My Wealth MasteryResources for Creating the Wealth You Deserve

If you’re looking into buying a house anytime soon, then you’ve probably heard the word “credit score” more times than you can count. Trouble is– not all of us have the best scores and that can mean high interest rates on loans or sometimes no loan at all. For anything you want that involves a credit score, here are a few tips to increase yours quickly!

Pay All Bills On Time
Before you pay anyone, it should be yourself first. Most experts will tell you this and they are 100% right, but it should only apply once you can pay yourself AND your bills. You should never let the colors on the bills change and credit scores are a great reason to avoid this with a passion. A great way to avoid late fees is to set up automatic payments with your online bank, if they offer it. Services like this generally range from $5-10/mo and are well worth the peace of mind they bring. By the way, payment history makes up the bulk of your credit score at around 35%.

The 30 Percent Rule
The rule states that you should never let your credit card balance go over 30% of the limit and also about 30% of your credit score depends on how much credit you have access to versus how much of a balance you actually have on it. Personally, I never use credit cards but for those of us that do– it’s important to remember that these should only be used for money we already have. If not, make sure you pay your debts are all paid off on time. Don’t ever pay the minimum, either!

Don’t Make Your Credit Cards History
Credit history makes up about 15% of your credit score, and the longer you have a credit account, the better your score will be. Always keep a credit history of at least a few years!

Quality, Not Quanitity
Having a few credit cards with a good history and no late payments is golden compared to a bunch of credit cards with no history. The latter indicates that you are in need of credit and are headed down a treacherous path of debt consolidation. Also, pay attention to how many times your credit report is requested. Around 10% of your credit score depends on this very factor and less is better in this case.

Secured Credit = Good
Loans such as mortgages, car loans, etc. are considered secured because they involve a good source of collateral (usually the object that you’re taking the loan out for). Unsecured loans like credit card debts, student loans, etc. are like poison because they involve a variable collateral (your income). Make sure you get rid of unsecured loans as soon as possible. The type of credit you use also makes up about 10% of your credit score.
Use these tips and you’ll be sure to increase your credit score and banks will love you. Good luck!

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What’s your relationship with money, have you ever thought about it?  How do you deal with small change, everyday purchases do you check the receipts and keep them?
How about larger sums of money, thousands, how do you deal with that?  Do you get emotional, fearful, excited or greedy?  I’ve recently been involved in the sale of some property for several thousand.  During this deal I found out a lot about my relationship with this quantity of money.
My emotions ranged from excitement from the initial deal, to fear it may fall through, to guilt over closing on a price more suited to me.  I know these emotions are crazy when looking at the logistics of the deal but I found it very enlightening to witness.
My personal conclusion on relationships with money is to stay emotionally detached.  Not to deny what I’m feeling when dealing with all quantities of money but to know that it has no place in the decision making and management of it.
Are you emotionally attached to money, how do you deal with it?

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The art of goal setting is that it is one of the most powerful processes that are used for personal planning. The actual stage of setting goals helps a person to realize where they want to go in life as an individual. By knowing exactly what they want to conquer in their life, they know where they have to concentrate their efforts. They will also know how to quickly spot the distractions that would normally cause a person to go astray and wonder off course. Not to mention, that properly set goals can be motivating and can also help a person to get into the habit of setting and achieving goals. A person that is working on their personal goals list can also help their self confidence build up fast.

Goal settings techniques are used by many people, some of the people that use goal setting techniques are athletes’, business people that are very successful, and people that want to be achievers in all fields of life. Goal setting techniques give a person the ability to have a vision into the future and motivation to conquer these goals in the short haul. They also help you to organize your time and your resources so that you can make the best out of your life and are able to achieve the goals that you have set for yourself.

The benefits of setting intelligent, clearly organized and defined goals are that you can estimate the time that it will take to achieve those goals and take pride in the fact that you are able to achieve those goals when you do. An individual then will be able to see progress in the making of these goals and what might have earlier seemed like a exhausting pointless journey. There are some guidelines that should be followed that will help you to sit effective goals.

The first thing that an individual should do is state each goal as a positive statement. Having the statement of a goal in a positive statement will allow the individual to focus on all the positive aspects on the goal.

Secondly, the individual should make sure that the goals that they are setting are precise and straight to the point. The individual will want to make sure that their goals state exactly what they want to accomplish and by what period of time they are want to accomplish it.

