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Saturday, October 2, 2010

Utilizing the Law of Attraction for Money Purposes


HOW TO ATTRACT MONEY INTO YOUR LIFE USING THE LAW OF ATTRACTION

The craving for abundant money is a universal longing. This is because all acquisition is a function of money. Many have searched for ways to acquire money and to multiply it for generation yet unborn. In their quest for money many have ended their lives in more confusing and frustrating situations.

How to attract money into your life using the law of attraction. It is my aim in this article to offer you one of the most reliable ways to attract money. You can attract money into your life using the law of attraction. Recently there has been an explosion of discussion regarding the Law of Attraction. If you are not familiar with the concept, it is actually quite simple. It is based on a fundamental truth:

Positive attracts positive and negative attracts negative. In other words, you will receive good things or bad according to what you focus on.

If you focus on the positive things in your life, then more positive things will come your way. If you spend your time and energy focusing on the negative, then you will attract more negative things. You will spend all your life majoring in minors at the expense of your majors. This is one of the many reasons why many people you know today never get rich. They are book smart, but cannot acquire more than a squalid lot, because they know are working against them instead of for them.

You can use these principles to harness the power of the Law of Attraction to attract money into your life.

Strategies for attracting money:

1. Express gratitude: The first strategy for attracting money is gratitude. The grateful heart shall receive more.  If you want more of something, like money, you must first express gratitude for what you have presently. Gratitude is a powerful positive emotion. Be thankful for all that your Creator has provided you this far. You may not have all the money you want to live a comfortable life, but be grateful for the little you have been given. Yes! You may not be where you want to be but you are not where you use to be; there is a little progress. You must be grateful for that little progress so that you can more resounding progress. You must be sincere in your thanks. If you do not honestly feel the gratitude, then you will not be able to attract more money or any other thing that you want.

Stay focused on what you do have. Remember, if what you feel and focus on is actually your lack of money, it will only attract more lack back to you. But on the contrary, if what you focus on is to sincerely offer thanks to God for giving you life, he shall invariably give you other things that you need which you did not request for.

2. Picture yourself with the money: Visualization is a powerful weapon of attracting wealth. What you visualize, you actualize. Visualize it in depth, as if you already have it. See yourself holding the money, touching it, and feeling how happy you are with it in your life. Imagine sitting down paying all your bills and buying expensive gifts for those that you love. This will send a positive message out that is to be returned to you in good measures.

Be consistent with sending out these strong positive thoughts and feelings. Mixing it up with negative ones about money will definitely send a conflicting message. This will them make money to avoid you. Those with negative mentality about money, money does avoid like a plaque, but those with a positive disposition, surely becomes money magnet.

3. Rid yourself of negative thoughts. It is imperative that you eliminate as many negative feelings as possible. Make a conscious effort to find the positive in everything because your negativity will not be rewarded with positive results. Are there others out there who are positive? You bet! Do your best to find and emulate these people.

When life hands you a bunch of lemons, it is time to make lemonade. Find the silver lining or take action to make something positive out of the situation.

4. Have Faith. There are countless documented cases of people who received their heart's desire by using the principles found in the Law of Attraction. Those people are no different from you!  Faith is a positive feeling. If you truly want to attract more money into your life, then faith is a must. You have to believe deep down that something like this can and will happen to you. It is time to truly believe that you are deserving of anything you desire. For more information on faith, see ‘the motivating power of belief’.

The Law of Attraction has helped many people live their dreams. By following its simple principles, it can happen to you as well. Profess an open mind, a willing heart, and a joyful spirit and, in return, you will be rewarded with whatever you request!

You shall reap whatever you sow, whether good or bad, small or big.

See you at the top! Make and attract more money!

Developing and Building Workplace Leadership

Practical steps for goal actualization
THE PROCESS OF DEVELOPING AND BUILDING WORKPLACE LEADERSHIP

The process of developing and building workplace leadership is a much needed Leadership Skills which has now become an exceptional tool for organizational growth and excellence. Therefore, it is imperative that we understand how to develop and build workplace leadership.

