What you are about to read was initially going to just be a short post on Facebook! It quickly turned into a blog post as I was writing LOL.
Now I don't mention my business much on-line publicly, however today I wanted to share with everyone one of the many benefits members can have.
We have our product subscription and monthly business fee as most companies do. We also give our business builders and option for more advanced training and personal growth by offering a specific training development membership which integrates with Success.com.
If you aren't aware success.com is on of the main credible resources for all high end earners in entrepreneurship and Home Business.
This Is NOT A Sales Pitch!
Now this isn't a sales pitch at all so please don't read this wrong LOL I share this so that you can understand the importance of your personal growth in your life and business.
Also how this particular aspect of my business has given me the opportunity to explore the whole personal growth and motivational area of life.
We all suffer stressful, hurtful, upsetting and distressing situations in life whether we want them or not and we can sometimes over react or feel too personally affected by something to find a suitable response or solution.
If it wasn't for this membership option I would not be writing this today for you. It has personally helped me on the road to improving how I think, view and act about situations that have occurred in my own life and leads me onto the main subject for today about how your mindset is for your money management.
If you have children of an age where they do little jobs around the house for pocket-money then you will certainly relate to what I am going to share next.
Why YOUR Children Must Learn This Skill
All 3 of my children do jobs for pocket-money around the house so they can learn money skills, especially money management.
When I started in the Home Business profession I heard a CD from Jim Rohn and his philosophies for life etc and one was about how to manage your income.
Just recently I was reminded of this philosophy when I watched Darren Hardy on one of his morning daily videos go over this philosophy and then when going through our members area I came across an article from success.com which also explains this philosophy also in detail.
Now I know you must be thinking what's this got to do with children and my company, well it has a lot for the following reasons…
1. Children earning pocket-money is great but are they learning the true value of the money earned and saving it wisely?
2. If they are saving it where and how are they saving it?
3. Does your Home Business company give you access to the best personal growth leaders for life and business everyday?
4. Why do most successful people rate personal growth so much?
The 70/30 Rule For YOUR Income
Here is the formula and example to help you see and understand how you can apply it to your personal situation. (This is a personal example which I use in my life).
Take your total monthly income and deduct your taxes and essential bills. (Electric, gas, water, and food). Yes the bare essentials!
Once you have deducted those from your total take 70% of the balance and put that to one side.
This is very simple.
Make a list of personal growth/skill based course and a list of charities that resonate and mean something personally to you. Once you have your list split your 30% into 3 equal amounts.
The first 10% you will donate to charity. This is to be done and is most important, because by giving to others no matter your circumstance is very powerful.
One you feel good for helping and contributing to something greater than yourself and secondly the more you give out from within you the more receive back from the world!
Don't ask how it is a law that never fails in this world! The laws of attraction and the powers of the universe just plain and simple work.
The second 10% you will invest in your own personal growth/skills. Now I appreciate that at the beginning this 10% may not be enough to get a course or to get started with a new skill.
You will have to think outside the box with this 10% and work out how you can invest it maybe into your existing business like for marketing etc to generate a larger income. If this is you right now then be sure to tap into as many free resources for your personal development as this is a requirement for you to succeed no mater the income.
The third 10% I want you to put into savings. Yes Savings whether that's as simple as a savings bank account or whether you invest it in whatever, be sure that it is going to grow with out you having to work with it.
Now to the 70% you have left. This is yours! All yours! This is for the other bills you have like phones, car insurance, fuel, etc etc.
For me I was living hand to mouth and borrowing here there and everywhere in order to survive. To the extent that by the time I was shown the 70/30 rule I couldn't separate the income and nothing at the end. What I did do though was work out a plan to make this viable and worked tirelessly to make it happen.
I also have made sure that my children implement the 70/30 rule from the outset so that they can grow this as the norm for them.
This way when they are adults they will automatically have money to invest in themselves and donate to charity as well as continually growing their savings while living and growing within their means without debt or concern.
Why does it matter what Home Business you are building? Well it matters because if you aren't learning life skills alongside business skills then you are leaving not money on the table but your life on the table!
Seriously everything in life is based on YOUR mindset and motivation levels each and everyday of your life.
If you aren't looking after those two aspects then you may well earn from a payplan to a certain level or income, but you will end up where you started if you haven't learned how to look after your money and your mind!
Yes but true….
If you found anything beneficial and useful for yourself in this post then others will too, so be sure to like, share and comment below. It's great to share and I am thrilled you found today's post ‘Why You need To Apply This Rule…' a benefit to you.
Looking forward to replying to your comment!
Make Today Count
Top Image taken from http://www.success.com/article/rohn-3-money-habits-that-separate-the-rich-from-the-poor