Mindset of Endurance & Wealth Building

Learn why looking at your future outcomes “in a realistic time frame” or an “enduring way” can more effectively direct your future…

 

In the current economy it is important that you have the mindset that is necessary to “stick it out” whether difficulty arises or things happen smoothly.  To better direct your future so that you can have the staying power or mental endurance that will lead to you taking the steps that will lead you toward your goals–you must have the right mindset!

 

It is imperative that you know where you want to go, know how you plan on getting there and have the mental fortitude that will get you there–regardless of how difficult the journey may be.

 

Now is the time that you fine tune or improve upon where you are at so that you can have the mindset that is needed to take you where you desire or need to be.

 

In this discussion TheWealthIncreaser.com will discuss ways that you can approach reaching your wealth building goals in a more enduring manner.

 

A made up mind can overcome many obstacles that can hold others back.   It is the desire of  TheWealthIncreaser.com that you make up your mind to pursue your goals with more endurance as by doing so—you increase the likelihood of success tremendously because you have prepared your mind for the journey.

 

You can  make real success happen now by doing the following:

 

Determine Your Path Toward the Success that You Desire

 

Do you at this time have a feel for where you want to go  financially?  Now is the time to formulate real goals and now is the time to gain the vision of what it will take to achieve the goals that you desire.

 

Once you determine where you are at you must then choose a path that will take you forward.  Are you going to pursue a path to success that can get you real results or are you at a point in your life where you are still trying to discover the path that you will take.

 

Do you have a burning desire to reach higher and achieve more during your lifetime or are you content with where you now are?  If you don’t have that burning desire to achieve more at this time–you more than likely won’t have what it takes to develop a “mindset of endurance” at this time.

 

Fine Tune Your Activities on a Consistent Basis…

 

Have you mastered ways that you can achieve success in the current economy and have you looked at more effective ways of reaching your goals?

 

By reanalyzing where you are at and where you want to go you can achieve far more on a daily basis!  You must realize that adverse happenings that are out of your control will occur as you pursue your goals–however you must press onward–even though difficult days are in your midst.

 

By  fine tuning or re-analyzing what you have planned for your financial future you give your mind and heart more direction and you help make what you desire most happen–because you are “tuned in” to your future success.

 

Conclusion

 

With many attempting to do something new or different that can totally change the direction in their life can be a tough adjustment.

 

However, if you are one who desire to pursue your destiny, you must make the decision to change the direction in your life at some point.    It is the desire of TheWealthIncreaser.com that this page and site has at least got your mind to open up some and assess your current finances and the direction that you want to go in your life in a sincere manner.

 

On this site you will find a number of ways that you can build your endurance and change your mindset for the better.

 

However, it is  your decision to decide to act on information that you feel can move you and your family forward.

 

You can choose to have a mindset of endurance and comprehensively pursue your dreams or fret later in regret because you have not reached your goals because you did not have the endurance to “stick it out” when difficult challenges came your way.

 

Isn’t it time you use your abilities, skills and talent that you now have or will soon learn to “focus in” on what you want to achieve and do so with “endurance” so that you can achieve more and win in your life.

 

Always remember that distractions affect your focus, without focus—you won’t do things right.

 

Always be aware of the power of focus!  The less clutter in your mind means more success because you can focus on winning financially and building wealth without all of the distractions that seem to hold so many back..

 

Isn’t it time you cut things down to what is important!

Isn’t it time that you learn a few steps that you can take that works with your focus—not against your focus!

Isn’t it time that you know what you want!

Isn’t it time that you gain the power that comes when you focus!

Isn’t it time that a strong vibration goes through you and the universe!

Isn’t it time that you gain a “mindset of endurance!”

 

Focus for you may mean saying no to the other good financial products that are out there and selecting this approach or it may mean deciding that this approach is not for you and focusing on another approach that better fits your focus objectives or where you want to go as you improve your finances and build wealth.

 

You must focus on your future and have the mindset that you will achieve what you focus on.  By doing so you will endure all that comes your way and achieve the goals that you set–in a manner that will not sway!

 

Tips for Enduring Success:

 

Use written plans to make your goals happen…

 

Always realize that significant goals are not reached without proper planning…

 

Even though you may desire immediate success–reaching your goal(s) is a process and takes time…

 

A wholistic approach or comprehensive approach is normally the best approach to take to achieve lasting financial success

 

You will reduce stress when you put a plan in place to reach your goals and you know deep inside that you are committed to achieving the goals that you formulated…

 

Always realize that with income planning there are solutions—it is never too late to plan your  future so that you can live and spend like you want to do—there are many solutions to get you to where you want or need to be…

 

All the best to your new “mindset of endurance” and your future wealth building success…

 

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Wealth Building 101 (Frequently Asked Questions)

 Learn about common wealth building questions that many have asked over a number of years…

 

Wealth building is a lofty goal and you should be commended for seeking new and possibly more rewarding ways of building wealth.

 

In this discussion TheWealthIncreaser.com will present to you a number of questions that have been asked by clients, visitors and others on a number of sites created by the publisher of this site that TheWealthIncreaser.com feel is important for your financial advancement.

 

Be sure to hone in and focus on the questions that are significant to you at this time as you may find a more effective way to meet your goals and advance forward more efficiently.

 

Common Questions

 

Q: What is umbrella insurance and why should I get that type of coverage?

 

A:  An umbrella insurance policy provides additional liability protection for you in addition to the coverage that you would have on your home and auto liability coverage.

 

It is an affordable option to provide additional protection against liability claims that may come your way during your lifetime that could force you to have to sell your assets, downsize, move to another community, lose your liquid assets and further cause undue headaches that could have been avoided–for in many cases “several hundred dollars” per year.

 

Q: How much life insurance should I get at this time?

 

A:  The amount of life insurance that is needed for you (and others) will vary depending on your age, family size, family structure and your future goals.

 

There are a number of ways to determine the coverage that you may need and they include:

 

  • 10x earnings ($50,000 in annual income multiplied by 10 means I need $500,000 in insurance coverage)

 

  • replacement cost (to pay off my car, house and the student loan that my spouse has been paying on for the last 15 years I need $350,000 in coverage)

 

  • need analysis (to pay off my mortgage and my 5 year old daughters future tuition and provide my wife and my daughter $100,000 cash for a 10 year period I need $1,430,000 in insurance coverage) and

 

  • Several other ways as well

 

Q: Am I able to take money out of my 401k for a down payment on a home?

 

A:  You are able to borrow against your 401k and possibly save in the short term, however there are risks.

 

You risk your retirement income being reduced, and there are potential tax consequences of borrowing against your 401k.  In addition many who borrow against their 401k never manage to pay the loan back.

 

However, legally you are allowed to borrow against your 401k, the question then becomes is it wise to do so—or should I do so at this time—or are there better options that I can take?

 

Q: After I retire and move to a new state can I lower my taxes?

 

A:  In many cases that is possible as many states have no or low tax rates and if you retired and moved to a new state you would in most cases be taxed at the rate in the state that you reside.

 

However, depending on the state that you moved from—taxes could still be owed and payable to that state.

 

Be sure to investigate further prior to your move on what will apply tax wise in your particular case.

 

Q: What is a healthy debt load for a family of four?

 

A:  The question is pretty much open ended and the answer will depend on your current income.  In general a debt load of 40% or less would be ideal.  However, in some cases compensating factors (a better school district, a more reliable car due to longer commute in your area, environmental factors, relative moving in, other additional income etc.) may lead to you exceeding the debt load of 40%.

