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Check it out at http://www.prosperity4kids.com
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1. How to make more money.
You can’t. That’s right, you can’t make more money. You can only earn more money. You aren’t the Treasury Department and you don’t get to print it up when you need it. Money must be earned.
Some of you will immediately respond with “semantics” because you like to argue and would rather argue than think. But there is much more to this statement than mere semantics. We are at a sad place where people seem to have forgotten that wealth at every level is earned at some level.
Too many people don’t understand that their money is a payment for a service rendered. They certainly don’t like facing the idea that the reason they don’t have much money is because they don’t offer much of a service, or don’t offer a service that is worth much.
Sadly, I have discovered that people don’t really want to earn more money . . . they just want to have more money. I guess the Money Fairy is supposed to slip into their bank account during the night and deposit money. Even the Tooth Fairy expects you to leave a tooth behind in exchange for the money. You give up the tooth and the Tooth Fairy gives up a little coinage. That’s how the Money Fairy works too: You give up a little work, a little effort, a little service and the Money Fairy shows up with a little money.
So if you want to have more money, read on.
2. How to have more money.
There are only two ways to have more money: increase income and/or decrease expenses. Hopefully a combination of both. This little principle works for government, business and individuals.
I’m not going to spend any time here explaining what you could do to increase your income, as that is up to you, your talents and the time available. And if you want to know how to decrease expenses just look at how you are spending your money and figure it out. It’s not hard to look at your spending to evaluate what you need, what you want and what you can live without. It’s all about priorities.
3. Set good priorities.
Your time, your energy and your money always go to what is important to you. When I was doing my A&E television show, Big Spender, I would spend ten minutes walking through someone’s house, another ten minutes looking at their checking account and then their credit card statements and I could tell exactly what their priorities in life were. I had a couple that spent 40% of their income on food. You can guess their size probably but it was more than that. Food was their obsession. It was their priority to the point that their bills and house and cars and even their appearance suffered. I had a father who spent more money on his three pack a day cigarette habit than he did on making sure his kid had a roof over his head and a car to ride in and milk in the refrigerator. His personal pleasure was more important than his family as evidenced by his spending. If you spend more money at the mall each month than you do on having a secure financial future, then looking cute is more important to you than being financially secure is.
Finances are like a good crime novel; if you want to know who is guilty, follow the money! Take a few minutes and evaluate your spending to see what your real priorities are and if yours need some realignment, then start now!
4. Get your mind right!
Each of these points I’ve made here are as much about how you think than anything else. It’s about getting your mind right. Begin to think in terms of earning money instead of magically making money. Get your mind wrapped around the simple idea of increasing income and decreasing expenses instead of easy way outs and get rich quick ideas. And most importantly get your mind right about what is really important to you. Is the temporary exhilaration of the moment more important than the long-term satisfaction that comes from investing your time, energy and money in things that really matter?
“This post was originally published for my weekly column at DebtKid.com. You can find the original post here.”
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I found myself impressed with your books on personal responsibility and taking charge of your own life. I found myself disappointed in you for supporting Barak Obama. You basicallly told everyone to go to *** if they disagreed with you. That’s OK. It’s a free country and everyone is free to support who they wish. But, I must admit, I cannot see how you reconcile your message of fiscal discipline and personal responsibility with supporting a leader who proposes the opposite. Has there been a change of heart?
Yes, Rick. Obama broke his promises to us from the campaign. I have changed my support of Obama and believe that he is trying to spend our way out of debt which goes against all I believe in. My position on fiscal responsibility is the same as they have always been as you will see in my many interviews on Fox News and Fox Business.
Not to plug another financial Guru’s teachings….but…I think Larry Winget and Dave Ramsey are on the same page: Good finances/ Bank account is 20 % income and 80% behavior.
Larry, I’m impressed at your admitting the change of heart about Obama. It speaks to your integrity that you don’t try to justify anything, just point to your world view as the guiding factor. I love your books and your overall message. Keep preaching! We all need to hear it.
Good post Larry. You have to support somebody at the time Rick. “Spend less than you make” some people will never get it.
I like Larry, because he tells it like it is; wether yo like what he has to say or not, so be it. But there is no beating around the bushes with this guy. I am a big fan of his style of teaching.
Larry, it takes a real man to admit a mistake and to choose another direction. I applaude your change and admission. I am surprised that you of all people got sucked in with Obama’s message and false promises. You are far too saavy and street wise to fall for his kind of stuff.
Onward to 2012 and the re-construction of America !!
Brad – I have always been quick to admit when I was wrong. Nothing is gained by pursuing a course of thought or action that is leading you in the wrong direction; personally, professionally or politically.
Obama was a great candidate. He presented himself as a centrist/moderate/next Bill Clinton. He duped me and millions of others . . . other much smarter than I am. I was plenty savvy during the elections and did my share of homework which is why I could not vote for the Republican choices last time.
I hate the hyperpartisanship and the extremism displayed by both sides. I would love to see a good, solid centrist from either side step up and say “to hell with all of the social issues, to hell with your pork, to hell with your personal issues – we are broke and we are going to spend the next four years cutting spending and putting people back to work and at the end you will all probably hate me for it but that’s fine – I will be done and outta here!
Enough politics……………
L
Larry;
I have found that all of your thoughts have either changed my life, woken me up and given me a slap in the face at a time when I most needed it. From the first time I picked up “Shut Up, Stop Whining and Get A Life” I have done just that. And I want to say Thank You. All of what you have said and written are common sense. It was just a matter of getting off my butt and getting it done. I am not there yet, but I am a hell of a lot closer than I was 5 years ago. I stopped digging that big hole and almost have it all filled back in. And this year is going to be a big one in accomplishments.
Flew into Phoenix last week and said, ” I should stop by and say hi to Larry.” My girlfriend thought I was nuts so we just visited family and came back to NJ. Besides, I didn’t want to seem like a stalker. LOL
THANK YOU AGAIN
Larry,
I agree with the bulk of you 4 points, however, point one does not consider the gross over compensation for services rendered by many Fortune 100 CEO’s. I’ll give it to them for earning the role, but not for adequately earning the income many of them make. The fact that a CEO can earn 150 times more than a company employee is absurd.
Larry, I am wondering if you would write and post a blog directed at underweight people that keep themselves in a burned-out under-rested mode to have the excuse that they would succeed if they weren’t so tired.
This type of person may also have more money than they admit to themselves and have a hard time buying something, even when they really need it and have more than enough money to buy it.
Mr. Bliss, I think this article is directed toward people who spend too much money and then complain about not having enough. It has nothing to do with countries whose people are truly poor and having nothing. It is also about using your brain. You obviously do not live in a burned out residence and spend most of your earnings on food that will sustain your body because you are on the internet.
What about east european country Bulgaria, there people spend 50-60% (even 80%) on food? Food is not their obbsession, but can you life without food?
Larry, I found your book on a local bookstore. It was the ‘Shut Up’ book. Printed in Bahasa Indonesia.
A bit of skeptical at first. Never heard of your name before. I want to know what made you called ‘The Pitbull’.
I am so glad I’ve found your book. It kicked my butt.
Your point about priorities is very well taken. People do what they want to do, no matter what they say. Some of us do prefer to look cute rather than plan for or worry about the future. In a booming economy, this might be okay. While we’re young and attractive, also.
The problem is, in a miserable economy such as today’s, even carefully devised plans produce no better results than do the feckless behaviors of those who refuse to plan. We’re all in the same boat. Is the boat sinking, or merely becalmed? Darned if I know!
Your credibility with me, and my respect for you, greatly increased with your response to my question.