Posted by Brian Tracy on Dec 1, 2008
Perhaps the most powerful single factor in your financial success is your beliefs about yourself and money.
The Determinant of Your Success
Perhaps the most powerful single factor in your financial success is your beliefs about yourself and money. We call this the Law of Belief. It says simply this: Whatever you believe, with feeling, becomes your reality. Whatever you intensely believe becomes your reality. That we have a tendency to block out any information coming in to us that is inconsistent with our reality.
What Successful People Believe
What we’ve discovered is that successful people absolutely believe that they have the ability to succeed. And they will not entertain, think about, or talk about the possibilities that they’ll fail. They do not even consider the possibility of failure.
Positive Thinking Versus Positive Knowing
You always act in a matter consistent with your beliefs. The most important belief system you can build is a prosperity consciousness where you absolutely believe that you are going achieve your financial goals. We call this positive knowing versus positive thinking. Positive thinking can sometimes be wishing or hoping. But positive knowing is when you absolutely know that no matter what, you will be successful.
The Foundation of Willpower
Another principle related to your beliefs is willpower. We know that willpower is essential to any success. Willpower is based on confidence. It’s based on conviction. It’s based on faith. It’s based on your belief in your ability to triumph over all obstacles. And you can develop willpower by persistence, by working on your goals, by reading the biographies of successful people, by listening to audio programs, by reading books about people who’ve achieved success. The more information you take into your mind consistent with success, the more likely it is that you will develop the willpower to push you through the obstacles and difficulties you will experience.
Beat the Odds on Success
Remember that success is rare. Only one person in one hundred becomes wealthy in the course of a lifetime. Only five percent achieve financial independence. That means that the odds against you are 19-to-1. The only way that you’re going to achieve your financial goals is if you get really serious. To succeed, you must get serious. You must get busy. You must get active. You must get going. Remember, everything counts.
Resolve to Achieve Greatly
Self-mastery, self-control, self-discipline are essential for anyone who wants to achieve greatly. And control over your thoughts is the hardest exercise in self-mastery that you will ever engage in. See if you can talk and think about only what you desire and not talk or think about anything that you don’t want for 24 hours. Then you’ll see what you’re really made of. It’s a hard thing to do but with practice, you can reach the point where you are thinking about your goals and desires most of the time. Then, your whole life will change for the better.
Action Exercises
Here are two things you can do to build a belief system consistent with the financial success you desire:
First, continually repeat to yourself the words, pictures and thoughts consistent with your dreams and goals. Whatever you repeat often enough, over and over, becomes a new belief.
Second, set a goal for yourself to think and talk only about the things that you want for the next 24 hours. This will be one of the hardest things you ever do. But if you can keep your mind on what you want and off of what you don’t want for 24 hours, you can begin to change your entire future.
Goals!
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Tags: Financial Success
Posted by Brian Tracy on Nov 21, 2008
This is one of the most important of all the laws of money.
The Law of Investing – investigate before you invest. This is one of the most important of all the laws of money. You should spend at least as much time studying a particular investment as you do earning the money to put into that particular investment.
Check Every Detail
Never let yourself be rushed into parting with money. You have worked too hard to earn it and taken too long to accumulate it. Investigate every aspect of the investment well before you make any commitment. Ask for full and complete disclosure of every detail. Demand honest, accurate and adequate information on any investment of any kind. If you have any doubt or misgivings at all, you will probably be better off keeping your money in the bank or in a money market investment account than you would be speculating or taking the risk of losing it.
Money is Easy to Lose
The first corollary of the Law of Investing is: "The only thing easy about money is losing it." It is hard to make money in a competitive market but losing it is one of the easiest things you can ever do. A Japanese proverb says, "Making money is like digging with a nail, while losing money is like pouring water on the sand."
The Best Rule of All
The second corollary of this law comes from the self-made billionaire, Marvin Davis, who was asked about his rules for making money in an interview in Forbes Magazine.
He said that he has one simple rule and it is, "Don’t lose money." He said that if there is a possibility that you will lose your money, don’t part with it in the first place. This principal is so important that you should write it down and put it where you can see it. Read it and reread it over and over.