 

Keep in mind the 40% debt load includes your housing and other debt.

 

If you make $120,000 annually or $10,000 per month your maximum or ideal monthly debt load would be $4,000 which in some localities would be possible.

 

A housing payment of $2,500 per month with a car payment of $500 per month along with other debt of $1,000 per month where you have roughly $6,000 to utilize in other ways (various monthly expenses, utilities, food, clothing, entertainment, retirement, vacations, investments, education planning etc.) will put you and your family in position for success in many areas and localities.

 

If you make “$60,000 annually”  or $5,000 per month you would be looking at a monthly housing payment of $1,250, a car payment of $250 and other debt of $500 and you would be in great position for lifelong success.

 

If you make “$240,000 annually” or $20,000 per month you would be looking at a monthly housing payment of $5,000, a car payment of $1,000 and other debt of $2,000 and you would be in great position for lifelong success.

 

In high cost cities such as New York and San Francisco you would more than likely have to exceed that 40% ratio—depending on your income.

 

The point is you want to have a debt load that is comfortable for you and allows you to live the lifestyle that you desire and save for your goals in a highly effective manner.

 

As to your family size—college planning, and the cost of raising children must be factored in as well–as that could further reduce your monthly discretionary income.

 

Note: The above numbers are illustrative in nature.  Any combination of housing and debt that is under 40% may be appropriate and the ratios must be interpreted from the money management perspective of the individual and/or  family.  Also, monthly debt as used in this discussion is debt that will exceed 12 months to pay off.

 

Q: How do I know the amount to save for college for my 5 year old daughter?

 

A:  The amount that you will need will depend on the college, in state or out of state tuition rates and the future value of the amount that you will need.

 

You can then use a number of approaches to reach or exceed that number.  If you fall short you may need to use your current income, take out student loans in your name or your child’s name, or borrow in some other manner.

 

The sooner you get started and the more discretionary income that you have available the more realistic the number that you need to reach can be reached.  In addition it is important that you and your child have an understanding of the pay scale in the current economy related to the major (degree) that they plan on pursuing.

 

You can go to Payscale.com to learn about salary info for selected majors that your child is or will consider in their future…

 

Q: I know I need a will to avoid probate, but how do I know if I need a trust?

 

A:  In many cases a trust is an effective tool for shielding income from taxation and providing a safety net for your heirs.

 

You most definitely need a will, however the decision on whether you need a trust can be a difficult one because it is based on a number of factors–including privacy as a “will”–will be made public (again no pun intended) and a trust will not.

 

Be sure to visit the estate planning page on this site along with All About Estate Planning on Realty 1 Strategic Advisors website to learn more.

 

Q: What is the amount of income that I should save to have retirement income until I reach age 95?

 

A:  Your retirement number will vary depending on your current age, your current  income, your ability to save and your future goals.

 

 You want to save enough to live at your pre-retirement level and take the vacations that you desire at a minimum.

 

In addition you may have other goals such as helping your kids and grandkid’s pursue their dreams as well.

 

This will all play into the “retirement number” that you need to achieve to make the goals that you desire materialize.

 

Conclusion

 

In the current economy you are presented with many choices and answers to your financial questions and this discussion hopefully pointed you in the right direction as far as building wealth more efficiently in the current economy—or any economy.

 

Fortunately for you and other visitors, there are hundreds upon hundreds of personal finance sites on the web and it is your responsibility to find one (or several) that you are comfortable with and can help you build wealth effectively and efficiently in the times that we now live in.

 

Your devotion to improving your finances at this time will provide you the opportunity to achieve more throughout your lifetime.

 

Hopefully you took advantage of this page on the front end (prior to making financial mistakes)–however, even if you did not—you can correct your mistakes and build the type of future that serves your best interest.

 

TheWealthIncreaser.com believes that success lies ahead for you and your family from this day forward…

 

Also return to this site as additional Q’s and A’s will be added on a continuous basis.

 

Are you an agent of change or will you become the victim of changes that occur?

 

Be sure to answer the pressing questions (financial or otherwise) that you may have inside of your mind and heart in an intelligent, consistent and proactive manner to protect your and your family’s future interests.

 

In addition you can become an agent of change by building wealth in a more intelligent, consistent and proactive manner and not fall victim to the actions of others whether it be a scam artist, governmental policy or any other individual or entity!

 

It is the desire of TheWealthIncreaser.com that these and other FAQ’s that follow will help you achieve more throughout your lifetime…

 

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MVP & Wealth Building

Learn why you are the Most Valuable Person at this time when it comes to building your wealth…

After a somewhat technical article in the last post TheWealthIncreaser.com decided that it was time to lighten things up some and inform you why you are the MVP as far as your financial future is concerned.

 

With the WNBA women’s basketball finals concluding, the Major League baseball season coming to an end, the NFL football season now fully underway and the NBA basketball season and NHL hockey season only weeks away the topic of Most Valuable Player appeared to be an appropriate topic at this time.

 

In the times that we now live in many are asking a number of financial questions and at the top of the list of many is how can they build wealth more efficiently in the current economy?

 

When it comes to building wealth it is critical that you realize that “you” are the key and most critical component in making it happen.

 

It is you who must muster up the motivation (no pun intended) to move forward in a way that is unstoppable as you must be Motivated to move to action at a very high level.

 

It is you who must create a Vision of your future that will be inspiring and will lead to you achieving significant goals that will move you and your family along at a prosperous pace.

 

It is you who must Plan for success by using written plans and it is you who must gain the preparation and knowledge on the front end that you can use to your advantage so that you can achieve more throughout your lifetime.

 

In this discussion TheWealthIncreaser.com will further expand on why you are the MVP when it comes to your financial future and building wealth in a more efficient manner.

 

Are You Motivated at a High Level at this Time?

 

It is imperative that you pursue your goals with a high level of inspiration as you must be inspired to move to action in some manner.  You must look within and discover who you really are and you must use your imagination to dream big and bring into existence a new reality where you consistently pursue your goals at a high level.  What are you aiming to achieve during your lifetime–and why?

 

Inspiration, motivation, action, imagination–use all that and more to open a new door…

 

Do You Have a Clear Vision of What You Want to Accomplish in Your Financial Future?

 

You must have a clear view of where you want to go and you must know what you want to achieve.  You must know if you are serious in approaching your future in a manner that will truly take you toward the goals that will serve your and your family’s best interest.

 

Did you know that procrastinators are afraid of “NOW” and seriously confronting their future?

 

Do you desire to pay off your creditors, join the local fitness club, take the vacations that you know you deserve, live out your retirement in a stress free manner, purchase that second home or attain any other goals that are dear to your heart?

 

If you do–you must have the vision to see it happening–at this time!

 

Focus, vision, clarity, mental working knowledge–use all that and more to achieve more…

 

Do You Have an Effective Plan for Financial & Life Success and are You Willing and Ready to Follow that Plan?

 

Your ability to make things happen in your financial life can be enhanced  in a major way by you taking a few minutes of your time to put in writing what you desire most.

 

Whether you desire to take control of your finances on a monthly basis, improve your credit, or improve your finances in some or all areas you increase the likelihood of success tremendously if you get into the habit of putting it all in writing in a format that sticks with your mind and acts as a guiding light to direct you toward what you desire most–or what you need to achieve the most.

