Financial Habits You Need To Get Rich (Part 3)

The last instalment of this series focuses on teaching yourself, and learning how to do things that will benefit you, rather than others.

Learn How to Invest
This is one of the greatest assets that you can either teach yourself, or learn from the best.

Knowing how to invest your money to make more, or to increase its value in other ways is a great way to start making money that you never thought that you could.

Things like buying something that you can lease out the wider community (like a trailer) is a good example… you may have to pay a bit of money for the trailer in the beginning, but if you work it right, and you have people renting it every day for a set fee, you’ll find that you make your money back sooner than it took you to make it in the first place!

Stocks, the trade market and the virtual stock trading are other profitable places to make some extra money, and of course, there is always a start-up (however much less than an asset) and the rewards are slower to be seen.

But although this is the case, there are generally always rewards, given that you do your research…

Never Stop Learning, Researching or Reading
You may think that heck, you haven’t read an actual book since you left school, that reading is for nerds, or it’s just not for you cause it makes you sleepy; but once you realise that most of the more wealthy people in the world have never just sat back and waited for their fortune, you should start to think differently.

Those that want to be successful work hard to be where they are today, whether that be putting in long hours or dedicating an hour of a morning or night to reading a book based on their niche or interest area.

If you’ve read some of our other posts about good habit making, you’ll know that it takes 66 days to make a good habit. If you begin to get yourself into good habits (such as reading and researching) you’re likely to become addicted to knowledge and never want to stop, which is GREAT!

Don’t Focus On Other People
This is one of most people’s biggest downfalls – worrying what other people are doing, rather than what they’re doing.

Examining what your colleagues are doing to get them a promotion can be good, but once you’ve realised what that is, don’t focus on it, telling yourself that that’s what you have to do to keep moving forward.

You’re not a clone of them, you have to find your own strengths and weaknesses within yourself and work hard in these areas to make yourself stand out. Once you’ve done this, you may find yourself on top of the podium.

Sometimes it’s hard to think outside the box, or even begin to work out which direction you should take yourself to make more money, and that’s quite okay.

Begin researching (and reading posts like these) to try to set you in the right direction!

Don’t forget you’re always welcome to email us for help!



App Review!

Just for something completely different, we’re going to do a little post on some productivity apps that are absolutely wonderful to get your mind in the right place when you need it to be.
Forest: $2.99

The first one that we’re going to cover is one of our favourites.

How it works

The main aim is to prevent you from using your phone or any mobile device for a set duration of time, but gives you the motivation to do so in the form of planting virtual trees. If you exit the app while your trees are growing, they’ll die.

What we think
Forest is definitely up there to be our favourite.

It makes for a good competition to see how long you can go and what you can unlock.
The best feature and why we love the app so much is because if you plant enough virtual trees, you plant a tree in real life with the coins that you collect.

Forest has a rating of 4.8/5. We give a 4.9.

Moment – Screen Time Tracker: Free – in app purchases (IAP)
The second one we checked out was Moment, and were pleasantly surprised…

How it works
This app simply tracks the amount of time that you spend on your phone, how often you pick it up, and teaches you how to reduce your screen time. It also includes so many helpful features.

What we thought

Moment absolutely blew us away as to how much time we were wasting on our phones playing games
and places like Facebook, Instagram and Snapchat.
Moment has a rating of 4.5/5. We rate it a 4.5 as well.

Productive – Habit Tracker: Free – (IAP)
Another great app that helps you to build a routine of good habits.

How it works
You’re able to set personal goals, track your progress and motivate yourself to keep going and achieving bigger and better things. Statistics help you to stay on track and although we didn’t go for the premium, it looks to be worth it.

What we thought
Sexy style, easy to use, and has heaps of features that help you to better every aspect of your life –definitely on par with the next app, although having different aspects.

Productive has a rating of 4.6/5. We rate it a 4.4.

Financial Habits You Need To Get Rich (Part 2)

Part 2 of this series will cover four big things to decrease your spending and hopefully make you realise that the things that you do now, you totally take for granted and honestly, don’t need as often as you may think.

Live Below Your Means
Okay, so what does this actually mean?

Living below your means is a typical thing that you may already be doing without realising.
It simply means that even though you have enough money at the time to afford a $35 steak for dinner, you opt for the $23 one instead, because you know you will still enjoy it without the hefty price tag.