Time Equals Money
Think of your money as if it were a piece of your life. You have to exchange a certain number of hours, weeks and even years of your time in order to generate a certain amount of money for savings or investment. That time is irreplaceable. It is a part of your precious life that is gone forever. If all you do is hold on to the money, rather than losing it, that alone can assure that you achieve financial security. Don’t lose money.
Be Smart About Investing
The third corollary of the Law of Investing says: "If you think you can afford to lose a little, you’re going to end up losing a lot."
There is something about the attitude of a person who feels that he has enough money that he can afford to risk losing a little. You remember the old saying, "A fool and his money are soon parted." There’s another saying, "When a man with experience meets a man with money, the man with the money is going to end up with the experience and the man with the experience is going to end up with the money." Always ask yourself what would happen if you lost one hundred percent of your money in a prospective investment. Could you handle that? If you could not, don’t make the investment in the first place.
Action Exercises
Here are two things you can do to apply this law immediately:
First, think back over the various financial mistakes you have made in your life. What did they have in common? What can you learn from them? Accurate diagnosis is half the cure.
Second, invest only in things that you fully understand and believe in. Take investment advice only from people who are financially successful from taking their own advice. Play it safe. It’s better to hold onto your money rather than to take a chance of losing it, along with all the time it took you to earn it.
Negotiate the Best Deal
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Tags: Financial Success
Posted by Brian Tracy on Nov 7, 2008
You probably have the ability to produce and ear n easily twice as much as you are producing and ear ning today.
You probably have the ability to produce and ear n easily twice as much as you are producing and ear ning today.
Put Key Ideas Into Action
I have taught time management strategies to more than 100,000 people over the last few years and the successes these people have had have often been amaz ing. Many of them have doubled their output in as little as one or two days. One businessman in Philadelphia tripled his income and doubled the amount of time he spent with his family within twelve months. Another businessman from Montreal increased his income by 700% over a period of two years by disciplining himself to practice these principles every hour of every day.
Small Effects Yield Large Results
The good news is that even a small effort on your part to implement the very best of time management principles into your life will yield a tremendous return in increased productivity, performance and output. It is like stepping on the accelerator of your own life and moving yourself onto the fast track in your career.
Find out 21 Great Ways to Get Paid More and Promoted Faster.
Efficiency Starts At School
We usually learn how to work efficiently and effectively in our teenage years by doing our schoolwork and our homework in an excellent way and handing it in on time. If a young person does not learn how to work during their school years, he or she will have a tough time working when they actually take a paying job.
Most People Are Poor Workers
According to the studies, fully 50% of adults could not work a full day if their life depended upon it. They cannot stay on task. They are continually diverted and distracted into idle socializing, personal phone calls, shooting the breeze, arriving late, leaving early and taking too much time for coffee breaks and lunches. Time wasting consumes their day. Then they wonder why they are not entrusted with increased responsibilities and offered greater pay.
Be Paid More And Pro moted Faster
The fact is that if you do an excellent job in a timely fashion, you cannot help but be paid more and pro moted faster. We live in the first great meritocracy in human history. In a meritocracy, you are paid and rewarded purely on the basis of the valuable contribution you make to the lives and work of others. There are no glass ceil ings and no barriers to advancement.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, select the most valuable and important assignment you have to do right now, resolve to complete it, and start on it immediately.
Second, resolve to "work all the time you work" once you get started. Aim for 100% productivity. This could change your life.
21 Great Ways to Get Paid More and Promoted Faster
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Tags: Financial Success
Posted by Brian Tracy on Oct 24, 2008
Never Worry About Money Again
You must aim to reach the point where you have enough money so that you never have to worry about money again. The good news is that financial independence is easier to achieve today than it has ever been before. We live in the richest country at the richest time in all of human history. We are surrounded by more wealth and affluence than ever before. Your job is to get your fair share.
Financial Success Is Not An Accident
The Law of Cause and Effect applies to money as much as to any other subject. This law says that financial success is an effect. As such, it proceeds from certain, specific causes. When you identify these causes and implement them in your own life and activities, you will get the same effects that hundreds of thousands, and even millions of others have gotten. You can achieve whatever level of affluence you really want if you will just do what others have done before you to achieve the same results. And if you don’t, you won’t. It is as simple as that.