 

Written plan, success planning, keys to success, effective site search–use all that and more and enjoy the tour…

 

Conclusion

 

By having a high level of motivation at this time, visualizing your future in the clearest manner possible, and planning for success by using written plans you are showing a real commitment for success.

 

You can choose to use this site, the 3 step structured approach, Managing & Improving Your Credit & Finances for this Millennium or any other resource that you feel will work for you–to make your dreams come true.

 

By approaching your financial future with a high level of motivation, a clear vision of where you want to go and precise planning that can more effectively direct your daily actions you are displaying to your heart and mind a real seriousness to achieve real results and success in your life will be more likely to occur!

 

Because you looked deep within your heart and mind–your heart and mind will affirm what you are pursuing and the actions that you take will be in congruence with what you are pursuing–because you have put in the work to make it happen in a sincere manner!

 

All the best to winning the MVP award and your future success…

 

 

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Macro & Micro Understanding of the Broader Economy & Your Personal Economy as You Build Wealth

Learn why your general understanding of the overall economy and your understanding of your personal economy is critical as you build wealth…

 

In this discussion TheWealthIncreaseer.com will try to explain what is often difficult for many to interpret (Macro & Micro Economic Theory) and how a meaningful interpretation that makes sense to you can help you in your wealth building efforts (Micro Economics) and allow you to act in a more appropriate manner as a result of your understanding–as you build wealth.

 

Although this discussion is somewhat technical in nature, your comprehension and awareness of the following paragraphs can put you well ahead of those in the general population when it comes to understanding the overall economy and making your personal economy work better for you and your family regardless of market conditions.

 

TheWealthIncreaseer.com will begin by defining general concepts that are needed to help further your understanding of macro and micro economic theory and follow with a discussion on how you can use your newly acquired knowledge to move forward financially at the various points in your life as you deal with the larger economy and your personal finances.

 

MACRO Discussion

Definitions:

 

Macro—“Macroeconomics” a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. It is the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.

 

Contrast with:

 

Micro—“ Microeconomics”  the study of individuals, households and firms’ behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues.

 

GDP (Gross Domestic Product)–Written out, the equation for calculating GDP is:

 

GDP = private consumption + gross investment + government investment + government spending + (exports – imports).

 

For the gross domestic product, “gross” means that the GDP measures production regardless of the various uses to which the product can be put.  Real GDP growth is the value of all goods produced in a given year; nominal GDP is value of all the goods taking price changes into account, therefore prepare your mind for the context in which GDP is written or spoken in and interpret properly.

 

Although you will hear a lot about GDP and it is often used as a political football, you can go to the following page to get documented results from 1990 up until 2017.

 

https://www.statista.com/statistics/188165/annual-gdp-growth-of-the-united-states-since-1990/

 

Examples of GDP in selected years:

 

2000—just over 4%

2004—over 2%

2008—negative GDP

2012—just over 2%

2016—less than 2%

2017—over 2%

2018—not available

 

*Note:  In 2008 and 2009 there was negative GDP and from 2010 to the present there has been an up and down movement in GDP, with an upward trend.

 

National Debt–Government debt (also known as public interest, public debtnational debt and sovereign debt) is the debt owed by a government overall.   The United States has continuously had a debt since the 1830’s, however the debt is now at an all time high.

 

The Fiscal Year 2018 U.S. budget deficit is $833 billion. 

The deficit hit a record of $1.4 trillion in the fiscal year 2009 following the years 2007-2009 (great recession era).

 

See chart at the following link to learn more:

 

https://www.statista.com/statistics/187867/public-debt-of-the-united-states-since-1990/

 

By contrast, the annual “government deficit” refers to the difference between government receipts and spending in a single year (discussed below).

 

https://www.statista.com/statistics/200410/surplus-or-deficit-of-the-us-governments-budget-since-2000/

 

Annual Budget Deficit—the U.S. budget deficit by year is how much more the federal government spends than it receives in revenue annually.

 

Prior to the 9/11/2001 time frame there was a government surplus on an ANNUAL basis (see chart), however since that time the government has continuously operated at a deficit on an ANNUAL basis and the national debt has increased yearly!

 

Go to the following TreasuryDirect.gov link to learn more to learn more about the National Debt over a number of years:

 

https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

 

Examples of National debt for selected years:

 

2000–$5.674 trillion.

2004–$7.390 trillion

2008–$10.02 trillion

2012–$16.3 trillion

2016–$19.57 trillion

2017–$20.24 trillion

Current—over $21.48 trillion (click here to see real time debt clock)  

 

Economic Indicators–An economic indicator is a statistic about an economic activity.  Economic indicators allow analysis of economic performance and predictions of future performance.  One of the most important uses and application of economic indicators is the study of business cycles.

 

There are three types of economic indicators: Leading, Lagging and Coincident:

 

1) Leading.  Leading indicators help to predict what the economy will do in the future…

 

2) Lagging.  Lagging indicators confirm what leading indicators predict…

 

3) Coincident.  Coincident indicators move with the economy…

 

Popular leading indicators include average weekly hours worked in manufacturing, new orders for capital goods by manufacturers, and applications for unemployment insurance.

 

Lagging indicators include things like employment rates and consumer confidence. The business cycle always have highs and lows.

 

Coincident indicators include things like your personal income.

 

In summary, leading indicators move ahead of the economic cycle, coincident indicators move with the economy, and lagging indicators trail behind the economic cycle.

 

Examples:

 

LEADING: Signal future events

 

  • Bond Yields (leading)
  • Housing Starts (leading)
  • M2 (Money Supply–leading)
  • Consumer Confidence Survey (leading)

 

LAGGING: Follows an event

 

  • Unemployment Rate (Current Employment Statistics (CES) lagging) see chartnote downward trend in unemployment since the great recession

 

 

 

 

COINCIDENT: Occur at the same time as conditions they signify

 

  • Real GDP (Gross Domestic Product—coincident)
  • Personal income (coincident)
  • Market Index Movement

 

It is important to know the role that GDP, Annual Debt, National Debt and other Economic Indicators play as that knowledge can help you plan better for your future.

 

Additional market indicators include the Dow 30, S&P 500 and other market indices and there performance throughout various countries and regions–as well as the globe.

 

Interest rate movement, the cost to borrow, inflation, stock market movement and other macroeconomic indicators can all help you determine the right moves to make in your life from a micro economic perspective.

 

 

 

MICRO Discussion

Definitions:

 

Micro—“Microeconomics” the study of individuals, households and firms’ behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues, including that of family’s.

Contrast with:

Macro—“Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. It is the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.

 

Budget or Cash Flow Statement—A personal budget or “home budget” is a finance plan that allocates future personal income towards expenses, savings and debt repayment. Past spending and personal debt are considered when creating a personal budget.

 

personal cash flow statement measures your “cash inflows and outflows” in order to show you your “net cash flow for a specific period of time. Cash inflows generally include the following: Salaries. Interest from savings accounts. Dividends from investments.  Cash outflows generally include: Mortgage payments.  Auto payments. Utility payments.

 

Inflows minus outflows will determine if you have discretionary income or whether your monthly outflows exceed (you would be in the negative) your cash inflows.

 

Net WorthNet worth is the value of all assets, minus the total of all liabilities.  Put another way, net worth is what you own minus what you owe.

 

It is important to know your net worth and and it is important to grow your  net worth over time.

 

Discretionary Income—the money you have after paying for necessary expenses like rent, utilities, and food. It’s what you use to buy non-essentials (goods and services that you have discretion over) throughout the month.

