Thursday
5 Ways To Make A Money Tree
A money tree is your ticket to financial freedom. Okay, so how do you make a money tree, and what in the world is a money tree?
In order to make a money tree you must first take action to gain control of your personal finances. A money tree is a series of actions you can take to create wealth, starting from where you are today. Each of the steps listed below are like branches on a tree.
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Here are five specific things you can start today to gain control of your money and make a money tree.
Step One
Reduce your consumer and non-mortgage related debt. This means cutting back on nights out on the town, selling the boat in your driveway, and getting rid of the “stuff” collecting dust in your rented storage unit. The idea here is to save money. This first step is the seed that will help you make a money tree.
Step Two
Use the money from your budget that was once obligated for payments to your recreational vehicle and storage unit type expenses and place all of it in an interest bearing savings account. Sure, interest rates are terrible, but the purpose of saving is to reduce spending. You use this step in your make a money tree progress to nurture the seedling into a self-sustaining tree that can bear fruit for life.
Step Three
Allow your savings to accumulate. Once you have saved enough money to equal at least three months worth of your normal living expenses you have overcome the toughest obstacle in your make a money tree goal. This process can be sped up by finding ways to create multiple streams of income, which is the next step.
Step Four
Don’t get a second job. Instead, start a small home business that will provide positive cash flow into you pocket immediately. Here are three ideas for creating multiple streams of income you can start today:
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Step Five
Now that you have money saved in the bank, a growing home business, and have taken control of your personal finances, it’s time to go for the big enchilada. This is where you add fertilizer to make a money tree grow fast. Simply put, in this step take the methods you have used to achieve a positive cash flow in your home business and multiply them by 10. This may sound impossible, but with the right information, you can learn how to make a money tree on automatic pilot.
The steps to make a money tree are not complicated, but they do require desire and motivation to succeed. If you truly want to take control of your money and gain financial freedom, then it is time to make a money tree by learning to save, invest, and build a home business.
Interested in learning more about niche marketing?
Check out my blog on nano niche marketing at Squidoo:
Nano Niching Your Online Market
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