Dare to Become an Exceptional Leader

Do not be conditioned the old-fashioned view of leadership which induce men to believe that leaders are marked out for leadership from early on in their lives, and that if you are not a born leader, there is little that you can do to become one. That is not true. The truth is that everyone has the seed of leadership inherent in them, and this can be developed and maximized. Through patience, persistence and hard work, you can be a truly effective leader, just as long as you make the effort needed.
The aim of this article is to help you develop your leadership skills so that you, too, can become an exceptional leader. By learning the lessons thought by great leaders you can help to develop the leadership potential in you. Let us briefly examine the life Abraham Lincoln and see how he emerge an eminent leader through the application of persistence, hard work, knowledge acquisition, faith and wisdom.
 At the age of seven, Abraham Lincoln and his family were forced out of their home. The boy had to work to support his family. At the age of nine, his mother died. When he grew up, the young man was keen to go to law school, but there was no finance to enable him carries out his ambition, so he ended up having no formal education. However, this did not stop him from persisting in his effort to make his life count. Those who desire a better life always fight for it, and they eventually have it.
At the age of 22, he lost his job as a store clerk. At age 23, he ran for state legislature and lost. The same year, he went into business. It failed, leaving him with a debt that took him 17 years to repay. At 27, he had a nervous breakdown. All these failings instead of slowing him down, gave him great momentum for greater achievement.
Two years later, he tried for the post of speaker in his state legislature. He lost. At the age of 31, he was defeated in his attempt to become an elector. By age 35, he had been defeated twice while running for Congress. Finally, he did manage to secure a brief term in Congress, but at 39 he lost his re-election bid.
At the age of 41, his four-year-old son died. At the age of 42, he was rejected as a prospective land officer. This seems to have tragedy trailing him. He was always confronted with failure not because he wanted to fail or he had imagine he will fail, but because failure wants him, so that he will not be able to achieve his purpose. The more trouble and failure becomes his companion, the more he frustrated frustration with his bulldog determination for the top. He refused to settle for second best when he knows that the best is achievable.  At the age of 45, he ran for the Senate and lost. Two years later, he lost the vice presidential nomination. At the age of 49, he ran for Senate and lost again. I know most of his childhood friends may have discouraged him, but he persisted because he knew that there lies ahead of him a greater glory. H e gathered all he needed to learn and began to read and absorb knowledge. When his friends asked him why, he said “I will read and prepare myself for one day I know my turn will come” and his time and turn actually came. There is a time for everything. There is a time to loose and a time gain. .

Finally, at the age of 51, he was elected the President of the United States of America. He gave his country and the world the best and desirable in him which he had spent years developing with every pain, failure, criticism he experience, and knowledge he had acquired over the years. His years of study paid him a handsome reward.

Many of us are acquainted with this eloquent example of persistence and determination in achieving victory. We read it, stop for a moment and then sigh and say: “Great! That is the stuff real leaders are made off.”And in saying this, it is all too easy for us to think about leaders like Lincoln almost as “mythological creatures”, separate from the rest of humanity and empowered by some mysterious quality that smoothes their path towards inevitable success. This is the view of leadership that many people have traditionally taken: Leaders are marked out for leadership from early on in their lives, and that if you are not a leader, there is little that you can do to become one. The modern view is that through patience, persistence and hard work, you can be a highly effective leader.
Everyone has leadership qualities inherent in them. The problem is that most people feel they do not have it. And because they think they do not have it, they fail to explore their lives and discover and nurture the great leadership potential in them. This potential was placed in there by your creator to make you unique and outstanding. It is my aim in this article to lead along the part that will help you locate and nurture these leadership qualities inherent in you. Let us begin by finding out what leadership actually is.

WHAT IS LEADERSHIP?

Leadership means different things to different people around the world, and different things in different situations. For example, it could relate to community leadership, religious leadership, political leadership, and leadership of campaigning groups. However, this article focuses on the unique model of individual leadership, and relates to workplace leadership rather than to other types.
The word "leadership" can bring to mind a variety of images. For example:
  • An army officer, charging forward to meet the enemy.
  • An explorer, cutting a path through the jungle for the rest of his party to follow.
  • An executive, developing her company's strategy to remain ahead of the competition.
According to Dwight D. Eisenhower, Leadership is the art of getting someone else to do something you want done because he wants to do it.
Professor Warren G. Bennis, defines Leaders as people who do the right thing; and managers as people who do things right.


Leaders help themselves and others to do the right things. They set direction, build an inspiring vision, and create something new. Leadership is about mapping out where you need to go to "win" as a team or an organization. Leadership is dynamic, vibrant, and inspiring.
More so, it is imperative to understand that while leaders set the direction, they must also use management skills to guide their team to the right destination in a smooth and efficient way.