 

Disposable Income—also known as disposable personaincome (DPI), is the amount of money that households have available for spending and saving after income taxes have been accounted for.

 

Personal Credit—Consumer credit is a debt that a person incurs when purchasing a good or service. Consumer credit includes purchases obtained with credit cards, lines of credit and some loans. Consumer credit is also known as consumer debt.  The most common form of consumer credit is a credit card.

 

Emergency Fund—an account for funds set aside in case of the event of a personal financial dilemma, such as the loss of a job, a debilitating illness or a major repair to your home.

 

In the microeconomic area of your life you must have an effective system that allows you to address the following areas in the most beneficial manner as possible:

 

Insurance

Investments

Taxes

Education Planning

Estate Planning/Wills

Retirement Planning

 

By creating a budget, knowing your net worth, effectively managing your credit, properly establishing an emergency fund and managing all areas of your finances at a level that is the best that is within you—you are now on a real path to making your dreams come true.

 

By looking down at the overall economy from a high altitude you now have a better view—and that view also allows you to see your own overall management of your own finances  with more clarity and you are now in position to achieve major success throughout your lifetime.

 

Conclusion

 

Your understanding of the larger economy that you live in as well as your understanding of how you can manage your finances more efficiently will serve your and your family’s greater financial interests in a major way from this day forward.

 

Always realize that there are a number of sources for receiving economic indicator data and one site or source may vary from the other but they will in many cases be going in the same direction but may require in-depth analysis.

 

TheWealthIncreaser.com believes that you no longer have to be confused about financial jargon and how it relates to your wealth building future.  You now have a better understanding of macroeconomics and microeconomics and you can now move forward with confidence as you build wealth.

 

You can put together an effective plan to direct your future in areas that you have control over and make chess type moves in areas that you may not have control over.  You can now direct your future more effectively and control your future outcomes.  You are now in position to act—not react–after the fact–and achieve more with less effort.

 

As you build wealth—you now know how to operate with more precision because you have a meaningful understanding of the Macro Economy in your Country or Region—as well as the Micro Economy that you manage in your own household.

 

You must be aware of wage stagnation and inflation in your nation–and you must know how to integrate your knowledge of the market indicators into an understandable format within your mind.

 

You must understand that a “growing national debt” that is caused by tax cuts, increased government spending and rising interest rates will ultimately lead to the interest on the national debt increasing in ways that may not only be good for your country–but may also be a drain on your personal economy as well.

 

Some market forecasters predict that the interest on the debt will double from 2017 to 2019 and balloon even further after that–therefore,  it is important to have some idea of what effect that may have on your personal economy.

 

Always remember that there are 3 things in your life that are constant:

 

  • Things you can’t control

 

  • Things that you could possibly control but you won’t

 

  • Things that you can control and you can choose to do so or choose not to

 

The microeconomic area of your life provides you the ability to choose option 3 in the affirmative.

 

In the macroeconomic world you will often find yourself with option 1 and/or option 2.

 

By determining at this time that you will manage your finances better—and put together a serious plan of action you are on a path to making life much more enjoyable for yourself and your family in the current economy—or any economy.

 

All the best toward your economic success…

 

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Deception & Wealth Building

 

Learn why you must avoid “deception” as you build wealth…

 

It is important that you are on guard for deceptive or misleading information as you manage your finances and build wealth.

 

Whether you get your information online, in magazines and newspapers, over the air such as radio and TV or any other way you must be aware at all times that the information that you may be hearing may not serve your best interests.

 

It is not uncommon for your favorite athlete, entertainer or other popular personality to promote products and services with the end goal of getting you to act in a desired manner.

 

In many cases what they are promoting may actually work against your financial and wealth building growth and you may not be aware of that fact—or become aware at a later point where it becomes difficult or impossible to resolve in your favor.

 

It is important that you become aware of deceptive actions (or the potential for you to engage in deceptive actions due to the action of others) on the part of others as you build wealth–as that awareness is critical in the times that we now live in.

 

In this discussion TheWealthIncreaser.com will explore ways that you can avoid letting the deceptive or misleading actions of others negatively affect your wealth building efforts.

 

1)   You must read, listen and understand what is really being said (and not said) regardless of who says it

 

It is not uncommon for many to hear their favorite radio personality, actor or actress, athlete and other entertainer(s) promote financial products and services.

 

Many businesses that you deal with throughout your lifetime will also promote products and services that may appear to meet a need in your life or serve a need in a manner that appears beneficial to you.

 

In some cases what is being promoted may actually work against your best interest and that of your family’s and this discussion is designed to help put you in a more favorable position to guard against the misleading and deceptive actions of others regardless of what they are and who they come from.

 

2)   You must not let the deception of others cause you to take the wrong action

 

What you are hearing works against you and can cause you to take the wrong action when it is presented in a misleading or inaccurate way.

 

For example, if you now have excellent credit and you currently pay 14.99% in credit card interest and have a balance of $4,000 and you hear a promotion by your favorite radio personality to combine your debt and pay 4.99% in interest and save hundreds in interest.

 

Let’s say you took that advice and did what your favorite radio personality suggested.  On the surface it looks good and you will save in interest.  However, you may have had better options and you didn’t even know it.

 

Depending on your income, emergency fund balance, current credit profile, your discretionary income and a few other factors you may be able to pay that debt off at 0% interest for 18 months (credit card transfer fee may be involved) and in 3 years you could have that debt paid off at a lower overall cost than agreeing to the 4.99% offer.

 

The point is you could save more in interest and possibly pay the debt off faster and in a more convenient manner by doing so—but even if you listened carefully—what was not said was the key point especially if you are unaware of your ability to pay 0% interest on the credit card debt that you owe based on your credit and market conditions.

 

In addition, you also have other options or payoff methods that you could pursue outside of both of the options presented above that may be more beneficial for you and your family depending on where you desire to go (goals) in your future.

 

3)   You must plan proactively to reduce the likelihood that deception will be used against you throughout your lifetime

 

The above example of having your credit card payments reduced from 14.99% to 4.99% where you could have possibly done even better, and many other scenarios that you will or may face in the world of finance—can be reduced, made less relevant or avoided by you if you gain the right knowledge and preparation on the front end—not after you make mistakes.

 

If you have the right knowledge at the right time (before you enter into a transaction) you can put yourself in better position to make favorable outcomes happen for you and your family.

 

Don’t be misled by emotionally charged commercials and letting those who you are “big fans of” misdirect or mislead you on the financial affairs that will happen during your lifetime.  You no longer have to be intimidated by high pressure or low pressure sales pitches–unless you choose to–as you can put yourself in position where you are in control of your financial future.

 

It is important that you get out in front of your finances at this time by analyzing your finances at this time in an intelligent, consistent and proactive manner so that you can achieve more.

 

Conclusion

 

In many cases it is what is not said that is most critical when you hear ads and other promotions.  You must always analyze what you are hearing in the most analytical, careful, accurate, and critical manner possible to protect against your and your family’s financial interests.

 

On financial documents if what is said is unclear or you see the potential for confusion—write in what you are asking for and make it a part of the contract—so there is no confusion about what happens later and who is responsible.

 

If you purchase a used car and buy a warranty for 100,000 miles and the vehicle has 40,000 miles at the time of purchase—“write in” on the warranty document “warranty to last until vehicle reaches 140,000 miles” to protect your future interests.

