SEVEN (7) STEPS TO FINDING YOUR FINANCIAL FAST TRACK

1.      MIND YOUR OWN BUSINESS. This means fill out your own financial statement, set financial plan, and 5-year plan.

2.      TAKE CONTROL OF YOUR CASH FLOW. Determine which quadrant (E-mployed, B-usiness Owner, S-elf Employed, I-nvestor) you receive your income from today. Then determine which quadrant you want to receive the bulk of your income from in five years.

Pay yourself first. Put aside a percentage from each paycheck or payment. Deposit that money into an investment savings account. Do not take it out until you are ready to invest it.

Reduce your personal debt by cutting up credit cards, coming up with an extra hundred dollars a month, and putting that to your monthly payment of one of your credit cards. When you are completely debt-free, take the hundred dollars and put it in your investment savings account.

3.      KNOW THE DIFFERENCE BETWEEN RISK AND RISKY. Define risk in your own words. Ask yourself is relying a paycheck risky to you? Is having debt every month risky to you? Is owning an asset that generates cash flow into your pocket each month risky to you? Is spending time learning about financial education risky to you? Is spending time learning about different types of investments risky to you?

Commit 5 hours each week to do one or more of the following:

. Read the business page of your newspaper and the Wall Street Journal.

. Listen to the financial news on TV or radio.

. Listen to educational cassettes on investing and financial education.

. Read financial magazines and newsletters.

. Play the board game CASHFLOW.

4.      DECIDE WHAT KIND OF INVESTOR YOU WANT TO BE.

Type C Investors – Do not know very much about investing. They can only get rich if they marry a rich person or win the lottery.

Type B Investors – Ask “What do you recommend I invest in? Do you think I should buy real state? What mutual funds are good for me?

Type A Investors – Look for problems and solve them expecting to make returns of 25% to infinity.

5.      SEEK MENTORS AND ROLE MODELS. Who you spend your time with determines your future.

6.      MAKE DISSAPOINTMENT YOUR STRENGHT. In other words, in business you must expect to be disappointed. Be kind to yourself. Make mistakes so you will learn from them.

7.        BELIEVE IN YOURSELF AND START TODAY!

BY: ROBERT KIYOSAKI