwards. By breaking down your overall goal into smaller, more manageable chunks of time, you will not feel overburdened or overwhelmed. Even better, you will have smaller victories to celebrate as you reach each one of these goals, which will help to keep you motivated. By determining the next logical step in this continuum to success, you will be building a timeline for your vision, as well as figuring out who you need to join your team, and when.
After you have figured out the timeline and know who you need to get you to the next step, you will next need to actively recruit those individuals for your team. The best way to go about this is to actually interview some people. Find someone that you feel comfortable talking to and feels like a good fit for your goals. Does this person actively tune in to the conversation? Do they only have one option they can consider for your wealth goals, or do they provide multiple options and list the pros and cons of each? I would think that someone who can consider more than one option when it comes to building lasting wealth would be a good fit for your plans. This would be someone who can see several angles, as well as be open to suggestions and ideas from you, the vision-holder.
One of the most crucial roles you will fill is in the art of communication. You have gotten real about what it is that you want, and you have a clear vision of what you are going after. This alone should cause enough enthusiasm to carry you forward! Better yet, enthusiasm is contagious, and will motivate others to want to help you succeed. If you feel your enthusiasm beginning to wane, it is time to tweak your vision a little in order to get back that momentum! Others will feed off of that momentum, bringing you closer and closer to your Freedom Day!
Leadership is a process. With proper attention, consideration, and enthusiasm, you will succeed in getting others behind you, following the leader!
Blogging for Dollars
Oct 24th
Check out this interesting article. The most fascinating part is how the profiled bloggers essentially turned their hobby into a cash machine!
By Paul Sloan and Paul Kaihla, Business 2.0 Magazine
(Business 2.0) — Michael Arrington is a partying kind of guy. While showing off his home in Atherton, Calif., he boasts about how he crammed 500 people into his one-acre backyard at a bash in February. Then there are the official parties, like the one he threw in mid-August at August Capital, a nearby venture firm. Arrington posted an open invitation on his website at 3 a.m. By sunrise, all 500 spots were taken; the onslaught of traffic crashed his site. “I knew it would be fast,” says Arrington, who houses so many out-of-towners in his ranch home that he often isn’t sure who’s crashing on which mattress on which floor in which room.
What It Takes to be Rich
Oct 24th
Money Magazine’s Ryan D’Agostino hit the streets in America’s wealthiest zip codes. Knocking on hundreds of doors, he learned the secrets of financial success from those who’ve earned it.
Stop Paying Retail – Part 2
Oct 23rd
This article is the follow up to “Stop Paying Retail – Part 1″ written on Oct. 17, 2006. Building on the concepts discussed in the previous article, the following personal finance strategies are more complex and not necessarily appropriate for everyone:
- Affiliate Programs – Also known as referral marketing, many retailers offer incentives for sending business their way. Normally, if we find a product or service we really like, we’ll tell all our friends and family about it. However, we don’t always receive compensation for that recommendation. The good news is there are several affiliate marketing programs such as Commission Junction, LinkShare.com
, and Shareasale.com are free to join and offer lucrative commissions for sales of various products and services (including your own purchases).
How does this help one avoid retail price? First, using your cash back credit card such as Blue Cash®
from American Express, I make a purchase through your affiliation with a retailer such as Petsmart.com. Not only do I get cash back from my credit card company, I also receive a “rebate” through my affiliation with the retailer. In other words, I get paid twice!
- Form a Business – Having a business entitles you to additional legitimate tax write offs. Since I am not a tax advisor, you should consult your accountant or tax advisor to assess applicability to your individual situation. However, in my case, I can now legitimately write off expenses that were not deductible before I formed a business. In other words, many of my former personal expenses are now legitimate business expenses of Financial Fintess Pro.
Here’s to your wealth and success!
Disclaimer: Any information shared on the Financial Fitness Pro Forum does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser.
Stop Paying Retail – Part 1
Oct 17th
Tired of paying full retail price? Would you like to get steep discounts or even cash back for your purchases?
This article will be broken into a two part series. The first part starts with the basics that anyone can use right away.
- Cash Back Credit Cards – Cash back credit cards are the card of choice for many consumers. These cards provide anywhere from 1-3% cash back for your purchases. While there are many brands available, I prefer the TrueEarnings Card from Costco and American Express
or Blue Cash®
- Rebates or Coupons – Every year, I am able to get my PC software from Symantec
for free legally! How? I wait until my local electronic retailer places an advertisement where you will receive rebates equal to the total retail cost of the software. Typically, this happens in the fall as the new version of the software is ready for release; the retailers need to clear out their inventory to free up shelf space for the new versions. Similarly, coupon clipping as discussed on author Stephanie Nelson’s website, CouponMom.com, can also help one save money. - Travel and Lodging – My wife is expert at finding discount fares through Hotwire.com, Travelocity and Priceline.com. Explaining her technique warrants a separate article. Suffice to say, she is able to use Hotwire to get an appromixate cost for specific hotels and then bid below that “floor” through Priceline.
- Associations – Membership has its rewards. Organizations such as your local automobile association, the AARP, and alumni associations typically offer their members discounts to a wide variety of services. In addition, an organization such as Upromise.com offers a free college savings plan based on eligible, every day purchases.
Now let’s have some fun. Let’s say you combine techniques and use your cash back credit card with the other suggestions. If you do, you’re saving even more than you would by using one of these techniques individually!
While these are a few “basics” that are not original ideas, the second part of this article will focus on more advanced techniques that, when combined with some of the basic ideas, can be especially powerful.
Here’s to your wealth and success!