 

The creator of TheWealthIncreaser.com had a similar experience with Atlanta Luxury Motors as what the sales manager in the finance center stated in uncertain terms and what was actually enforceable by the warranty company varied (when they were called stated warranty was for 100,000 miles period) and as a purchaser you had no way of knowing because the box checked for the warranty period could be interpreted a number of ways.

 

Atlanta Luxury Motors (ALM) did not resolve this discrepancy satisfactorily and The creator of TheWealthIncreaser.com will not be purchasing a vehicle from them again.

 

Be particularly aware of debt payoff and consolidation companies, payday lending companies, title pawn companies, high fee banking and investment institutions, mortgage lenders, auto lenders and credit card issuers as they can have a negative effect on your wealth building efforts if you are not careful.

 

In almost all cases there will be consequences as a result of your action or inaction as you navigate through life and encounter financial dilemnas!   Now is the time that you make favorable outcomes happen in your life as you build wealth.

 

It is also important that you operate on a daily basis with high standards by gaining the financial knowledge that you need proactively!  You must also demand high standards from those that you do business with–whether it be TheWealthIncreaser.com or any other transaction that you may make during your lifetime.

 

You must be able to see your financial future clearly and you must know the areas that you must address in a comprehensive manner so that you” know what lies ahead at the various points in your life.

 

By doing so you put yourself in a better position to avoid deception and financial strife–throughout your life.

 

All the best as you avoid deception and build wealth…

All the best as you improve your financial health…

 

Success is now…

 

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Precision & Wealth Building

Learn why looking at your future outcomes “in advance” in a “precise way” can more effectively direct your financial future…

 

In the current economy it is important that you have a vision of your future so that you can more precisely take the steps that will lead you toward that vision.

 

It is imperative that you know where you want to go, know effective routes that you can take that will get you there and you must know how to fine tune or improve upon where you are at (the goals you reach) on a consistent basis as you build wealth.

 

In this discussion TheWealthIncreaser.com will discuss ways that you can approach reaching your wealth building goals in a more precise manner.  A made up mind can overcome all obstacles!  It is the desire of TheWealthIncreaser.com that you make up your mind to pursue your goals with more precision as by doing so—your achievement has already occurred–if you believe it to be true.

 

Determine Where You Want to Go by First Knowing Where You Are Now At…

 

It is important that you give yourself a real chance for success by knowing where you now are as far as your finances and financial health is concerned.

 

You can determine where you are on a monthly basis in the handling of your finances by creating a monthly budget or cash flow statement to determine if you have discretionary income left over that allows you to plan your future more efficiently.

 

You must also know your net worth at this time so that you can put together a plan that allows you to increase your net worth on a consistent basis.

 

Choose an Appropriate Path that Can Take You to Where You Need to Go…

 

Once you determine a number of goals that you desire to pursue you must find an effective system that will work for you and your family.  Whether you choose to use this site or other sources you must have a pathway to success within your mind that you believe in and makes sense to you.

 

You can then use your knowledge and take the action steps that will take you toward your goals.

 

Fine Tune Your Activities on a Consistent Basis…

 

Once you get a handle on your credit and finances you want to review each area on a periodic basis to see if you can make improvements.

 

This process will allow you to fine tune your insurance, investments, taxes,  emergency fund, education planning, estate planning/wills and retirement planning.

 

By doing so consistently you will achieve better long term results and your life on earth will be more enjoyable as you will be in better position to do what you desire throughout your lifetime.

 

Conclusion

 

With many repetition (hearing or seeing what they need to do) creates persuasion, still others act upon hearing or seeing what they know to be true immediately.  And there are others who have no desire of hearing, seeing or acting whether it be repetitive or they know what is presented to be true because they have no desire to act—for varying reasons.

 

It is important that you use your mind with precision as by doing so you can utilize your mind in a way that will help you achieve better results.  You must utilize and align your right hemisphere of your brain (creative side) with the left hemisphere (logic/reasoning etc.) so that your cognitive functions work in congruence with your future financial goals.

 

On this site you will find a number of ways that you can build your wealth with precision.  However, it is your choice and your decision to decide to act on information that you feel can move you and your family forward.

 

You can choose reward and move forward or fret later in regret because you have not reached your goals yet.

 

It is your choice to use your mind in a more analytical, careful, critical and accurate manner as you move forward.  It is important that you focus on what you want to achieve financially with precision by using your mind in an intelligent, consistent and proactive manner.

 

Isn’t it time you use your abilities, skills and talent that you now have or will soon learn to “focus in” on what you want to achieve and do so with “precision” so that you can achieve more.

 

Now is the time that you precisely know where you are headed and how you will get there as it relates to managing your cash flow and building your credit and net worth!

 

Now is the time that you precisely know where you are headed and how you will get there as it relates to “choosing an appropriate path” that can take you to where you need to be in a more efficient manner!

 

Now is the time that you precisely know where you are headed and how you will get there as it relates to fine tuning your activities on a consistent basis as it relates to comprehensively managing your finances!

 

In short, now is the time that you formulate a mental picture of your financial future and put in place a realistic plan that will take you toward that picture—and beyond.

 

Always remember that less clutter in your mind means more success because you can focus on winning financially and building wealth without all of the distractions that seem to derail so many.

 

You must focus in with precision on a daily basis to achieve more so that you can continue to soar as you open a new door (reach your goals)!

 

All the best to your future success…

 

 

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Goal Oriented Behavior & Wealth Building

Learn why your behavior on a daily basis will in large part determine your future financial success

 

Most recently the creator of TheWealthIncreaser.com noticed a 4 year old boy wearing a shirt with the inscription “Goal Oriented” and that inspired the creator of TheWealthIncreaser.com to create this page.

 

The creator of TheWealthIncreaser.com found it uplifting to see a young boy (more likely his parents) understand the importance of goal-oriented behavior and it is the desire of TheWealthIncreaser.com that this discussion will inspire you to make positive moves that will lead to your wealth building dreams (goals) coming true!

 

Set Cash Flow Goals

 

It is important that you set meaningful and significant goals as you formulate ways that you can build wealth.  In the current economy it is important that you have an effective understanding of your monthly cash flow and also your net worth.

 

By having that understanding you can work toward your goals with more confidence and self-assurance.  You don’t have to procrastinate or wish for a brighter financial future if you make the decision to do what you need to do–and take the appropriate follow through..

 

You must know if you have the income that is needed to meet your monthly expenses throughout the year at the earliest time possible (early in your life stage) so that you can plan your future in a more realistic manner.

 

You can set goals right now and make a serious effort toward reaching those goals by having the preparation and knowledge that will help direct you on where you want to take your future.   By gaining the preparation that you need and  the necessary knowledge –you can direct your steps to a place where  the goals that you set are reached in a timelier manner.

 

Set Credit Goals

 

If you have high credit card debt that is making life more difficult for you and your family you must come up with a payoff or pay down plan that will take you toward your goals.

 

You must also set the goal of understanding how credit works (regardless of your current credit position) so that you can put that understanding at the forefront of your thought process as you manage your credit optimally throughout your lifetime!

 

Many can explain the 5 credit factors, however very few can explain how the factors affect you in a manner that gives “you” the ability to retain that knowledge for your personal and financial gain—throughout your lifetime!

 

This  badly needed credit discussion of the 5 credit factors will help you achieve success on both objectives (giving you the understanding and application that is needed for your credit success throughout your lifetime).

