How to Become Financially Healthy
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Are you financially healthy?
Wealthy and Healthy! This is the life most folks dream of. Many think that becoming financially healthy is working very hard. While perspiration is a big part of it, there is much more than that unless you have a rich Aunt and magnificent genes!
Your first big challenge in hitting the optimum of financial health is to let go of mental rubbish: fractious worries, niggly fears, and your life time of shoulda-woulda-couldas. Divorce the word money from the word problem. Get out of the hurt locker and look up. Think of money opportunities, instead. Think about wealth. Do not sigh and say that you can hardly make both ends meet. Stop walking with sagged shoulders and talking about your problems and life's unfairness. Your attitude is really going to make a difference. If you look a loser and feel a loser, that is what you'll be. Talk about your plan to earn more money. You may be one of those who keep telling people how little money you have. If you focus on negatives, that's where your energy will go.
To become financially healthy, read this book first
Change your mind and how you think about wealth
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
Amazon Price: $3.79 (as of 02/23/2012)
This book changed my own thinking and I often go back to it just to refresh my mind which has been conditioned by things that stop us from making ourselves financially health. To create financial health, start with your minds
Are you financially healthy?
Or just have a mountain of money?
Some folks have a mountain of money but don't use it to have a life. They keep it. They build a fortress with it instead of a dream castle. If anything bad happens, they are ready to hurl money at the problem from behind the moat, drawbridge and crenellated walls! These people are not financially healthy. Their fear paralyzes them. They are always on the edge around money. They can't even share for fear that they might have less for any future nightmare they will need. Guess what? A little prudence makes sense. But, if you focus on planning for disaster, you are calling out for disasters to come. How sad.
Manifest financial health in your life
Let these videos guide you to financial health
Want to be financially healthy?
Look for abundance around you
You want to be financially healthy? Change the picture. Look at what is working well in your finances and your life. Celebrate this. The best way to celebrate is to look carefully at what works, get a picture of all of the positive elements in your mind and then, look for abundance around you. There is so much life and growth in your microcosm: trees bearing flowers and fruits, fish in the ocean, the sun shining brightly, so many butterflies flying from flower to flower. The are hundreds of scenes of abundance in our everyday lives.
Many of us look for what we don't have, think of our worries. and problems. That focus will crush your spirit and destroy your energy tanks. See yourself immersed in beautiful things: a beautiful house, expensive cars, luxury travel and a debt free existence and a sense of peace with the world around. Do this and your arrow aimed at the health-wealth target is flying.
Your guide to abundance
A life of abundance
How to Attract Abundance
Watch David Childerley
Key Advice on becoming financially healthy
Manage FEAR and GREED
Have a Financial Fitness Plan
Start with a Fitness Plan
Oh yes, a work plan. Did I say, just imagine it and Kazammmm!!!!! all of a sudden you become wealthy and healthy? Not on your nellie! You really need to learn how to re-orient your mind and get focussed on the target. Train yourself. If you take on the role of a trainer, you learn the lessons much better. Independence and confidence in handling money is key to having a healthy financial outlook. This should have been taught in school as the most important part of Economics but it never is. Build a fitness plan. First, list down the things you need to know to understand your finances better. What is a mortgage and how does it work? Bonds and stocks, ETFs, Mutual Funds, Dividend Reinvestment Plans? You can master all of these easily. Ask your bank for answers. Read. Google the weird acronyms. . Ask other people what they know about finance. Ask them how they manage their own finances. Maybe, they have some tips to share with you. You will be surprised at how much you'll learn. But most of all, keep that vision of your life after hitting the health-wealth target.
Once you have most of the information, start a basic plan. Identify your financial goals. Vagueness is a No-No. Clarity is everything. Your goals are the things you need to achieve so you can declare yourself financially healthy. You may just have a board where you put pictures of your goals. Having visual images will help make it clearer for you. Look at this each time you have a chance so it must be strategically placed where you can see it often. Let it inspire you to take the necessary steps to achieve those results. That is important. Identify the steps to see those dreams come true.
A Personal Financial Plan
Have one?
