The Four Financial Plagues

 The Four Financial Plagues

There are many people in the world that spend countless hours trying to figure out how to get ahead financially.  Countless hours are spent laying awake at night and many divorces and separations have occurred due to financial plague.

In my years in the home based business industry, I have been mentored by some of the greatest minds in network marketing.  I have been able to compile a list of "deadly" financial plagues that kill people financially.  I want to personally thank my mentors that have shed light on this subject and now I get to share it with YOU.

1.  Too Much Debt 

Most people are taught at an early age that in order to get the things that you want, you have to borrow money to do it.  From your house to your car to your television, to your education, most people are taught that debt is the way to go.  96% of the world is plagued by debt.  They are constantly struggling financially to pay their obligation to the borrower.  Essentially they become SLAVES to their debts.  People worry about losing their jobs in fear of not being able to pay their MASTER's...DEBT!!!  

The silly thing is people don't stop going into debt. They just "gotta have it" and don't think about how they are going to continue to pay for it 30 days from that point.  Yes the car looks nice! Yes the house is cozy! Yes that second degree or going back to school look like the responsible thing to do. BUUUUUT!!! What happens when you have to pay it all back...worry...stress...headaches...heart attacks...cancer...sickness.  

Matthew 5:5 Blessed are the meek, for they will inherit the earth. Learn how to be "meek" with your finances. Meek means have boundaries with your spending.  If you can't buy it with cash...DON'T GO INTO DEBT TO GET IT!!!!!  If you have boundaries with your spending, when opportunities arise, you can "inherit" those things people lose that they bought with debt.

The goal is to stop accumulating debt and begin the process of paying it off.  Later in this blog entry you will learn a plan on how to do that. 

2. No Emergency Fund

Most people, because they have so many debt obligations, spend almost 100% of their money every month.  This means they have no way of putting any money aside for "a rainy day".  When emergencies happen (flat tire, washer breaks down, your child needs money all of a sudden for school), most people have to either put it on a credit card or miss paying a bill in order to handle the emergency.  Two things happen at that point: more debt has been created and bills are behind. This creates what? More financial stress...plague.  

The goal is to put aside 6 months of your monthly expenses for emergencies.  If your expenses are $2,000 a month, then the goal is to have $12,000 put aside for emergencies.  

Here is how you can help alleviate this plague:

Work to put aside 10% of your monthly income.  In order to do this, for 30 days write down everything you spend money on and all the silly things (that candy bar, that shirt you didn't really need) stop buying them.  Once you can put 10% aside, take half and put it towards you emergency fund and the other half towards your debt.  Over time you can build your emergency fund and work to get out of debt.  It's going to take time and discipline but it will be worth it.  At least you have a plan in place.  Most people don't have a plan to build an emergency fund and pay off their debt.  They just "fly by the seat of their pant" and hope something goes right.  Follow the plan.

3.  Not Making Enough Money

I know I know I know that every single day millions of people wish and pray for extra income. Most people think, "If I only had more money to..."  So what do they do...they go back to school (OMG!), they play the lottery (like that's really going to work) or get a second or third job.  But what's the outcome of those scenarios: Going back to school creates more debt.  Playing the lottery leaves your chance to making more money to luck of the draw.  Getting a second or third job (which is actually for 2 or 3 people) only means more time away from the family and paying more taxes.  

So what do you do?

I suggest joining a home based business (network marketing).  Not just because I'm in one but because of what it they can offer when it comes to earning extra income and becoming more financially literate.  Joining a home based business can help you to do two things that wealthy and financially independent people do: they help you to create LEVERAGE and RESIDUAL INCOME.  The leverage comes from recruiting or sponsoring people into your business.  They have the opportunity to do the same.  What starts to happen is you earn extra income from each person.  When your team or network recruits someone you earn money from they joining and the services or products they purchase.  OVER TIME your network continues to grow and so does your income.  Also each person is purchasing a product or a service monthly, so every month you earn a piece of what they are purchasing...RESIDUAL INCOME.  It's just that simple. We all have RESIDUAL BILLS but no one has any RESIDUAL INCOME. Why?

Go here to see more information about a wonderful home based business,  OWN YOUR LIFE WEBINAR 

The extra income you earn, you can put towards building your emergency fund and pay off or down your debt.  Go here to see more information about this process, FINANCIAL DEFENSE. 

4. No Financial Literacy

I think this is the most deadly plague of them all.  Most people don't understand finances.  They have no financial literacy.  They have school literacy but no financial literacy.  Most people cannot read a financial statement. They don't understand that they are taught to acquire liabilities (things that take money from you) instead of acquire assets (feed money to you).  Most people are taught to acquire liabilities (houses, cars, clothes, televisions,"things") that require debt to purchase.  So every month those things take money from them.  

What wealthy and financially independent people do is acquire assets and then use the money they earn from the asset to acquire more assets.  Over a period of time, they have enough assets to pay for what ever they want in cash. 

The home based business industry (network marketing) I mentioned before is an asset that you can acquire. For a small investment, you can own a business!!! How exciting!!  The best part about the home based business is that new assets will be acquired with and without your effort because there will be other people recruiting (acquire assets for their individual businesses) that will also the part of your asset building.  OVER A PERIOD OF TIME, you will have enough assets (people) to pay for things in cash and/or acquire other assets (investment property, other businesses,etc) and most importantly pay off your DEBT!!! GET YOURSELF FREE!!!

Now...

Here is how you gain financial literacy...READ!!!!! Most people don't like to read and develop their minds. They want to get right to the money.  It doesn't work that way.  Where every your mindset is, is where you money will be.  Remember this: Order precedes growth.  In order to gain financial literacy and grow your income, you have to develop your mindset.  What you think is what you become and/or have.  So if you have a broke mindset, you will have a broke lifestyle.  Also change who you hang around and associate with.  Most people hang around broke, broke minded, complaining people and then wonder why they are broke as well.  Remember this: If you hang around 9 broke people you are bound to be the 10.  The same truth holds that if you hang around 9 wealthy, financially independent or people in either process, you are bound to be the 10th.  Which group are you associating with?

Here are list of books to help get you started:

Rich Dad/ Poor Dad by Robert Kiyosaki

Think and Grow Rich by Napoleon Hill

The 5 Wealth Secrets 96% of Us don't know by Craig Hill

Develop your mindset...everything else will change.

So there you have it. Now that you know...DO SOMETHING ABOUT IT!! 

In order for things to change, you have to change!!!

I'm here to help you. 

To your new financial health,

Marlon Hurd

Home Based Business Professional
hurdsllc@gmail.com