Your Habits May Be Keeping You Broke

Your habits may be keeping you broke!

One of the wealthiest men in America, John Jacob Astor, once stated, “Wealth is largely a result of habit.”

Astor created his wealth during the Industrial Revolution, yet his message as just as true today as it was then. In my opinion, Astor’s quote may also apply to poverty, or just getting by in life. Sadly, the truth ain’t always pretty, but here it is:

Where you are at today is the result of habit.

To achieve financial wealth you need to take an objective look at your habits. Are you in the habit of spending more than you earn? Or, are you in the habit of tucking a piece of each paycheck into a savings account or investment? The habit of saving is the bedrock to financial success, so much so that W. Clement Stone claimed your ability to save is a prerequisite to creating personal wealth.

3 Habits That Wreak Havoc On Your Finances:

1. Buying things that you don’t need that always depreciate in value, such as a new car, recreational vehicle, or the latest and greatest living room furniture. Robert Kiyosaki referred to these things as “doodads” in his book Rich Dad, Poor Dad.

2. Failing to recognize or acknowledge the power of the Internet to help you create additional income.


3. Squandering your hard-earned money on things or recreational activities that provide instant gratification while ignoring the long-term implications of not investing for the future.

Wealthy people make creating wealth a priority in their lives. They accept personal responsibility for their success, create goals, and use money to build businesses, support charities, and enjoy life.

You could argue that the wealthy were lucky enough to be born into a wealthy family, but the statistics state otherwise. Only 15% of the wealthy households in America attribute their wealth to inheritances. That means 85% of the wealthy population earned their wealth through hard work, wise investments, and successful businesses. In a sense they found something that worked and repeated it over and over—kind of like a habit, you might say.

Wealthy people habitually do those things that create wealth. You can join this elite group by developing new habits, such as starting a home-based business using the power of the Internet. Today you have access to the most powerful marketing system in the history of humankind—the Internet. Using the Internet and exploring sights such as the one listed in my bio, entrepreneurs have literally gone from rags to riches overnight.

Change your habits and change your financial future.

Ron Taylor
http://www.wealthsearch.org

Creating Wealth In 3 Steps

Creating wealth comes easier to those that can do these three things.

Achieving wealth in America is not about how much you earn, but how wisely you use what you earn. This article is aimed at helping you to both increase your income, and manage your money properly. Among other things, you will learn that spending more than you earn in an effort to impress friends and neighbors with your material possessions is a recipe for financial disaster. Additionally, lacking the patience to invest for the long-term, develop action oriented goal statements, and failing to protect yourself with proper insurance and legal advice, are all indicators of poor financial management. Again, it’s not what you earn, but what you do with it that matters.

When it comes to wealth building and any business endeavor, one of the biggest obstacles you will encounter is the programming of your parents, friends, school, and media. Popular opinion has taught us that wealth and success comes to those who are lucky, or cheats. But these are all myths. In fact, over 85% of wealthy people in America earned their wealth through hard work, small business ownership, and careful investing.

One standard measurement of wealth is a six-figure income, which pertains to the number of digits in your annual income. A six-figure income equals anything above $100,000. According to the U.S. Census Bureau, in 2004, the number of households with income between $100,000 and $149,999 exceeded 11 million, 3.5 million American households had income between $150,000 and $199,999, 1.3 million households had incomes between $200,000 and $249,999, and 1.7 million households had income above $250,000 per year.

Unfortunately, the wealth of America cannot simply be measured by income.
According to an article written by David Francis and published in the May 23, 2005 edition of Christian Science Monitor, nearly 20% of American households have either zero net worth, or actually owe more than they are worth. Furthermore, according to Francis, 25% of American households do not have sufficient cash reserves or other assets to support themselves above the poverty line for three months, and 33% of households do not even have an active bank account.

What ever happened to the land of opportunity?

Americans are killing themselves with uncontrolled spending, easy credit, and a complete lack of budgeting or saving skills.

To create wealth I recommend you start a home-based business, learn to spend less than you earn, and invest the profits from your business income and savings for long-term growth and asset protection. You can learn more about the process of creating personal wealth by visiting http://www.wealthsearch.org.

Middle East Arms For Peace

First off, let me say I support the military. I even spent a year in baghdad with the Army, and over 4 years total in the Middle East.

But, I'm confused by this $20 billion dollar weapons deal with Saudi Arabia, the Gulf Emirates, Egypt, and Israel. The U.S. claims it is for defense systems, but unless the deal is exclusively for air defense systems, it could easily be used for other things. Are we selling military hardware and technology to nations we may one day meet on the battlefield?

I know the argument for supporting allies in the region, and Iran will always be there as a threat, but let's not forget in the Middle East the enemy of my enemy is my friend. When the chips are down, it's the U.S. and Israel against the rest of the region.