Archives for October 2013

Tip o’ the Morning to Ya – Poverty Emotions

October 31, 2013 by Leave a Comment

tip-o-the-morning

Rich Habits Word of the Day

Affectivity – Emotions. Drained by their affectivity from the wedding, the bride and groom slept for 14 hours.

Rich Habits Fact of the Day

There are 48 known human emotions.

Rich Habits Lesson of the Day

Poverty emotions hold you back in life financially. They are often related to certain limiting beliefs such as “I am not smart enough to be rich.” All Poverty Emotions are negative emotions. Emotions reside in the subconscious. When combined with continuous thoughts or beliefs, emotions act like giant magnets attracting things into your life that are related to the emotions you continuously allow yourself to feel. Your subconscious does not know any better. It thinks the emotions are something you want to have. It’s job is to give you more of what it thinks you want. For example, if you feel grief, your subconscious will attract more things into your life which will make you grieve.

If you want to become wealthy in life you need to eliminate Poverty Emotions. What are they? Hate, Anger, Doubt, Sadness, Worry, Anxiety, Grief, Fear, Disgust, Stress, Envy, Suspicion, Panic, Disappointment, Greed, Guilt, Revenge, Shame, Embarrassment, Humiliation, Insecurity, Hesitancy, Rude, Obnoxious, Nervousness, Exasperation, Intimidation, Wary, Upset.

Filed Under: Daily Success Tips

Tip o’ the Morning to Ya – Importance of Mentors

October 30, 2013 by Leave a Comment

tip-o-the-morning

Rich Habits Word of the Day

Lodestar – Guide, guidepost. Their father acted as a lodestar, guiding them, teaching them the secrets of the Rich Habits.

Rich Habits Fact of the Day

Big Brothers and Big Sisters are two non-profit organizations dedicated to mentoring the youth.

Rich Habits Lesson of the Day

For most of us the only chance we have at having a mentor in life is our parents. When you are lucky enough to find a mentor who is successful in life, it is like striking gold. The value of finding such a mentor is $4 million. That is how much wealth the average wealthy individual attributed to gaining due to their mentors.

Filed Under: Daily Success Tips

35 Things the Rich Know About Every Relationship

October 29, 2013 by Leave a Comment

80% of the wealthy call their contacts religiously at least once every other month just to say hello. There are two purposes to this call. The first is to keep the relationship alive through constant contact. The second purpose is about gathering certain information. In other words, it’s a reconnaissance mission.  They are calling to gain intelligence on their contact. The more information they can obtain about their contact’s family, friends and life, the more valuable that relationship becomes to them. Rich people have been doing this for years. They understand that one day this information will pay dividends. Oftentimes, these dividends represent some monetary or financial gain or help open some door for themselves or a family member.

35 Things the Wealthy Gather on Their Contacts:

  1. Basic contact information: name, address, phone, email, Twitter, Facebook etc.
  2. Are you married?
  3. If yes, what is their spouse’s name?
  4. Do you have any children?
  5. If so what are their names?
  6. Birthdays of contact, spouse and children
  7. Interests/Hobbies of contact, spouse and children?
  8. Schools contact, spouse and children attend/attended?
  9. What are they most proud of?
  10. Do they know any celebrities or important people? Who?
  11. What do they do for a living?
  12. What does their spouse do for a living?
  13. What do they like reading?
  14. Do they read blogs? If so, what blogs?
  15. Previous employment of contact and spouse?
  16. If their children work, what do they do, where do they work?
  17. Political affiliation?
  18. Religious affiliation?
  19. Where did they live before their current home?
  20. Do/did they or any member of their family play sports? If so, what and when and do they still play?
  21. Do they like sports?
  22. Do they drink alcohol? If so, what do they drink?
  23. What’s their favorite foods?
  24. What type of car do they drive?
  25. What are their goals?
  26. What groups, non-profits or community organizations are they affiliated with?
  27. Where do they like to vacation?
  28. What did their parents do for a living?
  29. Where did they grow up?
  30. Significant achievements/accomplishments?
  31. Favorite celebrities?
  32. Licenses, designations they may have?
  33. Strengths and weaknesses?
  34. Do they exercise? If so, what do they do?
  35. Who are their important relationships: attorneys, CPAs, financial advisors, religious etc.
Filed Under: Featured Articles, Professional Development, Relationship Building, Wealth Creation

America’s Poor – Who Are They, Why Are They Poor and What Can We Do?

