Choose To Improve Your Financial Situation Each Month

Don't work for money, let your money work for you!

Everyone I say this to immediately agrees with me that it is the right way to go.  Then, when I ask them what they are going to do the next morning, they reply "Go to work."  It is not enough to know that you should invest, it is also necessary to do it.

However, this third mainly pathway of life is not just investing.  Increase in WEALTH means more than just investing.  It also includes:

  • Reducing your debts.
  • Creating a financial plan.
  • Increasing your sales.
  • Getting more clients.
  • Networking.
  • Advertising.
  • Getting a credit card.
  • Getting rid of a credit card.
  • Paying off the balance on a credit card.
  • Raising your fees or your prices.
  • Getting a raise if you are employed
  • Buying a piece of real estate.
  • Buying stocks or mutual funds.
  • Improving your referral system.
  • Increasing your savings account.
  • Mortgaging a property.
  • Paying down a mortgage.
  • Decreasing the interest rate on your debt.
  • Increasing the interest rate on your savings.
  • Selling something you own.
  • Making a will.
There are many ways to impact your financial situation.  All these ways fall into four basic categories because as accountants know, there are only four buckets that money can fall into (assets, income, liabilities or expenses).  So you can:
  • Increase your assets.
  • Increase your income.
  • Decrease your debts.
  • Decrease your expenses.
If you do not consciously improve your financial situation every month in some way, then the years slip by.  A sailboat with no rudder ends up wherever the wind happens to blow.  Sometimes that improvement is minor..  That is okay because the sum total of consistent minor improvements accumulates to a powerfully enhanced financial status.

Aesop, the author author of 650 famous fables taught great moral lessons 2,600 years ago.  The wisdom of this lowly slave lives on because of the timeless value of what he wrote.  Likely his most famous fable was "The Tortoise and the Hare," wherein he proved that "slow and steady wins the race."  It is still true today.  Make a financial step, even a small one every month and you will win.

Written by:
Double Your Income Doing What You Love : Raymond Aaron

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