Financial Opportunity - Part 2
You know what the "snowball effect" is, right?
The idea that a snowball, rolling downhill, gets more and more snow attached to it so that, when it reaches the bottom of the hill, it has increased in size dramatically.
We'll apply that to jobs and careers in the next article but, for today, we're going to apply the SNOWBALL EFFECT to opportunities with MONEY.
We ended the last article talking about people complaining that they don't have enough money or that they have no way to pay off debt or save any money for the future.
In RARE instances, that may be true. But I'm talking RARE.
More than likely you do not fit into that category and you DO have ways to pay off debt AND save money for the future.
The #1 thing you must do with this is to TAKE AN HONEST ACCOUNT of what is going on with your money. Notice that I said, "honest". Hey, listen, you can lie to yourself if you want but, friend, it's not going to help you and it's not going to change your situation. As a matter of fact, your situation will likely worsen due to your lack of honesty in this area.
*Ouch!*
Hey, it's time to get real here! You MUST be honest when looking at your money and where it is going. "Disappearing" is probably more like what seems to be happening, right?
Again, first and foremost you MUST stop paying money to everyone else (along with the high interest rates) through credit card payments, car payments, furniture rental, etc. No, I don't mean just stop paying. Get this debt paid off as quickly as possible so that you don't HAVE to pay!
"But Mike, how do I do that? I'm broke!"
Sure, you can go get another job but, friend, that's not really going to change anything because you will spend or waste that money as well. THAT'S A FACT! Yes, I do understand that there are SOME exceptions and that SOME people would actually apply that extra money the way that needs to be done. But, honestly, that likely is not you!
What can you do - TODAY - to save money that will not require you to work extra time or at an extra job?
1. STOP SMOKING! The average price of a pack (1 pack!) of cigarettes in the United States is $5.51 per pack. In a week, at ONLY 1 pack/day (I emphasize only because most smoke MORE than 1 pack per day) that comes up to $38.75 and, in a month, it comes up to a little over $150. Oh, and in a year, just by smoking 1 pack of cigarettes a day, you have watched a little over $2,000 go up in smoke!
2. STOP EATING OUT SO MUCH! Oh, I know, I know...you're rushed and you HAVE to do that. No, you don't! I'm not saying that you have to stop eating out completely but, c'mon, how serious are you about this whole money thing? OPPORTUNITY is right in front of your face when you consider how much $$ you spend eating out over the course of a week. YOU do the math!
3. JUNK FOOD! Add it up yourself and see how much of your overall grocery bill is junk (chips, cookies and other sweets, soda, etc). Do you have to cut them out completely? No, but, I can almost promise you that you can cut out at least 90% of it right now.
We'll apply that to jobs and careers in the next article but, for today, we're going to apply the SNOWBALL EFFECT to opportunities with MONEY.
We ended the last article talking about people complaining that they don't have enough money or that they have no way to pay off debt or save any money for the future.
In RARE instances, that may be true. But I'm talking RARE.
More than likely you do not fit into that category and you DO have ways to pay off debt AND save money for the future.
The #1 thing you must do with this is to TAKE AN HONEST ACCOUNT of what is going on with your money. Notice that I said, "honest". Hey, listen, you can lie to yourself if you want but, friend, it's not going to help you and it's not going to change your situation. As a matter of fact, your situation will likely worsen due to your lack of honesty in this area.
*Ouch!*
Hey, it's time to get real here! You MUST be honest when looking at your money and where it is going. "Disappearing" is probably more like what seems to be happening, right?
Again, first and foremost you MUST stop paying money to everyone else (along with the high interest rates) through credit card payments, car payments, furniture rental, etc. No, I don't mean just stop paying. Get this debt paid off as quickly as possible so that you don't HAVE to pay!
"But Mike, how do I do that? I'm broke!"
Sure, you can go get another job but, friend, that's not really going to change anything because you will spend or waste that money as well. THAT'S A FACT! Yes, I do understand that there are SOME exceptions and that SOME people would actually apply that extra money the way that needs to be done. But, honestly, that likely is not you!
What can you do - TODAY - to save money that will not require you to work extra time or at an extra job?
1. STOP SMOKING! The average price of a pack (1 pack!) of cigarettes in the United States is $5.51 per pack. In a week, at ONLY 1 pack/day (I emphasize only because most smoke MORE than 1 pack per day) that comes up to $38.75 and, in a month, it comes up to a little over $150. Oh, and in a year, just by smoking 1 pack of cigarettes a day, you have watched a little over $2,000 go up in smoke!
2. STOP EATING OUT SO MUCH! Oh, I know, I know...you're rushed and you HAVE to do that. No, you don't! I'm not saying that you have to stop eating out completely but, c'mon, how serious are you about this whole money thing? OPPORTUNITY is right in front of your face when you consider how much $$ you spend eating out over the course of a week. YOU do the math!
3. JUNK FOOD! Add it up yourself and see how much of your overall grocery bill is junk (chips, cookies and other sweets, soda, etc). Do you have to cut them out completely? No, but, I can almost promise you that you can cut out at least 90% of it right now.
I could go on and on on things that you could cut out of your budget. I haven't even started on your entertainment costs and how much you're paying just to watch television. But, hey, you might want to take a look at that as well.
All of those "small" things SNOWBALL into BIG EXPENSE for your wallet and, a lot of those listed also create a BIG EXPENSE on your health!
If you would do even those 3 things listed (or, if you don't smoke....find something else to replace it, like alcohol or the entertainment I mentioned), you will see how much extra money you will have to start applying toward some of your debt! And, all without having to get another job.
Small opportunities GROWING (the "snowball effect") into BIGGER opportunities!
What if you could do something and bring in just an extra $10 per week. Believe it or not, most people won't even consider something like that because "it's ONLY $10 per week". But, listen, that extra $10 per week (without any kind of interest added to it) turns into an extra $40 per month, $520 per year and, after 5 years, it will bring you an extra $2,600!!
Small things that, done consistently, can and WILL become BIG things due to the "snowball effect" with your finances.
As always, this is up to YOU to make happen. It's not easy but, friend, if you are always short of money and have a lot of debt, consider it a NECESSITY.
Next, we apply this "snowball effect" to job opportunities.
Until then, always be sure to...
"Make it an AWESOME day! (Who else is going to do it for you?)"
Mike
(Note: if at any time, ANY of the links below do not work, be sure to contact me at mike@futureyouuniversity.com )
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