October 29, 2013 by Leave a Comment

Here are some important facts about poverty and wealth in America:

  •  43.6 million Americans live below the poverty line
  • 50% of American Households make less than $33,048 a year
  • Average student loan debt now exceeds $27,000
  • Over 9% of college graduates default on their student loans within two years of graduation
  • 314 million people currently reside in America
  • 138 million make enough money to warrant filing an income tax return
  • 6.9 million, or 5%, make $155,000 or more a year

This 5% puts money away for retirement, education for their children, savings, go on nice vacations, live in nice homes and retire without any financial worries. What is this 5% doing right? What is it that financially successful individuals do that sets them apart from everyone else?

In my five-year research study on the daily habits of wealthy and poor individuals I found the answer to this question. I found the financial equivalent of the Holy Grail: Your daily habits dictate whether you will be rich, poor or middle-class.

40% of all of our daily activities are daily habits. This means 40% of the time we are all on auto pilot. If we have Rich Habits, life is good. If we have Poverty Habits, life is bad. Think of a seesaw. On one side of your seesaw are your Rich Habits and on the other side are your Poverty Habits. If you have more Rich Habits than Poverty Habits you will be rich. If you have more Poverty Habits than Rich Habits you will be poor.

In wealthy households parents go to great lengths to teach their children these Rich Habits. This is why the rich get richer. I refer to this as, “the generational cycle of wealth”. In wealthy households, the rich get richer and this pattern repeats itself from one generation to the next.

In poor households children learn Poverty Habits from their parents. It’s not intentional. Poor parents never learned the Rich Habits from their parents. This is why the poor get poorer. I refer to this as, “the generational cycle of poverty”. In poor households the poor get poorer and this pattern repeats itself from one generation to the next.

In reality, parents are responsible for the wealth gap and income inequality in our country.

So how do you break the generational cycle of poverty?  Believe it or not it’s easy to do. Each one of the Rich Habits was designed to be a Keystone Habit. Keystone Habits are unique habits. They are unique because they affect other habits. One good Keystone Habit, for example, could act to eliminate 2 or more ordinary bad habits. 


Bad Habits That Are Keeping You Poor

  • You watch more than one hour of T.V. a day.
  • You spend more than an hour a day on recreational Internet use (Facebook, Twitter etc.)
  • You eat more than 300 junk food calories a day. 
  • You drink more than two glasses of beer, wine or hard alcohol a night.
  • You drink more than 12 ounces of non-diet soda a day. 
  • You don’t exercise aerobically a minimum of 30 minutes a day, four days a week.
  • Your relationships are on an “as needed” basis. You only reach out to your friends to socialize or when you have problems and need their help. You don’t call them just to say hello, happy birthday or to congratulate them or console them when something happens in their lives. In other words, you ignore them unless you need them for something.
  • Procrastination is the rule rather than the exception. You don’t maintain a daily “to do” list, or if you do, you don’t accomplish 70% or more of your daily “to do” list each.
  • You devote very little time to your career beyond working. You do not read a minimum of 30 minutes a day of career-related reading material.
  • You do not network or volunteer a minimum of 5 hours a month.
  • You do the bare minimum at work. You have “it’s not in my job description” syndrome.
  • You talk too much and don’t listen enough. You violate the “5 to 1 Rule” (Listening for 5 minutes for every 1 minute of talking). 
  • Oftentimes, you are putting your foot in your mouth and saying inappropriate things.
  • You are not generous with your time or money with respect to your relationships.
  • You are a spender and not a saver. You don’t save 10% of your net income every month. You violate the “90 % Rule” (Pay yourself first 10% of your net pay and live off of the remaining 90% of your net pay).
  • You spend more than you earn and your debt is overwhelming you.
  • You don’t control your thoughts and emotions on a daily basis. You lose your temper too often and belittle others too much.
  • You think a wish is a goal. Goals require a specific physical activity, otherwise they are just wishes and wishes don’t come true. 