Tips:
The words "leader" and "leadership" are often used incorrectly to describe people who are actually "managing." These individuals may be highly skilled, good at their jobs, and valuable to their organizations – but that just makes them excellent managers, not leaders. So, be careful how you use the terms, and do not assume that people with "leader" in their job titles, people who describe themselves as "leaders," or even groups called "leadership teams," are actually leading.
The danger in these situations is that people or organizations that are being managed by such an individual or group think they are being led; but they are not. There may actually be no leadership at all, with no one setting a vision and no one being inspired. This can cause serious problems in the long term.
In this article, we will focus on the process of leadership. In particular, we will discuss the "transformational leadership" model. This model highlights visionary thinking and brings about change, instead of management processes that are only designed to maintain current performance.

Definition

According to the idea of transformational leadership, an effective leader is a person who does the following:
1.     Creates an inspiring vision of the future.
2.     Motivates and inspires people to engage with that vision.
3.     Manages delivery of the vision.
4.     Coaches and builds a team, so that it is more effective at achieving the vision.
Leadership brings together the skills needed to do these things. We will look at each element in more detail.


Creating an Inspiring Vision of the Future
An effective leadership is that which creates an inspiring vision of the future. In business, a vision is a realistic, convincing and attractive "best case" description (picture, illustration, depiction, delineation, drawing, portrayal and interpretation) of where you want to be in the future. Vision provides direction, sets priorities, and provides a marker, so that you can tell that you have achieved what you wanted to achieve within a given space of time.

To create a vision, leaders focus on an organization's Strengths by using tools such as Porter’s Five Forces, PEST Analysis, USP Analysis, Core Competence Analysis and SWOT Analysis to analyze their current situation. They think about how their industry is likely to evolve, and how their competitors are likely to behave. They look at how they can innovate successfully
, and shape their businesses and their strategies to succeed in future marketplaces. They also test their visions with appropriate market research, and by assessing key risks using techniques such as environmental or Scenario Analysis.  
In the light of the above, leadership are proactive (practical, positive, down – business, problem solving, looking ahead, and not being satisfied with things as they are.

Once they have developed their visions, leaders must make them compelling and convincing. A compelling and motivating vision is a vision
that people can see, feel, understand, and embrace. Effective leaders provide a rich picture of what the future will look like when their visions have been realized. They tell stories, and explain their visions in ways that everyone can relate to. Effective leadership therefore, combines the analytical side of the vision with the passion of shared values, creating something really meaningful to the people being led.
Motivating and Inspiring People
Effective leadership motivates and inspires people to put in their best to achieve a corporate and personal goal. Although a compelling vision provides the foundation for leadership, it is the leader's ability to motivate and inspire people that will help them deliver that vision. If the leader cannot motivate his team, his vision will not be realized, irrespective of the potency of his vision.

For instance, when you start a new project, you will probably have lots of enthusiasm for it, so it is usually easy to support the project's leader at the beginning. However, it can be difficult to find ways to keep the vision alive and inspirational, after the initial enthusiasm fades, especially if the team or organization needs to make significant changes in the way that they do things. Leaders recognize this, and they work hard on an ongoing basis to connect their vision with people's individual needs, goals, and aspirations.

One of the key ways they do this is through Expectancy Theory
. Effective leaders link together two different expectations:
1.     Hard Work Orientation: The expectation that hard work leads to good results.
2.     Good Results Mentality: The expectation that good results lead to attractive rewards or incentives.
This motivates people to work hard to achieve success, because they expect to enjoy both intrinsic and extrinsic rewards as a result.

Another way effective leaders motivates their team is by restating the vision in terms of the benefits it will bring to the team's customers, and taking frequent opportunities to communicate the vision in an attractive and engaging way. They engage all productive avenues to ensure that their goal is achieved.

It is very much helpful if the leaders at this point can draw upon extra source of expert power. People admire and believe in these leaders because they are expert in what they do. They have credibility, and they have earned the right to ask people to listen to them, and follow them. This makes it much easier for these leaders to motivate and inspire the people they lead. But if on the contrarily leaders lack some sort of specialize knowledge that can be beneficial to their organizational goals and personnel development, they will be left alone. People will gladly follow a leader who has something to offer.

Leaders can also motivate and influence people through their natural charisma and appeal, and through other sources of power
, such as the power to pay bonuses or assign tasks to people. However, good leaders do not rely on these types of power alone to motivate and inspire others. They live by examples. They will be involve and help to fulfill organizational goals and personal development of all employees.
Managing Delivery of the Vision
This is the area of leadership that relates to management. According to the  Hersey-Blanchard Situational Leadership Model, there is a time to tell, a time to sell, a time to participate, and a time to delegate. Knowing which approach you need to use, and when you need it, is key to effective leadership.

