business integrity

How To Attain Financial Success

If you’re thinking that it’s about time you experience financial freedom in your life, you are right. We can start right here, right now by taking a simple test.
How frequently do you pay for rent?
How frequently do you pay for credit fees?
How frequently do you pay for your utilities?
How frequently do you pay for your grocery bills?
How frequently do you pay yourself?

Hold on-did the last question seem out of place to you? That’s because people making money usually pay everything else before they even think of doling out a few bucks for themselves. When you ask them why they will probably tell you that by the time they pay everything else, hardly anything is left for themselves.

This seems reasonable but hardly a success story you would want to hear about. Let me tell you right now that it is possible to take part of the money you’ve earned and keep it away for yourself. It is a practice done by the very wealthy and has its conception since the earlier centuries.

This is actually the first law of financial success practiced by the Babylonians; and this is the first rule you too must follow in your wealth building endeavors. Set aside at least ten percent of your income in your Financial Independence Account before you even begin paying off your debts.

A portion of this financial independence account should be used to make payments on your insurance premium. Insurance premiums are good investments that don’t require a lot from you. Save the rest of your money. If you don’t spend your savings and the interest it yields, you will have a considerable sum you can invest with soon.

Now, some of you might have some debts that need to be paid. How are you going to climb your way to financial freedom if you have creditors waiting to cash in your paycheck right? What you need to do now is create another account, the Debt Clearance Account.

Simply put, you need to take twenty percent of whatever you get in making money and use it for the sole purpose of paying off your debts. Write a letter to your creditor informing him of your financial plans and guarantee him a certain amount weekly or monthly until all is paid off.

What we have now created is a savings plan and a debt clearance strategy that will make reaching your financial objectives a relatively easier task to accomplish. A wealth building, success driven life is not far behind.

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