Ten Keystone Habits That Will Make Your Rich:

  1.  Wealthy individuals have eliminated most of their bad daily failure habits and replaced them with good daily success habits
  2. Wealthy individuals set daily, monthly, annual and long-term goals. They understand the difference between a wish and a goal. See my Free Goals Report: https://richhabits.net/wp-content/uploads/Tom-Corley-Rich-Habits-REPORT-Goal-Setting.pdf
  3. Wealthy individuals engage in 30 minutes a day of daily career-related reading. 
  4. Wealthy people are healthy people. They exercise aerobically 30 minutes a day, four days a week and stay below their “caloric threshold” (This is the number of calories consumed each day that will neither make you gain weight nor lose weight). For men this ranges from 2,000 calories a day to 2,600 calories a day. For women this ranges from 1,500 calories a day to 2,100 calories a day. 
  5. Wealthy individuals manage their relationships every day. Strong relationships are the currency of the wealthy. They employ certain strategies to grow their relationships such as: “The Hello Call”, “The Happy Birthday Call” and “The Life Event Call”. They use a specific strategy to help them increase their Rich Relationships and eliminate their Poverty Relationships.
  6. Wealthy individuals live each day in moderation.They eat in moderation, spend in moderation, work in moderation and play in moderation.
  7. Wealthy individuals complete at least 70% of the tasks on their daily “to do” list.
  8. Wealthy individuals engage in “Rich Thinking”. They are upbeat, positive and focused on achievement.
  9. Wealthy individuals save a minimum of 10-20% of their income and live off of the remaining 80-90%.
  10. Wealthy individuals control their thoughts and emotions, every day.

How to Re-Invent Yourself in 30 Days:

Take out a piece of paper and form two columns. In the first column list every one of your bad daily habits. Call this column your “Bad Habits” column. After listing all of your bad daily habits invert them and include them under column two, your “Good Habits” column. For example: “I watch too much TV” becomes “I watch 1 hour of TV per day”. “I eat too much” becomes “I eat 2,000 calories per day”. Fill your Good Habits column with these inverted Bad Habits. Keep you new Good Habits list with you and refer to it every day.  I call this the Rich Habits Checklist. Live your Rich Habits for 30 days. Strive to follow 30- 40% of your  Rich Habits each day. By the end of this 30 day period you will be unshackled from many of your bad daily habits. Following your Rich Habits does two things: First, it eliminate what I call Detrimental Luck. This is the bad luck that poor people attract into their lives by living with bad daily habits. Second, it manifests Opportunity Luck into your life. This is the good luck wealthy people attract into their lives by living the Rich Habits.

Failure, like success, is just a process. Our daily habits reveal which process we are following in life. Changing the process from failure to success requires that we change our daily habits from bad ones to good ones. By adopting the Rich Habits we are literally walking in the footsteps of the wealthy …. every day.

Filed Under: Featured Articles, Parenting For Success, Wealth Creation

Tip o’ the Morning to Ya – Everything in Moderation

October 29, 2013 by Leave a Comment

tip-o-the-morning

Rich Habits Word of the Day

Moderation – Balanced, restrained.

Rich Habits Fact of the Day

The average male should not consume more than 2,500 calories per day. The average female, 2,000.

Rich Habits Lesson of the Day

One of the keys to success in life is moderation. The wealthy moderate their consumption of food, their emotions, their spending and their recreational time. Everything they do, they do in moderation.

