You can prosper even when times are tough. A lot of people are doing it. What is it going to take to excel with the finances in rough financial times? It will definitely take a mindset of frugality and looking for ways to make more money . There are a lot of things that you can do to make more money. Getting out there and taking action can really be the hardest part. Prosper has provided so much information on how to do this. Use the power of focus and decide to pick one area and work on it until you complete your objective. Do not stop working on the stream of income until it is producing for you!
In a time when money can be harder to come by it is important that you watch the pennies. Remember, “a dollar saved is worth more than a dollar earned.” It is so much easier to save money then it is to make more. Recently at a company wide seminar I was reminded of the power of savings. To illustrate this power, let’s assume that you are currently saving 10 percent of your income. In other words, for every dollar that comes into your life you are keeping 10 cents. Let’s say that you find a few ways to save about 500 dollars a month. 500 dollars a month equals 6000 dollars a year extra in your pocket. How much revenue would you need to generate to equal 6000 dollars in net profit? You would need to generate about 60,000 dollars in revenue. If you want to see how much revenue you would need to generate in order to equal your proposed savings, just take the number that you are going to save and divide it by the percent you are saving. It is really powerful to see how a little savings here and there can go a long way, so the choice is simple, would you rather save 6000 dollars or earn an extra 60,000 dollars in order to have the same effect on your finances. It is easier to save more money than it is to earn more. Tracking the expenses is crucial.
With all the deals that are out there, there is a lot of money to be saved. Plan your purchases and watch out for the impulse buying. As always one of the best places to put your money when we are struggling financially is into your debts. Paying off your debts is a great way to free up more money and living a debt free lifestyle can help you with having an abundance mindset. As always remember to be consistent with the program and make it a part of your lifestyle!
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