According to MoneyMinding principles you want to take the 12th Step AFTER you have built your financial foundation and have a good grounding in the first eleven steps of minding your money.
The 12th Step is only for the adventurous and those who have a spirit of adventure and a high risk tolerance because their foundation is solid.
Here we seek much higher yields than mainstream financial options. However, with higher gains come higher risks. Greater risk is always a part of greater opportunities. If the risk is gone so is the opportunity.
If you want to enjoy great opportunities you have to accept a certain level of risk.
To learn more about Moneyminding go to: MoneyMinding.com
MoneyMinding Quick Steps
Before you begin ask yourself the following questions
- Why
am I doing this?
- What are the consequences of not succeeding?
1. What are your biggest life priorities? Why? Begin with your list of 101 blessings.
2. How much do you need – specifically on a monthly basis? By when? Make your list of 101 desires.
3. What are you starting with? And what are the details of your current financial affairs including debt, credit available, assets, income, and expenses. This needs to be in.
4. Organize what you have so you have a plan for what to pay first, second, third, etc. as well as where set up record keeping systems for income and expense tracking.
5. Implement a pay yourself first program with your banking and identify and begin tracking your giving.
6. Brainstorm your 101 list of potential income generating ideas.
7. Build your network of supportive people and financial professionals. Make sure you have a way to keep in touch with them.
8. Identify and protect against potential and current risks to give yourself peace of mind. Insurance and legacy planning as well as facing past challenges is part of this process.
9. Get access to cash through credit, savings, or joint venture partnerships.
10. Invest in income producing ventures such as businesses, real estate and / or income securities. Start small and learn to create income from a small investment say of $10, then $100, then $1000, $10,000, $100,000, etc.
11. Add long term growth investments that you plan to buy and hold. Make sure you have identified your exit strategy before you buy.
12. Then have fun with more creative, higher returning opportunities. And share the process with others.
Including Your BONUS
12 Lesson Money Minding E-Course
