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Creating True Wealth   

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Issue 92 / August 6, 2010 / ISSN 1945-9300   

 

  

  

IN THIS ISSUE   

 

Featured Article by Daniel R. Murphy

 

7 Habits to Fatten Your Purse   

 

Lincoln's Wisdom by Daniel R. Murphy   

#7 Friendship   

 

Guest Article  

Mastering the Earning Game by Jack Canfield 

 

Your Time: Your Most Valuable Asset by Roger Thomas Lincoln

 

Be More Productive - 5 Great Tricks and Tips  

By  Alison Flintson  

 

Read the Creating True Wealth Blog   

 

  

 

Successful people read - Reading leads to Success!   

 

  

  

Habit is the Source of Wealth   

 

Today's articles discuss the habits that if practiced regularly will do more to insure financial stability and build wealth than anything else you might do. 

 

People tend to seek quick fixes and find the easy road to riches. This is a trap that leads to failure for the vast majority who go down that road. Long term habits and discipline are the real source of wealth. 

 

If you do not like to be self disciplined and are not interested in forming wise habits in your personal financial decisions the consequence will likely be poverty or at least financial insecurity. It is your choice. Today's articles teach some of the most important habits and disciplines that can create true wealth.  

 

Of course money is not the sole definition of wealth as we see in the article on Lincoln's Wisdom. Creating wealth through the cultivation and preservation of friendships can be as valuable as any bank account.  

 

Wishing you the best, 

 

Daniel R. Murphy  

Books2Wealth.com   

  

 

Visit my blog at:  

Blog: http://books2wealth.blogspot.com/   

 

Send your questions and suggestions to me at:  

Email: info@books2wealth.com   

 

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Learn from a Legend!  

The late Jim Rohn is a legend in the personal development field. For over 50 years he taught and inspired millions of people to succeed and exceed their expectations. His philosophy of personal development is fundamental and proven. Read more about Mr. Rohn and his timeless wisdom here.   

 

  

  

Inspiration in a few words:  

The secret of success is constancy of purpose. - Benjamin Disraeli 

 

  

 

Featured Article by Daniel R. Murphy

 

Category: Wealth Building  

 

 

7 Habits to Fatten Your Purse

Early in the 20th century success writer George S. Clason wrote a fable called The Richest Man in Babylon. In that book, and another pamphlet he wrote he set forth the 7 most important habits to fatten the purse. He used a fable approach to writing to interest readers who might not otherwise read on a dry subject like personal finance.  

 

The seven habits he describes are as valid today as they were over 80 years ago when he first wrote on them and they are well worth repeating and adopting.  

 

The first habit is to pay yourself first - to maintain the strict discipline of setting aside 10% of your income to long term savings. People then as now protest that they cannot set aside so much because all of their income is consumed for the "necessities of life". As Clason pointed out however people tend to spend relative to their income. The more then earn the more they spend. In fact most people at one time not long ago earned 10% less than they do now, yet they somehow survived. Through careful budgeting and management of spending almost anyone can save 10% each month. However if you cannot save 10% save what you can. 

 

The second habit then is to control your expenditures. For many this is the most difficult. We all want more things and more services. People want newer cars, nicer homes, and better clothes. Each time you contemplate an expenditure you must ask yourself if this is truly a need or a desire and temper the desires to maintain your discipline of saving. 

 

The third habit is to wisely invest your savings to make them grow and to then reinvest the earnings rather than spend them. In time this will cause your savings to multiply many times. 

 

The fourth habit is to carefully guard your savings by avoiding risky and poorly thought out investments and schemes. It is especially wise to avoid the get rich quick schemes that are so plentiful and are designed primarily to separate you from your savings. 

 

The fifth habit is to make your dwelling a profitable investment. Home owners are usually wealthier than renters. Home ownership provides tax benefits that renting cannot. Home ownership and investment is a first step toward building genuine wealth. Because people are usually reluctant or slow to divest themselves of their home it is a built in safeguard to your wealth.  

 

The sixth habit is to insure your retirement income by wisely investing sufficient sums in lower risk long term investments for retirement.  

 

The seventhhabit is to increase your income through self improvement and increasing your ability to earn more. In today's world, where jobs are no longer as stable or secure as they once seemed, this may include creating your own business. 

 

If everyone followed these seven habits few would find themselves in financial distress and would in a lifetime build genuine and considerable wealth.  

 

Write these habits down and establish them as your guiding financial goals and habits. They will pay you back many times.  

 

George S. Clason was a soldier, business man and author. Beginning in 1926 he wrote short books and articles on thrift and financial success. Many of his pamphlets were given to customers by banks and thrift organizations, what we today call Savings and Loan.  

