Who Do You Want to Be When You Grow Up?

No matter your age, it’s never too late to chase your dreams and achieve financial freedom

I don’t know about you, but the ongoing scarcity of women in leadership positions continues to blow my mind. Sometimes it’s hard to believe that it’s 2018, because not nearly enough has changed when it comes to gender equality in the last century. It’s well documented that women are just as capable, if not more so, than our male counterparts, yet we still face a tremendous amount of obstacles clawing our way into senior leadership positions.

According to an article in Inc., six of the top issues that contribute to this phenomenon include:

1. Outdated gender biases that are deeply ingrained in workplace culture.
2. A gap in perception—in a recent survey, 86 percent of men said women have as many or more opportunities than men do, but only 56 percent of women agreed.
3. Women in leadership tend to be relegated to traditionally female roles, such as human resources or public relations, versus IT and finance.
4. Continuous lip service, in which companies say they’re addressing issues of equality but they don’t hold their leadership team accountable for taking action.
5. Disparity in pay for men and women in the same roles.
6. Work-life balance concerns, which result in women being put on the “mommy track,” which prevents them from advancing.

Clearly it’s not easy to change workplace culture, but we’ll keep hammering away at it. In the meantime, if any of these six things sound familiar, it’s time to focus your attention on what you can change: your own mindset.

What do you want to do with your life?

Robert asked me this hard-hitting question on our first date. I told him I wanted to start my own business, and that’s what I did.

Yes, it was difficult. I had to learn through experience and a lot of trial and error. Back then, we had nothing—we even lived in our car for a short period of homelessness. It was extremely scary and stressful. But I did not give up…and things worked out just fine in the long run.

My dream became a reality because I had the courage to focus on my financial education, keep moving forward and not let the naysayers change my mindset for success. I remained steadfast in my purpose and zeroed in on my why.

With this in mind, what do YOU want to do with your life? Who do you want to be? What goals do you want to achieve? What legacy do you want to leave behind?

Do you want financial freedom?

Whether you are a mom trying to balance an impossibly tight budget, a stressed-out executive daydreaming about a better life, or just someone who has “settled” for what you have, have you put your dreams on hold? Do you yearn for something more? Something different?

Well, stop making excuses. It’s time to push yourself to the next level!

Life is a never-ending workshop, and when you stop learning, you stop living. Yes, you will make mistakes, but that’s how you learn. The important thing is to take action.

Put yourself in a position where you have to do something beyond what you think you can do. Make yourself just a little uncomfortable.

Sure, it’s scary. And you will have to fight the negativity out there—not only from your own self-doubt, but from all the people who will tell you your dreams are impossible (especially friends and family, who are either jealous or trying to protect you from making mistakes and getting hurt).

But this is how you break out of a rut, build confidence and get the skills and financial education you need to make positive changes happen. This ties in perfectly to my Be-Do-Have philosophy of chasing and achieving your dreams.

Who knows? You just may surprise yourself at what you can accomplish if you put your mind to it!

Source: http://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/May-2018/Who-Do-You-Want-to-Be-When-You-Grow-Up.aspx

Tony Robbins 7 Simple Steps to Financial Freedom - Lewis Howes

In this video, Lewis Howes interviews the incredible Tony Robbins about 7 Simple Steps to Financial Freedom

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Be the master of your financial destiny with these top tips from one of the World's greatest sales pros!

10 Secrets to Achieve Financial Success

Anton Kreil and his company the Institute of Trading are inspirational, and their messages about trading and financial education are valuable, powerful and poignant.

Check out his 10 secrets to achieving financial success!

Rich Dad Poor Dad by Robert Kiyosaki

One of the best financial education books ever written, everyone should be made to read this book in school!

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TEDxAsheville - Adam Baker - Sell your crap. Pay your debt. Do what you ...

If we're honest, we all have a lot of crap in our lives - why not monetise it by selling it and using it to pay down our bad debts?



Without the noose of debt around your neck, you're truly free to follow your passions and do the things you love!

Tips to Effectively Pay Off Your Debts

Outstanding debts can inflict severe dents in even the best retirement plans which have been carefully crafted over a lifetime. Incurring a debt is seemingly unavoidable in the modern age, as a result of both higher cost of living and consumerism.

