When I have friends over for a BBQ I notice several of them pin their wealth hopes on winning the lottery. This is a self-defeating false hope. Statistically they have more chance of being struck by lightning (twice) than winning the first division payout. As soon as you close this option of winning the lottery you are more likely to be on the right track, mentally.
The simple equation for wealth creation
Make more money than you spend.
Only buy things when you have the cash. If you need to borrow, then only borrow for investments that are tax deductible. You should not borrow money to buy non tax deductible luxuries. Pay cash for them, you can only reduce your expenses by 100%. Whilst it is wise to avoid frivolous expenses, it is better to focus on increasing your income.
How to increase your income
When you increase your income by thousands of percent your costs become a non-issue. Increase your skill level so that you can create more value for others. This works as an employee or as a business owner. Here are four things you can start doing now to increase your skill level:
- Read books, (or Amazon Kindle ebooks)
- Observe and mingle with successful people
- Work hard implementing these concepts for experience on the job
- Build your own business and grow it using everything you have learnt
You can increase your income dramatically by thousands of percent doing these four things. When you are in the right position, build your own business so that you have advantages of tax timing and the leverage that comes from being able to control your own destiny. Avoid ‘get rich quick’ schemes, keep your focus and pay attention to those around you and you will be on track.
Have fun increasing your income!
{ 2 comments… read them below or add one }
I totally agree with you – and I noticed that a lot of people find my site trying to learn how to win the lottery using the law of attraction!
I think putting all of your manifesting energy on winning the lottery could be better spent working out WHAT you’d use the money for and focusing on attracting THAT!
Great article, thanks
Denise
Reminds me of the energy criminals put into white collar crime. It would be easier to have a legit business with that level of energy investment plus you can sleep at night.