Filed Under: Daily Success Tips

Money Savings Strategies for this Holiday Season

October 29, 2013 by Leave a Comment

Tom Corley here, author of the Bestselling book Rich Habits (www.richhabits.net). The holidays are right around the corner. To most of us holiday come at a cost. We spend more money on things like gifts, dining, electricity etc. Successful, wealthy individuals are very careful with their spending during the holidays. They have certain Rich Habits that they follow to make sure they are not reckless with their spending during the holidays. If you would like a stress-free holiday this year take advantage of some of the following Rich Habits Money Savings Strategies:

Stick to a Budget

Set a maximum amount you will spend on gifts this holiday season. Even better, make a list of everyone who will be getting a gift and then budget how much you will spend for each person. This ensures you do not go over your budget. As a rule of thumb you should limit your holiday gift spending to 1.5% of your income. To find unique gift ideas within your budget visit sites like Gifts.com and select “Finder”. These sites give you great gift ideas that are within your budget.

Use Credit Card Reward Dollars

Many credit cards have attached to them Rewards Programs. Typically, these Rewards Programs generate Reward Dollars that you can use at participating vendors. For example, the American Express Reward Program gives you about .88% back on every dollar you spend using an American Express credit card. One of the participating vendors with American Express is Barnes and Nobles. 50,000 American Express Rewards Dollars translates into $500 in Barnes and Noble gift cards. You can buy 25 $25 Barnes and Noble gift cards and give them out as gifts during the holiday season and it will cost you nothing.

Send e-Cards

Want to save on the cost of buying holiday cards and postage? Then send out a holiday e-Card this year. There are numerous websites that offer free cards such as EGreetings.com

Unplug Holiday Lights After 10pm

Most everyone is asleep or in bed by 10pm so it makes no sense to keep your holiday lights on after this hour. This cuts down on the electricity costs for the holidays.

Interest-Free Financing

Sears, Home Depot, Lowes and many other retailers offer up to 24 months of interest free financing if you become a credit card customer. You must ensure that you pay off the interest free purchase within the free interest period and you must make your monthly payments on time. If you don’t you risk being back charged for ALL the interest you were saving on the purchase.

Dine at BYOB Restaurants

BYOB is an acronym for “Bring Your Own Booze”. Having your holiday meals at BYOB restaurants can save you and your family hundreds of dollars in liquor dining costs during this holiday season. You not only save up to 50% on the lower cost of the liquor but you also save on sales taxes and the gratuity. It’s a triple savings.

Holiday Parties

Transform this year’s holiday party into a culinary surprise holiday party. Ask each one of your guests to bring a special dish for the evening. You can even give out Awards such as a $25 Barnes and Noble gift card for the best dish. This will save you money on your party and add an element of fun and excitement.

Online Comparison Shopping

Thanks to the Internet you now have the ability to comparison shop without ever having to leave your home or office computer. Sites like PricegGrabber.com pr PriceBlink.com will scour the Internet online retail sites for the lowest price for your gift.

Re-Gift

I know it sounds tacky but just because you didn’t use or value a gift you received last year doesn’t mean someone else will too. After all it’s the thought that counts. Re-gifting is an obvious money savings strategy. If you feel embarrassed about re-gifting don’t. According to MSNmoney.com 68% engage in re-gifting. You’re not alone. For all you know the gift you are re-gifting may have been a re-gift of its own!

Filed Under: Featured Articles

Rich and Poor Share Very Different Beliefs According to New Study

October 26, 2013 by Leave a Comment

Understanding the Importance of Beliefs

Our subconscious makes up 5/6ths of our brain. The subconscious controls our breathing, heart, blood flow, metabolism and every bodily function without any conscious direction on our part. It is the seat of our emotions and memory. The subconscious never sleeps. It is an awesome machine, working tirelessly day in and day out. Our subconscious is incredibly sophisticated. Yet there is so much we don’t know about its capabilities. The few who are able to utilize more of their subconscious than the rest of us go on to achieve greatness, amass incredible wealth and change their lives and our lives forever. Think Einstein, Steve Jobs, Leonardo da Vinci, J.K. Rowling, Mozart and DNA double helix discoverer James Watson, to name but a few. Each asserted that many of their ideas came from dreams, intuition or from unknown places. The subconscious speaks to us in dreams, intuition or flashes of insight that seemingly come out of the thin air. For those who are able to tap into the subconscious mind, success is virtually guaranteed.

