COMPARE OR NOT TO COMPARE? HERE'S THE ANSWER!

Courtesy of jokoho.info

You are doing your very best to build frugal habits of saving, paying debt and building wealth. You feel great about your actions and give yourself pats on the back; that is until you see that next door neighbor park their new car in front of their door. That relative is taking a week trip to Cancun and it is not in the budget for you to go. As you see those on social media "living their best life" shopping, trips, weekends at clubs and bars as well as taking selfies of themselves in designer clothes. The entrepreneurs you know personally are succeeding. You get a feeling of let down because you wonder why you are where you are and these people are 'above you'.

Courtesy of ryancowanquotes

First of all, the people you see around you and on social media are not 'above you'. Why compare your beginning with some else's end? There was a program I loved to watch as a teen called "Lets Make A Deal" (I know there is a new version but the old version was king!). The host, Monty Hall was the salesman of salesman. He would ask the guests (dressed like all kinds of characters) to pick a curtain. The guests think that what was behind that curtain is going to be great until they find out different (a donkey with the announcer dressed like a farmer feeding it!). The point is to compare your journey with what you see is detrimental to ever achieving your goals of prosperity and abundance (as well as maintaining frugality). You never know what these people have gone through to get where they are now. 

The best way of dealing with these types of scenarios is to stay in your own lane....period! Lots of those people you see are successful while others fake the funk. Yes dears, lots of what you see on social media (and in real life) fake the situations; while others live their true selves. Time always reveals the truth about everything. By staying in your own lane, your focus is on improving not only your financial situation but your mental and emotional well-being. You will feel a lot better as your focus increases because you will no longer be at the place you are now but where the successful people you see are now. 

Stay focused, determined and stay in your own lane. Until next time...

Stay Frugal and Proud,

Dot

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WATCH YOUR WORDS ABOUT MONEY

It is very wise to watch the conversations you have with yourself and with others; especially when it comes to money. You see of course that words have power and when the emotion is very strong behind the words, it comes back to the user in a very positive or negative way depending on the way the words are spoken. 

Lets say that you and a friend are talking about going out to lunch yet it is not on your budget to spend at that time. It is okay to let this person know that you will have to do it at another time due to budgeting. Now lets say that you tell this friend that you are broke, that you have no money or you are too poor to do anything. Of course you will sigh about it and get all emotional. What happens? Any attempts to attract monies to you will be a problem for you. Why? Because you not only spoke negative about money but put a lot of feeling behind the words. 

Another scenario would be saying in conversation based on your beliefs about money. It would go something like this:

"There is never enough to go around."

"Rich people make me sick."

"There are shortages everywhere."

These beliefs may be true in your world, but look at others who were in dire straits and when they changed their beliefs, their life changed. 

This is why it its very important to look at money as a friend, not a foe. Live in gratitude with the money you have and more will manifest. Avoid negative conversations with others about money and know that the universe is abundant. You must change your beliefs and speak positive words about money such as:

"Wealth constantly flows into my life."

"Money comes easily to me."

"I am a money magnet."

The words may not feel right to you at first but put as much feeling into these words a you would when you spoke negatively. This practice is essential in building wealth as well as living frugally. 

Please comment and share below. As always live...

Frugal and Proud

Dot

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FRUGAL AND WEIRD?

Courtesy of personalfinancenews.com

There will be those who will not be supportive of your frugality. Some will think that you have temporarily lost your mind. They want you to go out and party, vacay to the islands and shop till you drop. You want to save, invest and live below your means as you build wealth. There will be those who want to borrow money and you say no. They can not believe it because you were always 'down' for helping out. You realize, no more of lending because it does not feel good. On the flip size, you stopped borrowing to pay things because you are tired of your money going out to payback. 

Your savings account was slim to none and now it is slowly building from monies your thought weren't enough to save from to monies you are glad to save. You still shop at the grocery store, consignment shops and more with change coming back because discounts and coupons are your friends. Every dime and dollar is accounted for because you have goals of building wealth and abundance with NO debt. Of course the naysayers say there is good debt (really?) and ask about your credit score being boosted. This does not concern you because you go for being debt free (no car notes, no credit cards and even paying off your mortgage). You enjoy being weird and those naysayers leave your life shaking their heads while telling other naysayers they know about your 'crazy life'.