With each passing year, more and more Singaporeans are diving into the debt pool as they struggle to cover their daily expenses and make ends meet. As of December 2016, the average Singaporean household incurs an estimated $55,000 of debt, which is a 3% increase over 2015. Easily 75% of this household debt stems from unresolved mortgage loans. Some of this unsettled debt may even force retirees to expend their assets to cover their debt rather than passing it on to their beneficiaries.

However, there are several ways to effectively settle outstanding debts to ensure it doesn't put a crimp on some of those best retirement plans you've come up with.

1. Establish a Budget and Track It

Creating a proper budget is a great way to analyse and plan finances. By allocating a set amount of money towards a specific expense per month, the amount of expenses can be monitored more stringently and precautionary steps can be swiftly undertaken if the expenses overshoot the stipulated budget. It is only through proper budgeting can individuals or households create the necessary surpluses to pay off any existing debts.

Certain financial tools, such as Excel spreadsheets or even Mint.com, are particularly useful in keeping track of a personal or household budget.

The main problem for an individual who does not keep track of his/her monthly expenditure is that he/she does not know if he/she ends the month with a net reduction in savings, i.e., spending exceeds income and eats into savings. Knowing the amount of leftover balance is crucial since a continuous negative balance might lead to the creation of new debts. It is this type of debt that is the most dangerous as it rolls over at seemingly manageable interest rates month after month. Before the individual knows it, he/she would have made hefty payments on interest alone.

Tracking tools are thus crucial in identifying areas of weakness in one's monthly spending habits, but an individual must take affirmative action to reverse the negative balance situation. This can be done via listing out the monthly expenses and employing necessary cut backs on certain expenditures. Discipline is the key.

2. Laddering Debts by Interest Rate

Laddering debts is another technique used in settling outstanding debt. It involves listing out all current debts by interest rate, starting from the highest interest rate to the lowest interest rate. The debt with the highest interest rate costs the most money, so this debt needs to be settled first.

By paying off the most expensive debt first, the overall debt will be reduced significantly faster. Some individuals who incur multiple debts per month and employ laddering in their finances usually settle the minimum payment required for each debt, and use the balance cash from their payments to settle more of the debt with the highest interest rate.

For example, let's compare two debt instruments: one, a credit card with an outstanding balance of $4,000 with an interest rate of 24% and another, a credit line with an outstanding balance of $8,000 with an interest rate of 16%. Ideally, the minimum monthly payment required to settle each debt would first be made, and any leftover finances would be funneled to repaying more of the credit card debt even though the amount owed may be lower.

Laddering is especially useful in tackling multiple debts while avoiding the accidental creation of another new debt. Laddering also instills a sense of financial discipline that is good in tackling unresolved debts and preventing those debts from inflicting too much harm on those retirement plans you've kept in mind.

3. Balance Transfers

Balance transfers is another tool used to cut back on interest expenses whilst settling an attempt to pay off a debt over several months.

For example, given the competitive nature of the unsecured credit market, banks often provide very low teaser rates for clients who transfer their existing unsecured debt from other banks. The effective interest rates could be as low as 4% p.a. versus the normal 24% p.a. one pays on credit card balances. However, the catch is such promotional rates lasts only for a certain period, for example 6 months. Nevertheless, balance transfers can lower the interest costs of an existing debt.

Balance transfers do carry their own risks. Individuals transferring balances must remember to either settle the debt after the transfer or look for another such opportunity before the lower interest on the account to which the balance is transferred expires, otherwise he/she risks paying an even higher interest rate.

Individuals using the balance transfers may also fail to address the continuous build-up of debt, thus wiping out any benefit from such a strategy. In the end, despite this cost-saving strategy, individuals end up with even more debts that impinge on savings, not to mention any future retirement plans.

4. Contacting Consumer Credit Counseling Services

If a person is having immense trouble settling their debts or even coming up with the minimum monthly payments, they should consider engaging a consumer credit counseling service. In Singapore, this service is aptly named as the Credit Counseling Singapore ("CCS") and offers solution-based credit counseling for individuals beleaguered by financial debt.

The CCS's debt management services only cost $130 and pairs up debt-laden individuals with a credit counsellor. The credit counsellor will assess the indebtedness of an individual's situation and assist him/her by making a financial estimate of the debts owed, identify available resources which can be used to cover the debts and even plan a monthly budget which incorporates all living expenses. Solutions to tackle the debt problem and monthly negative balances will be meted out to alleviate the burden of debt.

