How can you create prosperity, or create personal wealth, in a time of economic recession? Obviously panicking or making drastic financial moves can only hurt your stability. Some people have been overreacting by pulling all of their money out of banks or investing in gold. While it is a time to be concerned, it is not a time to be reckless with the money that you currently have. Remember that the secret to surviving an economic recession is the same as the secret on how to make money in the first place: by forming a strategy and setting realistic goals.
Set goals frequently and make sure that they are reachable, especially in the early stages. You start by taking stock of your total net worth, by counting up all the assets and liabilities that you currently have. This gives you an idea of what you have to work with. After taking stock of how much you have (and stand to lose) you can better plan more practical goals for creating prosperity in the future.
It helps to set short-term personal goals in the beginning. If you want to start saving more money from your weekly paycheck, then set small financial goals to meet every week. Not only do short-term goals help you achieve minor victories; but fulfilling them also gives you the confidence to achieve larger goals. Some short-term goals that could prove helpful may include starting a weekly or monthly budget for your finances, perhaps using financial software or first consulting a finance theory book. Larger goals may be to pay off credit cards or to expand your investment portfolio by branching out into other stocks.
Worried about your career? Start researching other jobs in your field, entry-level jobs in other career fields, or contracting jobs. Extra income is always available as many companies are more comfortable paying by contract or hiring part time workers. Decide on a base weekly or monthly income by which to survive and pay your most important expenses. Reserve some money for emergencies and leisure. Organization is a key to creating prosperity.
After you start to achieve these smaller goals you can work your way up to mid-term and long-term finance goals, which could be as far off into the future as 20 years! Is your long-term goal to be debt-free? To own a house and other real estate property? Only by starting your steps small can you hope to achieve a much larger and more complex goal down the road.
As a means of motivation to get started and to maintain your goal calendar, it may help to set up a rewards system for when you achieve smaller goals. For example, after saving so much money in a month you can treat yourself to a night out or to a theme park. As you achieve long-term goals then you can set bigger rewards such as a two-week vacation. This is an important part of the attractor factor philosophy. Creating wealth involves a system of punishment and reward, just as the law of attraction teachers explain.
The economic crisis doesn't mean the end of civilization. It simply means that more people have to start spending, investing and collecting money with care. There is a great deal of professional advice that can help you get started, and Prosperous Mind offers help in this regard. Here you can consult tips online, read secrets of the millionaire mind books, listen to law of attraction seminars or teleseminars and find out innovative ways to create prosperity. Remember that the best years of your life are yet to come!
Terry Dickman, the owner of Prosperous Mind make available a great selection of self development products to help you to learn how to make more money, keep more money, save more money. Discover how you can create prosperity and generate wealth with products from prosperousmind.com.