Step 1 – Give
Giving sets things in motion and is a seed that gets planted. Every seed that gets planted, will eventually yield fruits. It is a law that God has created and cannot be cheated or manipulated – we can just learn how to work with it.
“Give, and it will be given to you…” Luke 6:38
“Now this I say, he who sows sparingly will also reap sparingly, and he who sows bountifully will also reap bountifully. So let each one give as he purposes in his heart, not grudgingly or of necessity, for God loves a cheerful giver. And God is able to make all grace abound toward you, that you, always having sufficiency in all things, may have an abundance for every good work. As it is written… Now may He who supplies seed to the sower, and bread for food, supply and multiply the seed you have sown and increase the fruit of your righteousness…” 2 Cor. 9:6-10
John D. Rockefeller: “I would never have been able to tithe the first million dollars that I have ever made if I had not tithed my first salary, which was $1.50 per week.”
You may have small things or a little cash right now, but it’s what you do with what you have that really counts.
Step 2 – Pay off all debt
It is far better to have a few less toys, and owing nothing to anyone, for “the borrower is servant to the lender” as Prov. 22:7 suggests.
All and all, you could have used that money that you are using to pay off your debt, to give out to those in need.
Step 3 – Start a business
This business, blogging, can be the start of a new business adventure. You can actually make money with it. The purpose of this post is not to go into detail about options or ways to create an internet business, but rather on ways to get overall success in the long run.
Running your own online business has its own pros and cons. You need the motivation to get yourself going each day. You no longer have that boss behind you o keep you on your toes and performing each minute, but now the responsibility lies on you and you alone. The more effort you put in, the greater the results.
The biggest upside is ofcourse that you get to do what you are passionate about, and ultimately doing what you’re most passionate about, results in bigger success.
Step 4 – Defy Parkinson’s Law
Parkinson’s Law states that expenses rise to meet income. So if you make $50K and get a raise to $53K, you will quickly wonder where that raise went. Normally people start spending the moment they hear anything about that raise, and after tax deductions and everything else, they suddenly realise that the raise wasn’t quite as much as they have thought.
This is the same reason you see millionaires go broke.
Most people think you should increase your standard of living with each increase you get. The key however, is to keep your expenses constant, no matter how much is coming in.
Bob Lotich’s plan to prove Parkinson’s Law to be a myth, is to keep his standard of living constant and ultimately keep his spending intact. By doing this, he will soon have built up a nice surplus of capital, which can be used for the next step, paying off your house as soon as possible.
Step 5 – Pay off house ASAP
Your ultimate goal regarding your mortgage payment is that you want it paid off as quickly as possible. So if you are able, paying of more each month than what is required, will considerably shorten the term of your loan. It is very surprising how quickly a bond can be paid off by just putting that little bit extra each month towards your payment.
When you’re bond is finally paid off, think of all the surplus cash you can have at the end of each month to spend on something else!!
Step 6 – Invest Wisely
There are a lot of investment strategies out there on the market today, some with high risks and others with lower risks involved, but that discussion is for another day.
The point is, investing is a quality that everyone should implement sometime or another in their lives, whether it is for your children’s education one day or your retirement, investing should be taken very seriously and required.
Step 7 – Give
It all started with giving, and it all ends with giving. Giving is the pathway to ultimate success and fulfilment. I once read an article by a well known author and financial coach, but he said that the “secret to riches lies in the amount that you’re giving.” I believe this to be one of the truest statements on financial well being out there.
In Summary
My advice is that we all need to start somewhere, so start small. It doesn’t matter how much dept you have, or how little your current income is. The key is to make the most with that which you have.
Take and use what God has given you and start to move in the right direction, and he will smooth out your ways.
If you have any comment on the subject, I want to hear from you.
Any other ideas and thoughts about the site, write to me at reast2@gmail.com
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