It’s the beginning of a new year and a question I’m sure all of us have asked ourselves is, “how much money do I want to make this year?”
It’s a question that I’ve asked myself. But recently someone asked me another question…
“How much wealth do you want to create in your life this year?”
It wasn’t something I’d even thought about.
I realised rather quickly that I actually don’t really know that much about how to really get my money working for me and I think the vast majority of the population don’t really know either… none of us are born financial geniuses and most schools don’t teach people about money – how to manage it and how to make it work for you.
This leaves most of feeling like we’re floundering when we grow up and have to deal with it.
So, I’ve made the decision to learn all that I can about wealth and wealth creation and that leads me to this week’s video…
It’s more of a mini-class with Ann Wilson, the author of The Wealth Chef, and she teaches:
1. What financial freedom really is
2. How to figure out what financially free means for you in numbers (she shows you how to work out your financial target)
3. She talks about the 4 asset classes
4. And talks about wealthy habits that will help you
To you help you even more with this, you can get a copy of Ann’s book The Wealth Chef for free here >>
COMPETITION: we’re going to be picking a winner from the comments to win Ann’s 30 Day Money Make-Over Programme, so make sure you leave a comment below and let us know what 1 thing you’re going to do this year that will make a difference to your financial situation or just let us know what you thought about this week’s video :)
Here’s an overview of what Ann shared in the video above.
WHAT ARE YOUR CURRENT LIFESTYLE COSTS?
Work out your monthly expenses and then multiply by 12 to get your annual expenses.
WORK OUT YOUR FINANCIAL TARGET
To do this take your annual expenses and divide that number by 0.08. This figure is your net worth target… it might be quite big, but don’t worry!
DISCOVER AND LEVERAGE DIFFERENT TYPES OF ASSETS
There are 4 asset classes: stocks & shares, property investment, passive income business and yourself (your mindset and attitude). In Ann’s book she teaches how you can get your money working for you by using these different assets (you can get a free copy here >>).
DEVELOP WEALTHY HABITS
If you want to be wealthy, then it’s important to develop wealthy habits. Ann talks about the importance of paying yourself – allowing yourself to keep some of the money you generate and she also talks about the importance of getting intimate with your money and giving money a really clear direction, as to what you what it to do for you.
:: COMPETITION TIME ::
Leave a comment below and let us know 1 thing you’re going to do this year that will make a difference to your financial situation. Getting clear on this is so powerful.
We’re going to pick a person at random from the comments and the winner will get Ann’e 30-Day Money Make-Over Programme worth $47. So get involved…
I loved this mini-class by Ann, I think understanding money better is so important for us – it will enable us all to take control of our financial destinies! So I hope you’ve found it valuable.
See you next week!