 

  

Lincoln's Wisdom by Daniel R. Murphy 

 

 

Chapter: 7 - Friendship 

 

Lincoln knew how to make friends from an early age and despite often having a difficult schedule, especially in the White House years, he continued to keep those friendships alive through a lot of correspondence. When friends came to call on him at the White House he always made time to visit with them.  

 

Lincoln, like his father, was a friendly and social individual. He loved to tell stories and crack jokes. He was especially enjoyed by men. Lincoln's many stories and anecdotes would fill evenings and bring many others to tears or laughter.  

 

Lincoln also loved his solitude despite how gregarious he was. It seemed that when he withdrew to be alone it made people want to be with him even more. 

 

Lincoln understood the value of friendships. His friends helped him at every critical stage of his legal and political career. He also understood that friendships take time to cultivate and perpetuate and he was willing to devote that time.  

 

Friendships are very important, today as much as they were in Lincoln's time. Learn from his wisdom and develop your own friendships spending the time to keep them alive and vital.  

 

  

Guest Article  

Category: Success / Personal Development

 

Mastering the Earning Game
by Jack Canfield  

When faced with a challenge, some people freeze. They stop taking action.  They drift or coast, hoping that the problem will disappear. They blame, complain, whine, or moan about their circumstances.  

You have another option: Take 100 percent responsibility. In an unreliable economy, pointing your finger at the president, oil producers, mortgage lenders, Wall Street, or your boss takes your attention away from the inspired actions that will improve your financial well-being.  

Starting today, move into action.

 

The things that you do during the next few months will dramatically affect your earning power and financial resilience for years to come.       

Focus on Your Core Genius

 

Socrates said it best: "Know thyself." Those two words offer timeless wisdom about attracting wealth.  

Inside you is a core genius--something that you love to do, something that's effortless and fun. When engaged in this activity, you feel fully alive. Time disappears, and you disappear into a pure state of flow.  

This activity is your core genius. It might be teaching, coaching, writing, painting, acting, selling, computing, or accounting.  

Whatever it is, discover it. Connect it to a demand in the economy. Then make this activity the cornerstone of your career.  

Dan Sullivan, a successful strategic coach, describes entrepreneurs as con artists. They get people to pay them for doing something that they love to do--and would otherwise do for free.  

"The biggest mistake people make in life is not trying to make a living at doing what they most enjoy," said Malcolm Forbes, former publisher of Fortune magazine.  And as a multimillionaire, Forbes knew something about attracting wealth.  

Delegate the Rest

 

The flip side of doing what you love is letting go of the rest. Successful people focus on their core genius--and delegate everything else.  

You can use the same strategy. Perhaps your core genius is sales. Then ask your manager to let someone else process paperwork, make photocopies, and schedule meetings. If your core genius is training, then find someone else to call prospective clients and process seminar registrations.
If it can be done faster, better, and more cheaply by someone else, then let it go-- once and for all.  

Create More Value

 

When customers are hard to find and revenues decline, people often rivet their attention on the bottom line. The dominant question becomes: What can we do right now to make more money? Actually, there's a more powerful question to ask first: What can we do right now to create more value? This shines a spotlight on the only reason that anyone makes money over the long term in the first place--by selling a product or delivering a service that creates value.  

Mike Milliorn used to work as an Avery Label salesman. Some of his customers were restaurant managers who needed labels for food containers. The problem was that conventional labels dropped off containers when they sat for days in a refrigerator. Mike saw the need for a new kind of label, preprinted with the days of the week and an adhesive that survived refrigeration. He knew this would create extraordinary value.  

Mike suggested this idea to Avery, but the company wasn't interested. So Mike started producing the new line of labels on his own. Working out of his garage, he started a company called Daydots--which he sold for millions of dollars. He attracted that wealth simply by taking action on a simple idea to create more value.  

Deliver What You Promise--and More

 

Even in tough times, successful people deliver what they promise. Then they add extra value by delivering a product before it's due, by adding new services, or by offering a competitive price.  

Adding extra value could call for more action on your part. You may need to gain special skills, make new contacts, or put in some more hours at work for a while. That's a small price to pay for attracting new levels of wealth.  

Make it a habit to exceed expectations. You'll get noticed. You'll get repeat business. And you'll attract new opportunities in every area of your life.  

Remember the True Meaning of Attraction

 

A limo driver once asked me how to achieve financial success. I told him to save 10 percent of everything he earns, invest it, and keep reinvesting the dividends. By the look on his face I could tell he was disappointed. Like so many other people he was looking for a get-rich-quick scheme.  

The desire for such schemes is one reason for the global mortgage meltdown. Too many individuals and organizations believed that they could live well beyond their means. They piled on debt without creating value. The consequences are affecting all of us.  

