Escaping the Rat Race and Achieving Financial Freedom Online

To start this lens off, I want you to take a look at where you currently are at. Take out a sheet of paper and draw a line down the middle. On one side list your assets on the other side list your liabilities.

Here are some examples of Assets:
1. Cash
2. Real Estate (other than your personal home)
3. Investments (stocks, bonds, mutual funds)
4. Businesses

Here are some examples of Liabilities:
1. Loans (student loans, personal, car)
2. Mortgage
3. Credit card debt

-List the totals, not the monthly payments. To find out your payoff amount simply car your loan providers.

Now, take out one more sheet of paper and draw another line downt the center. On the left list all of your expenses and on the right list all your sources of income.

Here are some examples of Expenses:
1. Mortgage payment
2. Taxes
3. Car Payments
4. Food
5. Gas
6. Entertainment
7. Water, gas, electric bills
8. Home phone, cell phone, cable, internet
9. Credit Card payments

Here are some examples of monthly income:

1. Salary (after taxes)
2. Royalties
3. Business income
4. Online income
5. Real Estate Cash flow
6. Dividends

The reason I like to start with this exercise is to see where you are at. What assets do you currently have? Do you have a pile of debt? How does your income stack up to your monthly expenses?

These two pieces of paper give you your current situation with no sugar coating added.

In going forward, I'm going to show you how you can change your "status quo" in your favor, and in all starts with a simple change in mindset!