Listen folks, as you change for the better, you will be called a number of things but broke won't be one of them. Keep your head up, persevere and do not give up. Be frugal and weird as well as proud.

Dot😌

WANT MORE MONEY? TRY THE MONEY JARS SYSTEM

Courtesy of tharveker.com

I had a conversation with someone regarding money and our journeys dealing with it. Over the years I have learned that no matter how much money you make, it is a matter of how you manage it that counts. There are those who have earned millions and lost it all; whereas those who have earned much less than these millionaires have built fortunes.

What is the difference one may ask? Is it because they knew the right people or being in the right place at the right time? Nevertheless, the ones who built a fortune from little knew something that those who had millions and lost it didn't. They managed what they had, budgeted and disciplined themselves.

Back in 2005, I attended a free 2-day seminar regarding the book, "Secrets of the Millionaire Mind" by
 T. Harv Eker who had to learn lessons about money management himself in order to build a fortune. One part of the seminar explained a money system that if used properly and with discipline, one can build a great deal of money. There have even been people who practiced it and became millionaires. It is called the Money Jars System which one takes any amount of money and manage it in six different jars with different categories. Get Rich Slowly, the author and his wife described below the categories as follows:

Courtesy of getrichslowly.org

Necessity account (NEC – 55%):

This account is for managing your everyday expenses and bills. This would include things like your rent, mortgage, utilities, bills, taxes, food, clothes, etc. Basically it includes anything that you need to live, the necessities.

Financial freedom account (FFA – 10%):

This is your golden goose. Therefore this jar is your ticket to financial freedom. The money that you put into this jar is used for investments and building your passive income streams. You never spend this money. The only time you would spend this money is once you become financially free. Even then you would only spend the returns on your investment. Never spend the principal.

Education account (EDU – 10%):

Money in this jar is meant to further your education and personal growth. Since you are your most valuable asset, an investment in yourself is a great way to use your money. I have used education money to purchase books, CDs, courses or anything else that has educational value.

Long-term saving for spending account (LTSS – 10%):

The money in this jar is for the bigger nice to have purchases. As a result, my wife and I have used the money from this account to go skiing in The Rockies in Whistler, BC. We also used this money last September for our trip to Italy and Switzerland. The only reason we’ve been able to make this happen is because we’ve accumulated a nice sum each month in our LTSS. A small monthly contribution can go a long way.

Play account (PLAY – 10%):

This is my favorite account. PLAY money is spent every month on purchases you wouldn’t normally make. The purpose of this jar is to nurture yourself. You could purchase an expensive bottle of wine at dinner, get a massage or go on a weekend getaway. Play can be anything your heart desires. My wife and I each receive our own play money, and here’s the best part. We’re not allowed to ask what the other person spends their money on.

Give Account (GIVE – 5%):

Finally, the money in this account is for giving away. Trisha and I give money every month to the Sick Kids Hospital Foundation. In addition, we use the money in this jar to give to family and friends on birthdays, special occasions and holidays. You can also give away your time as opposed to giving away money. You could house sit for a neighbor, take a friends dog for a walk or volunteer in your community.

As a result this couple created the following:

• Net worth increased by 45%.
• Bought their first home for $337,000.
• They created $800/month in passive income by renting out their one-bedroom basement apartment.
• They earned $200 in interest from their savings accounts. They use ING Direct savings accounts, which were clocking at about 3.5% interest at the time. (Ed. note: ING Direct became Capital One 360 in 2013.)
• They created more peace in their relationship because his wife and he have their own money.

You can create a financial portfolio you can be proud of! I have started mine and building slowly yet before long my accounts will be bulging which I would love to see. Comment below and tell me how you got started and your progress. I support and encourage you!💓

Many thanks to: 

Get Rich Slowly

T. Harv Eker

Follow me on Instagram

@prosperous1__

Thank you and have a great week!

KNOW YOUR CIRCLE

You have been building your online business for some time, making sacrifices in spending time with friends, going out and even in some cases your sleep. It was well worth it because you are now finding yourself in the five-figure bracket. You spend your money wisely of course and share the happy news with your circle of five friends that have been in your life since college. 

