Strategy #1: Private Reserve Strategy
Strategy is such a great word! This word evokes images of war, chess, your favorite sport and other games. Unfortunately, most people don’t think in terms of strategy in regards to their daily finances. They normally can’t see past the end of the month, let alone thirty years in the future.
We believe that EVERY dollar that comes to you should have an assignment towards your future wealth, security and legacy.
The billionaires of this world think EXACTLY like that! They also consider that all of their dollars should be making more dollars. That is the first strategy that we’ll talk about, and we’ll cover many more over the coming months.
Several years back I learned of a private reserve strategy that would help me continually make money from the money I already had or was earning.
This private reserve strategy taught me that there were three kinds of people when it came to money; The Spenders, the Savers and the Wealth Builders.
Well, you can probably guess which one I wanted to be, and I’m sure that most of you fall into that category as well! The most fantastic thing about the Network Marketing business model is that it truly gives people the opportunity to build wealth in a time-efficient manner. But, what even many of the most successful network marketers don’t understand is how to maximize the money that they make from their business. Our whole goal with these articles is to help you move the needle of your financial awareness toward being a wealth Builder! We’ll start this education by breaking down the three types of people.
This person LOVES to buy “stuff”, and they are not terribly concerned over whether or not they have the money to buy this “stuff”! Credit card companies love the Spender because they tend to keep very high balances (only paying down those balances when they need room to buy more stuff!), they tend to get so busy that they are late sometimes which incurs fees, and they apply for as many cards as they can to buy more “stuff”! A mentor of mine once described them this way:
They are people who mortgage their future to live well today, and they often buy “stuff” to impress people that they may not even like just to put a wealthy image out to the world.
We see The Spender a lot in our field of work, and all too often they come to us way too late to really be helped! Throughout their lives they go further and further backward financially.
You may be thinking to yourself, “What’s wrong with being a saver??!!”. In theory, nothing is wrong with being a saver. What The Saver does is squirrel money away in a bank account or interest-bearing account until they have enough to purchase the “stuff” that they want. For a long time, their account continually goes up, hopefully making some sort of interest along the way. When they drain the account to purchase what they want, any compound interest that may have been working resets to 0%. Then they save again, then spend again, and the vicious cycle continues!
Albert Einstein claimed that compound interest was “The Eighth Wonder of the World!” but also said that it only works effectively when it is uninterrupted and grows without losses. When The Saver drains the account to buy their “stuff”, it is comparable to a massive loss! The effect is that, while not necessarily going backward, they stay stagnate financially.
The Wealth Builder:
The Wealth Builder understands that any of his money not making money, is in essence losing money.
Taxes, inflation and emergency cash flow needs will drain an account and those funds cannot be returned. The net effect is large losses in your economy. What The Wealth Builder also knows is that compound interest, uninterrupted, will maximize return and gain of his hard-earned money. At the core of The Wealth Builder’s mindset is that money must continually work for him and not the other way around. Fortunately, tools exist in abundance which gives you the opportunity to grow your money continually while using it at the same time. We love employing and educating on these strategies so that people may have the largest impact possible in their communities!
All network marketers desire to be at the top of their game. Through education, you too can also be at the top of your financial game to maximize the great success of your network marketing businesses! Tune in next time for more on becoming a financial superstar!
Latest posts by Robert & Mary Beth Sly (see all)
- Learn How Money Works Strategy #1: Private Reserve Strategy by Robert Sly - September 1, 2018
- HOW MONEY WORKS By Robert & Mary Beth Sly - August 1, 2018
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