Are you on target with your plan?
How is your progress?
Are you interested to have a financial plan that works?
Towards becoming financially healthy?
May the angels of Love, Glory and Wealth visit you in your dreams
And bless with wealth and health
Giclee Print">The Dream: "In His Sleep He Saw Love, Glory and Wealth Appear to Him," 1883
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How to Become Financially Healthy
A Full time Activity
Yes, this is a must. If you're lazy, this is a killer! The mental hammock swingers bail out at this point. They give it up to banks, money managers or financial trusts. Many are folks that haven't a clue. Or, they would be wealthy themselves, not nipping off pieces of your money as a charge! Sorry, there are really good ones. These people can contribute by providing some technical services and product info.
But wealth creation is a hands-on activity. Get in mental shape and then play the game yourself. It's good to consult a coach and get advice but you have to be the archer.
The How to of Financial Health
Learn how
You need to learn how. Some say that to world class at anything takes 10,000 hours of practice. Hmmmmmm. OK how about city class or block class!!! Take it step by step. First, take note of how much you earn and how much you spend. It is very simple to have 2 columns. First column is for money coming in. Second column is for money going out.
List down recurring expenses such as mortgage, rent car payments, insurances, grocery bills, utilities, education, clothing, gifts and others. After one month, you will have an idea of how much you spend each month. Put down the costs for items in your list that are fixed. For those where you have options, estimate the amount you are comfortable with. If you have a partner, you must do this together. If you want to involve your kids, this is a fine opportunity to start educating them. Remember, the schools will NOT.
After 3 months, see if your expenditures to earnings pattern shows responsibility. What this means is, you do not spend more than you earn. If you do, review your budget and make changes. Yes, it's difficult. Yes, it's called self discipline and yes, it's what our grandparents did constantly!
OK. The bow is up, the arrow is on the bowstring. Maybe, a small $100 per month arrow but it is ready for launch at the target.. Start with this. Save half and enjoy half so you can kick start your health-wealth and you still have a life.
Financial Health Requires Good Money Management
Some useful books
Read what people are sharing
On money management
- JKMilne Asset Management Ranks in Lipper's Top 20 Money Managers of 2011
- Fort Myers, Feb 22, 2012 (GlobeNewswire via COMTEX) -- JKMilne Asset Management in Fort Myers, Florida, has earned recognition once again in the Lipper Best Money Manager 2011 rankings, announced chief executive officer John K. Milne.
- Improving money management skills 'a real imperative'
- Improving their money management skills has become a real imperative for households throughout the country, says Think Money. The financial solutions company made the comment in response to figures indicating that one in five people need every penny ...
- The End of Business as Usual
- Money Management is the professional's independent adviser, winning 50 awards over the years. It contains the renowned Money Management fund statistics, unique surveys and much, much more. Each of our publications publish numerous special reports ...
- Aegon appoints Logica to support auto-enrolment hub
- By Asset Class By Product By Region Money Management is the professional's independent adviser, winning 50 awards over the years. It contains the renowned Money Management fund statistics, unique surveys and much, much more. Each of our publications ...
Share your gifts of money and wealth
Choose these
Creating financial wealth in multiple ways
Engage yourself in multiple ways
Yes, sticking to just your main income if it supports all your needs is fine. But if you're reading this, my guess is that there is a serious gap between income and your health-wealth vision. Having extra money can make life a lot more fun if it's castles and not fortresses that you want. . So why not? Why not squidoo? Why not adsense? Why not Amazon? If you have read up til hear, you know you can become what you vision. Cleanup your vision...do the digging...and let's go with that extra income.
With the internet, many options are now open to earning money for anyone prepared to do the work. Of course you need to learn new skills. Get out of that comfort zone and sagging mental hammock and start engaging yourself in something you have never done before..or finding a new angle on something you're already good at. . Do something you enjoy and are passionate about. Before you know it, money will be knocking at your door. People will ask you to share with them your know-how. Magazines will want you to write something on what you are doing. Just start and get yourself surprised. If you need inspirational literature, there are thousands of stories that back up the central notion...you will become what you dream. Rent the movie.. The Secret.... as quick starter kit. Look at the Google Ads around this Lens and just see what is possible.
