One of the things that's really important in wealth creation is ensuring that you've actually got the two pillars in place:
One of the most effective and probably under-utilised strategies, is Property Investment, and today I'm featuring a special guest and expert: Tim Allwood - the Director of Compass Property Investments, to address some key questions about property investing as a wealth creation strategy.
What Lies On The Other Side Of A Challenge?
Sometimes, in the midst of a challenge, it's easy to want to throw the towel in and you know... panic and quit.
My sister went through this panic while moving from a big house into a smaller unit. After signing the paperwork she returned to her house and thought, “Oh my gosh, my stuff isn't gonna fit! I've totally made the wrong decision!”
We often feel the same when business challenges hit. You know you’ve put your neck on the line for something, and if you start doubting yourself then, it can be very tempting to give up.
Some of the negative thoughts that can tempt us to quit are:
Today I want to inspire you and encourage you to ignore those thoughts and keep going, because you never know what lies on the other side.
For my sister, packing everything up and going through all her stuff with...
This article was originally inspired by Thanksgiving and seeing everyone's social media posts about being thankful. Ironically, the outpour of positivity in the days leading up to Thanksgiving reminded me that for many people, it’s not so easy. Festive holiday seasons can also stir up intense emotions like sadness and loneliness.
There are many reasons you may struggle to feel sincerely thankful, especially when times are tough in business. Whatever your reason, expressing gratitude for the things that you do have will help you improve how you feel, even if you are in a low and lonely place.
A Couple Tips to Stay Grateful
Get Back to Basics
There's sort of no point in saying, “I'm grateful for everything and the world is abundant,” if you don't feel like that at all. Be honest with yourself, and find basic things that you can genuinely feel thankful for.
Examples of the basics:
Affirmations can play an important role in attracting more wealth and abundance IF they're used correctly! Unfortunately, in many cases, affirmations don't really work - and the reason has to do with the level of faith we put into them.
Do you really believe your affirmations? That's the question you really need to answer.
There are several ways to test your level of belief around your affirmations. One exercise you can try is to rate yourself out of 10 on a series of affirmations to see whether you actually believe them. The process for doing this would be:
For each affirmation, a low score would indicate that you carry some resistance towards achieving your own goals. This may also lead you to make incorrect assumptions - for example, that you aren’t meant...
Have you ever thought about how your early money memories might impact your life? I'm specifically referring to an early interaction with money that left a big impression on you. If you're not sure what I mean or why it matters, what I'm describing here is a process where the interactions you have with money when you're really young, form part of what's called your earliest money paradigm.
This paradigm shapes everything about your interaction with the world around money and these ideas get solidified when we're really young. So I'd like you to try and go back, and see if you can remember your earliest interaction with money because these events can have a huge impact on your life. When these money interactions go unchallenged, especially if you've had a negative interaction with money, then they start to form part of your money paradigm. This means you carry beliefs about money that show up in your money patterns as you're growing up and...
In this article, I'm going to share 10 powerful affirmations that you can use to attract more wealth and abundance.
I will call out from the outset that this isn't your typical feel-good affirmations post. I'm actually going to give you these affirmations, but with a very specific purpose and it's probably not what you think.
So first up, I thought I would actually explain what an affirmation is because not everyone might be familiar with the term. So, let's start with the official definition of an affirmation from the dictionary: an affirmation is to affirm that something is true.
Now there's a big problem here. Straight away, alarm bells went off and I just remembered my English teacher saying, "You can't use the word you're trying to define in the definition." So, that kind of breaks that rule and is not overly helpful if you don't know what an affirmation is.
So another way I can explain what an affirmation is, is that it's like stating a declaration - and stating that you...
Toxic money is when money is owed to you in some shape or form. In some cases, you feel like you were cheated out of the money, or it is something that you rely on but you have to pay a price for receiving that type of money. So even when you finally get the money it usually feels like there's some kind of a battle around it as well, because it hasn't been received in a good way, or in some cases you don't receive it at all. Toxic money doesn't apply to everyone, however, if you do feel this concept applies to you, pay close attention because it can hold you back in all the other types of relationships with money.
Here are some patterns of toxic money :
Expenses, which is the fifth type of money, is something to be mindful of if you want to have a great relationship with money and a great money mindset.
Generally, there are two broad types of expenses. Necessities, i.e. your bills, housing, utilities, clothes, food, etc. the essentials in life.
The other kind of expenses are considered luxuries; even though they may not include luxury brands. This segment comprises anything beyond necessities. Your mobile phone, designer clothing, holidays, are all good examples since you don’t need these to survive.
On a social level, we can say that what we spend on is a reflection of how we want to fit into society. It becomes a status symbol.
What's interesting about expenses is that they do tend to go up as your income goes up. Have you noticed this for yourself?
For a lot of people, it often means moving into a better house, getting a better car, buying nicer clothes or going on holidays if you didn't do that before.
Do you deliberately set any income goals for yourself? Maybe for the year? Is there a specific amount of money that you're going after whether that's in your career or in your business?
When I talk to people about income goals, usually I find that there are two major types of challenges when it comes to setting effective income goals.
The first one is that some people don't actually set any goals at all. When you don't set a goal, you end up having a default goal which is usually somebody else's goal. A good example of this is corporate jobs. A lot of people say “I just ended up here”, or “I landed in this job”, and often that's why. It's because of the absence of having clear goals, specifically an income goal.
By not setting a clear goal, you are actually imposing a ceiling on your income and earning capability.
Where do you see yourself in 10 years? Do you aspire to be the head of your department? It's not that if you're an accountant you need to...
This article is part of the Money Mindset series where I've been talking about your relationship with money, and in particular around the six types of money.
So far we've covered savings, debt, and today we're going to talk about income.
When it comes to income, I like to dive right in because this one is best tackled on a practical level.
Take a few seconds to think about your income. How much do you earn? When do you get paid? Is it monthly? Or every other week?
We typically refer to income from a job, but it can also be from your business.
What I want you to do is to think about your income, it doesn't have to be exact, just something close. Visualise that number. Picture when that money comes in, when it hits your bank account, try to see that figure.
What I want you to take note of is whether any feelings are coming up around the visualisation of that amount of money.
The reason I'm asking you to do that is when it comes to income, particularly if it is a salary...
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