Your Beliefs Determine Your Success
There is perhaps no other area where universal laws are more in evidence than in the acquiring and keeping of money. In America today, there are several million men and women who have started with nothing, or deeply in debt, and achieved financial independence. Their attitudes and behaviors have been studied in great depth. We now know the keys to wealth creation better than ever before. And what we know is that your most cherished beliefs on the subject of money will be the primary determinants of how much you acquire and how much you keep over the course of your working lifetime.
Your Primary Aim in Life
Your primary aim in life should be the achievement of your own happiness. However, happiness is something that exists naturally in the absence of fears, doubts and negative emotions. One of the factors that most deprives you of happiness is worry about money. And, by the way, when we talk about money worries, we’re not referring to your having too much. The problem is virtually always that people feel that they have too little money and their lives are suffering as a result.
Build a Financial Fortress
Perhaps the greatest single fear, the one that causes you more distress and unhappiness than anything else, is the fear of failure. In the area of money, you experience this as the fear of poverty and the fear of loss. Since one of the deepest needs of human nature is security, any threat to your security, real or imaginary, can cause you tremendous stress.
The The Way to Wealth System will help you become financially independent!
You can only free yourself from the fears of poverty and failure by achieving a specific level of financial worth and then by building a fortress around it so that you are safe and impregnable. This achievement of financial independence is a key responsibility of adult life. No one else will do it for you.
Action Exercises
Here are two things you can do immediately to implement the Law of Cause and Effect in your financial life:
First, begin today to implement the causes of financial success in our society. This requires that you spend less, save more, invest carefully and strive toward financial independence.
Second, study other people who are financially successful who have started from little or nothing. Find out what they did to become financially independent and discipline yourself to do the same things.
The Way to Wealth System
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Tags: Financial Success
Posted by Brian Tracy on Oct 21, 2008
The rate of change is not only faster than ever before, but it is discontinuous.
Throughout most of human history, we have been accustomed to evolution, or the gradual changing and progressing of events in a straight line. Sometimes the process of change was faster and sometimes it was slower, but it almost always seemed to be progressive, from one step to the other, allowing you some opportunities for planning, predicting and changing.
Today, however, the rate of change is not only faster than ever before, but it is discontinuous. It is taking place in a variety of unconnected areas and affecting each of us in a variety of unexpected ways. Changes in information processing technologies are happening separately from changes in medicine, changes in transportation, changes in education, changes in politics and changes in global competition. Changes in family formation and relationships are happening separately from the rise and fall of new businesses and industries in different parts of the country. And if anything, this rate of accelerated, discontinuous change is increasing. As a result, most of us are already suffering from what Alvin Toffler once called, “future shock.”
You can’t do very much about the enormity of these changes, but the one thing that you can do is to think seriously about yourself and your basic need for security and stability. In no area is this more important than in the areas of job security and financial security. You must give special attention to your ability to make a good living and provide for yourself in the months and years ahead.
Above all, to position yourself for tomorrow, you must think continuously and seriously about your work today, your earning ability , and the work that you will be doing one, three, and five years from today. You must plan to achieve your own financial security, no matter what happens.
Charles Kettering said that you should give a lot of thought to the future because that is where you are going to spend the rest of your life. One of the greatest mistakes that people can make, and the one with the worst long-term consequences, is to think only about the present and give very little thought to what might happen in the months and years ahead.
When our grandfathers started work, it was quite common for them to get a basic education and then go to work for a company and stay with that same company for the rest of their working lives. When our parents went to work, it was more common for them to change jobs three or four times during their lifetime, although it was difficult and disruptive.
Today, with increased turbulence and change in the national and global economy, a person starting work can expect to have five full-time careers between the ages of 21 and 65, and 14 full-time jobs lasting two years or more. According to Fortune Magazine, fully 40 percent of American employees in the 21st Century will be “contingency” workers. This means that they will never work permanently for another company. They will continue to move as needed, from company to company, from job to job, earning less money than full-time employees and accruing very few, if any, benefits in terms of health care and pension plans.
