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If you are in control of money you can go to work because you want to. If money is in control of you then you go to work because you have to. This is a subtle difference in writing, but a big difference in how you live your life. Even in the wealthiest Country’s in the world, 99% of the population is still being controlled by money mostly because they don’t know how to manage money better. The effect is lack of money, the cause is thinking.
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Please read the disclaimer before you continue.
One of the first areas to look at when learning to manage your money is your personal net worth. This simple calculation will give you an idea of weather or not you are moving in the right direction. Think of it as a financial feedback mechanism. I would go so far as to say that this is the single most important piece of information you will need to know. If you just learn what this is and how to calculate it, you will be further ahead than most of the population. Lets look at how to calculate your personal net worth, as well as how you can get your free personal net worth calculator.
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What comes first, the harvest or the planting? To any person this would be a rather stupid question. Obviously you will need to plant a seed before you can harvest it. Then why do most people have this concept in reverse when it comes to money management? Most people spend money before they make it, or they want to reap the benefits of a large harvest without planting any seeds. To put it bluntly, most people want to spend like the wealthy while working or investing like the poor. I’m not judging or comparing; I’m, just simply saying that if you want to spend like a wealthy person, you should probably make money like the wealthy person. Most wealthy people I have met or read about say they view money as potential or opportunity. Just like a farmer would see the oak tree instead of just an acorn, wealthy people see things like vacation homes and time with family instead of money. Wealthy people are farmers, planting and harvesting seeds of money. A healthy farm would allow you to quit your job.
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