Leaders must ensure that the work required to deliver the vision is properly managed – either by themselves, or by a dedicated manager or team of managers to whom the leader delegates this responsibility – and they need to ensure that their vision is delivered successfully within the stipulated time frame. In order to fulfill this task, team members need performance goals that are linked to the team's overall vision.
Change effectiveness is also one area that leaders must ensure that they manage effectively. This will ensure that any changes required to deliver the vision are implemented smoothly and thoroughly, with support and full backing from the majority of people affected.
Coaching and Building a Team to Achieve the Vision
Coaching the people who delivers the vision is fundamental to building effective leaders. Individual and team development are important activities carried out by transformational leaders. To develop a team, leaders must first understand team dynamics. Several well-established and popular models describe this, such as Belbin's Team Roles Approach and Bruce Tuckman's Forming, Storming, Norming, and performing theory. A working understanding of the wisdom advocated by these models will go a long way to make your leadership effort a fruitful one.

A leader must ensure that team members have the necessary skills and abilities to do their job and achieve the vision. They do this by giving and receiving feedback on a regular basis
and also by training and coaching the people who delivers the vision. This also helps in improving individual and team performance. As a leader it is your fundamental responsibility to look out for leadership potentials in others. By developing leadership skills within your team, you create an environment where you can continue success in the long term. And that is a true measure of great leadership.

Fundamental Key Points to Remember

Conclusively, I want you to remember that Leadership can be hard to define and it means different things to different people. 

In the transformational leadership model, leaders set direction and help themselves and others to do the right thing to move forward. To do this they create an inspiring vision, and then motivate and inspire others to reach that vision. They also manage delivery of the vision, either directly or indirectly, and build and coach their teams to make them ever stronger.

The process of developing and building workplace leadership is an exciting journey, not a destination. It requires constant effort of training, knowledge acquisition, faith and persistence in the direction of purpose. There is a seed of leadership in everyone, and this can be developed through persistence, hard work, study and wisdom. Do not settle for less when you can actually be the best. There is something unique in you. You are not in any way inferior to anyone. Those who are successfully moving ahead in life today are not borne with supernatural abilities uncommon to the ordinary man. They are ordinary people who achieve extraordinary feat by doing ordinary things in an extra ordinary manner. Believe you can be the best. Believe you can give your best. Believe you can live your best. When
Do not refuse to commit yourself to personal development. Your potential can only mature and make you outstanding by constant use. Give your life everything that is required to make you thick. Give yourself to study. Prepare yourself and one day you will come in contact with great opportunity to establish and manifest your uniqueness. When opportunity meet preparation freedom becomes inevitable. Those you see today have great leaders have spent years preparing themselves in their chosen field of endeavor. You too can do same and one day you emerge a mighty force to be reckoned with. Commit yourself to excellence, and your life will never again remain in the common place of drifting and insignificance. Relevance will embrace you like a magnet, and your generation will be glad for your having lived.
For more inspiration articles, take your time to explore this blog. Your life will never remain the same after spending some few hours with me in this blog. 
 See more related articles:
  1. Practical steps for goal actualization
  2. How to achieve Organizational goals
  3. How to be crazily Innovative
  4. How to achieve Organizational Growth
  5. Effective Strategies for getting more things done
  6. The Principles of Extra Ordinary Achiever
  7. Positive attitude of Extra Ordinary Achievers
  8. Personnel Intelligence

If this article has been of great help to you, please do not hesitate to post a comment, and share your experience with me.
See you at the top!