Imagine what your job will look like five years from today. Since knowledge in your field is probably doubling every five years, this means that fully twenty percent of your knowledge and your ability in your field is becoming obsolete each year. In five years, you will be doing a brand new job with brand new skills and abilities. Ask yourself, “What parts of my knowledge, skills and work are becoming obsolete? What am I doing today that is different than what I was doing one year ago and two years ago?” What are you likely to be doing one year, two years, three years, four years and five years from today? What knowledge and skills will you need and how will you acquire them? What is your plan for your economic and financial future?
We are now in the knowledge age. Today, the chief factors of production are knowledge and the ability to apply that knowledge to achieving results for other people. Your earning ability today is largely dependent upon your knowledge, skill and your ability to combine that knowledge and skill in such a way that you contribute value for which customers are going to pay.
The Law of Three says that you must contribute three dollars of profit for every dollar that you wish to earn in salary. It costs a company approximately double your salary to employ you in terms of space, benefits, supervision, and investment in furniture, fixtures, and other resources. For a company to hire you, they have to make a profit on what they pay you. Therefore, you must contribute value greatly in excess of the amount you earn in order to stay employed. To put it another way, your earning ability must be considerably greater than the amount you are receiving, or you will find yourself looking for another job.
To position yourself for tomorrow, here is one of the most important rules you will ever learn: “The future belongs to the competent.” The future belongs to those men and women who are very good at what they do. Pat Riley, in his book The Winner Within, wrote that, “If you are not committed to getting better at what you are doing, you are bound to get worse.” To phrase it another way, anything less than a commitment to excellent performance on your part is an unconscious acceptance of mediocrity. It used to be that you needed to be excellent to rise above the competition in your industry. Today, you must be excellent even to keep your job in your industry.
The marketplace is a stern task master. Today, excellence, quality, and value are absolutely essential elements of any product or service, and of the work of any person. Your earning ability is largely determined by the perception of excellence, quality, and value that others have of you and what you do. The market only pays excellent rewards for excellent performance. It pays average rewards for average performance, and it pays below average rewards or unemployment for below average performance. Customers today want the very most and the very best for the very least amount of money, and on the best terms. Only the individuals and companies that provide absolutely excellent products and services at absolutely excellent prices will survive. It’s not personal. It’s just the way our economy works.
To earn more, you must learn more. You are maxed out today at your current level of knowledge and skill. However much you are earning at this moment is the maximum you can earn without learning and practicing something new and different.
And here’s the rub. Your accumulated knowledge and experience is becoming obsolete bit by bit, day by day. The knowledge in your field is doubling every three to five years. That means that your knowledge must double every three to five years just for you to stay even.
The solution to the dilemma of unavoidable change and restructuring is continuous self-development. Your personal knowledge and your ability to apply that knowledge are your most valuable assets. To stay on top of your world, you must continually add to your knowledge and your ability. You must continually build up your mental assets if you want to enjoy a continuous return on your investment. And only by building on your current assets do you stop them from deteriorating.
By engaging in continuous self-improvement, you can put yourself behind the wheel of your own life. By dedicating yourself to enhancing your earning ability, you will automatically be engaging in the continuous process of personal development. By learning more, you prepare yourself to earn more. You position yourself for tomorrow by developing the knowledge and skills that you need to be a valuable and productive part of our economy, no matter which direction it goes.
Tags: Financial Success
Posted by Brian Tracy on Oct 17, 2008
The way you think about money will determine how much of it you accumulate more than any other factor.
Your attitude toward money affects your emotions and your motivations.
Do You Feel That You Have Enough?
In psychology, money is what is called a "deficiency need." This means that it only motivates you when you feel deficient in it, when you don’t feel that you have enough. Above a certain level, when you feel that you have enough, it is no longer a motivator. Put another way, when you have enough money, you don’t think about it very much. But when you have too little, you think about it all the time.