If one is concerned over how his/her debt would affect his/her retirement plans, contacting the CCS would be the right way to go. If the retirement plan has already taken the old debt into account, proper financial restructuring could reduce the interest and installment payments that need to be made.

Even the best retirement plans may be in jeopardy in the face of unresolved debts. By adopting better financial habits such as establishing a budget, laddering debts and transferring balances, an unsettled debt situation might become easier to handle. If a debt problem persists, the CCS can be engaged to work out a solution to stave off unresolved debts. Financial advisers may also be consulted to better streamline finances and handle monthly expenses, thus ensuring a more secure and better retirement in the future.

Financial Alliance is an independent financial advisory firm that provides its clients with sound and objective financial advice to protect and grow their wealth. Providing top-notch services to both corporations and individuals, Financial Alliance is a trusted brand in Singapore and has been navigating its clients' financial future for 15 years. For more information about Financial Alliance, click on the link: http://www.fa.com.sg/.

"Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs."

Article Source: https://EzineArticles.com/expert/Janet_Smith/2461821

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How to Retire Early: The Shockingly Simple Math

How can you manage your money so you can retire early? Can anyone do this?

Watch now to find out!

How to Make Money and Become Richer Every Day

There are countless ways of making money. It all begins with your motivation to get creative and be determined to go for success. The world's richest entrepreneurs started with an idea that just came into their mind and they decided to chase their goals. You have heard from the several forums they have been invited on to give inspirational speeches. The bottom line is your determination to reach success. You can then start a business that will see you making more money every day. Here are some of the tips you should have in mind so as to make money.

Start with the Little You Have 

The little money you have should be used in generating more. All you need is a business idea and a clear business plan so as to get you started. Therefore you need to know that the money you have cannot grow to make you successful in life unless you invest it in some viable project. Banks interest rates are not that good to get you to success. However, if you did a good research today on a good business idea that you have always had, that way you will be ended to success.

Don't Let Any Coin Pass Your Way without Trying to Get It 

If you are an entrepreneur, you understand what that statement would mean. It means don't let an opportunity you are viable for pass your way. You should consider the money making opportunities, not the spending opportunities. Although you have to spend to gain some more, there needs to be more than an equilibrium in your favor. Therefore, if you have not been keen to identify opportunities, you should be keen from today. There are so many opportunities you just need to be keen so that these opportunities don't pass you.

Don't Just Look on One Direction, Opportunities Are Everywhere 

As much as it is good to concentrate on one item before looking for the other, you also need to be aware that this can lead to loss of opportunities. You need to aim at diversifying your money making ideas. The most successful entrepreneurs offer multiple services. Although they are in one business line, you will find that they have other side gigs to keep them going. Therefore you need to be vigilant to identify opportunities where you can diversify your business so that you can make more money by tapping into different opportunities.

Decrease Expenses and Save More to Make More Money 

Even the moment your business more profits than normal, you need to save more so as to get richer. Reduce your spending and increase your savings is a formula that will help you accumulate your wealth. You can save in the bank or by buying assets that you can sell in future.

Invest in High Returning Ventures 

Think of projects that will give you more value in the future. Don't invest in projects that keep you in the same position, you need to grow. Therefore some investments like real estate that are always increasing value can be good.

Entrepreneurs are always self-motivated. They have the intrinsic determination, and their goals are their inspirations.

Article Source: https://EzineArticles.com/expert/VanNess_Vaughn/2482056

Article Source: http://EzineArticles.com/9827619

Eight Habits That Can Drive You Into Poverty

Do you ever wonder why some people are successful but most remain poor, in spite of the fact that everyone operates in the same economy? Records show that wealth and poverty have existed side by side in older civilizations. And it's not different today.

Granted.Some people may have certain advantages over and above others but it's a known fact that majority of the people who have become successful, also had several odds against them just like the rest. But they were able to weather the storm and emerged successful.

I have here enumerated eight habits that can be responsible for a guaranteed poverty. It does not matter in which country you find yourself. As long as you take cognisance of these eight habits and decide that you're going to do otherwise, success can be assured.