REASONS WHY MOST PEOPLE DO NOT GET RICH


The craving for the accumulation of riches is resident in everybody, but most people will find it difficult, and at worst will never be rich because they fail to seek wealth the right way. According to Wallace Wattles, in his popular wealth treatise called the Science of Getting Rich, "There is a science of getting rich, and it is an exact science, like algebra or arithmetic. There are certain laws which govern the process of acquiring riches, and once these laws are learned and obeyed by anyone, that person will get rich with mathematical certainty."
This is a fundamental statement that is loaded with truth. Those who are wealthy know that it comes about by application of simple rules and principles. Those who do not make wealth do not know about these simple things, and so they assume that wealth is a result of luck or pure chance or something just as superstitious.
One of the top pragmatic success coaches in the world is Anthony Robbins. He has coached star sports players, heads of states and Fortune 500 executives. In his Get The Edge program, he listed down 12 specific reasons he has come to observe to be the leading causes for most people's lack of financial worth. Here they are:
1. They never decide and really define, very specifically, what wealth means for them. These people though longing for wealth do not really define what they need specifically. The keyword here is specifically. You can imagine how hard it would be to build a car or a plane without making a blueprint or sketch drawings of it first? You have to know what your target is before you go chasing after it. If you want to be rich you must be specific of how much riches you need.
2. They make wealth a moving target instead of a fixed one (this is related to point one above).Those who cannot discipline themselves to maintain a truly fixed target for wealth cannot be rich. Once you have your target, fix it. Do not change it until you reach it. You must accomplish and celebrate each step, and then set course for a new step, and a new target.
3. They define riches in a way that seems unreachable. People who dream of riches, but do not believe that they can actually be rich can never be rich. For a man can only achieve that which he believes is achievable. You only achieve what you believe. No more, no less. So you must make wealth accumulation a believable achievement for you. Set goals that will make you move forward and stretch, but not too high that even you yourself do not believe you can. Take the biggest step you believe you can, achieve it, then take the next biggest you believe you can. This will build positive reinforcement in your self-confidence as well.
4. They never start. If you keep thinking about trying to create wealth and do nothing meaningful to help you achieve it, it will forever remain in the thought level. You have to act! Good wishes are fantastic, but until you step out in faith to actually do something now, it will never help you to accumulate wealth. Start somewhere, anywhere! Only after you start do you begin to get some feedback which will help you plot your course better. The aircraft has to first take off before it starts to adjust course for its destination. You must start, somewhere, anywhere, it does not matter where and how, just start! Act now!
5. They never make it a must. Let me explain what it means to make it a must. It means marshalling all your intent, your will, your direction, into one singular flow that is directed towards your goal. All obstacles are viewed as challenges to be overcome. You will meet obstacles, and so expect it, but also expect to move forward anyways. Use your obstacles to develop strength and skills, do not run away. Find out how to go past them. Find out! There is always a way, always. And if your emotions are acting against your desire, embrace them, learn what they are, know yourself, but keep moving forward. Make it a must, and it will happen. You do not know in how many steps it will take, but you know it will happen.
6. They do not have a realistic plan. Those who fail to make money, do so because they lack a realistic plan. Wealth creation does not answer to frivolous plans guided by fantasies, but they only answer to realistic plan.  If you want to do something, find out how it is done from someone who has done it before. In the same manner, if you want to be rich find out from those who are rich. Read their books listen to their tapes, and follow their plans, and one day you too will become rich.  Make a realistic plan. Take example from those who have succeeded before you. But do not throw away your intuition. Your intuition is extremely powerful once you learn how to listen to it with practice.
7. If they have a realistic plan, they never follow through on the plan. Some folks, who fail to get rich, do actually have a realistic plan, but their problem is that they fail to persistently follow their realistic plan. They give up easily when they are confronted with temporary challenge. Well, if you do not follow the plan, who will?
8. They give responsibility to others ("experts") instead of to themselves. This is a subtle but serious reason why people never get rich. They are specializing in giving their responsibility to others, and move on to pleasure. This way, they never really learn how to do it, and if there are failures they never learn why the failures happened and so they are bound to repeat them. It is a good idea to get advice, but do it yourself. At least understand it yourself even if you will delegate the actual doing. Those who are fund of giving their responsibilities to others have deliberately handed over the future of their financial standing in the hands of those who may not have the desire to let them succeed. This is an error that needs immediate correction if you must be rich.
This kind of people can spend huge sum of money to set up a business, but they will never be there to do the business. They never see the need to learn how their own business runs. They can talk big, but their small action often betrays their quest and cravings for riches. The fact that you can employ workers to run your business does not mean you should live your primary responsibility of running your business in the hands of your employee. Delegate responsibilities, but endeavor to monitor your business. This will enable you to know how to run your business. In case those expert that you so much relied on decided to stop work, you stream of income will stop flowing.
9. They give up when they face challenges. Going through the challenges is what has made people rich, not giving up. Look, there are always challenges. So get used to that. You will only get where you wish to get to if you are willing to face the challenges along the path. All challenges are opportunities dressed in work clothes, remember that. After the challenge is over, you will discover the amazing fruit it held for you.
10. They fail to conduct their lives as a business; they never ensure that they make a profit year by year. Get a personal finance package like Quicken or Microsoft Money. You need to have budgets and cash flow statements for your personal finances and your businesses. It is easy with those software packages. If you do not keep records and track your business, you will not know when you are making or losing money until it is embarrassingly too late.
11. They allow other people's ideas to affect their decisions unreasonably. There will always be people who do not believe in your way, or who are pessimistic, who try to pull you down, or whatever. They are dream killers who refuse to let you be.  And they will sometimes be your closest friends and family members. You cannot change that - they have a right to be who they are. It is OK. Allow them their thoughts, do not judge them for that, but do not feel obligated to accept their thoughts of following their way. Do not allow other people, now or from the past, unreasonably affect your decisions for wealth creation. Allow them their way, and you live your way.
12. They do not get quality coaching. Some folks who desire to get rich do so alone. When you ask them to get a mentor, attend seminars and read good books for effective coaching, they will laugh at you and remind you that they have the Holy Spirit, and have no need for human mentorship. This statement may sound very religious, but this is the ignorance that gives momentum to satanic financial limitation. The interesting about these guys is that when they need the Holy Spirit he is not always around.
Getting effective mentorship is extremely important for making money! Coaching is simply getting mentored by someone who has succeeded wildly in the area of your interest.  In your craving for financial success, get coaching! Our education system hardly equips us for real life, so do not assume that because you went to college you are properly equipped. You need to keep learning. The most successful people attend seminars, read books, join mastermind groups and clubs, find mentors, network, and even hire expensive personal coaches to make sure they succeed.
How many of these reasons why most people do not get rich can you identify with? Well, now that you see the reasons why most people do not get rich, you now can look at yourself and make sure that you do not follow ways that are known to lead to poverty. Follow what works and it will work for you. Do not forget to enjoy yourself along the way however. Avoid this financial pot holes and you shall always sing the song of wealth.
Conclusively, I want to say that, ‘Those that follow the admonition of wisdom shall never be in the company of failures, but those who do not heed the instruction of wisdom shall have problems more than they can bear’.
For more related articles, click the following links:
  1.  The laws of Wealth
  2. How to Attract Money through Positive Affirmation 
If this article has been of great benefit to you, do not hesitate to post your comment. I will also appreciate if you can email me to share your experience with me.
See you at the top!

