Keep A Portion of Everything you Earn

Welcome back. Keeping on with some of the Millionaire Secrets, Multiple Streams of Income, The Secret and the Law of Attraction.
I covered #1: Decide to Be Wealthy. #2: Take Responsibility for Your Money

Today I would like to share with you #3: Keep a Portion of Everything You Earn

Why do I think this is important? Have you ever seen money come in one hand, and even quicker go out the other? yep, me too. While I have been keeping track of my money (daily - monthly) I found I was spending more than 10% on JUNK! Stuff I didn't really need or want.

Recently I went to a seminar with Megan Gehlar (Money Make Overs for Women) She shared a simple formula that I would like to share with you.

She called it, "the bottom line of my system"
50% NEEDS - bills, food, gas
20% WANTS
10% TITHING
20% SAVINGS (if you have debt then give 10% savings and 10% to go to pay down debt)

This is how I applied this to my situation.
50% NEEDS - Going to bills, food, gas, household expenses
10% WANTS - This is my fun, do whatever I want to money
10% DISNEY - We are going to Disney World as a family, and this is an easy way to put money aside a little at a time. It is amazing how quickly it is adding up.
10% TITHING - I have always giving 10% of my earning to my church. I do it with a grateful heart and full of gratitude. I know that it is being put to good use. (This could also be to a favorite charity or cause that you believe in) As long as you give and with a grateful heart.
10% SAVING - This is my emergency fund, that I can later put into RRSP to continue to grow.
10% PAYING DOWN DEBT - If I have credit card balances or mortgage, this is extra money that I put down. It sure is nice seeing the balance getting smaller and smaller. If the debt is getting smaller, than my NET WORTH is getting BIGGER. (And I like that, how about you?)

Just on the subject of tithing and giving let me share a story. This is when my husband was first introduced to "Tithing". He didn't like the idea much. He worked hard for his money and didn't want to part with it.

One Sunday at church, he took his envelope to the Bishop and kind of threw it on the desk and said, "here's my tithing" and turned to leave. The Bishop replied in a kind and loving voice, "you really don't want to pay it do you?" "NO," was the reply of my husband. "Then take the envelope back, if you are not going to give it with a grateful heart, then I don't want it." With that he handed it back to my husband. He took it and left. Needless to say, after pondering what the Bishop had said to him, but the time church was over, he gave it back to the Bishop.

As with anything, be GRATEFUL that you can give, or even that you have bills to pay. I know what you're thinking. Be grateful to pay bills??? Of course. I look at it this way: If I have a mortgage, it means I have a home. I have an electricity, phone, gas bill, it means I have power that I can cook meals, light my home to see, keep warm in the winter, and able to stay in touch with family and friends. If I pay taxes, it means I have a job. You can turn it into a negative or positive. Isn't there too much negativity already in the world? What you put out there, is what you get back.

It's easy to keep a portion of everything you earn. Either have it deducted from your paycheck. Could even do envelopes or jars or boxes. I like to go to the bank, after I have broken everything down, and put it in envelopes. I am a visual person, I LIKE TO SEE IT GROW. Find what works for you. Remember, bit by bit, here a little there a little. It will grow. Millions don't happen overnight (unless you win the lottery) slow and steady wins the race !!

To find out more GO HERE

Remember: Keep a Portion of what you earn. One of the Secrets of Millionaires.
Thank you.