Anyone who wants to build wealth or achieve financial freedom and independence needs to seriously consider the act of charitable giving, even before “having the money to do it.” I realize that this probably the most counterintuitive financial advice you’ve ever heard, but giving 10% of your income towards charitable causes can greatly multiply your ability to earn, to build financial freedom and to even create wealth. If this sounds hard to believe, I challenge you to consider putting this principle to the test. Let’s look at how to do this and a little bit about how this principle works to help you achieve financial freedom: {Read More}
Feb
2013
Taking the Road Less Traveled… Towards Wealth
Personal wealth building success starts and ends with taking the road less traveled.
You might have heard the words of the poet Robert Frost who wrote: “Two roads diverged in a wood, and I….I took the road which was less traveled by, and that has made all of the difference.” In regard to personal wealth building, this simple statement speaks volumes. Just think about how many people are broke, frustrated and trying to win the lottery….that’s most people. {Read More}
Feb
2013
How to Create Spending Power
Personal wealth building success starts and ends with your spending habits. The wealthiest people in America (the Forbes 400 that is) all have one thing in common when it comes to their financial habits: their spending is always directed towards financial freedom. This is why you never find rent to own stores, title loan companies and stores that sell 60 different kinds of lottery tickets in the wealthy neighborhoods. All of these are things which people spend money on which help someone else to become wealthy. This is why the practice of “Powerspending” is one of the most important strategies for increasing personal wealth. {Read More}
Dec
2012
How Important Is Your Financial Freedom?
One thing that you don’t hear people talk about much when it comes to achieving financial freedom is how important it really is. We just assume that because we want freedom with our personal finances that wanting is enough. Sometimes it’s not enough.
You need to have an absolute burning desire which compels you to do what it takes day in, day out for as long as you need to in order to succeed in building wealth or in achieving financial independence. What does it take to build this kind of desire and discipline? {Read More}
Dec
2012
Financial Freedom Through PowerSpending
Achieving financial freedom starts with having a plan and the right set of beliefs which can help you to execute that plan. If you have a plan only, and don’t do anything to develop the right set of beliefs or values, you’ll find it impossible to stick with that plan long enough to get any kind of results.
When it comes to achieving success in your personal finances and building wealth, one of the most important beliefs you can develop is the belief that you should always be spending to add value to your life. {Read More}
Nov
2012
How Tightly Do You Have to Manage Your Personal Finances?
A simple personal cash flow plan is always better than one which is complicated, difficult to understand and even more difficult to live on.
Too many times, people over complicate their personal cash flow plans and try to draw in their purse strings so tight that they burn themselves out and give up on their financial freedom plan altogether.
So this raises the question: “Just how tightly do you have to manage your personal finances?” This article will answer that question and help you to stay on track with a simple personal cash flow plan… {Read More}
Nov
2012
How to Put a Stop to Spending Habits That Break You
Are you realizing that you need to control spending more than you need to get out of debt or to increase your personal cash flow? If so, you’ve already come a long way in comparison to the general population.
Many people spend their entire lives broke or struggling and looking for ways to increase their personal cash flow or build multiple streams of income, but without first learning to manage the income that they already have.
However, being broke is more about your habits and your attitude about money than it is about how much money you’re making or how little money you owe. {Read More}
Nov
2012
Developing a Plan of Action for Financial Freedom
Achieving financial freedom starts with forming a plan of action before anything else. This must happen before you try to start earning more money, before getting out of debt, before controlling spending, before anything else.
In other articles, I’ve mentioned that financial freedom and personal wealth building can only happen on purpose. This is why you must have a plan for achieving this freedom if you want to have any hope of succeeding.
This article will give you a sound strategy for developing your plan for achieving financial freedom. {Read More}
Oct
2012
How to Keep the Money You Earn
Personal wealth building basics start with getting more value out of what you already have.
Do you ever feel like you’re putting money into a purse (or wallet) that has holes in it? If so, you’ve probably wished for an increase in income more than once. However, what if instead you could keep more of what you’re earning?
As you can imagine, accomplishing this first would help you be confident that earning more money will be a positive experience instead of just having more to lose.
Here are some personal wealth building habits that will help you keep more of the money that you’re already earning… {Read More}
Oct
2012
Three Reasons to Keep a Spending Journal
Keeping a spending journal is one of the most important financial decisions that you’ll ever make. So why don’t more people keep track of what they’re spending?
Chances are if you’re not keeping a spending journal right now you’ve either never heard of it or you aren’t aware of the benefits.
What could it possibly do for your financial situation to simply write down how much you’re spending? If you’re wondering about this, here are three reasons why you need to start keeping a spending journal as soon as possible. {Read More}
Oct
2012
3 Steps That Can Turn Your Life Around Financially
Considering that the majority of people never achieve financial freedom, it’s essential that you have an exact plan for getting yourself out of this majority right away. Most of us know how to control our spending and have at least an idea of a few investment strategies which we could use to accomplish greater results in our financial life. However, first it’s important to break old habits and get some momentum built up towards developing new ones.
Here are three steps you can take to start turning your financial life around today… {Read More}
Frederick W. James MD is both a seeker and teacher of balance. Keeping in mind the understanding, “There is always something to learn,” Dr. James knows life, like finance, is a balancing act that needs constant attention. This is the foundational thought of his behavioral philosophy that secured his wealth and guarantees it for others. After years of preparation, the career cardiologist created wealth to benefit his family and others. Now, this innovative system of responsible spending is available to all through his financial coaching program and book, Spend, Don’t Save.
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