The Working Woman’s Guide To Riches

Believe

Sometimes, a woman needs a guidepost, a road map to where she wants to be.  Most of the time, her goals involve wealth, or ways to wealth.  Here are some methods that are tried and tested.

1.  Make a financial assessment.

A woman should know how much she has before she can decide what to do with how much she has.  For many, this starts a series of wake-up calls, not to mention panic attacks.  But wake up calls are good, and panic attacks are good because they set off something in the brain that makes it go to preservation mode.

Here is where the expensive coffee and clothes and bags and eating out and traveling have to go.  Or at least cut by as much as seventy five percent.

Because to be wealthy is to carve out and use that seventy five percent for something that can bring in more income (read: investment).

2.  Invest.

For the conservative investor, there is the mutual funds that can give a steady yield year by year provided it is not taken out for at least 7 years.  Other investments that are considered conservative include government bonds, time deposits, certificate of deposits and treasury bills.  Boring, yes, but generally safe.

For the aggressive investor, there is the stock market.  It is not for the faint of heart, it should be observed, it should be timed because it is affected by the waxing and waning of the world economies.

Business, however, is the riskiest investment with the biggest potential.

3.  Be in business.

Start something on the side that can give that extra money with little capital.  It could be the spin-off of a hobby, like baking or planting or painting or sewing baby dresses.  It could be a skill, like playing the piano or making up stories or writing love letters.  Look at a franchise, or invest with or in a friend (caveat: money can break up friendships), or sell an idea.  Through social media, small businesses are given leverage that it never enjoyed before.   While you are at it too, and while it is still early, take a real close look at ins and outs of your money – you can use a bookkeeping software to help you – because believe me, your memory will not be able to contain (or accurately record) all your sales and your inventory and your losses and your gains.

4.  Be debt-free.

Pay off credit cards in full every month.  Or slowly pay it, making sure no new purchases add to the amount owed.  Make realistic payment plans for other debts and pay them off.  Make an extra mortgage payment or two every year and make sure the bank knows the extra payments should go directly to the principal.

5.  Read, read, read.

About finance, about anything of interest.  Too much of a good thing, in this case, is a good thing. Read as if the future depended on it.  Look for mentors in books, and look out for skills that can be learned or developed.  Be inspired.

While at it, attend seminars.

6.  Attend seminars, network, meet people.

Sometimes the silver lining can be seen in the eyes of people and opportunities found in like minds.  Go out, be seen.  Learn, follow, lead.  Be enthusiastic, be insatiable.  And when an opportunity presents itself, grab it with both hands and do not let go.

7.  Ready, fire, aim.

Know when to let go.  Know when enough preparation is enough and when the business should begin.  A lot of ideas and business acumen die because people get lost in the preparation.  Prepare, yes.  Study the business, yes.  But fire.  At all cost.  The real excitement is there, the real lessons are there, the big money is there.  Then adjust course accordingly.

8.  Fail

Nothing drives home a lesson or catapults a woman to her fullest potential (riches too) than many a night drowned in worry or sorrow or having the walls crash down.  Learn the lessons and start again.  And again, and again.  Do not be afraid.

9.  Say “thank you”.

“Thank you” reverberates in the universe and attracts little everyday miracles and more of the wonderful, great, awe-inspiring miracles.  Try it.

10.  Share.

Nothing multiplies blessings more than sharing it.

Article by Issa. Art by Danvic Briones. Copyright 2011.
Website: www.YouWantToBeRich.com
Email: issa@youwanttoberich.com

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