Today we’re actually going to talk about financial security. So I've got my trusty whiteboard. Let's hope this is going to actually work out because I'm going to be drawing some stuff. So I'm going to show you how to build your financial security.
So first step, we're going to actually build a house. So the foundation for your house is PROTECTION. So the first step in building a financial security is protection. So to protect your assets, to protect whatever you have. So this comes in form of insurances to make sure that you are protected, that if anything happens, you got it covered. So, the first step towards your financial security is protection. So make sure that you're protected, make sure that you’re insured.
Second step to building your financial security and financial house, the first floor is CLEAR DEBT. So first, you need to protect, so you need to make sure that your all finances are protected, that you've got the right insurances, life insurance, health insurance, income protection, insurance, whatever. I'm not an insurance salesman. I'm not trying to sell you some insurance, by the way, but you need to have that stuff because just in case, you never know. Then the second step is you have to clear debt because again, for a lot of you, the debt, your credit card debts, your car loans, your mortgages, and everything else is choking you to death. It's basically draining all the money from you all the interest rates. So you need to make sure that once you're protected, then you go ahead and clear that debt as fast as possible. So that's the second step towards building your financial security.
Okay, third step is to REDUCE OUTGOINGS, so I heard it some time ago and I really like, it said, “If you’re out go exceeds your income, then your upkeep becomes your downfall.” It’s clever. So first, you need to have the right protection, make sure that you're protected for all the bad things that can happen, then you need to clear the debt, that you have and third step, you need to reduce outgoing. So if you want to become financially secure, you need to make sure that you stop spending money stupidly, you need to start respecting the money. I was one of those people who didn't respect money and I didn't have any. So it's really important that you start respecting the money and you try, you reduce the out go, if you’re in a bad place right now, if you’re broke, if you're struggling financially, first thing you should do is start cutting down on your expenses. Well, so that's the third step.
Fourth step towards your financial security, is INVESTING. So that's the fourth step you need to start, once you start making money, once you start getting out of debt, once you start having some spare income, you need to start investing that. Now again, I'm not a financial advisor, I'm not qualified to advise you how to invest money, but you should start investing money. If money just sits in your bank account. It's not doing much for you. So you need to make sure that you start investing it wisely. Don't just go and put all your money in the next pyramid thing. I don't do those stupid things, but stocks, shares, property, you know that stuff, bonds and things like that, get advice from a qualified person, but start investing the money so that the money starts making you more money. So, that's fourth step.
And then the final step, step five, so we're finishing our house, if you want to get financial security is MAKE MORE MONEY. So the first one protection, you insure yourself, you make sure you're protected against accidents and things like that, then number two you clear debt, you get rid of all the stuff that is draining your money out of you with high interest rates and things like that, then step three, you reduce the outgoings, you reduce the expenses, step four you start investing some of the spare income into whatever is going to make you more money. And then finally, step five, you need to start making more money.
Now, how can you make more money, maybe you can spend more hours at work, do more over time, go and do the newspaper rounds, whatever, mown loans, figure out a way to make more money. Now, for me, my favourite way of teaching people how to make more money is to get into network marketing, a home based business because network marketing for an ordinary person is the best option to start making more money because its lowest risk, lowest overhead way to get into a business, you don't have to invest hundreds of thousands of pounds to buy property premises, hiring staff and things like that. When you get into network marketing, that company takes care of everything for you. They take care of logistics, they take care of accounting, they take care of payroll, they take care of everything. So for you, it's a very easy way to get into a home based business, start making more money. So you have more money to invest, you have more money to clear your debt, you have more money to protect yourself and so on and one day that home based business, that part time thing can actually become full time and start giving you really, really good income because network marketing allows you to build passive income. And passive income is the best kind of income because you make it whether you get out of bed or not.
Today, I spoke to somebody, I think on Instagram, if I'm correct and they said, “Oh, I wouldn't like to do network marketing, because you have to go selling products to your neighbours all the time.” And I go like, “I don't think you understand what network marketing is.” Network marketing is not about selling products to your neighbours for the rest of your life, network marketing is about building passive income that's going to come into your account whether you're healthy or you're sick, whether you’re at home country or you’re away, whatever happens, the money's coming into your account, it's passive income.
Now, can you sell products in network marketing? Absolutely, you can sell products in network marketing and make a really good extra income from that but that's not what network marketing is about. Just selling products would be just direct sales. That's what direct sales do. They just go and sell, sell, sell, but if you don't sell next month, you don't make any money. Network marketing is not about that, network marketing is about building a network of consumers, of sellers, of business builders and that network is paying you income every single month because the company appreciate you investing your time, effort and possibly money to build that network to attract these people to the business, then they reward you on the volume of your entire organisation.
So imagine if you started recommending Tesco’s or Sainsbury's or Walmart to people and every time those people went to shop at the supermarket, you would get paid. That'd be pretty awesome, wouldn't it? But obviously these big supermarkets are not going to do it for you, but in network marketing, that's exactly what happens every time I recommend somebody to go and shop at my network marketing company, I'll get paid for that for the rest of my life. The best way of earning money I know, I don't know a better way how to earn money. So that's the lesson for today guys, that's the financial security lesson for you for today. Make sure that you're protected, make sure that you’re insured, God forbid, something happens to you, make sure that your family is protected and secured, clear your debt, get rid of your credit card debts, get rid of your car loans, get rid of your mortgage if you can, then reduce your outgo. I don't mean like live on bread and water and don’t allow yourself anything, but you know the stupid stuff, the stuff that really you don't need to have it, you don't need to spend on it, but you just spending on it every single month, cancel that stuff, get rid of all of that stuff. Then start investing your money so your money starts making you more money.
So whatever it is, just find ways to invest in wisely not one of those that gives you 50% profit monthly. If it sounds too good to be true, probably it is. Consult a professional and finally start making more money. If you've been in the same job for the last five years, 10 years, 15 years, and your income is not changing much, guess what the next 5, 10, 15 years going to be pretty much the same. So if you want to change your life, you might want to start looking at different things, how you can start earning some extra income and if you're interested in earning extra income, just drop me a message. I'll be more than happy to share some interesting info with you.
Hope you got value from this blog post. I'll see you at the top.
Yours in success
In : Network Marketing
Tags: "network marketing" protection "clear debt" "reduce outgo" invest "make more money"