What you do with a pound

Feb 07

Here's a great topic of conversation.

What you do with a pound.

I'm basing this on the premise you want to get yourself into a decent financial position.

Listen to this!

Someone close to me once said...

I've accepted the fact i'm never going to be rich. I earn decent money and i've got a decent life so i'm quite happy with that

And that's fine! Remember, it's all about what you want. If you're happy with your lot, great!

But if you want more you need to do something different.

Very few people will earn enough money in employment to be financially free. 30% of workers in the UK alone say they live month to month with a further 30% saying they quite often live month to month! (survey done by career builder)

In fact, it's not money at all which will make you a fortune.

It's your habits!

How do you view your income each month? 

A lot of people view it as 'i have this much to spend' and their expenses will shrink or expand in order to fit that amount!

I know a few people who earn 100k and live month to month. Cars, holidays, living the life.

Get paid off and they're fucked!

I had a conversation with a guy who made big money, got paid off and told me the government needs to help him.

Really?

Then you've the young lad from Australia, working in McDonalds who made himself a millionaire.

And countless other stories of people on average wages, turning it into a fortune.

Because of what you do with a pound.

A percentage of it is viewed as 'seed money'

Jim Rohn was the first i heard speaking on the subject. Live off 70p in the pound and use 30p for seed.

Alter that number to suit your situation. Then...

Invest in your business.

Invest in someone else's business.

Invest in stocks & shares.

Invest in property.

Now, what if you've got zero disposable income?

Well, before you can start the plan above, you need to find some.

Can you earn more?

Can you bin some of your expenses?

Can you start a business on the side?

I know many people who moved back in with parents etc to free up cash to get their business going. 

Completely depends on your situation, what you want to achieve and what you're willing to do to get there.

Only you can answer that!

If you're serious about it, take the Dads on Fire Financial Goals Quiz today


Love ya, bye

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