What to do with the Dollar

I want to share something with you today. It’s an important topic for so many of us.

Yesterday I was cooking dinner and as I so often do I popped in a Jim Rohn CD and there he was telling me again what to do with the dollar.

Now if you’ve been in Network Marketing or Home Business of any type for a while the chances are you have heard this.

Sadly the chances are also that you are still not implementing Jim Rohn’s sound advice.

There are all kinds of ways to make money but the core principles that every wealthy teacher talks about are in what you do with your money when you have it.

So what do you do with yours?

Are you still in the ‘too much month at the end of the money,’ zone? I lived in that place for such a long time and am only now really implementing the stuff I have learned over the past seven years.

Do you still think that you will start saving one day but not now?

Will you invest back into your business later ‘when you have more money?’

Will you give to charity ‘when you get rich?’

These are all the things Jim talks about. Robert Kiyosaki talks about them and you can read about them in ‘The Richest Man in Babylon.’

In fact there are no end of great books that give you a complete plan to get out of debt and become financially free.

The hard part isn’t reading them … the hard part is following the advice consistently.

Everyone has a unique situation so if you’re in a lot of debt you will need a plan where you focus on paying that off, but are still able to invest to grow your business.

If you earn a lot of money but never have any left then it is time to focus on saving consistently every month.

A big turning point for me was when I began tithing every month. It can make you sweat a bit. It requires faith in prosperity.

Read Randy Gage’s blog to find out more about how that works.

So even through Jim Rohn has recently left us; his financial plan lives on and it is a simple one.

Live on 70% of your income; i.e. 70 cents from every dollar or 70 pence from every pound.

Give 10% to charity or tithe

Invest 10% back into your business (Active investment)

Invest 10% into a savings account with interest (let me know if you find one!) or any kind of investment that pays you a return in exchange for your money (Passive investment)

You can tweak it to suit yourself of course and start where you’re at now. If 10% can’t work because you’re in debt then do less but do something or it may never happen.

Speaking from experience you may need to get out of balance when you start your business if you don’t have capital put aside. That’s okay as long as you keep focussed on your plan and track every penny.

A home based business is the most lucrative and tax efficient way to get into business for yourself and start managing your money like the rich so make sure you get set up properly and keep a spreadsheet and receipts of every purchase you make that can be claimed through your business.

If you don’t know what can be claimed then it’s time to find a good accountant who understands Network Marketing and Home Based Business.

As Jim Rohn famously said, ‘What you don’t know WILL hurt you!’

Here are a few books to help you understand all this better. Begin with one and start implementing the basics right away.

Rich Dad, Poor Dad or anything by Robert or Kim Kiyosaki

Randy Gage, RandyGage.com for a daily injection of prosperity wake up calls, and ‘If you’re dumb sick and broke and how to get smart, healthy and rich.’ (Explains tithing and laws of prosperity)

The Richest Man in Babylon (Challenging as we now have direct debits not just coins but the principles are the same!)

Suze Orman – The Courage to be Rich or any of her books

The One Minute Millionaire – Mark V Hansen & Robert Allen (Great stuff on tracking every expenditure which is the ‘Millionaire Moment.’

Jim Rohn – What to do with the dollar (segment on many of his audio programs)

I hope this inspires you to get organised with your finances. There is no better time than right now to get control of your money and stop waiting for that magic day to get started.

If this has helped you please Like it on the Facebook button and leave me a comment. Share any tips you have.