Determine Your Attitude Toward Money
The effect money has on your emotional life depends on your attitude toward it. If you feel that you have too little, money can become an obsession for you. It can dominate your thinking, feelings and actions. Arguments over money are a major reason for marital breakdown. Problems with money are the primary reason for business failure, the ruination of friendships and psychosomatic illnesses of all kinds. It’s not uncommon for people to even kill themselves over money problems.
The 21 Absolutely Unbreakable Laws of Money will help you with your money matters.
Practice the Reality Principle
The Reality Principle applies especially to matters of money. This principle states that, "You must deal with life as it is, not as you wish it were, or could be." Most people live in a world of partial self-delusion, with regard to money. They wish, hope, and pray about their financial futures while at the same time, deep in their hearts, they know their dre ams will never mat erialize. In Lewis Carroll’s book, Alice in Won derland, one of the characters says quite happily that he is quite capable of believing several impossible things before breakfast each day. In the same way, many people believe quite impossible things about money and then they wonder why they are having so many financial problems.
Overcome Deep Seated Beliefs
One of the most common obstacles to achieving financial ind ependence is a deep-sea ted belief that somehow money is wrong and that people who have a lot of it are inherently evil. This belief is not based on any factual foundation. It goes back to early childhood conditioning when the growing child is often told this because of other people’s desire to rationalize away their own financial failures.
Money Is Good
The fact is that money is good. It takes money to buy homes, cars, clothes, food and most of the good things in life. Money has an energy of its own and it is largely attracted to people who treat it well. Money tends to flow toward those people who can use it in the most productive ways to produce valuable goods and services, and who can invest it to create emp loyment and opportunities that benefit others. At the same time, money flows away from those who use it poorly, or who spend it in non-productive ways.
Action Exercises
Here are two things you can do immediately to improve your attitude toward money:
First, be perfectly honest to yourself with regard to money and to the amount you want to acquire in life. Pretending that you don’t care about money when you really do will only make you unhappy.
Second, begin today to think about all the wonderful things that you could have in your life if you had more money. Then, begin to think of all the things that you could do to increase the amount you ear n and the amount you keep.
The 21 Absolutely Unbreakable Laws of Money
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Tags: Financial Success
Posted by Brian Tracy on Oct 6, 2008
The Law of Accumulation: how your financial fortune accumulates slowly over time and then becomes enormous, like a snowball.
The Law of Accumulation: Every great financial achievement is an accumulation of hundreds of small efforts and sacrifices that no one ever sees or appreciates.
Develop Discipline
The achievement of financial independence will require a tremendous number of small efforts on your part. To begin the process of accumulation, you must be disciplined and persistent. You must keep at it for a long, long time. Initially, you will see very little change or difference but gradually, your efforts will begin to bear fruit. You will begin to pull ahead of your peers. Your finances will improve and your debts will disappear. Your bank account will grow and your whole life will improve.
Build Up Momentum
The first corollary of the Law of Accumulation says: "As your savings accumulate, you develop a momentum that moves you more rapidly toward your financial goals."
It is hard to get started on a program of financial accumulation, but once you do get started, you find it easier and easier to keep at it. The "momentum principle" is one of the great success secrets. This principle says that it takes tremendous energy to overcome the initial inertia and resistance to financial accumulation and get started, but once started, it takes much less energy to keep moving.
The Universal Laws of Success and Achievement will help you accumulate all that you desire!
Start Slow, Finish Fast
The second corollary of the Law of Accumulation says, "By the yard it’s hard, but inch by inch, anything’s a cinch."
When you begin thinking about saving 10 or 20 percent of your earnings, you will immediately think of all kinds of reasons that it is not possible. You might be up to your neck in debt. You might be spending every single penny that you earn today just to keep afloat.
If you do find yourself in this situation, instead of saving 10 percent, begin saving just 1 percent of your earnings in a special account, which you refuse to touch.
Increase As You Go Along
This small amount will begin to add up at a rate that will surprise you. As you become comfortable with saving 1 percent, increase your savings rate to 2 percent, then 3 percent, then 4 percent and 5 percent and so on. Within a year, you will find yourself getting out of debt and saving 10 percent, 15 percent and even 20 percent of your earnings without it really affecting your lifestyle.
