I’ve written about this previously, but I feel it is exceptionally important to review it again as we enter in the Christmas season.
If you are highly focused on improving your financial situation, it can mean that the amount of money you have available for Christmas spending is greatly reduced. This means that you might have to use the word that all parents dread saying to their children – especially at Christmas – the word “NO.”
It is exceptionally difficult UNLESS you understand that saying NO right now will enable you to say YES to something far more important in the future! You see, saying NO right now provides you with incredible teaching moments for your children. When they ask “WHY?”, you get to have a great conversation with them. The conversation might go something like this:
CHILD: I want an iPod Touch for Christmas.
CHILD: Why not?
YOU: Because this year, Mommy and Daddy are focusing on getting our finances in order.
YOU: Because we want to be able to say “YES” more in the future. If we don’t say “NO” right now, it will be very difficult for us to ever say “YES” in the future to more important things. You see, by us saying “NO” right now, it is going to allow us to say “YES” to paying for your college education.
Do you see it? Do you really see it?
I am preparing to eat a bunch of great food today. Our family has several foods that are always on the menu:
- Oyster dressing
- Giblet dressing
- Mashed potatoes
- Cranberry Sauce
- Shrimp Cocktail
- Black and Green Olives
- Pickled Beets
I trust that everyone will have a wonderful Thanksgiving and will be reminded of everything we each have to be thankful for!
This is the final installment of this series, and I trust that it has been helpful to you! This final one is one that I am very passionate about.
#5 – Start A Successful Business
Of course, this is easier said than done. However, if you look around, there are TONS of successful businesses and someone started them! Why not you?
Do you have a marketable skill set? Do you have an idea that would allow you to serve customers in ways that they have never been served before? What can you do that people would recognize value in and be willing to pay for?
A business can allow you to win with money and put several zeros behind it! Starting a business can be one of the most rewarding things a person can do. It certainly has been that way for me!
This next part of this series can be painful, but the end result can be worth it!
#4 – Sell Possessions
What do you have that you could sell?
- Camera equipment
I have no idea what you possess, but it might make sense to sell it if you are flat broke! Let’s face it, no one likes to sell their stuff. We like stuff. However, if that stuff is preventing you from winning financially, it is time to wave goodbye to it!
Don’t worry, you will be able to buy it back later once you have began prospering – and probably at an incredible discount!
We’re continuing in this series “Top 5 Ways To Gain Financial Margin” and this next method can be tiresome and time-consuming, but it can be the springboard to substantial financial margin.
#3 – Increase Income
This seems obvious, but so many people do not even consider it! There are multiple ways to increase income – and while some of them might sound enjoyable or desirable – ANYTHING is better than living BROKE!
- Work overtime at current job
- Negotiate a pay raise
- Obtain a 2nd job
- Start a side business
- Invest something
- Write a book
- Dig up small trees in the ditch and sell for $3 each
- Rent out a part of your house
Anyone can do one or more of these, and it will increase income.
WARNING: If you do not have a plan for the extra income, it can very easily end up being spent. Be sure to be diligent and prepare a plan BEFORE spending any of it!