Developing Your Own Prosperity Pro Forma – Episode 3 – Know Specifically What It Will Take to Reach Your Goals – Part 3
One of the most important things that entrepreneurs and business owners can do is set aside a specific percentage of their income every single week towards saving. Are you saving the appropriate amount? Have you committed to long-term success? If you want to develop your own prosperity pro forma, you must be intentional and disciplined about your spending habits. This can relieve stress to help you get ahead in the later years of your life, and it’ll allow you to retire at an age that you dictate, not society. Most Americans do not even have $400 saved in their bank accounts. This means that if they have an emergency they will not have the money in order to afford what they need. You must commit to a spending habit that allows you to spend less than you earn. To prevent overspending make sure that you’re setting aside a specific amount of money for every week for your Family to be spending. And you do this, you create guidelines and parameters for living within a lifestyle that is acceptable. Some families use a specific amount of money on a debit card, while others use the cash envelope approach. This means literally taking out cash at the beginning of the week and putting it in an envelope that you can spend from, and when that cash is gone and then there is no more money to be spent that week. Napoleon Hill, the author of Think and Grow Rich, says that you must develop a regular proportion of your income set aside as saving as part of your definite chief aim. If you want to be as financially successful as the mentors that you read about, you must be willing to make the sacrifices and adopt the habits that they have in order to achieve the same success. If you enjoy this episode, make sure that you check out the other video trainings in this series, and sign up for our business workshops that occur at the Thrive headquarters.