Action Exercises
Here are two things you can do to apply this law immediately:
First, decide upon your long-term financial goals and then resolve to work toward them one step at a time. The first steps are the hardest and you must discipline yourself to avoid backsliding into old habits.
Second, practice the law of accumulation in other parts of your life as well. Resolve to master a subject one page at a time. Lose extra pounds one ounce at a time. Learn a language one lesson at a time. The cumulative effect can be enormous.
The Universal Laws of Success and Achievement
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Tags: Financial Success
Posted by Brian Tracy on Sep 19, 2008
There are two great principles for achieving financial success.
The first Principle is what we call the law of attraction. The law of attraction says that you are a living magnet. It says that your thoughts create a force field of energy that radiates out from you and attracts back into your life people and circumstances in harmony with them. Any thought you have, combined with an emotion, positive or negative, radiates out from you and attracts back into your life the people, circumstances, ideas and opportunities consistent with it.
How to Attract the Success You Desire
Many people feel that this is perhaps the most important of all mental laws. It says that if you have a very clear idea in your mind of your desired goal, to become wealthy, and you can hold that idea in your mind on a continuing basis, you will inevitably draw into your life the resources that you need in order to achieve it. Every person who has become wealthy or successful has become wealthy and successful as a result of holding the idea of wealth and success in their mind long enough and hard enough, until they drew into their lives the resources they needed to accomplish it.
Your World Reflects Your Thoughts
The second principle is called the law of correspondence. This mental law is very powerful. It says, "as within, so without." It says that your outer world is like a mirror that reflects back to you what is going on in your inner world. And this law of correspondence says that everything that happens outside of you corresponds to something that’s going on inside of you. When we say that your outer world is a reflection of your inner world, we mean both at a conscious and at a subconscious level.
The Law of Attraction — In Action LIVE Teleseminar will teavh you to attract what you desire!
Visualize Your Goals Clearly
If you consciously believe that you have the ability to achieve your goals and you can hold a picture of those goals clearly in your mind long enough and hard enough, eventually your outer world will correspond with it.
Three Reflections of Success
There are three places where we see this law of correspondence. First of all, your outer world of people will correspond exactly with your own attitude. You will always see your attitude reflected back to you in the faces and the behaviors of the people around you. If you have a positive, optimistic attitude, people will respond to you almost immediately, even before you open your mouth, in a positive and cheerful way.
Relationships Show You Who You Are
The second area where we see the law of correspondence is in your relationships. Your relationships will always mirror back to you exactly the kind of a person you are. When you are happy and optimistic and at peace, your relationships will be happy and harmonious and loving. But when your thinking is disrupted or negative for any reason, consciously or unconsciously, this will be immediately reflected in your relationships.
Inner and Outer Wealth
The third place you see the law of correspondence is with regard to your wealth. Your external world of wealth and financial accomplishment will be a mirror image of your inner world of preparation. The only part of the equation that you can control is your conscious thoughts, and if you can keep your conscious thoughts on what you want, on your images of wealth and affluence, eventually your external world of reality and experiences will reflect it back to you.
Action Exercises
Here are two things you can do to apply these principles in your financial life:
First, guard your thoughts carefully. Whatever you think about, combined with the emotions of desire or fear, you will attract into your life. Be sure that you are attracting what you want by continuing to think only about what you want.
Second, keep feeding your mind with new information, ideas and pictures of the person you want to be and the life you want to live. By creating this inner attitude of mind, you change the outer aspects of your reality.
The Law of Attraction — In Action LIVE Teleseminar
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Tags: Financial Success
Posted by Brian Tracy on Sep 12, 2008
The starting point of all riches is the development of a prosperity consciousness.
You must become a financial success in your thinking long before you achieve it in your reality. Both poverty and riches are the result of a state of mind, and the most important single step you ever take on the road to wealth and financial independence is the decision to change your thinking, to impress into your mind an unshakable belief that you can and will achieve your financial goals. This must happen before anything else happens.