Attracting wealth is not the same as pretending to be wealthy. Rather, the Law of Attraction is about raising the vibrational level of your intentions and actions. When you do, the results unfold in a way that enriches you--and the rest of us.  

© 2010 Jack Canfield 

 

 

Jack Canfield, America's Success Coach, is the founder and co-creator of the billion-dollar book brand Chicken Soup for the Soul and a leading authority on Peak Performance. If you're ready to jump-start your life, make more money, and have more fun and joy in all that you do, get your FREE success tips from Jack Canfield now at: www.FreeSuccessStrategies.com   

 

  

Your Time: Your Most Valuable Asset by Roger Thomas Lincoln 

 

 

Here is another article on how to manage and use your most valuable asset: time. Time is the one asset you cannot buy, borrow or steal. You have a fixed amount, the same amount as everyone else. How you use that time may have more to do with how successful you will be than anything else you manage. RTL.   

 

Be More Productive - 5 Great Tricks and Tips  

By  Alison Flintson  

 

In our busy lives, we are not always as productive as we can be. Over the course of working for many years, I found a few ways to help me be most productive. Today I'd like to share a few of them with you: 

 

Keeping your desk space clean   

 

A cluttered desk and be one of the most distracting elements in the workplace. In order to be most productive, a clean workspace is essential. It is important to remove any unwanted items, such as old paperwork, broken pencils and pens, or even personal items. One would be surprised at how much a clean workspace will in crease their productivity. 

 

Organize yourself   

 

In the workplace, being organized can increase productivity more than anything else. If you know where all your supplies are, then find what you need is very easy. You will not have to waste time looking for anything. It is important to remember that every second that is saved ads up over time. Even if it only saves you an extra 45 seconds every time you go to look for something, it will add up over time. 

 

Set clear goals   

 

In order to be most productive, it is important to have clear and concise goals. A goal-oriented person is one who knows what they want to do, and how to accomplish it. Knowing what the task at hand is will save you not only time but also headaches later down the road. A great way to set goal is to keep a list of things you need to do. 

 

Keep a to-do list   

 

Keeping a list of things to do is not only a way to organize yourself and your thoughts, but also shows you what work needs to be done. This helps a lot in time management. Knowing what needs to be done lets you plan out your day and give a specific amount of time for each task. By setting out a specific amount of time to do something, you're pushing yourself to complete the task. This also makes sure that you will finish all the tasks before the deadline. 

 

Leave personal issues at home   

 

There's nothing more distracting than having something on your mind when you are trying to complete a task. Try to leave all the stress and personal issues at home, and not at the workplace. This will increase productivity tenfold. Though it may be difficult to put these issues on hold, it is essential to increase your productivity. An increase in productivity is important for getting a promotion or just being a better employee. 

  

 

Alison has been writing articles for over 3 years now. Come visit her latest website over at [http://cheap-healthinsuranceshortterm.com//]http://cheap-healthinsuranceshortterm.com/ which helps people find the best [http://cheap-healthinsuranceshortterm.com/]cheap health insurance short term plans they are looking for when comparing insurance companies.   

 

Article Source: [http://EzineArticles.com/?Be-More-Productive---5-Great-Tricks-and-Tips&id=4691419] Be More Productive - 5 Great Tricks and Tips   

 

  

 

You do not have the time to read everything on the internet or in books published in the past or today about success and self development. Creating True Wealth reviews that material for you, condensing it into concise bites you do have time for, and leading you to those books, magazines, blogs and websites that will offer you more. 

 

 

  

  

I hope you will find the information in the Creating True Wealth newsletter useful. Future editions will highlight other books in the fields of business, sales, motivational materials, self help literature, psychology and other related fields. This newsletter is published weekly on Fridays. - Daniel R. Murphy, Publisher. All content is written by Daniel R. Murphy unless noted otherwise.  

Disclaimer: Nothing in this ezine is intended nor should be relied upon as professional legal, medical or financial advice. If you need personal legal or financial planning advice you should consult a licensed attorney, accountant or financial planner. If you need personal medical advice you should consult your medical professional.  

© 2010 by Daniel R. Murphy  

All Rights Reserved. You may use the content of this ezine in your publications if you include the following acknowledgement:   

 

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Learn from a Master of Success

- the late Jim Rohn.

No one has spoken to more audiences around the world or sold more audio programs around the world than the great Jim Rohn.

He was a giant in the self development industry for half a century.

Jim is no longer with us but fortunately his wisdom and teaching does remain for us to use.

Learn more about this legendary self improvement teacher and the fantastic educational materials you can obtain here.



 

 

 

 




 

 

 

 

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