I cannot stress enough how many times recently and over the last few years I've seen women's lives change from comfortable to having to start over due to circumstances beyond their control. Whether it is realising something in themselves, that they have not reached their potential in life, an illness that has meant them giving up their career, or they have found their marriage suddenly dissolves underneath them, whatever the circumstances, without being financially independent every decision from that moment on becomes harder and harder.
With today's living expenses rising higher and higher, it is advisable to have at the very least independent savings from your spouse. Ask yourself this one very important question this week:
How Wealthy Are You?
Step One: Add up your expenses , everything from your rent or mortgage, through to clothing, insurances, pets and food with everything in between!
Then ask yourself if there is anything you have forgotten from this list, such as trips to the cinema, facials, weekend breaks etc The closer you are to your actual expenses total, the greater your chances are of success in understanding what needs to be done to become financially independent.
Step Two: Calculate how much money you CURRENTLY have, not including your salary from your job or work. So in reality if you stopped working right at this moment how much money would you have in savings, stocks, investments that could be turned into cash and any cashflow that is being generated from assets.
Step Three: Now simply divide the total money you have today into your monthly expenses from Step One. The answer you see on the notepad is the number of months you could live at your current standard of living if you were forced or decided to stop working. That is HOW WEALTHY YOU ARE.
Now if you are not too worried, and think it's all OK because, you are well insured for example, or you an inheritance coming to you one day, or that most of your money is tied up in property then all of these things play a part in us seeking some kind of security.
Without focusing on passive income building, asset buying, and gaining positive cashflow from investments on a monthly basis, most people simply live their entire lives within 3 months of going broke. It is for this reason, that I began my Passive Income March a few weeks ago and having made a start on my first Network Marketing Business in the last few weeks, I am now the proud owner of a growing passive income generating business.
Can anyone do what I'm doing? Absolutely but you must have a clear starting point and know exactly where you are going, luckily the Network Marketing Company marketing plan, plus my previous online experience means that I am able to really hit the ground running.
What is most appealing is that I am taking charge of my own destiny, not relying on luck, or the throw of a dice, but sheer delight that I have not only learned some new skills that are now being put to good use, but also the effect of the results on my family's future. By pursuing this now will mean that real security and financial freedom are not just left to chance for my family.
This is in line with the first rule of successful investing in Kim Kiyosaki's Rich Woman book, which is Rule Number One : Arm Yourself With Some Education. Without knowing how to read a personal balance sheet, reconcile a bank statement, understand your expenditure in detail and know the tools required to bring to an online Network Marketing business, none of this would be possible.
If you have been putting off Getting Started on learning about wealth strategies do your own wealth test, understand where you are starting from and start today!