Think And Grow Rich
When I was growing up, I was fascinated by stories of successful men and women and how they made and lost their fortunes, and then made them over again. I read about the importance of a prosperity consciousness in the book, Think And Grow Rich, by Napoleon Hill, several times. But I never fully understood what it meant until about five years ago. Then it hit me and I’ve never been quite the same since. Every aspect of my life has improved dramatically, especially in the area of accumulating wealth, since I finally understood what is meant by a prosperity consciousness.
Two Great Discoveries
Here are two of the most exciting principles ever discovered in the long search by mankind for the secrets of health, happiness and great personal wealth.
All Causation is Mental
The first principle is this. All causation is mental. That means that everything that you are or ever will be will be a result of how you use your mind. You are merely a mind with a body to carry it around with. The entire man made world that you see is simply an expression of thought. Your entire life is an expression of your own thinking. And since the quality of your thinking determines the quality of your life, if you improve the quality of your thinking, you must, you will, inevitably improve the quality of your life.
Change Your Thinking, Change Your Life and see results!
The Law of Expectations
The second principle is what we call the law of expectations. This law says that whatever you expect with confidence, positive or negative, becomes your reality. If you confidently expect to succeed, if you confidently expect to learn something from every experience, if you confidently expect to become wealthy as a result of applying your talents and abilities to your opportunities and you maintain that attitude of confident expectations long enough, it will become your reality. It will give you a positive optimistic cheerful attitude that will cause people to want to help you, and will cause things to happen the way you want them to happen.
Action Exercises
Here are two things you can do immediately to practice these principles in your day to day life:
First, start thinking today in a positive, optimistic, confident way about personal and financial success. Continually imagine what differences it would make in your life if you were financially independent. This is the starting point of developing a prosperity consciousness.
Second, develop your own attitude of positive expectations. Look for the good in every situation. Look for the valuable lesson in every setback or difficulty. Be positive and cheerful about everything that happens and you will be amazed at the difference it makes in your life.
Change Your Thinking, Change Your Life
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Tags: Financial Success
Posted by Brian Tracy on Aug 29, 2008
Why People Succeed or Fail
Parkinson’s Law is one of the best known and the most important laws of money and wealth accumulation. It was developed by English writer C. Northcote Parkinson many years ago and it explains why most people retire poor.
The Way the Law Works
This law says that, no matter how much money people earn, they tend to spend the entire amount and a little bit more besides. Their expenses rise in lockstep with their earnings. Many people are earning today several times what they were earning at their first jobs. But somehow, they seem to need every single penny to maintain their current lifestyles. No matter how much they make, there never seems to be enough.
The Key to Financial Success
The first corollary of Parkinson’s Law says: "Financial independence comes from violating Parkinson’s Law."
Parkinson’s Law explains the trap that most people fall into. This is the reason for debt, money worries and financial frustration. It is only when you develop sufficient willpower to resist the powerful urge to spend everything you make that you begin to accumulate money and move ahead of the crowd.
Become financially independent with The Way to Wealth System
Slow Down Your Spending
The second corollary of Parkinson’s Law is: "If you allow your expenses to increase at a slower rate than your earnings, and you save or invest the difference, you will become financially independent in your working lifetime."
This is the key. I call it the "wedge." If you can drive a wedge between your increasing earnings and the increasing costs of your lifestyle, and then save and invest the difference, you can continue to improve your lifestyle as you make more money. By consciously violating Parkinson’s Law, you will eventually become financially independent.
Action Exercises
Here are two things you can do to apply this law immediately:
First, imagine that your financial life is like a failing company that you have taken over. Institute an immediate financial freeze. Halt all non-essential expenses. Draw up a budget of your fixed, unavoidable costs per month and resolve to limit your expenditures temporarily to these amounts.
Carefully examine every expense. Question it as though you were analyzing someone else’s expenses. Look for ways to economize or cut back. Aim for a minimum of a 10 percent reduction in your living costs over the next three months.
Second, resolve to save and invest 50 percent of any increase you receive in your earnings from any source. Learn to live on the rest. This still leaves you the other 50 percent to do with as you desire. Do this for the rest of your career.
The Way to Wealth System
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Tags: Financial Success
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