INSIDE THE BOOK
What you will learn in Chapter 5:
1. Once you create your financial foundation (budget), you will see that you have secured your lifestyle.
2. Remember, there are things about you and your family that are so different from anyone else’s household.
3. In your household, what you eat each month is probably the most consistent thing that you do.
4. Your personal care, monthly entertainment and that cable service makes you comfortable in your home.
5. You should devalue the quality of living for your household.
6. Think about it, your financial foundation (budget) consists of everything that runs your home, secure your family and provide a way of life.
7. The fact that your financial foundation (budget) allows you to prepare for the future also allows you to forecast how much money you will be able to save for important things like your retirement.
8. Being debt free is not a part of our focus.
9. Being poverty minded is the major factor that stops you from accumulating wealth and thinking positive in the terms of wealth accumulation.
10. Moving from a poverty consciousness to a wealth consciousness can be a never-ending challenge to transition from your old lifestyle to your new.
11. Just as you plan a fun vacation, you plan a fun retirement planning party.
12. Whatever the balances are on the plan creation date, continue to use that balance amount.
What you will learn in Chapter 6:
1. Preserving your way of life requires you to evaluate the reason that you must save.
2. It is not optional. Saving is and should be an absolute part of your daily life.
3. Approach savings in an Action Influence way.
4. The real goal is establishing financial independence.
5. Savings alone will not produce wealth.
6. If financial independence is your goal, it must have some form of diversity.
7. It is important for you to identify your savings as long-term savings.
8. By having the long-term savings, they are learning to expect the unexpected.
9. A minor financial setback should not turn into a major financial crisis.
10. You should have a household savings account that would serve as medium to long-term savings.
11. Start saving every remaining penny.
12. Action Influence shifts the mentality from poverty to wealth.
13. The whole purpose of creating a financial foundation (budget) is to secure life.
14. Creating a debt repayment plan will help to identify and eventually free up financial resources to save for the future.
15. Something may happen, but the biggest thing that should happen is your new course of Action Influence.
16. Stay on the path of wealth consciousness.
17. The ability to see what you can accomplish with your money and secure your household at the same time is priceless.
What you will learn in Chapter 7:
1. Risk is a wealth mentality rather than a poverty mentality.
2. Reliance on non-traditional forms of finance and micro-finance often associated with disadvantaged and the poor.
3. Pre-Paid cards do not help you build financial independence.
4. Always seek to get a return on your money.
5. The amount of return is based on the measure of risk.
6. The higher the risk, the greater the return; or, the lower the risk, the lower the return.
7. A common approach to evaluating the risk of an asset involves estimating the pessimistic (worst), the most likely (expected), and the optimistic (best) return associated with a given asset.
8. The creation of a portfolio by combining two or more assets that behave exactly opposite can reduce the portfolio's total risk.
9. You must change your view about your finances.
10. Play this same G. A. M. E. (Gaining Assets Manage Effectively).
11. You can and W. I. N. (Wealth Increasing Now) at it.
12. When money is being made due to risk, rather up or down, it creates an earning environment that must also become your environment.
13. You can reach your entire goals to financial freedom by using the banking system.
Quotes and Facts from the Book.
Action Influence allows you to really see all of the benefits of saving money. By observing patterns in your own life when it comes to handling money, your financial decisions are sharper.
This is how you are going to define your own purpose to financial security. Financial security is an admirable goal, the Action Influence that you take makes it achievable.
“Controlling your savings and investing creates the environment that your spending is choked off. - Rob Wilson”
Determine the financial impact of all decisions made. Focus on providing a way of life for you and your family first.
“It doesn't matter how you start, it matters how you end! You either live by default or design!” -Bishop Dale C. Bronner
Research has shown that it is rarely luck, inheritance, advanced degrees or even intelligence that enables people to build wealth. It is more often hard work, thorough planning, persistence, and most of all self-discipline that gets the job done.