Books on Multiple Income Streams
Read even just one
Multiple Streams of Income
What others are saying
- Think multiple streams of income to meet your financial needs
- Experts say for you to meet your financial obligations and protect your little income, there is the need for you to create multiple streams of income. Sam Ohuabunwa, national president, Nigerian-American Chamber of Commerce, who spoke to participants ...
- Shrink's Guide To Self-Publishing (part 1)
- Stephanie's passion for counseling and develop multiple streams of income, like offering online counseling and webinars, and self-publishing her first book are impressive. For all of you shrinks who've been thinking about writing a book, ...
- Making income come your way
- He's joined by his wife and business partner, Jennifer, to discuss ways to create additional revenue. ?I believe that it is vital in this current economy for you to cultivate multiple streams of income,? he writes. ?Life is filled with uncertainties.
- Emerson Electric Likely to Stage a Comeback
- Keeping in mind that the company does have a well-diversified business with multiple revenue streams, I decided to take a Foolish look to see if Emerson is a good long-term bet. Emerson's quarterly sales fell to $5.31 billion, a 4% decline when ...
Create financial health by investing your Money
Start early
You must have seen those graphs that showed had you invested a $1000. when you were in your twenties, you would be wealthy by the time you reach the home stretch. True. The earlier you start, the more your gains..the joy of earning interest on interest on interest (compounding)But this is not the time for coulda/shoulda/woulda! This is the time to start. Open an investment account with your bank. Tell them to take $50 out of your chequing account every week or month.and put it to a savings account. Then when you have the minimum required you can take action. Don't wait until you have a thousand. Look for companies with Dividend Reinvestment Plan (DRIP). Choose only those companies that allow you to buy shares directly from them without broker fees. Choose the ones with higher dividends that are not in a business that might go bankrupt anytime. Big banks, big manufacturers, major consumer product companies, Buffet likes railroads and insurance companies. Of course, there is always a risk. Just minimize it. Why higher dividends? Because these dividends buy new stocks for you and if you keep at it, before you know it, you are the proud owner of a hundred shares, then, a thousand, and so on....and at the same time, the stocks should increase in value...a double win.
Get your vision clean...get the health-wealth attitude firmly in your mind. Then start learning step by step all the different options open. Check a web site on investing. Everyone wants to help you do better. Shoot several arrows. Then, slowly build your portfolio. As you learn more, review and revise your portfolio. Diversify your holdings (buy other stuff). Just keep doing this until all your goals have been reached. Then, time to enjoy. Some people make sacrifices and never become comfortable in enjoying their wealth.
So, don't wait until the end. Part of your investment is forming yourself to enjoy your wealth. As you gain more, reward yourself. The more you enjoy, the more motivated you become. If you teach your children these rules and help them get the health-wealth vision, you've done your job in the family. Enjoy your castle, you built it. Let them build theirs.
