Laying The Groundwork
Many years ago, a man named Napoleon Hill came up with a formula used by many successful people who became financially independent. This formula is as solid today as it was in 1937 when Hill's book was written.
Build The Foundation
The first step in building a house is the foundation. If the foundation is not right, the building process will be useless, because the house will always be flawed. The foundation sets the direction of the house and guarantees that it will be stable a stand for a long time.
The same also applies to your "financial" house. The cement that holds your financial foundation includes two ingredients: clear goals and a definite plan.
There are 6 steps to reaching your goals
- Your goal must be specific
- Set a realistic time frame to achieve your goal
- Write it down
- Develop a plan
- Decide what price you are willing to pay
- Think about your goal everyday
Once the foundation is in place the other key elements include:
- Have a budget
- Keep your priorities straight
- Separate "wants" from "needs"
- Don't procrastinate