The Seven Laws of Wealth

THE PRINCIPLES OF WEALTH CREATION AND SUSTAINABILITY!

The accumulation, utilization and sustainability of wealth calls for the application of the laws of wealth. Anyone who study and practicalize these laws will never experience financial lack. The Secrete of the Rich is in understanding and maximizing these principles! These seven laws are the guaranteed keys to financial prosperity in both personal and business affairs. For the purpose of clarification, I will like to highlight on them as follows:

1. Live on less than your income: When you live on less than you earn, you can have reserve that will help build your financial future. For both an individual and a business, the principle is the same. In a certain period (say a year or a month), if the recurring expenditures are less than the income, there will be a surplus at the end of the period. Over successive periods, this surplus (called profit in a business) grows and becomes a pile of cash that can be invested to earn even more income. This is one of the secrete of the millionaire and billionaires.
How to spend less than your income
  • Save a fixed percentage of your personal or business income every period. Ten percent of all you earn is yours to save. Eating that ten percent is the first step to your financial grave.
  •   If for any reason your income falls, then reduce your expenses accordingly.
  • All payments that are not investments (those that are not acquiring assets that will earn future income) are expenses and should be deducted from your income in measuring your surplus.
  • Understand the difference between expenditure and investment. Expenditures are recurring payments that do not create wealth in the future. These should be deducted from your income to determine your surplus or profit. Investments are assets paid for to earn future income. They should be bought only with your accumulated surplus from past periods plus investment borrowing. Spend your time, intelligence and money to acquire wealth. Never at any instance place yourself under a condition that will force you to acquire liability. Every liability will limit you financially, but every asset will help you to create viable financial empires that will forever liberate you from the common position of lack and want. Do not eat your tomorrow today!
  • The lower your expenses compared to your income, the larger your surplus and the faster you accumulate wealth. Money spent belongs to somebody else thereafter. Money saved still belongs to you.