Learn the basics of investing
To enhance your financial health
Learn to Earn: A Beginner's Guide to the Basics of Investing and Business by Peter Lynch, John Rothchild
"Public companies are everywhere, and they surround more...0 points
The Elements of Investing by Burton G. Malkiel, Charles D. Ellis
A timeless, easy-to-read guide on life-long investment more...0 points
Essential Finance Series: Investing Basics by Adam Shaw, Marc Robinson
Make smart decisions without being an expert. Learning more...0 points
The Basics of Investing by Benton E. Gup
Written for students and business neophytes alike, more...0 points
ShareBuilder Basic Investor Starter Kit
For people who want a simple way to start investin more...0 points
Beginners Guide To Stock Market Investing by Douglas Cooper
If your new to stock market investing and want to more...0 points
A Primer On Investing For Beginners: A Complete Guide To Investing With Basic Coverage On How To Invest And What To Invest So You Can Learn Important Investing Basics For Successful Investing by Mark O. Landeau
Many people not financially skillful tend to think more...0 points
Investing and Insurance (Money Life Basics) by Crown Financial Ministries
Investing and Insurance Investing Insurance Trust more...0 points
Investing Essentials by Virginia Morris, Kenneth Morris
If you're ready to start investing, but need to learn more...0 points
Basic Principles Of Conservative Investing by Rich Brott
Investing can be very complicated or very simple. more...0 points
Investing Basics (Essential Finance) by Adam Shaw
Learn how to set investment goals, develop strateg more...0 points
The Wall Street Journal Guide to Understanding Money and Investing by Kenneth M. Morris, Virginia B. Morris
The Wall Street Journal Guide to Understanding Money more...0 points
The Wall Street Journal Complete Money and Investing Guidebook (The Wall Street Journal Guidebooks) by Dave Kansas
Unravel the Mysteries of the Financial Markets-the more...0 points
Basics on Investing, Financial Markets and Financial Planning by JD, MBA, CWM George Mentz
A 100+ Page treatise and compilation of informatio more...0 points
Lenses that are worth reading
In you are serious about becoming financially healthy
Here are bargains for your financial education
Investment
Books to Kickstart your investment
Steps toward Financial Health
Lessons from Experience
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1
Take risks. Take a step outside of your comfort zone. Each time, your confidence and knowledge increases. Take another and another. You will be surprised after a series of steps how far you have gone. Your confidence is tied to your competence. Your success is tied to your health-wealth vision.
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2
When you have a partner, do your financial work plan together. Your health is determined by your support for each other. Take the steps together. Wait for each other. Lead, show the way if you know more. You will have different risk tolerance. Be aware. Fear and greed are the big bugbears. Maybe one manages fear and one manages greed. There is always room for each other's strength. And when you do this, you both get stronger as you learn from each other. Am I making this sound so easy? It is not. The struggle will be there. It is part of the growing process.
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3
Take the steps shown above . I have seen many people who plan and plan and learn and learn but it stops there. They never shoot the arrow. They just stand their, poised, frozen. Half of them are teachers. The others have not made their vision strong enough to overcome their fear. They know lots about investment, about creating wealth but it stops there. Take the step, one at a time.
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4
Discipline yourself in simple budgeting. Always spend less than what you earn. It's time for us to move from being obsessive consumers into being thoughtful savers. There are many things you can do to have fun in life that do not involve spending money you do not have. Do you really need that $400 purse? Or that $2,000 pair of shoes? Burn your credit cards...well maybe that's a bit serious...but we all made the financial crisis we are in by spending way more than we earn. Only the credit card companies got rich as we paid 18% more for everything!
Get smart. Get rich.
Some books to help you become financially healthy
Read and open your mind
How did you become financially healthy?
Share some of the things you did
We all have our own experiences in this area. Share some of those you think will help our readers here. Thanks.
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SereneSea
Nov 4, 2011 @ 10:50 pm | delete
- Planning early is key to financial freedom.
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wealthmagazine
Apr 7, 2011 @ 2:20 am | delete
- Having a plan is probably one of the more important things with being financially healthy. Without a plan who knows where you'll end up! Get a plan and be amazed at what you can do and accomplish!
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aLundy
Oct 20, 2010 @ 10:01 pm | delete
- good stuff. thanks
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nort43
Sep 23, 2010 @ 8:47 pm | delete
- There is always some luck involved...but generally I think we make our own luck....in money health and personal health. If "mot men lead lives of quiet desperation", then this comes out in everything thet do.
Think, read, take a few risks, play....this is NOT a dress rehersal...it's all you get.
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awakeningwellness
Aug 23, 2010 @ 11:38 pm | delete
- It is so important to keep your focus on what you want rather than the lack of it...that is easier said then done though...thanks for the info!
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And how to take charge of your own money
Read this book
It has helped me a lot.
5 Steps to Developing A Millionaire Mind: A Broke Man or Woman's Guide To Wealth
Amazon Price: $7.77 (as of 02/23/2012)
While we maybe convinced of the change, sometimes we need some concrete steps. We need to see how others did it so we get inspired. Read more on this topic. Start with this book. Start being financially healthy.