1. PROCRASTINATION

The first habit is procrastination. It is said that procrastination is the thief of time. If you want to be successful, grab opportunities as soon as they come your way because you might never know when such opportunities will come your way again if you fail to do so. Also, endeavour to set realistic expectations. It is unrealistic to expect that success will come too easy and quick. Bear in mind that success takes time.

2. INDECISION

This is a state of being unable to make a choice between two or more opportunities. For example. One may be talented in sports and music but finds it difficult to choose which to pursue. Most times, people with this kind of dilemma may choose to pursue the two opportunities at the same time but end up being average persons. To be successful, you should choose to do one thing at a time for it is better to be a master of your game than a jack of all trades.

3. INABILITY TO ACQUIRE NEW IDEAS

Successful people make it a point of duty to always seek new ideas. They associate themselves with books rather than entertainment. They continuously seek self-development through the pages of books. If you make a visit to their houses, one thing you can be sure of finding is a study library. People who crave for entertainment at the expense of knowledge, are often times condemned to a life of poverty.

4. FAILURE TO LEAVE ONE'S COMFORT ZONE

A Comfort zone is a zone in which you do something that allows you to simply eke out a living. It is called a comfort zone because it is less demanding. Often times, you find people willing to stay in a poorly paying job for over thirty years and retire poor. This happens because of their unwillingness to leave their comfort zones.

If you want to be successful, you must be willing to leave your comfort zone. This is not say you should resign your job but be willing to go into other engagements that will enable you build residual passive income.

5. WAITING FOR THE RIGHT TIME

To wait for the right time before engaging in an undertaking, is to wait endlessly because the right time may never come. Experience has shown that every successful person faced disadvantages. The right time never came in their case but they faced their challenges with dogged determination. Moreover, waiting to learn everything about, say, a business opportunity before engaging in it, is to plan to fail. Successful people rather learn on the job. They may, no doubt, fail. But they regard failure as an opportunity to learn better ways of doing business.

6. HAVING A CLOSED MIND

A closed mind is the surest road to poverty. One who has a closed mind does not see beyond where he is. He is, as a matter of fact, oblivious of the opportunities around him even when they are shown to him. Anyone desiring to make a success of life must be open to other opportunities. The essence is to create streams of income. There is a general believe that an average millionaire has at least, seven streams of income. If any of these income streams closes, he will still keep afloat.

7. WISHING CIRCUMSTANCES WERE DIFFERENT

Some people are poor and they have come to believe their circumstances are responsible. They spend all there life in wishful thinking. They wish they were born in a different country, by different parents, had different relatives etc. More often, you here people say, "If I was born by rich parents or born in so and so country, I would have been this or that by now". That may be correct though, but it is a known fact that majority of successful people never had rich parents that bequeathed some future to them and their success was not by any stroke of luck.

What then could be responsible for their success? First, they earnestly desired success. Second, a plan of action was set to meet their goals. Third, they accepted that success will not come easy but were ready to keep moving.

As Jim Rohn said "If you really want to do something, you will find a way. If you don't, you will find excuses." So stop the excuses of circumstances. Desire success and work very hard to meet your goals. Your destiny is in your hands.

8. COMPLAINING ABOUT LACK OF CAPITAL

If you want to be wealthy, you must do your own business. You will never be wealthy working for someone else. But setting up a business demands huge startup capital which majority of the people cannot afford. This singular factor has put a lot of people away from setting up their own business and therefore consign them to a life of deprivation. With the advent of the internet however, this has been made relatively easier. Presently, you do not need tonnes of millions of dollars to become a business owner. There are several online businesses that you can do to be successful.

The problem with a lot of people is ignorance. Also, many want quick gratifications. So many people are not ready to stay in a business for as long as ten years or fifteen years. If they are not getting immediate success, they give up. But know now that success takes time. Know also that you can now become an entrepreneur with very little money. All you need to do is to research or ask questions from people who are doing online businesses.

Why do some people become successful while so many people remain in deprivation? Knowledge and habits seem to be at the center of wealth and poverty. People who are in the know, have continued to warn about imminent economic crisis the result of which is that many will fall deeper into economic deprivation.

Some habits are the reasons why people experience poverty. I have explained some of them in this article. Should you determine to read this article, my hope is that you will find it helpful and it may enable you to determine to do otherwise and by so doing, you will achieve success.

Article Source: https://EzineArticles.com/expert/Sunny_Ng/2455020

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