We are going to talk about the five ways that enable you to put the power back in your dollar.
Some of you may be wondering what this exactly means. First, you have to understand that money is power. It gives you the power to make better decisions. You’re able to do more and spend more time with your family based on whether or not you have control of your financial situation. A lot of you don’t have quite the control you need or want when it comes to your finances; and this leaves you feeling stressed out, out of control and wondering what to do. We have come up with five ways to take your dollars from pitiful to being powerful and give you back the control of your financial situation that you have longed for.
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Realize you have the power to change – You have to recognize that you do have the power to change your current financial situation. A lot of you are at the point where you feel hopeless like there’s nothing you can do. The debt in your life is going to be there forever. The problem is when you have this attitude, these are the results you’re going to get, There isn’t anything else to be done. But once you recognize that you have the ability and the power to take a current financial mess, clean it up and make it new, then you have the ability to take action. Just by taking that first step, you can take two more. It starts with recognizing that you do have the power to change your financial picture. You have to recognize that the solution you’ve been looking for resides inside of you.
Acquire more knowledge – So many of us think that once we get out school, we’re going to stop learning. No, you should continue to learn and acquire more knowledge in the area of money. Too many times, people just sit around very ignorant of how money really works. They are afraid or maybe embarrassed to ask questions. They don’t want to read. Don’t just sit back and say, hey, I’m going to go to work every single day to bring home a paycheck; and once I pay all the bills, I can spend what is left. No, you want to be able to find out how to make your money grow, how to save more and how you can help other people.
Tell your money where to go – You can start by telling your money where to go. A lot of you get to the end of the month and look around wondering where all the money went. Why? Because you have no budget. It’s a bad word for some of you; but guess what, it’s the key to getting power back into your dollars because a budget is simply a plan. Stop looking at it as a hindrance, roadblock or pair of handcuffs holding you back. A budget sets you free. It’s a way to organize your money on paper before the month begins. A plan gives you control of your budget because you’re putting your money into categories as you go into the month; in effect, you are strategizing. You must have intention, purpose, and power behind every single dollar you bring into the household. Without a budget, please don’t expect to win with your finances.
Destroy your debt – Yes, you heard it right. Get out of debt. There is a difference between someone who has a lot of debt and someone who doesn’t. You know what it is? The person who does not have any debt can do whatever he or she wants. They can send their money off to a charity and help someone else. How many times have you gotten frustrated because there is a cause near and dear to your heart that you want to be able to support, but you simply can’t because you don’t have the finances? This happens a lot. If you get out of debt, you’re putting yourself and your family in a better position to be able to help those in need, to send money wherever you want and do whatever you want with it. Stop sitting back and saying everybody has debt. You need to check your priorities and see what’s important. What are your goals and dreams? Some of you may want to start a business. Some may want to start a nonprofit to help someone and be able to serve for free without having to worry if all your bills are getting paid. Getting out of debt will definitely help you to do it.
Pass the knowledge on to your children – You must pass this knowledge down to your children to make a generational change so that you not only become powerful, but subsequent generations do so with their dollars. It’s important because your children are watching you. If you’re constantly stressed out about bills, that’s all they’re going to know. How can they do better if they don’t have a role model of what better looks like? If you don’t develop good financial habits, how can you pass on good financial ones to your children? All parents want their children to follow sound financial principles. Let this motivate and fuel you; there is power here where you not only get free, but your children do and even your children’s children because of the financial decisions you are making today.