 

TheWealthIncreaser.com asks that you open up your mind to a new and more empowering way of understanding your credit as well as a new way of applying that understanding in a practical way so that you can achieve more throughout your lifetime.

 

Set Goals to Comprehensively Understand and Manage Your Finances

 

You must know all areas of your finances that you must address and you must set goals to effectively manage those areas at a level that is the absolute best that is within you.  By having a comprehensive overview of your finances you can avoid financial “blind spots” that seem to hinder so many as they build wealth.

 

Make sure you look into how you can manage the following in a better and more beneficial way:

 

Insurance

Investments

Taxes

Emergency Fund

Education Planning

Estate Planning/Wills

Retirement Planning

 

By analyzing all of the above areas in a sincere manner you can put yourself in position to achieve more.

 

Be sure to put your goals in writing (where appropriate) so that you can gain added focus and help ensure that you stay on track toward reaching your goals.

 

Even though making mistakes is often the greatest teacher for many–your goal should be to get “out in front” of your finances so that you can “avoid” mistakes that many make without even realizing they are making mistakes!

 

Conclusion

  

All of the topics discussed above plays a role in your goal-oriented behavior on a daily basis as it relates to your wealth building efforts.

 

You must always realize that adversity or difficult challenges and stretches will occur during your lifetime.

 

However, in the midst of it all you must remain confident, focused and committed to the success (goals) that you see and are aiming for!  In addition, always realize that it may at times  appear to you that there are always others who know how to manage their finances more effectively or better than you.

 

However, you can learn how to do it differently and in a way that works toward achieving real  results as you move toward the goals that “you” desire!

 

You must understand fully that nothing gainful in your life happens without the right movement on your part!  Now is the time to make the commitment to give your wealth building efforts a fresh start!

 

Even when your plans are not going as you would like them  to go you must remain flexible with your options and you must realize that you may have to adjust your goals as circumstances changeas adversity can come from what seems like any direction.

 

Even though things may change in a way that you did not anticipate you must still push on and move toward your goal(s).

 

You must realize that on occasion when you are pursuing your goals you may feel that the effort that you are expending is out of your control.  However,  you must stick to your plan as best you can even though you will never be able to perceive or see what lies ahead with total certainty.  Even so, you still possess the ability to reach your goals if you stick to your plan as best you can.

 

You must remain fully committed toward reaching your goals whether you decide to use the information on this site or other sites or medium.   It is important that you realize that it is not how you reach your goals but the fact that you must reach your goals as long as you do so ethically and with a level of determination that is unstoppable!

 

As you pursue your goals you must have an open mind and  you must be open to the possibility that adversity will occur and you must still have the mindset that you will persevere onward in spite of the adversity that you will undoubtedly face during the various stages in your life.

 

Be sure to use adversity or things that don’t go your way as an opportunity to  learn more about yourself, others and how to overcome difficult situations (by gaining the mental fortitude) that will come your way when things don’t go as planned or seem to come and hit you blindly and at the wrong time(s).

 

Always realize that the adversity that you will face as you journey through life on many occasions will occur in order to teach you a lesson and prepare you for the journey that is still in front of you.

 

It may also occur to help you explain something that has occurred in your past in order to give you added strength to reach higher in your future!

 

Or another way of looking at it is that bad things may occur to give you added strength to fight your future battles–whether financial or otherwise!

 

All adversity that you face also creates an opportunity–if you believe it to be true.  The adversity that you face has meaning–but only the meaning that “you” give to it.   How you move forward from this point onward is largely determined by how you view adversity and your future outcomes based on the meaning that you give to what occurs and the effort that you are determined to expend as you press on.

 

Will you complain, make excuses and think about all of the reasons that you won’t (or can’t) reach your goals or will you create reasons within your mind of how you will move forward in spite of what happens in your life and think about all of the reasons within your mind of how you will move forward in a manner that you know will move you toward achieving your goals.

 

As you learn and grow financially (whether  by the effective use of this site or any other means) be sure to have your antennae up as to what is happening “within your mind” as you go through “difficult stretches”  in your life.  By understanding what is occurring within your mind you can use that knowledge to provide  added strength and direction as you move toward making your dreams (goals) come true.

 

Your goal on a daily basis is to show progress and not regress.

 

Your goal on a daily basis is to give it your best so your finances won’t be a mess.

 

Your goal on a daily basis is to pass the test as you pursue a new conquest.

 

Your goal on a daily basis is not to rest but to pursue your goals with more zest.

 

Your goal on a daily basis is not to guess or do less—but to be a success.

 

Your goal on a daily basis is to get out of your “comfort” nest and not live in jest.

 

In a nutshell, when difficult times occur,  you must still remain focused on achieving the goals that you have set, evaluate what is occurring so that you can learn and use what you learn for your future benefit.

 

You must gain the added strength that difficult situations will often present to you as you journey toward making your dreams come true.

 

Yes “goal-oriented behavior” encompasses all of the above and more…

 

Yes now is the time that you truly reach your goals, and open a new door…

 

 

All the best toward your goal-oriented wealth building success…

 

 

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Presence of Mind & Wealth Building

Presence of Mind & Wealth Building

 

Learn why your “presence of mind” when it comes to your financial matters are critical in the current economy…

 

In the current economy it is imperative that you have a mental understanding of what you need to do to make life more enjoyable for yourself and your family as you journey on planet earth.

 

You must have the right mindset that will allow you to see your future with clarity as you move toward achieving your goals.  By doing so you can attract what you desire in a timelier manner and move toward doing what you need to do in a more fluid manner (you won’t be so uptight) as you build wealth.

 

Just as the creator of TheWealthIncreaser.com had the “presence of mind” to create this site—it is the desire of TheWealthIncreaser.com that you will gain the “presence of mind” by learning and applying all that you need to build your wealth in a more efficient and effective manner from this day forward and throughout your lifetime!

 

In the same manner that the creator of TheWealthIncreaser.com put out three fake owls to keep away animals when a garden was created—and then attracted 3 real owls (with no intention of doing so) that appeared nightly for several days–so too can you attract what you desire.  The attraction of 3 owls occurred after only seeing three real owls in the past 10 years prior to that time.

 

In the same manner, if you prepare your mind (acquire the presence of mind) by gaining the right knowledge—so too can you attract what you desire as you build wealth.  In addition, you significantly increase the likelihood of achieving your goals and  living more abundantly in the current economy–or any economy.

 

In this discussion TheWealthIncreaser.com will show you how you can gain and apply the knowledge that you need to help make your wealth building efforts succeed as you proceed toward the goals that are most important in your life at this time—or as you plant a new seed.

 

You must have the presence of mind to attack (attract) your finances and react to your financial concerns in a manner that puts you in control—and that begins or will be a great starting or continuing point with the following 3 factors at the forefront or front of your mental thought process.

 

1) Understand Personal Finance Statements & Make Improvements where Necessary

2) Know Your Credit Management Style & Make Improvements where Necessary

3) Understand All Areas of Your Finances & Make Improvements where Necessary

 

1) Financial Statements—Do you know your current cash flow and how it affects your financial future?

 

Your mind must be present as you analyze your budget or cash flow statement, income statement, balance sheet and net worth statement or personal finance statements as they can provide the nucleus for you to achieve more throughout your journey on planet earth.

 

It is your responsibility to know your monthly income, know what you pay out monthly, know what you save monthly and know where and if you can or need to make changes (improvements) so that you can make life more enjoyable for yourself and your family.