Four of those friends are now planning to take you out to celebrate yet you find that one friend who you were the closest to, shrugging your happiness off. This friend has had fast starts and stops in her business and has now put it on hold. She can not seem to understand why your business took off like a rocket. As you remember back, the slight insults she made like "businesses fail in the first two years" or "why waste your time, it won't go far anyway" with a 'just kidding' phony smile made you sit and think...

Mind you, this is just a fictional scenario or is it? While a lot of fellow entrepreneurs like myself and others work tirelessly on our dreams, others who we have counted on whether they were friends, family, and even lovers seem to take a stage left or sit patiently waiting for you to fail and then to say to you " I told you so!". It is so very important to know circle and be ready to do house cleaning where necessary. 

The late Jim Rohn said that the five people closest to you are the ones that can determine your come up or downfall and also how much money you earn, so please analyze carefully. Here are some tips on knowing when to make major changes in your circle.

1.) Does your circle support and encourage your dreams? 

2.) Are they there for you when you have your down days, such as when things not going right? Or are they only there when the bags are being secured?

3.) Do you find yourself the brunt of so-called "just kidding" barbs directed at you? You know those verbal slights made only to find yourself not laughing.

4.) Do you feel really alone on your journey, while everyone else seems to not have time to help you? 

5.) Are there folks coming up to you with criticisms about your dream and you later learned that someone in your so-called circle has been throwing shade?

If you find yourself answering yes to the questions, then it's time to do housework. When you do it, however, bless them and release them. There is no need for drama, trauma, doom, and gloom. Just quietly separate yourself (more productiveness in your business) and wish them well. Learn the lessons from the experience and build a better circle. Know what kind of people that you want in your circle and concentrate on what you want period. 

Lots of folks do not want to grow and by you showing them that you are, it shakes them to the core. This is not your problem, only theirs and you must keep it moving.

Please Instagram me at @prosperous1__ to follow me and leave your comments below. Be sure to tell your friends. I support and encourage you!💕

DO YOU HAVE OLD MONEY BELIEFS?

Do you have a pretty good handle on your money? How is your relationship with money? Good? Bad? Indifferent? Can you see yourself having a prosperous and abundant life? Lots of us wonder about these questions. Others do not care and continue to do what they want regardless of whether the situation is good or bad. If you are tired of having more month than money, no money at all or just tired of burying your head in the sand with the bills come in, this post can help.

First and foremost, it is time to stop beating yourselves up for the money mistakes you have made. Forgive yourself gently and learn the lessons! It is great to get 'how to' books on budgeting and all yet lets go deeper. A lot of the money issues that we have (yes me included) stem from past programming. This means growing up with these being told to us by our parents and other 'well-meaning' people. These are based on what they believed and since it manifested into their experiences, then they felt that they could relate them to you. Yet, not all advice is good advice because of the consequences. So it is time now to challenge every single belief that was told to you since a child. It does not matter that grandma said or grandpa said or mama said or daddy said. This is your life and since you want better in your life, we must think and do a thing in a different way. 

Lets go into some of those old beliefs here as follows:

Were you told beliefs such as;

(1.) "Money does not grow on trees"

(2.) "It is better to be poor and spiritual, than rich and evil."

(3.) "Money is the root of all evil." (this one is very popular)

(4.) "Once someone gets money, they get arrogant."

Honestly, do you really believe each of these and why? (1.) No money does not grow on trees so that one can be release from your mind. (2.) The second one is based on what others believed in regard to their religion yet is it your religion? There are folks that are just as rich, spiritual and kind people as there are poor people who are evil. Get it? Good. (3.) The third one is from the Bible yet has been misconstrued and misunderstood for years! The true text is that the love of money above your deity (higher power) is the root of all evil; not money itself. I believe that while many people have money, they do not keep it very long because subconsciously, they fear it and get rid of it. (4.) The last belief in this list is that money only magnifies the person's true character. This means that if the person was evil from the beginning, having more money will cause them to be more evil. This can go for kind people being more kinder, arrogant people being more arrogant and so forth.

There a lots more beliefs that can be challenged and it would be a great idea to list them as you go along and really examine each one. This can mean the difference between having a new and better prosperity mindset as oppose to staying in the same place.

Your respectful comments are truly appreciated and thank you.