What to do with Money so You Get Rich!

Wealthy people are wealthy because they’re good at managing their money. By learning what to do with your money, you can become wealthy too
A few years ago I went to a 3 day seminar called the Millionaire Mind Intensive & learned a powerful personal money management technique that I’d like to share with you today. If you ever get an opportunity to go to the MMI seminar, you’ll be glad you did (plus it’s free).
I also read a more spiritually based plan called The Bible Prosperity Plan, that shows you a system based on the Bible that’s very similar to the MMI plan. What was cool about this was that I learned things about prosperity in the Bible that I never knew existed. I also recommend you get a copy of this plan, as it goes into far more depth than I will below. Even if you don’t follow the Bible, the plan still works the same

Getting Rich Automatically

“Rich” is a relative term. The amount of money we need is fairly irrelevant. We simply need enough money to do what we want to do in life without having to spend every waking moment working for money.
It’s important to first understand what you want in life, and then you seek to find a way to finance it.

You Have More Money if You Manage it Properly

Once you form a habit of managing your personal finances properly, everything you want will magically fall into place. This involves two steps:

1. Figuring out what you want that’s important to you (prioritized)
2. Setting funds aside for it until you can do it.

The Millionaire Money Management Formula

Here’s the personal money management formula that’s helped me achieve my financial goals in record breaking time.
First you’ll need 6 envelopes (or Jars if you like):

1. FFA (10%) – Financial Freedom Account
2. LTSS (10%) – Long Term Savings for Spending
3. RELIEF (10%) – When unexpected expenses arise (like fixing your car, repairing the roof, etc..)
4. PLAY (10%) – Your play fund
5. GIFT (10%) – money you give to people/causes you believe in.
6. Necessities (50%) – Your basic living expenses.

These are the accounts that you’ll use to manage your personal finances. I’ve changed them slightly from the ones Harv recommends at MMI & Brad recommends in the Bible Prosperity Plan, because I’ve found that this system works better for me & the people I recommend it to.
Every time you earn money, funnel it into the 6 accounts above. Here’s a short description of what each account is for:
FFA (10%) – Financial Freedom Account. This is your golden goose where you only eat the Golden Eggs. If you’re trading forex, your forex trading account capital is your forex golden goose. You never spend this sum, you allow it to grow by adding 10% of ALL income to it.
LTSS (10%) – Long Term Savings for Spending -This is where you get to buy bigger stuff that you want. A new car, a nice vacation, anything that costs more than a months salary. This fund diverts money so you can have the things you want. If you do this, you’ll eventually start to notice that you’ve got money here & you’ve already bought everything you want
RELIEF (10%) - Relief Fund - It was tempting to call this the emergency fund, but relief sounds more empowering. This is money that’s there when an “emergency” comes up. Instead of having to put something on a credit card, you’ve got a stash to hit when unexpected expenses arise.
PLAY (10%) – Play fund - This will be your favorite account. Your play fund is for extravagant treats. This is where you splurge and just “blow it.”  This is where you go to the $500 dinner, get the 90 minute massage, or take a hot air balloon ride. The only rule with this fund is that you MUST spend ALL of your play fund at least ONCE a month! This is money for you to enjoy the stuff that you’d normally hold back on. This is guilt free fun
GIFT (10%) – Gift fund – The world becomes a better place as you prosper. This is money you can use to buy groceries for a family in need, give to your church, synagogue, mosque or temple. You can give this to your favorite charity, or a homeless person on the street. If you have a family member who’s struggling, leave an envelope of cash anonymously on their doorstep. John D. Rockefeller taught his kids this principle & they became one of the wealthiest families in world history. Most major religions teach giving as a prosperity secret. This also alleviates personal guilt as you’re “sharing the wealth” with others as you become wealthier. You’ll also feel good about this
Necessities (50%) – Necessities – This is your basic bills. This includes rent or mortgage, car payment and/or insurance, food, clothing, haircuts, etc… This is stuff you need to live, this isn’t what you want it’s what you need.

Practical Tips to Get Started

If you’re like most people in America today, you can’t live on 50% of your income. If you’re not able to follow the money management plan above perfectly, there is a way to ease into it & still get the benefits.

Step 1: Expenses < Income

Your expenses MUST be lower than your income or you’ll be POOR & BROKE forever. If you can’t afford it now, how could you possibly afford it PLUS interest later? If you’re expenses are greater than your income, you are living a lie. Get real & downsize. If you can’t live on what you make, you’re not being honest with yourself. Get a cheaper house, a cheaper car, or cut your expenses so they are at least less than your income.

Step 2: Manage the Surplus

Once you get your expenses less than your income, write down ALL of your expenses. This is your “BASE Cost of Living.”
Since you need your “BASE Cost of Living” to live, you’ll want to manage your personal money with the 6 accounts above with all of the extra money you receive. This includes a pay raise, forex trading profits, or any extra income you receive. Eventually you’ll realize that you can manage all of your income with the 6 accounts above.

Get Started Now

This personal money management formula will give you everything you want in a shorter amount of time than you ever thought possible. It uses your money efficiently for the things that are important to you. It allows you to have fun & still take care of life. It takes a little while to kick in, but when it does you’ll learn that you have a lot more money than you ever did before!

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