My Wealth Building Rules 1 – 3

The first month I officially decided to work at home I made $500, so you can imagine my surprise when my annual income grew to $50,000. As I work towards reaching the $100,000 mark, the most vital part of my process is my Wealth Building System; a series of rules that I follow to help me consistently increase my cash flow, live fabulous within my means, and make the most of what I’ve got.

RULE #1: CRUNCH THE NUMBERS
I believe one of the reasons broke people stay broke is because they never go deeper than statements like, “I want money” or “I need money”. On my journey to personal prosperity, I stopped thinking of money in abstract terms and started setting real number values to the amount of money I wanted to make and the amount of money I needed to survive. Ask yourself these questions, “How much money do you need vs. want? What are your ideal numbers?”

RULE #2: SET MONTHLY MONEY MARKERS
As I got into the habit of crunching numbers I started to set what I call my monthly money markers. Every month I would define how much I wanted to make in my business (a reach goal and a realistic goal) vs. how much I needed to cover my bills and business expenses. Using money markers I saw my income gradually increase from $500 in one month to $1200 to $2500 to $3000 to $4500 and beyond. I just keep setting monthly goals, calculating how much I need to sell to reach my goal, and as I hit my target numbers I increase my mark.

RULE #3: TRACK TRANSACTIONS
I am always aware of how much money is coming into my business, going into my bank account and leaving my pocket book. Tracking sales helps you analyze if your business is making more money, losing money, or staying the same. Tracking your spending habits helps you ensure that you are not spending more than you make and that you are living within your means.

To read my 10 Wealth Building Rules Download or order the May issue of SistaSense In Print Magazine.