 

2) Credit—Do you know your closing date, report date and billing date and do you have mastery of your credit?

 

If you don’t—you may not have the knowledge that is needed to manage your credit in the current economy—if you are one who desire or have the need to utilize credit at this time or at some point in your future.

 

 

When it comes to your credit card usage it is important that you always pay on time and it is also helpful to know the following dates as it relates to your credit management!

 

.

*Closing date = actual date the credit card issuer generate new bill and it is important to know this date, particularly if your goal is to avoid paying interest

*Report date = date your balance is reported to the credit bureau(s) and your balance may differ at the bureaus from what you think your balance is or the balance that you had on the closing date

*Billing date = date your bill is due–you must know this date and have a plan to pay by this date whether it be electronically or by mail

*Receiving date = date “you” receive your bill  whether electronically or by mail and it is important that you know this date if you desire to take control of your finances and always pay your bill in a timely manner

 

3) Finances—Do you know all areas of your finances that you must address—and are you addressing those areas?

 

It is imperative that you move along throughout your lifetime knowing all areas of your finances that you must address and not leaving your future up to chance or happenstance.

 

You must get “out in front” of your finances and put in the work to make real success a real reality.

 

You have many options for doing just that, however TheWealthIncreaser.com is of the opinion that this page and site has the potential to get you where you need to be—moreso, than any other site on the web.

 

However, you must realize that TheWealthIncreaser.com is biased with the above opinion.   Therefore, you must decipher the top financial websites and come to your own conclusion as to what approach or system will work best for you and your family.

 

Be sure to analyze them all in a careful, accurate, analytical and critical manner so that you have all that you need at your disposal to make a highly informed decision.

 

Conclusion

 

You must have the “thought process” or mental working knowledge that allows you to move forward at a pace that is not the norm.

 

You must have the right knowledge at the right time so that you cannot be taken advantage of financially by those who you engage with during your lifetime whether it be financial or otherwise.

 

You must use written plans, web pages that can provide you real results, books and e-books, and other media along with your ability to decipher what works best toward making your dreams come true—work for you.

 

Your “mind being present” at the right time and in the right way will help you achieve more—starting today.

 

It is the desire of TheWealthIncreaser.com that this discussion has given you a new and hopefully more prosperous way of looking at your future and the success that you can (will) attain.

 

All the best toward your new way of thinking–and future success…

 

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Floating Credit & Wealth Building

Learn how you can use credit to achieve more and avoid paying interest…

 

In the current economy many who have excellent credit or good to excellent credit are utilizing the credit system to float credit in a way that best serves their financial goal(s) and not the goal(s) of creditors.

 

Many “baby boomers” may remember floating checks for a number of days (for their benefit) in the past due to the slow processing of checks by the banking industry several decades ago. Fortunately, gen x (those born after the baby boomers), gen y ( millennials) and gen z (those who followed the millennials) don’t have to contend with the slow processing of the past as many financial transactions seem to happen instantly.

 

However, the opportunity to float credit (for your benefit) is available to you and all who have the desire to do so in the current economy.

 

In this discussion The Wealth Increaser.com will look at a number of ways that you can use credit to your advantage (float credit) so that you can avoid paying interest, gain rewards that fit your lifestyle—and use the card to make purchases that you normally make anyway—to achieve more credit wise—and in the management of your overall finances.

 

Avoid Paying Interest

 

If you have excellent credit you can use zero percent credit cards (many are available that provide up to 18 months of zero percent interest) to make purchases on grocery, lifestyle purchases, clothing and other purchases you normally make on a monthly basis.

 

In some instances credit cards can be used in ways you don’t normally use credit such as tuition and related fees, monthly utility payments and the like.

 

As long as you have the monthly income (discretionary income), a properly funded emergency fund and the mastery of your credit  at your disposal—you can use your credit card(s) to manage your finances to your benefit and pay zero percent interest as long as you pay off the balance within the promotional period (i.e. the 18 month period).  Keep in mind that you will have to make a “minimum payment” during the promotional period based on your balance.

 

Alternatively, you can use your credit card that does not have a zero percent promotion to charge in the same manner discussed above, however to avoid interest you would have to pay off your balance monthly (usually within 30 days).

 

You can also use your creativity to come up with other ways that you can avoid paying interest by effectively using credit—based on your unique financial position and your future goals.

 

For example, if your goal was to purchase a vehicle, house or other major purchase you might want to do that first—then start avoiding the payment of interest based on the above strategies.  In short, it all depends on your outlook for your future and how you want to go about achieving your future goals.

 

Use Reward Cards More Effectively

 

If you have excellent credit you can use reward cards to reward yourself for utilizing the card and get the perks that you desire or may find to be of benefit to you and your family.

 

If you are a frequent flyer you can find a number of reward cards (including many that are issued by the airliner) that will assist you. If you like to eat out a lot, purchase grocery, gas, household goods, furniture and the like—you can find reward cards that will reward you at various levels when you use them.

 

We all have a purpose for our life and the direction that we all take will differ.  Many credit card issuers recognize this reality and offer perks or rewards in many forms that are designed to entice you to make purchases with their card.  As long as you are wise in your approach and you have a handle on your finances–you can make reward cards work for you and not against you during your lifetime.

 

Manage Your Credit & Finances on Purchases You Normally Make

 

You can use zero percent cards, reward cards and make the decision to manage your credit more efficiently by utilizing your credit in a wise manner.

 

You already know that you must eat on a daily basis, take transportation or travel to various destinations, purchase household items etcetera—so why not do that and at the same time avoid paying interest and make one (or a few depending on how many credit cards you use) monthly payment(s) for all of those items at one time—thus helping you manage your finances more efficiently and in many cases more effectively.

 

You can also use this approach to see where you are spending on various categories on a monthly basis as many credit card issuers will provide you a breakdown of where spending on the credit card went.

 

In addition to a helpful monthly breakdown of your credit activity by category many credit card issuers will also provide you a helpful chart and possibly tips and other promotions based on your spending habits.

 

You can use this information for budgeting and planning your future in a more precise manner.  This information can help you get on a serious path to managing your finances more comprehensively throughout your lifetime if you are not doing so at this time.

 

Conclusion

 

If you have excellent credit and a meaningful understanding and handle on your current finances you can use many strategies to get out in front of your credit usage.  It is imperative that you have analyzed your cash flow, established a sufficient emergency fund and analyzed your credit and finances  in a comprehensive manner prior to using the “floating credit” strategy mentioned in this discussion.

 

You can choose to float credit and build wealth more efficiently as one of many strategies in the overall planning of your financial future.

 

If you are one who likes to avoid the use of credit at all costs—you can continue to do so !    If you now have no credit card debt or you can pay off your credit cards (if you find yourself in the unfortunate position of owing credit card companies at this time) and then stop using credit–you can put yourself in position to get ahead financially!

 

However, if you desire to “float credit” in an effort to achieve more financially—it is ” the hope of TheWealthIncreaser.com that this discussion has given you some insight on how you can get it all started or continue to use credit to your advantage throughout your lifetime.

 

You don’t want to get in a position where creditors are in control and you are paying them interest on a monthly basis at anywhere from 10% to 25% by “carrying a balance” and not paying off the debt in a timely manner! 

 

You must avoid that scenario or put together a plan to get out of that scenario at the earliest time possible!

