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Making Money Multiply Magically

Written on September 8, 2009 by admin in Money

magic money We often romanticize about what life would be like with more money. We may think we would have more leisure time. We may picture ourselves spending some of that time in front of our new plasma TV. We may assume we would be happier.

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But then the reality kicks in.

Research shows that we tend to quickly spend our new found cash. It also shows that new material possessions make us happier for a very short period of time.

More importantly, we make an incorrect assumption about what it takes to make more money. We often have to spend more time working and commuting. So we actually have less leisure time.

We end up in the rat race.

We work more to make more money. Then we spend more money so we have to work more to make yet more money. Then we spend more so we have to work more and on and on.

There are two lessons here for us:

Be careful how you define bigg success. If it means more money, understand that there is a price. You’ll almost certainly have to invest more time.

Our definition for bigg success is life on your own terms. For you, that may mean more money. But it may not. We focus so much in our society on money. It’s important to remember that money is the means to an end, not the end itself.

The funny thing is that you often end up with more money when it’s not the center of your focus. Here are four ways to make your money multiply magically:

Focus on your whole life.

Find work that you love. Take up a hobby if you don’t have one already. Build strong relationships personally and professionally. You’ll find that it often doesn’t take much money to spend your time doing the things you love with the people you love.

So your money will multiply magically!

Spend less than you make.

Sounds pretty simple, doesn’t it? But we all know that it isn’t. It isn’t simple but it is necessary.

Don’t fall into the trap of thinking life would suddenly be much better if you just made more money. Make the best of the money you make now and your money will magically multiply.

Avoid consumer debt.

If you have it now, pay it off aggressively. Get used to paying for purchases with cash. This is a timeless principle that applies to all economies and all people. We’ve recently relearned this lesson.

Here’s a question to ask anytime you’re tempted to buys something with borrowed money:

“If I can’t afford it today, what makes me think I can afford it, with interest, tomorrow?”

Many people assume they will make more money in the future. They don’t factor in that their costs will likely be higher in the future. That’s how they end up in the rat race and debt just compounds it.

Note that we didn’t say avoid all debt. It may make sense to borrow money for a legitimate investment. You have to prove out the opportunity, but a lot of people have made their money multiply magically by using leverage.

Invest wisely.

As we learned last year, stocks don’t go up forever. As we’re seeing this year, they don’t go down forever either. So invest in a diversified portfolio of assets. One of the best ways to do this is through no-load mutual funds as part of a qualified retirement plan.

Don’t let your money control you. Control your money and watch it multiply magically! That’s bigg success!

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Thank you so much for checking in with us today. Please join us next time when we’ll look at the first win entrepreneurs must achieve. Until then, here’s to your bigg success!

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Want to be a Millionaire? Here's How to Think Like One

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Tags: audioblog, bigg success, debt, george krueger, incorrect assumption, investing, leisure time, life, living, magic, mary-lynn foster, material possessions, means to an end, personal finance, plasma tv, podcast, rat race, the bigg success show, Work

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Three Levels of Freedom – Part 2

Written on June 30, 2009 by George Krueger & Mary-Lynn Foster in Personal Growth

freedom Today, we’ll continue our series on freedom today. It’s a five-part series kicking off with a three-part sub-series. We got started last time when we discussed the first of the three levels of freedom – freedom of.

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We said “freedom of” are those freedoms we have as a result of living in a free society. It’s something we shouldn’t take for granted because plenty of people aren’t so fortunate. Today we want to move to the second level of freedom: freedom from.

Self-created obstacles

Now let’s move to the second level of freedom – freedom from. As we strive for bigg success, we face many obstacles. In many cases, these obstacles are self-created. Now unfortunately, these self-created obstacles are often tougher to get through than obstacles that fate or whatever else may throw our way.

That’s because these obstacles are internal. So we have to re-program our own minds to get beyond them. And that’s often harder than finding a way to go past an obstacle that was put in our path by some external event.

Freedom from is a massive topic. Today we’ll focus on three categories of dependence:

Dependence on others

When we’re young, we’re dependent on others to take care of us. Then we grow up and get out on our own.

Now we seem to be independent, but in some cases we’re still carrying some dependent behavior with us. For example, we may never outgrow worrying what other people think.

Dependence on things

The most obvious things we can become dependent on are drugs or alcohol. However, we can also become dependent – even addicted – to material possessions, fame, money, and even success. Anything that takes control away from you is an obstacle to your bigg success.

Dependence on limiting thoughts

Limiting thoughts can become a security blanket. It’s the place we go when things don’t work out. We tell ourselves that we don’t deserve any more. That we’ll never have any more. That’s how we explain the world.

So our future becomes intertwined with our past. Because we can’t – or won’t – move beyond these limiting thoughts so we never experience the bigg success we were born to live.

Freedom from: Moving from dependence to independence

Dependence is the opposite of freedom from. We want to move from dependence to independence. Let’s tackle the three categories of dependence one at a time.

Freedom from dependence on others.

We’re not talking about dependence in the sense that they support you. We’re talking about caring too much about what other people think.

Bigg success is life on your own terms. Many people never truly live their lives on their own terms. But you’re a bigg goal-getter. You will. You must take control away from anyone else that keeps you from reaching your goals. Stop worrying about what they say – go out and be a bigg success. Then see what they say!

Freedom from dependence on things.

We won’t discuss dependence on drugs or alcohol. That’s for the professionals.

We do want to talk about other things. For example, we’re coming out of a time when many people became so dependent on accumulating the hottest this or the newest that. They became imprisoned by their own spending.

Take control of your life. Freedom from means not being driven by outside forces. It means substantive rather than superficial. It means seeing the end, not just the means. It means knowing what you truly want and going for that instead of worrying what your neighbor has or what your classmate from college just achieved.

Freedom from dependence on limiting thoughts.

Appreciate how special you are. You are truly one-of-a-kind. There never has been, or ever will be, another person with your unique DNA, experiences and perceptions.

Talk to yourself with respect. We say things to ourselves that we would never say to someone else. Talk to yourself like you’re your best friend. You should be your best friend anyway!

If you’re afraid of doing something, do it afraid. Conquer your fears one day at a time, one fear at a time.

Understand that bigg success comes in baby steps. Change a little at a time so you reach the bigg success you deserve!

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Thank you so much for reading our post today. Please join us next time when we’ll discuss the third level of freedom – freedom to. Until then, here’s to your bigg success.

Subscribe to The Bigg Success Show in iTunes.

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
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Three Levels of Freedom – Part 1

(Image in today's post by svilen001)