The next thing that the person will want to do is set their priorities so that they do not get mixed up. The individual should know exactly why they have chosen the particular goals and why they mean so much to them. This will help in the realization of the goals and will help them to understand why it is important to make a personal goals list.

Make sure that when you are making a goals list that you actually write the goals down and keep operational goals small. An individual should also set performance goals and not outcome goals, not to mention that the goals should be realistic and not some imaginary goals that cannot be set. Making a list of goals that a person has and wants to keep is a way that they can make sure that the outlook they have on life is able to achieve.

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People are always looking for the secret to become wealthy. There is a common belief that it’s going to be just one little change that will make the difference between living from paycheck to paycheck and having enough extra to buy the dream possessions without thinking about the cost. In one sense, it is as easy as one little change. In another sense, it’s a whole new way of living and thinking about wealth.

Many books have been written purporting to tell you how to become wealthy; most of them have some of the same tips in common. By having an attitude of wealth, you have already taken the first step toward becoming what you want to be.

• Wealth isn’t the amount of money in the bank; it’s about an attitude of success. A study of the wealthiest people in America found that they spend only a few minutes per day on average on matters such as their bank account balance. They’d rather be doing what gives them pleasure. The money and the possessions are often just a footnote.
• Keep a positive attitude. If you can conceive it and believe it, you will achieve it.
• Think differently than others. Challenge your mind by taking a procedure that has always been done that way and figure out a different way to do it.
• Decide what you dislike doing the most and stop doing it. If you continue to do a task in quiet desperation no matter what the reason, you will never have the energy left over to do what you want to do.
• The other side of the equation in number 4 above is to find what you love to do and find a way to make it your job. Another trite old saying which is nevertheless true is: “Find a job you enjoy doing and you’ll never work a day in your life.”
• Determine to find out who the real you is. That could be through career counseling, reading, personality tests, even sitting down with a ream of paper and start listing all the things you like to do. Some people never take the time to discover who they really are.
• Become an entrepreneur. The opportunities are endless, particularly with the internet reaching more people every day. Books, courses, counselors and mentors are available to help you realize your dream of financial success. If you invest in yourself, you will succeed both in self-esteem and in financial matters as well.
• Live and enjoy every minute. Some have called it “Live with passion.” No matter what your surroundings, find a way to enjoy them. If you do what you enjoy, you will always have something to enjoy. If you only live for money, you will never have time to enjoy it.
• Live in the present. If you never truly enjoy the life you have as you pass through, because you plan to enjoy something after you retire, or after this next bonus arrives or after the kids are out of the house, you will have a life that’s truly bleak.
• Help others achieve. Share your positive attitude with those around you, even if you don’t have a dime to share. Your positive attitude will attract friends and that’s the true meaning of a successful life.

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As the world gets more prosperous with time, people get richer and the standard of living improves accordingly. However, we do have to live with the fact that the moral standards of the world are at the most deplorable state compared to any era in the history of mankind. At that, it causes many people to wonder if it is true, as they say, that ‘money is the root of all evil’.

Money is just a commodity, and it is quite ridiculous to put the blame on a non-living object when things go wrong. It is true that after the advent of currency, the world has plunged into a series of great turmoil, whether politically, socially or environmentally. Multinational corporations of the world are stripping lands off the poor people, wars are fought out of ambitions of wealth and the environment has suffered from the advancement of industrialization. Not only on a worldwide scale, but it also brings personal misery to many who are wealthy. In light of all these misfortunes, it might seem that the accumulation of wealth is not exactly a most righteous thing to do.

However, it truly depends on the way you amass your fortune. If you are not gaining it by making someone else poorer, and your wealth is built by your own honest efforts to gain and save money, your fortune is justified by all standards of morality. Money is an infinite resource, and by gaining your own share of it, it does not make the world poorer altogether. In fact, financial investments can also be beneficial to the society, in that it opens up employment opportunities.

Nonetheless, it will be closer to the truth if you say, ‘love of money is the root of all evil’, because of all things, money does make a person more greedy. And it is common that those who are blinded by greed will resort to unscrupulous means to amass their fortunes. But if you ensure that your money is made most ethically, and distributed in such a way that it will benefit the society, your fortune can be a tremendous blessing to many.