 

If you decide to apply for a zero percent interest card or a reward card be sure that you always pay on time  and you must be keenly aware of the effect that a new card will have on your credit utilization, credit time length, credit type and inquiries as a “hard pull” by creditor’s can pull your score downward some for a certain time period and negatively affect your credit file(s).  

 

Therefore, you want to use your best judgment if you anticipate a major purchase where your credit will be utilized in the near future as your credit and credit score may affect your ability to qualify for the loan or line of credit.

 

You may also not know your “credit limit” (the total amount of credit available for use on your card) until the hard pull of your credit is done and the card is granted to you in almost all cases.

 

Also, be aware of processing fees, convenience fees and other fees when you use your card in a non-traditional way such as at a public or private university, governmental agency, quasi-governmental agencies and the like as those fees can eat away at your zero percent interest and/or rewards in a way that makes paying with credit less appealing when the fee(s) are factored in.

 

In addition, look for the opportunity to “triple dip” by finding a card that offers zero percent for a time period certain, rewards and the ability to help you manage your credit more effectively and efficiently by providing you the monthly breakdown of your spending activity and possibly your credit score—all with one card.

 

However, if you now owe credit card companies you must come up with a pay off or pay down plan so that you can use credit to your advantage by “floating credit” or “not utilizing credit” because you have the cash flow and/or net worth that allows you to make the decision to utilize or not to utilize credit—your choice—not creditor’s!

 

Or another way of looking at it is “you” are in control of your credit and financial future!

 

To keep it short and sweet, you have learned how to use credit cards in an intelligent, consistent and proactive manner so that you can achieve more throughout your lifetime and you now know how to make credit work for you and not against you and you are now on your way to managing your finances more responsibly by seeing your future with more clarity.

 

In addition, if your credit is not where you want or need it to be “at this time” you can start now on moving toward excellent credit by frequenting this site.

 

By doing so you can start on a real path to getting your credit right.

 

Isn’t it time you approach your credit in an intelligent, consistent and proactive manner so that you can achieve more throughout your lifetime.

 

All the best toward your “floating credit” success….

 

All About Credit

Credit Resources

Credit Improvement

Credit Card Payoff

More on Reward Cards

The Three Step Structured Approach

 

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Reward Cards & Your Success

Credit Management

College Graduates & Credit

College Graduates & Wealth Building

All About Credit

Credit & Insurance

The 3 Step Structured Approach to Managing Your Finances

Credit Improvement

 

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Cash Flow & Investing in Your Future

Learn how you can invest and build wealth more efficiently in the current economy by knowing where your money goes on a monthly basis…

 

It is important that you have a workable understanding of how your monthly cash flow will affect your future outcomes.

 

In this discussion TheWealthIncreaser.com will look at ways that you can effectively manage your cash flow in the current economy, as you age–and during your retirement years.

 

By knowing this information at this time (right now) you can more effectively plan your and your family’s future so that you can take the vacations that you desire, do more on a monthly basis with your kids and grand-kids, donate time and money to your favorite charitable organization(s), enjoy entertainment in a way that makes your life more meaningful and pursue other goals that are dear to you and your family.

 

There is nothing that you can do to change certain things in your life that may have happened to you in the past.

 

However, if you make the decision at this time to look at your finances and your future in a more intelligent, consistent and proactive manner you CAN change the outcome of your investments and live the type of retirement that you desire.

 

You Must Know Your Current Cash Flow

 

It is imperative that you at this time take a serious look at your monthly inflows and outflows of income and expenses from all sources.

 

Does your income exceed your expenses on a monthly basis or is there a shortfall? 

 

This is something that you must know so that you can build wealth and invest in your future in a way that will ensure that you will attain realistic results.

 

You must at this time define your monthly income, gather your monthly expenses and determine if you have discretionary income that you can use to save more efficiently or pursue other goals that you may have.

 

With your knowledge and understanding of just this information you will put yourself well ahead of those in the general population and you will be showing a serious intent to improve your living condition for yourself and your family.

 

You Must Know Your Cash Flow at the Various Stages in Your Life

 

Now that you have a handle on your current financial condition as it relates to your monthly cash flow, you can now plan for your future.

 

Will you make a serious commitment to know where your monthly income and expenses are at this time–or will you procrastinate?

 

You can now pay off or pay down your debt, make the decision to get more income, increase your retirement contributions, and make other adjustments based on your lifestyle and where you want to go in your future.

 

You Must Know Your Cash Flow During Your Retirement Years

 

After you have invested in your future in a way that would take you toward your retirement number you must know your income from all sources along with your monthly expenses during your retirement years.

 

Did you plan appropriately and in a manner that allows your monthly income from all sources to pay your monthly expenses for the next 20 to 30 years (your remaining life expectancy) or is it likely there will be a shortfall that would force you to continue working?

 

Will you have a substantial excess that will allow you to leave a legacy for your heirs?

 

Those and other probing type questions are what you must ask yourself and answer appropriately during this time so that you won’t have to look back in regret during your retirement time.

 

Conclusion

 

It is imperative that you have an overview of your life stages at this time so that you can invest in a wise manner at the various stages in your life.

 

It is also important that you measure the success that you achieve at the various stages in your life on your ability to pay your monthly expenses during your retirement years in a manner that allows you to do just that—and have money left over for the enjoyment of life that you desire during your retirement years.

 

Will you have the monthly income from all sources (social security, 401k, pension income, investments and other sources) that will allow you to live at a comfortable level after the payment of all of your mandatory monthly expenses?

 

If you don’t see it happening after sincerely analyzing your finances at this time—NOW is the time to alter your planning to make it happen!

 

In addition to aiming for your “retirement number” be sure to also aim for your “ability to pay your monthly bills” and have cash left over for the enjoyment of life on a monthly basis.

 

Your “retirement number” is a lofty goal, however it may not bring you the monthly income that you need to pay your expenses and live at the level that you desire during your retirement years or your remaining years on earth based on your life expectancy.

 

Be sure to look at your finances in a comprehensive manner at this time so that you will minimize or reduce any future surprise as it relates to your inflow and outflow of cash on a monthly basis.

 

If your monthly income does not look like it will cover your monthly expenses based on your analysis at this time, it is your responsibility to come up with more income or pay off or pay down your debt so that you can get your debt to a level that allows you to get the numbers on a monthly basis—as far as your income and expenses—to turn in your favor.

 

Will you need 60%, 75% or 85% of your current income to live at the level that you desire?

 

It is up to you at this time to determine the path that you will take as far as making your retirement years a more pleasurable experience as you complete your journey on planet earth.

 

Always remember that joy and confusion cannot live in the same house!  Make the decision now to see your retirement years with clarity by investing the time NOW to achieve and live the way that you desire LATER (during your retirement years).

 

Now is the time that you go after what you desire with real zest.

Now is the time that you give it your best.

 

You must at this time know–your cash flow!

You must at this time decide to pursue results that will show!

It is up to you to aim high or low!

Now is the time that you reap what you sow by planting (planning) in advance so “you” will know!

 

All the best to your cash flow and retirement success as you pursue your future with more zest…

 

Go to Calcutlator.net to calculate your current monthly cash flow number…

Go to T Rowe Price for free 30 second retirement projection calculator…

Go to Kiplinger.com for your retirement number calculator,,,

Go to 100 money saving tips that can help improve your cash flow…

Go to Net Worth & Wealth Building page on this site to learn about your Net Worth and how it relates to your Cash Flow,,,

 

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