2. Live by a budget: Those who live by the principle of budgeting shall always enjoy financial flexibility. But those spend carelessly shall suffer in pain. A budget is a written plan of where you want yourself or your business to be financially in a future time. It lists your income and expenses for each of successive future periods (such as a month, a quarter or a year). It helps determine what your financial position will be at the end of a defined period (how much in assets you will have as a result of your income, and how much you will owe as a result of expenses and borrowing).
How live by the principle of budgeting
  • Plan a budget that will ensure you achieve your savings target every month. This budget must result in a surplus /profit. 
  • Start with must-do items that requires your commitment (these should be the expenses and payments you cannot avoid), and plan for optional and luxury items last.
  •  Make sure your budget accommodates your needs, unexpected expenses and the pleasures that make life worth living. These pleasure budgeting should not be elaborate one, else it drain you financially.
  •  Make sure your budget clearly include your ten percent tithe. He that eats his tithe eat his life, and create room for financial attack.
  •   If your income always exceeds your expenses, as long as you do not borrow unwisely, your assets will always exceed your liabilities.
  •  Compare your actual income and expenses with your budget regularly. Where you did not conform to the budget, explain why. Budgeting assessment is fundamental to finding out if you are digging your financial grave.
  •  After explaining deviations, decide whether you need to change something about your behavior- or to adjust the budget.
  •  Regularly review whether you need to adjust the budget. In all cases, your new budget must result in a surplus.
  •  Sometimes, you will need to make big changes about how you live or do your business to ensure a budget that result in an ideal plan. Some decisions continue resulting in expenses long after they are made (like children, mortgages, hired staff, occupancy rent, and assets that must be maintained). Make such decisions carefully (some are irreversible), and do not hesitate to undo them to bring down your expenses when necessary.
3. Invest your surplus in honest and profitable enterprise under the wisdom of qualified money managers: There are many avenues for anyone with money to invest, but the important thing to consider is the profitability of such ventures. Money invested in an insure investment is money gone forever. As you begin to practice the laws of wealth, you will eventually, have enough surplus money to invest. Wise investments will earn future wealth and increase your income exponentially. However, on the contrarily, foolish investments will result in the loss of your hard-earned savings. Therefore, always put your savings in the care of honest people (qualified money managers) who are experts in their field and know the business they operate in better than their rivals.
How:
·        Do not invest in business that you do not understand how to profitably manager. Give your money to the experts instead.
·        Employ experts as the managers of your business. They should be the best in their field, and more knowledgeable about the business than their rivals.
·        Always invest in the market leaders in any business. Never support losers or unproven dabblers.
4. Constantly increase your earning power: Financial intelligence will help to increase your earning power. Learn all the skills and seek help from qualified quarters. Your wealth depends on your investments, your investments depend on your savings, and your savings depend on your surplus income. By preserving and enhancing your power to earn income, you guarantee your future wealth through a constantly growing surplus. Whether an individual or a business, consistently improve on the thing that people pay you for, and ensure you always offer what they value. This is a guarantee way to building a formidable foundation for wealth creation.
How to increase your earning power
·        Dedicate yourself to a profession that has a marketable skill; the skills of which people value. It is worthless excelling in something nobody will pay for. Separate your hobbies from your bread and butter (except if your hobby is very marketable). Always acquire the latest and best certifications, skills and qualifications to enhance and prove your expertise.
·         Constantly pursue and acquire the latest and best knowledge in your field. If you are running a business, always learn about the latest business technology and techniques. If you do not learn the best ways to serve those who pay for your skills or product, your rivals will do so and push you out of business. Your relevance in business is tied to your ability to deliver quality service and products that will help to solve the problems of your targeted market.
·         Always emphasize the newness and freshness of your skills, services, qualifications and products.
·         Constantly find out what people (employers or customers) value most and offer them better than your rivals. It may be the service or product itself, or the way it is presented, advertised, delivered, packaged or priced.
·         Constantly look for new parties to sell your skills or products to, new skills and products to sell as peoples’ needs change, and new ways to improve what you currently sell.
5. Never hesitate to seize opportunities: The wise seek, recognize and seize opportunities, but fools ignore and scoff at profitable problems; they see problems where they are expected to see opportunity. Opportunities abound for every person and every business. The way to wealth is to seize them when they appear. They never last for long. The procrastinator, the vacillator, the risk-averse businessman and the over-cautious investor never achieve wealth. Such people allow opportunities to come and go while they wait for the perfect time or perfect opportunity. There is never any perfect condition for a thing to be done. If things are ever going to be done you must create the atmosphere required for it to be done. Luck is simply taking wise advantage of opportunities.
How to seize opportunity
·        Opportunities by their nature are often unplanned. Do not let a strict adherence to a plan blind you to unexpected opportunities. Be open and flexible to new chances to grow rich. Be ready to change your plan and budget rapidly.
·        There can be no wealth without risk. But if you invest in wise experts and hedge against risks, wealth is the certain result.