Money is not an end in itself, just a means to an end. Many people think that money can buy happiness, but it is not true. Of all the things it can do, money can give you more choices and make your life less stressful. If you are wealthy, you can afford many new experiences, and choose the kind of life which you consider most suitable for you. While you don’t have to live with the burden of making ends meet, you can concentrate on the things that are truly dear to you, such as your family and friends. It gives you the liberty to appreciate life and makes the world a better place for all those around you.

Money is not evil in itself, and neither is wealth. If your conscience is clear that you have done no harm to anybody in your pursuit of wealth, then a fortune in your hands may be a blessing to the society. Make money the right way, and you will freely enjoy your wealth.

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A report by the Australian Securities and Investments Commission (ASIC) examining the under-insurance of home buildings in Australia found there are significant levels of under-insurance by Australian homeowners, especially against current rebuilding costs.

The ASIC report, ‘Getting home insurance right – A report into under-insurance’, was commissioned after the Canberra bushfires and suggests that Canberra homeowners affected by the fires were underinsured by between 27 per cent and 40 per cent on average.

The report also noted research which found that at least 27 per cent, and possibly as many as 81 per cent of homeowners are under-insured by 10 per cent or more. It also found that 24 per cent of consumers did not increase their insurance following renovations costing between $20,000 and $60,000. Source: Australian Securities and Investments Commission (ASIC) Fido 2005 Is your home underinsured? www.fido.gov.au/underinsured (accessed 8/09/2005)

The advice in the report suggested the following points:

Even if you think you have enough insurance, you should check your level of cover, particularly if you haven’t increased it for a number of years;

Online calculators are a practical way to work out how much to insure for but not all calculators are the same. The best calculators ask 20 to 30 questions about your home and take all the features identified into account in providing an estimate;

If you think you can’t afford to increase your cover, consider increasing your excess and reducing the premium, or shop around for the cheapest cover by using websites to obtain online quotes and compare prices;

If you have calculated your level of cover by taking the purchase price of your property, and deducting the value of the land, then you are at risk of being under-insured. This method generally produces a figure that is much too low; and

If you are doing renovations you need to increase your level of cover immediately.

Don’t wait until the next renewal.

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As you get more immersed in real estate investing, you’ll hear it over and over – real estate investment isn’t like any other kind of investment. Yes, at the core of all investments, there’s money and risk involved. The major difference is that in real estate investing, you are responsible for the work required to make a return on your investment.

If you want to be successful in real estate investing – and you wouldn’t be involved with it otherwise – there are some key pieces of information you need to know. This information holds no matter which area of investing you get involved in.

How To Locate Properties
Properties are the lifeline of real estate investing. Without them, there’s no money to be gained. Your success hinges on your ability to find properties. Not just any property, but solid investment opportunities, better known as deals. Just because you see a property for sale doesn’t mean it’s a good real estate investment. You’ll need to find out more information about each potential deal before you can say with certainty whether it’s a good investment deal or not.

How To Negotiate Deals
Once you start finding investment properties, you must be able to negotiate a deal that works in your favor. Otherwise, you’ll make little to no profit. In some cases, you might even incur losses. If you’re not good at negotiating, take some time to read a few books on the subject. Once you learn core negotiating skills, you’ll have the ability to go into a deal and work out the terms so everyone walks away happy, mostly yourself.

How To Invest
In its simplest form, investing is all about putting money in and getting more money out. In real estate investing, there’s quite a few ways to do this. Some investors like fix-and-flips, while others invest in distressed properties, or foreclosures. It’s best to decide early on the strategies you’d like to use. Learn as much as you can about those strategies – who has ownership of the property, what’s their goal, how much money is at their disposal. The better you understand the strategy, the easier it will be to invest in real estate.

The sooner you learn these key skills, the sooner you can start making money in real estate investing. There’s a lot of information available in books, magazines, and on the internet. Use as much of it as you need to learn the skills you need in real estate investing.

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One of the best methods to find below market value property is through advertising. Placing classified adverts in your local paper should be part of your overall game plan to locate motivated sellers.

A motivated seller is basically someone who needs to sell his/her property very quickly due to circumstances beyond his/her control.

These circumstances could have arisen through for example divorce, death or debt.

When anyone experiences any one of the above, they may be ‘forced’ to sell their house and more often than not will need to sell very quickly. It’s this speed of sale that is more important to the seller than the final price achieved. This is why a sale via an estate agent may not be the best option for the vendor of the property.