It means that you don’t go out and buy a boat, or book a holiday, or shop for a new outfit every weekend. Even though you know you can afford things, doesn’t mean that you should have them.

Think of it this way, if I spent $70 on a new outfit every month, within a month I could have saved that $280 to put towards something much more rewarding, such as an asset (e.g. a trailer to hire out, bitcoin/virtual money, stocks etc.)

Don’t Waste Money On Unnecessary Things
It’s just a fact that the most common unnecessary purchases are clothes, food and drinks.

If you’re out and you have to buy take-away then so be it, but there are the possibilities to eat before you go, take your own, or find a supermarket close by where things are much cheaper.

Certain consumables such as iced coffees, soft drinks and chocolate bars are also a bank-killer, and even though they’re regularly on sale and they provide people with a quick pick-me-up, they’re unnecessary and an apple would do the same job for much cheaper.

Op Shops are also great to save on clothes, there are some people that are willing to give away just about anything, and you can find some real winners in second hand clothes!

Live In A Cheap House
This may seem like a huge no-no to you, but if your rent is $150+ per week, you should be searching for somewhere cheaper.

Even though you don’t want to be living in a run-down shack, we’re sure that a few extra cockroaches won’t harm you, there are plenty of cheap solutions to that.

As long as you’ve got a roof over your head and the facilities to live comfortably, the low price tag should be a blessing in disguise. The amount of money you can save over a few years may even be enough to put down a deposit on your own house.

Don’t Finance A New Car.
This is one of the biggest mistakes that anyone can make. Buying a brand new car from the dealership is a huge waste of money.

Why not?
We don’t want you wasting your money, that’s why! By the time that you drive out of the dealership, your vehicle automatically loses 10% of its value ($50,000 car is now worth $40,000).

Not only this, but after just its first year out of the factory, it has already lost around 20% of its value, and will continue to fall annually.

On top of this value loss, you also have to pay insurance on the vehicle, which is generally about 10%+ of its value, which ends up costing you more than what the vehicle is worth.

Financial Habits You Need To Get Rich (Part 1)

There are so many things that you can do to create yourself a healthy bank account, but have you ever thought about how you can make yourself rich?

It’s not as easy as it seems, there is always hard work to be done, but if you want it, you’ll work for it.

There will be a few (10 to be exact) topics that we’re going to touch on through this series, hopefully it helps!

Create A Budget And Stick To It.
This may seem simple and relatively straight forward, but how many times have you gone to the supermarket and bought way more than what you originally went for, or you saw a cute dress so you told yourself you needed it, without having a solid reason?

This does so much damage to your savings to say the least.

By creating a budget, you’re allowing yourself to indulge in a few luxuries, but when the time is right… and when the time is right, we mean after the bills are paid, and your grocery shopping is done etc.

It’s super important to have a reasoning behind each of your purchases, whether it be as big as a car, or as small as a new pair of undies. You must ask yourself every time ‘why am I buying this?’ and give yourself a logical answer, not just ‘because I deserve it’ or ‘because there’s a sale on’.

Upon giving that answer determines how badly you need the item, which should either increase or reduce the want for the item.

Build an Emergency Fund.
And don’t touch it unless it really is an emergency!

By doing this, you’re preparing yourself for the unknown… some examples are along the lines of having to book an emergency flight or trip home, paying for an accident, or you know, unexpectedly losing your job.

An emergency fund isn’t for the small things like groceries or an outfit for a wedding you’ve known about for 12 months, it’s there for when times get really tough.

The best way to go about this is to set up an account and have a designated amount (maybe $50) automatically transferred into that account every fortnight.
After a while you may find that you forget about the account all together!

Increase your income
How you ask?

Well, it may be as simple as getting another little side job, whether that be bartending or Uber driving after hours, or you could venture out into the cyber world and create some online hustles that may not require as much work.

Things like that include starting a blog or a vlog, writing an eBook and selling it, peer-to-peer learning (writing a course to sell etc.) and the list goes on, there are a whole range of ways to make more money on our site such as the Making More Money Part Series, and the Passive Income Part Series.

Skills You Need To Succeed.

okay, so here’s a real quick one to get you on track to success. We’re going to be focussing on four small, easy skills that you need up work on and master in order to increase your overall success. There are so many things that professional’s say that you need to do, but through our research, we’ve come up with four vital points that we frequently came across.