·        Procrastination and hesitation are the enemies of wealth. If an opportunity arises and it meets the criteria of a wise investment, do not hesitate or give weak excuses as to why now is not the right time. Opportunities are like smoke- they will soon be gone. They are like a pretty goddess; they do not have time for procrastinators. And when you decide you are ready for them, they will not be there. Over the lifetime of a person or business, there are always more than enough opportunities to create wealth many times over- but most people let them go by.
6. Hedge against the risks of life: Life and business are full of hazards that threaten your investments with failure, and your income with loss. But there is no risk that cannot be hedged against. The risk necessary to create wealth must be accompanied by actions to keep those risks under control. The person skilled in hedging need not fear to sow the seeds of wealth.
How to hedge against the risks of life
·        Diversify your investments. Invest in assets that are unrelated (i.e., not exposed to the same risks), so that it is unlikely they will all suffer loss at the same time. Do not put all your eggs in one basket. That way, if one investment fails, the rest will remain to preserve your wealth.
·         Avoid the lure of super profits. It is a universal law that the greater the profit to be made from a venture, the more risky it is. That is, the chances of failure are much greater than the chances that the super profits will be made. Many fools have lost their wealth gambling on ventures that promised sudden, massive wealth. If it is too good to be true, it probably is not a profitable business. Invest in a number of ventures with modest returns rather than one that promises to make you rich overnight. It is more profitable in the long run to invest in 100 different businesses that bring in 1% profit on a steady basis than to invest in just one business that brings 100%. The wisdom in this is that one business that brings 100% profit will make you suffer financially if the market for that business collapses.
·         Obtain insurance against disability, sickness, legal liability, costly accidents, disaster and misfortune. Unexpected misfortune can ruin the unprepared and make nonsense of the best plan.
·        In any venture, enterprise or investment, always identify the worst that can happen- and put in place a fallback plan to help cushion your business. Plan for the best case, most likely and worst case scenarios concurrently. The equation of life must be properly balanced. In such case when bad luck befalls (as it often does), you will be prepared.
·        If there is a risk that a source of income (a professional skill, product or service) will no longer be valued by those who pay for it, develop another. If the risk is high that an asset will lose its value, sell it quickly and invest in another asset (but avoid panic selling or a short-term hunger for profit).
·        Where possible, pool resources with other people also looking to invest. There is strength in numbers, and sharing risks is a good hedging strategy. If you invest alone, in the event of loss, you will suffer alone. Where many invest in a venture, each will lose only a little if the venture fails. Where only one invests, he will lose everything. However, as good as this may sound, it is important that you take into consideration the type of people you are including in your partnership team. The right team will increase strength, but the wrong team will only produce completion and failure.
7. Borrow wisely: To expand your business and secure your financial viability, you must use other people’s money. However, unwise borrowing is like a deadly pit in which the careless borrower falls into and struggle all the days of his or life trying to get out of. Nothing destroys wealth as surely and completely as foolish borrowing. No man is too skilled, and no business too wealthy, to be undone by excessive debt. It is easy to get into, and difficult to get out of. Debt creates a seductive and dangerous illusion of wealth- it is easy to forget that the day of repayment must come. Never lose sight of the fact that the borrowed money you are spending does not belong to you. The owner will demand it back one day- and usually with interest. Will you be able to oblige him? What will you have to sacrifice to do so?
How to Borrow wisely
·        Never borrow to incur expenses you cannot normally afford out of your income. If your budget (which results in a surplus) shows that deducting a proposed expense from your income will result in a loss, than do away with it. Avoid borrowing to meet persistent needs.
·         However, if the expense is within your income for the period, short-term borrowing may be okay to compensate for a delay in the receipt of your income (because a customer has not paid his debt, or your monthly paycheck has not come in). But it is preferable to put a little cash aside for such eventualities, than to rely on borrowing.
·         Never borrow at interest to purchase assets that lose value. Consumer products bought on credit do not generate income, and they lose value. The debt does not reduce however, and the interest must still be paid, so the result is assets that are worth less than your debts, and an increase in your expenses (with no corresponding increase in your income). This is the basis of bankruptcy.
·        Never borrow at interest rate that is too high. High interest rate will frustrate your business. It will place too much load on your business, and you will end up working for nothing.
·         Borrow at interest only to acquire investments that will:
  •  Increase in value to become more valuable than the debt.
  • Earn income greater than the interest on the debt.
·         Preferably, borrow only a minority portion of the cost of the investment (not more than one third). The majority of the price should come from your accumulated surpluses. Keep to this rule, and you will never borrow excessively.
·        Borrow to save yourself expenses, and thereby increase your surplus. But only do so if :
  1. The saving from the investment is greater than the interest,
  2. The asset will increase in value to become greater than the debt. For this reason, it may be wise to borrow to own a home rather than pay the expense of rent, or to install a more efficient machine to reduce maintenance expenses- as long as all the other conditions for wise borrowing are met.
The seven laws of wealth are sound financial counsel that every rich man or woman of ages past had employed to make them rich. This is also the principle that will enthrone any would be millionaire, whether personally or business wise. Take your time to thoroughly digest it, for this houses your key to financial freedom. This is a wise expert counsel embedded in the foundation of wise motive.

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