These motivated sellers often turn to adverts in local newspapers to look for prospective purchasers of their property. If you’re not advertising in that paper, you could be missing out.

If you are financially constrained, don’t buy a half page colour advert! Try a small black and white advert first. I’ve known simple monochrome adverts to work just as well as their colour equivalents.

Test the market by changing your headline every week until you find one that works best for you.

When first deciding on the wording of your adverts, it is best to look at what your competition is doing. Try and find adverts that appear every week and emulate their style. These adverts obviously work otherwise they wouldn’t be used over and over again.

One thing to try would be to literally ‘copy’ a successful advert that appears every week. All you need to do is change the contact number at the bottom of the advert. Done effectively, you will ‘legally steal’ half of the original advertisers market!

When it comes to advertising in the paper, please be aware that success will not come overnight. You need to be persistent in your efforts, and continually test your strategies.

Also, an advert that may work very well in one paper may be a dud in another. You can avoid making expensive mistakes by continually trying different variants of your advert. I can’t stress this enough.

Once you have a successful advertising strategy, you will find that you are dealing primarily with motivated sellers. This will enable you to grow your property business very quickly and with very little of your own money.

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If you find yourself over thinking everything, your fear of failure has caused you to fail. Do what you know, throw away worrying.  If your thoughts aren’t changing you, then experience will.  Go out and do something.  You can’t help but change, and you will most likely make a better choice next time.  Whether you fail or succeed in what you attempt to do, you will probably make better choices next time because of your new experience.

Stop Over Analyzing
When you over analyze something, you are actually cutting off your creativity, which is very valuable.  You cut off what is unique about who you are when you get into the mode of constantly questioning yourself.

Leave Your Fear Behind
Really, when you are questioning yourself and always waiting to take action, your doubting that you have good judgement, and that you were really created to have good ideas, naturally flow out of you.  If you stop yourself from a natural out flow, you will have an unnatural life.

Just Do It
Honestly, stop over analyzing and take action.  Try going with what you know is right, bypass your over worried conscious mind, and go straight to your gut subconscious mind that knows what you really want to do.  You already know what you want to do, and whether you have success or fail because of your action, chances are if you take no action you will fail much harder.

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The Science of Getting Rich is a timeless classic written in 1910 by Wallace D. Wattles. It is a bold title for a book and suggests that getting rich is a predictable outcome if one can master the principles outlined in the book. Here is how Wallace D. Wattles puts it in his own words, “The ownership of money and property comes as a result of doing things in a certain way. Those who do things in this certain way, whether on purpose or accidentally, get rich. Those who do not do things in this certain way, no matter how hard they work or how able they are, remain poor. It is a natural law that like causes always produce like effects. Therefore, any man or woman who learns to do things in this certain way will infallibly get rich.”

Certainly, this book is well referenced by many of the great teachers today and it is the same book that inspired Rhonda Byrne to produce that runaway success “the Secret”. Here is what Rhonda Byrne said on her introductory note to the book, “I can honestly say that, since that first night when a tattered printed manuscript found its way to me (thanks to one of my daughters), my life has never been the same. Once you read it for yourself, you will understand why”. Rhonda went on to produce the movie “the Secret” and the best-selling book of the same title which has sold millions of copies worldwide.

However, learning how to do things in that “certain way” as described by Wallace D. Wattles may be more challenging for some as the book was written nearly 100 years ago. Some of the language is a little dated and much of its wisdom lost from a modern day perspective.

Fortunately, a new training seminar for the Science of Getting Rich has brought the wisdom of this timeless classic back to life for modern readers. Called “the Science of Getting Rich“, this program is the most comprehensive training system for mastering Wallace D. Wattles wealth creation philosophies and principles since its creation. It comprises written, audio and live seminar formats for learning, applying and mastering the Science of Getting Rich.

A unique “twist” to the program is the fact that it has an in-built vehicle for creating substantial financial wealth through its affiliate program. This is truly a unique wealth eduction and wealth building program designed to empower any individual with the resources to get rich. It is a program whose time has come. The program would not be possible without the original text from Wallace D. Wattles, the skills of leading teachers of our time, the phenomenal success of “the Secret” and the Internet as a learning and distribution tool.

Click here to learn more about the Secret Science of Getting Rich and the details of the program.

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