How To Get Started

If you are sick and tired of the grind of the daily commute, hate suits or whatever your uniform may be, tired of making other people rich by building their business for them with your blood, sweat and tears and getting paid peanuts as a result, then this article will be for you. For there is very much a way to escape the rat race and the most savviest have figured it out and are using the answers to live life on their terms.


First of all let me define rat race. If you are in a position where you are trading time for money, and I don't care if you are working for minimum wage or you earn $2000 per hour, you are in the rat race. For your income to keep coming in, you need to keep working. If you go on holiday so does your income. What is needed is to find a method or methods of bringing in income that keeps on occurring whether you choose to work or not this is commonly referred to as passive income.
Here are a few points worth looking at in terms of your own life to see exactly what is needed for you to learn how to escape the rat race.
 
1) Evaluate spending habits. - This is the very first thing you should be doing before you even consider finding passive income producing vehicles. Look where money is being wasted and make a decision to life as frugally as you can. You will need the extra money to put towards your investments. Ask yourself every time you reach in to your wallet or purse "do I need this".

2) Work out your dream lifestyle cost wise- Sit down and dream up your dream life. Where would you live, what car would you drive, what would you wear, what would you do on a day to day basis, how many holidays per year would you have. Then figure out a cost to it all, what is the mortgage payment on that house, the payment on that car, how much do the holidays cost, how much is your golf or health club membership, how much do you want to spend shopping per day. This will then give you a monthly figure that you need to be producing.

3) Start an entrepreneurial venture- This is probably the biggest key for so many to learn how to escape the rat race, but one so many get wrong. They start a business venture and all they really do is buy a job. By that I mean they have to work twice as hard on a business because it is their business. They can't leave the business or it will stop producing. Look to create something or get involved with something that will generate passive income, income that comes in if you work or not. Network marketing is an example of this but is not necessarily the right road for everybody. Rental properties or dividends from corporate companies you have invested in are another example, or royalties on a product you have created.

4) Don't work for money, work for time- Always bear that in mind, can you pay someone else to do it for you. Don't get caught up in things that don't really matter. The new rich have discovered that time to do what they want to do when they want to do it is what really matters the most.

5) Have money work for you, your cash flow buys more assets. This is really key; when you start making profits or generating additional income, the temptation is to rush straight out and splurge on a fancy car or holiday, etc. Just wait a little longer, delayed gratification never hurt anyone. Start to reinvest some of those profits back into other cash flowing producing assets,  eg: stocks, bonds or property, or even another business. This is how you create real wealth.

Article Source: https://EzineArticles.com/expert/Robert_J_Bright/889423

Personal Development is the Key to Financial Freedom

Why should you invest in personal development, why should you invest in knowledge? Well, are you where you want to be in your life yet? Do you have total financial freedom where you do not have to work anymore and can spend all your time doing exactly what you want to do when you want to do it? Chances are you have answered 'no' to the above questions.
How does anybody become good at something that they have no idea about? They learn. They learn as much as they can on the subject and then they practice it.

Tiger Woods is not the best golfer in the world because he was born with talent. Sure he is talented and would certainly be a good golfer but NOT the best and probably not even a professional golfer if he did not dedicate hour after hour to learning and practicing new techniques. Tiger started holding golf clubs before he could even walk and has dedicated his life to perfecting his swing. Even to this day, he still seeks perfection and wants to learn more and more and more. That is why Tiger is the best golfer in the world.

Now, you probably don't really want to be the best golfer in the world, but you probably do want to attain financial freedom and escape the Rat Race. To be rich, you have to think like a rich person. You need to invest in yourself, invest in knowledge, and learn how to think like the rich person thinks!

What's the difference between you and Bill Gates (besides a gazillion dollars)? Do you think he is smarter than you? Maybe, but that's not why he is rich, there are plenty of people much smarter than he but don't have anywhere near as much money. Do you think it's his good looks? (What good looks?) The only difference between any of us and Bill Gates is our mindset. Bill Gates sees opportunity where others see failure or hard work. The good news is we are all capable of changing the way we think if we so wish to. The only way to think like a rich person is to learn how the rich think actually think. We do that by reading books, listening to audio CDs, attending training courses, playing specially designed games and so on - Personal Development.

Currently our minds are programmed in a set way, perhaps something along the lines of; in order to make money you have to get a job, or you might think that money is evil. However you have been brought up to think about money, you will believe it in your subconscious. We need to re-programme our minds to think like successful entrepreneurs such as Bill Gates, Richard Branson and Warren Buffet and we can do this by surrounding ourselves with their presence, their knowledge and their experiences, in the form of books and audio training.

The more time we spend learning from masters past and present, people who have been there, done that and got the T-shirt, the more we will start to think like them, and the more we start to think like them, the more we can make decisions in our lives as they would and the more we can make money like they do.

Don't be afraid to spend money on training your brain as personal development is the key to success. Whatever you spend on educating yourself you will make back again and more providing put what you learn into practice and keep practicing until you get it right. You won't get it right first time either, but through consistent effort and constant training you will become the person you want to be. Buy every book you can get your hands on and read it! Invest in knowledge!

 Article Source: https://EzineArticles.com/expert/Michael_Pound/261405