1. Be Positive.
In your little world, are you prone to being positive or negative? It’s important that you focus on the positives that are around you… let’s put it this way: are you a ‘glass-half-empty’, or ‘glass-half-full’ type of person? You’ve got to begin to see the glass half full and see the positive side of any situation. In saying this, you’re allowed to acknowledge the negatives, but don’t dwell on them, make them work for you, learn from them, grow from them.

Tip: ‘Failure is just success in disguise’ is such a great little quote to stick in the back of your mind, because it reminds you that even though there was a negative outcome, you’re going to grow from it, get up and try again, and next time you’ll do better to succeed, which is the positive attitude that you have to have to be a success.

2. Listen to Others
It’s easy to look someone dead in the eye and not hear a word they say, isn’t it? You’ve got to get out of that habit, start learning from people, listen to podcasts, YouTube videos… ask questions! If you’re just starting out, of you’ve been in your position for a while now, it’s super important to listen to those around you, in the same niche as you, in different niches… You will never stop learning, and the best way to do that is to take notes from your peers – see what’s happening in their world,
what’s working for them and modify those outcomes to set yourself goals to work towards.

3. Practice More Than You Preach
If you’re singing to the choir about getting their 8 glasses of water in a day, as well as eating a healthy diet, exercising and maximising their work-ethic and all you’re doing is sitting behind a computer screen eating some potato chips and drinking Coca-Cola then you’re really not all that inspiring. Same goes for any business/employer/employee in and field… How many times have you
had a colleague try to tell you how to do your job when they’re the worst employee on the staff list? Don’t be that person. But do listen to that colleague, they’re telling you how to do it wrong – therefore you know how to avoid getting the sack.
Be humble in your success – if people ask you about how you came about to do what you do, tell them the bad before the good, tell them that it was a lot of hard work, heartbreak and rebuilding before you got to where you are, but you’re grateful every day for those hardships.

4. Communicate Effectively
No one likes a bad communicator, let’s just put it right out there. If you can’t communicate effectively and efficiently, not only will you struggle to get your point across, and as a result, won’t be as successful. If this is something that you know that you struggle with then you need to focus super hard on it. Bad speller? Bad grammar and punctuation? Teach yourself how to do both of these. It’s simple enough, there are heaps of Apps that can help you, as well as a site called Grammarly – it is
absolutely fantastic for the two above issues – in which it edits your work better than what and Word document can, and gives you the best explanation about why it wants to change your work. Also, don’t forget to be an open communicator – make yourself available to be spoken to; create a good vibe and atmosphere so that people don’t feel intimidated to speak to you

Overall, it’s important to check in on your success and come back to these points to compare notes and modify your behaviour. Keep it up a novice, you’ll be there in no time!!

Should You YouTube?

Now that you’ve got your blog up, running, and attracting all the traffic, you want to start a YouTube channel to compliment it? Cool, give it a go!

However, I’m going to stop you right here, and make sure you’re aware of some of the things you may need to ask yourself before beginning this journey.

Is Your Topic Relevant?
I understand that you’re going to be creating it to compliment your blog, but is the content of it going to be what people are searching for?

Remember that YouTube is now one of the fastest growing search engines in the world, because teaching yourself how to do things with a video is so much easier than reading. Always keep this in mind.

Who is Your Target Audience?
Already having an audience that you want to focus on is what you want to aim for when you’re starting a YouTube channel.

For example, a Make-Up artist has an extensive audience of women, as many of them want to know how to perfect that darn winged eyeliner, or how to contour their face correctly.

Younger women is the target audience for most beauty vloggers, as they seem to be the ones that know how to use YouTube to find what they’re after.

What Equipment Will You Need?
Although it might be okay just to use your webcam for the beginning, just to get your viewed hours up to the required amount, but you have to think for the long run – will you need a specialised camera, a microphone, some extra lighting? Depending on what your focus is, you may even need a little electronic sketch pad.

These types of accessories aren’t cheap, and you need to realise that you won’t be making money from the very beginning to fund these purchases.

These things will increase the quality of your video, which will hopefully, in turn, increase the traffic that you get to your videos because of your

Do You Know Someone?
One of the best ways to get into the YouTube hall of fame is by knowing someone already there.

Having the ability to ask for help, as well as a possible shout-out on a video or two of theirs can always help you out, especially if they’re willing to do it for you.

There is also always the ability for you to communicate with others already in the industry, so that you can create relationships if you don’t have any knowledge of anyone in the industry.