Review: Chapter Twenty
If you are not rich, your
relationship to money is keeping your poor.
Your relationship to money is expressed
in three ways:
- Your prosperity consciousness or lack of
it.
- Your spending habits.
- Your earning strategy.
-
A prosperity consciousness:
Defined as feeling prosperous when you think about your relationship
to money.
-
Your spending habits:
An insatiable need for instant gratification
will usually end up in a negative cash flow,
and the resulting poverty consciousness will keep you in debt and poor. On
the other hand, spending less than you make creates a positive cash flow,
resulting in a prosperity consciousness that will make you rich.
-
Your earning
strategy: Almost no one becomes
wealthy from their trading-hours-for-dollars linear income. Your true
path to wealth will be in developing multiple streams of residual income.
...Hours for
$ or
...Residual Income
...Your
Earning Strategy
To feel prosperous in a way that has you attracting
money, you will need to establish a positive cash flow by spending less than
you make. In order to manage your cash flow you'll need to understand the
laws of money. For instance, The Spender's Law of Money
rules that:
Your expenses will always rise to meet the level of your
income,
until you rebel against your addiction to spending.
In this chapter, you'll learn the best way to
take charge of your spending habits. I'll be showing you how your current
earning strategy could be keeping you poorer than you want to be. And, I'll be
offering suggestions for changing your earning strategy.
Once you are fully in charge of all three ways you relate to money, you should be well on your way to becoming
wealthy.
