Financial
education
The greatest lesson I learned about
money many years ago was to stop spending time and money and start investing
time and money. Money is a blessing, a tool at our disposal to bless others.
We must take full control of our personal
finances if we want a shot at living an abundant life. Applying the three overriding principles of wealth
creation (long term thinking, delayed gratification, and the power of
compounding) is paramount to financial success.
1.
Understand and respect money. Know the defense, offense, and the rules of personal
finance. Invest and compound time and money. Above all else, invest in yourself.
Money always follows excellence.
2.
Have a financial action plan. We don’t get what we deserve, we only get what we
define, plan, and take action on.
3.
Live within your means. Follow a budget. Spend less than you make and make
more than you spend. Always look for ways for reducing expenses and increasing
income.
4.
Eliminate all forms of debt. Create new spending habits. Follow a debt payment
roll-down plan.
5.
Grow your net worth. Diversify your sources of income. Accumulate skills and money will
follow. Invest in a proven business system. True
financial security is not developed until we develop income from business
systems.
6.
Get full control of finances. Understand how money is created and kept; follow the
money flow. It does not matter where the money starts, it matters where the
money ends.
7. Be generous
with your blessings. Share your
blessings with others. Learn and share, share and learn. When we help those in
need our blessings are compounded.
Thank
you for reading and reflecting on today’s nuggets. Share them with others.
We make a living by what we get;
we make a life by what we give. Be a giver in a world of takers.
Be blessed and be a
blessing to others.
Carlos Fontana, President of Phalanx
Co-author of the book Follow to Lead (The 7 Principles to Being
a Great Follower)
Author of the book PRICELESS (Sixty-Six Simple
Stories of Reflection, Love, and Legacy
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