redips: A Financial Success System That Works For Your Budget

Financial success is something that eludes most people. Less than 3% of the population are millionaires. The fact is that over 60% of U.S. citizens are in debt up to their teeth and most of them have no plan to get themselves out of debt. These people have no plans because it is too hard or complicated for them to develop a financial success system that works into their current financial situation: managing their "good" vs. "bad" debt, refinancing their home and cars when it makes sense, and coming up with a game plan on how to generate more income for themselves.

Income generation is a tricky subject on the Internet these days. With all the "get rich quick" schemes, misleading ads, and shady characters who lurk in the shadows, the person seeking to develop a financial success system is in constant peril of finding them self in a worse financial situation than they are in.

Here are my simple yet effective tips for creating your own Financial Success System:

1-Get a Handle on Your Life

a. Get a handle on your debt. Most people do not even know how much debt they are in. Get the numbers, find out how much you owe in total and how much this payment breaks down to every month.

b. Get a handle on your income. Find out how much are you bringing in every day, every month, and every year.

c. What is the total when you subtract what you owe from what you make? Is this a positive or negative number? Remember this number.

Now we need to come up with a solution to create more income coming in than payments going out.

2-Find Solutions to Increase Your Income

a. Get a handle on your spending. Break down where your money goes and why. Are all of these expenses necessary right now?

b. Set goals for when you will be out of debt. These goals should follow the S.M.A.R.T. guidelines.

Specific Measurable Attainable Realistic Timely

c. Begin researching different ways out of your money situation. Beginning a home business may be a good start to solving your money worries. A home business, while often unprofitable for their first several months, gives the individual tax breaks for many of the everyday expenses that we all face, thereby reducing the high cost of everyday living.

However, there are several factors you must weigh before you get involved in a home based business.

These factors are (In Short):

1. The cost of the opportunity-how much does it cost to get started.

2. The cost of marketing your business-how much is it going to be every month in order to advertise? Before you start you must answer this question. (I have met too may people that got involved in a home based business without the realization they would have to advertise it. You must have a marketing game plan in place.

3. Who is going to teach you how to become successful in business-there are many people claiming they are home business "gurus". You must trust who you go into business with and your personal philosophies must mesh with theirs. They must be knowledgeable about marketing. How you will find a target market. How to communicate with people. And how to keep your business advertising costs to an absolute minimum while still being effective as far as profit.

4. Quality of the product-what is the product and how are you going to feel representing it? It should be a product that people will buy even if there is not a financial opportunity attached to it. Money games are not a viable and long term source of revenue.

Creating and sticking to a financial success system is key to changing the circumstances of your life. Many people, when they get involved in a home based business do not research their opportunities well enough before making a financial decision. Being comfortable and confident with your business plan is key to becoming profitable quickly from your business.

Ever wondered how to get great people into your lead-gen or sales funnel? If you want more prospects you need to read Jesse's 5 Tips For Network Marketing Lead Generation

Have you ever wondered what 7 more sales a week would do for your business? Check out the author's blog if you'd like to discover the lead generation and network marketing strategies of the best marketers on the Internet.

And if you prefer Hubpages, Jesse's an expert on lead generation there too!

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Tuesday, June 10, 2008

A Financial Success System That Works For Your Budget

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