The Foundation to Fix Your Money Madness

Our money legacies are passed down through our family. Examples: did you grow up hearing arguments over money, was money discussed at all or was it handled positively. Our money legacies can be negative or positive. We can also change our money legacies.

 

Our money stories can be negative or positive as well. However, they have more to do with personal circumstances that have happened to us personally throughout life. Examples: Divorce, bankruptcy, depression. These life events cause us to handle money negatively, such as emotional spending.

 

• negative money legacies cause us to be reactive to money situations
• Positive money legacies cause us to be proactive with money

 

In order to create wealth we must develop a wealth mindset. This includes eliminating negative legacies and taking personal responsibility for handling money properly. Most importantly, we must be proactive in acquiring wealth.

 

• A wealth mindset helps us create wealth, quicker, sooner, faster. We are more proactive and seek out ways to develop wealth and manage money effectively.

 

At the foundation of creating wealth is, knowing your numbers.

 

• It’s essential that you know your financial numbers
• Open all bills and assess them as a whole
• Track your spending for thirty days to find out where there are holes in your pocket. You will identify unnecessary spending
• Create spending and savings plan

 

The next course of action is the elimination of debt. Particularly, pay off unsecured or depreciating debt.

 

• Eliminate debt before investing
• First you will have more to invest and it will grow faster
• Also, investing while you have debt keeps you the hole
Example: if you have 18% debt and investing at a 8% you are not gaining ground by investing, you are actually in 10% negative.

 

This is just the ground work for creating a healthy money blueprint and creating wealth. Keep an eye out for part two of creating personal wealth.

 

I invite you to get your money in order, I have a few spots left this year, to help you create your financial blueprint for 2016.

 

Check out my services @ www.financiallybrilliantwomen.com and schedule a complementary strategy session. As always, here’s to your success!

 

Feel free to join the conversation by commenting below!

 

Want to use this article for your Ezine, blog or newsletter? Feel free, but you must keep the article intact including this statement and credit.  Nisha Jackson, is the “The Wealth Breakthrough Catalyst” a sought after Business  & Money Coach, Speaker and Author helping entrepreneurs create wildly successful businesses by maximizing business revenue. As well, she shows women how to effectively manage their personal finances. While earning more and working less so they can live the freedom based lifestyle they deserve. Sign up for information and The Brilliance Newsletter @ www.financiallybrilliantwomen.com or email info@financiallybrilliantwomen.com for more information.

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