Monday , 21 August 2017


"Put More Cash in Your Wallet: Turn What You Know into Dough" – A Book by Loral Langemeier

You too can live comfortably and buy the things you want without worrying about how to stretch your income even further — you can even pay off your old bills in the process! Get out there and start making money! Words: 911

So says Loral Langemeier (www.yourmoney.ca) in edited excerpts from her original article*.

[The following article is presented by  Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and the FREE Market Intelligence Report newsletter (sample here – register here) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]

Langemeier goes on to say:

Scrimping and Saving is Not the Only Answer
When finances get tight, the easiest — and most reflexive — thing to do is to scrimp and save. This is the opposite of what you need to do to breathe easier. The best thing you can do when finances get tight is to focus on making more money.

Basically, there are two parts to money in your life: the money that flows in (your income) and the money that flows out (your expenses).

In my experience, most people focus too much on the money that flows out when they should put their time and energy into the money that flows in. For example, let’s say you want a new dishwasher. Many people will choose to cut back on another expense so they can afford the dishwasher. They’ll wait to fix the car, or give up the paint job on the house.

There is no need to do that. There is no need to decrease your outflow of money. That is a negative use of time, energy, and ability. It is better to be positive and focus on how to increase the inflow of money to you. An extra $500 to $1,000 a month is out there, waiting for you. Let’s get it to flow into your pockets, because $500 to $1,000 extra a month could go a long way toward getting a new dishwasher, fixing the car, and painting the house.

There is nothing sadder, to me, than watching hopeful human beings take advice to cut off their dreams and redirect their spirit to getting small.

I am here to tell you that you absolutely, positively can stay in your dreams and get bigger. I don’t know about you, but I don’t think it’s a lot of fun to restrict my life. Not that I live extravagantly, but I do like the simple pleasures: a latte, a weekend movie, new shoes now and then. These things shouldn’t give me stress and they don’t. Because when I need or want something, I generate more cash to pay for it. I don’t save for it or pay for it with a credit card. I go and make the money and it’s always easier than I think it’s going to be.

Dealing with Debt
There is so much judgment around credit card debt these days. I actually find it motivating. When I see clients with credit card debt I know they want a big life; they just don’t know how to pay for it yet. Instead of suggesting to clients that they give up their lives and focus solely on paying off that debt, I suggest they go make more money to pay off that debt.

When you realize you can make money fast, an extra $500 to $1,000 of new money every month, you will also realize you can use a lot of that new money to pay down credit card debt.

Easier said than done? If you’re making $500 to $1,000 extra a month, imagine how much easier it would be to pay off those credit cards. Once you start making this cash, fast, you will be able to direct some of that money to getting rid of your credit card debt. With the $500 to $1,000 extra a month you’ll be making, you’ll find this debt-elimination process very doable.

Soon enough you’ll be debt free and better able to start buying things you want without scrimping and saving. The best part is you will be excited and re-energized daily because you’ll be making more money, getting rid of financial problems, and acquiring the things you want to make your life easier and better.

In addition to promoting saving or scrimping, too many financial experts rely on the markets for making money. The markets, whether we’re talking about the stock market or the real estate market or any other arena where investors are subject to emotional swings and forces beyond their control, are not reliable places to make more money.

Historically, the markets have created money for some people and lost money for others but if you want a sure thing, a way to make a definite $500 to $1,000 a month, then you need to rely on one thing you can be sure of, and that is yourself.

Contrary to popular belief, that doesn’t have to be a lonely prospect. I believe strongly in creating a community of self-reliance. That is, relying on your skills and ideas while enrolling others who can support you and whom you can support in their efforts.

This country was built on self-reliance, on the backs of men and women who used their skills to make things better. This is a great country because the people who built the core of it didn’t play games or speculate. They knew what they wanted and they created it. This attitude is the American spirit, and you are going to grab a piece of the American spirit and make your life better.

*http://www.theloop.ca/living/money/your-money/ (© Bell Media 2013 All rights reserved)

[Editor’s Note: The above article consists of reformatted edited excerpts from the original for the sake of brevity, clarity and to ensure a fast and easy read. The author’s views and conclusions are unaltered.]