A Good Habit for Financial Success
It's the New Year and time for new beginnings. If you have decided to change your financial situation for the better this year and aren't sure where to begin, I'd like to share a habit with you that Robert and I started years ago when we didn't have any money.
For every dollar that came into our house, we took 30% off the top before paying any bills, 10% went into a savings account for emergencies, 10% went into an investment account, and 10% went into charity or tithing.
We did this with every single dollar, and that was the biggest habit that we adopted, and it really paid off. Now, you can start with smaller amounts. It doesn't have to be 30%. It can be 15%. It can be 10%. Whatever it is, start the habit of paying yourself first because that's your financial future.
And if you are in the process of living below your means and trying to save money, it's time to think differently. As I mentioned in previous entries, think about ways you can expand your means and increase your cash flow instead. Follow the Triple-A Triangle and Aspire, Acquire and Apply.
Obtaining financial freedom is not easy and takes discipline. If you really want financial security for life, you've got to change your financial habits, and you've got to put in the time and the effort. There's no easy way around it. And since this is the start of a brand new year, it's the perfect opportunity to form new habits that can lead to a future of financial freedom.
To help you learn more about financial freedom and get the support you need to succeed, check out "It's Rising Time!" here.