Our subconscious responds to our beliefs. Like software code, our beliefs direct our subconscious to manifest that which we think about and believe in. If we believe, without any doubts, that we are going to become wealthy and successful in life, our subconscious makes it happen.

How? There is something in our brain called the Reticular Activating System. This RAS resides in our subconscious. It acts as a a data filter. Our brain is constantly bombarded with millions of bits of information coming in from our senses. The RAS filters this data, eliminating most of it, and allowing in only that data the subconscious has been programmed to allow in. Some of this programming is old programming, hardwired into our brains through millions of years of evolution, and some of it is new programming, hardwired into our brains by our parents, environment and our self-talk.

What the Wealthy and Poor Believe
From the research data I accumulated over the past 9 years, it is clear that the wealthy and the poor have very different beliefs and that these beliefs are a major contributing factor in their wealth or poverty. Let’s look at the data:

What the poor believe:

  • 87% of poor people believe you must be intellectually gifted in order to become wealthy
  • 90% of poor people believe fate determines your wealth or poverty in life
  • Only 13% of poor people believed they would be successful in life
  • Only 11% of the poor believe creativity is critical to financial success
  • 80% of the poor believe genes are critical to success
  • 82% of the poor believe they are not responsible for their poverty
  • 77% of the poor believe  lying is a prerequisite for accumulating wealth
  • 90% of the poor believe rich people are rich because their parents were rich and they inherited money
  • Only 22% of poor people believe optimism is important to success
  • Only 5% of poor people believe rich people are good, hardworking and honest
  • 52% of poor people believe wealth is accidental; a function of random luck

Now let’s look at what the rich believe:

  • Only 10% of rich people believe you must be intellectually gifted in order to become wealthy
  • Only 10% of rich people believe fate determines your wealth or poverty in life
  • 43% of rich people believed they would be successful in life
  • 75% of the rich believe creativity is critical to financial success
  • Only 6% of the rich believe genes are critical to success
  • 79% of the rich believe they are the cause of their financial condition
  • Only 15% of the rich believe lying is a prerequisite for accumulating wealth
  • Only 5% of the rich believe people are rich because their parents were rich and they inherited money
  • 54% of rich people believe optimism is important to success
  • 78% of rich people believe that rich people are good, hardworking and honest
  • Only 4% of rich people believe wealth is accidental; a function of random luck

If you want to become wealthy you need to change your beliefs. Most of these beliefs were handed down to you by your parents, your environment or through your own doing. If you want to change your beliefs you need to reprogram you subconscious. There are two ways to reprogram your subconscious:

  1. Daily Affirmations – Repeating certain daily affirmations three times a day will begin to reprogram your subconscious in as little as 30 days. The affirmations need to be in the present tense, such as “I am” and represent the future you or future state, such as “a smart person”. Adding emotional words to the affirmations is also important. Example: “I am so happy to be a smart person”.
  2. Visualizations – Our subconscious thinks in pictures. It converts all data into pictures. Words, sounds, smells, life experiences are all reduced to pictures and stored in to memory by the subconscious. If you want to reprogram the subconscious quickly you need to speak it’s language. Create visuals around your new daily affirmations and review these pictures three times a day.

 

Filed Under: Featured Articles

Tip o’ the Morning to Ya – Power of Persistence

October 23, 2013 by Leave a Comment

tip-o-the-morning

Rich Habits Word of the Day

Tenacious – Persistence, never give up. Tom was tenacious in his desire to go to graduate school and eventually realized his goal.

Rich Habits Fact of the Day

Battle of Britain – The longest aerial campaign ever. The Royal Air Force relentlessly defended Britain against the German Luftwaffe. After 4 months of this relenting defense the Germans decided not to invade Britain and shifted their sights to Russia, thus ending the Battle of Britain and changing the outcome of the war.

Rich Habits Lesson of the Day

62% of the wealthy are focused on their goals every day. 80% are focused on achieving at least one goal. 55% of the wealthy in my study spent a year or more working toward some goal. Persistence is sustained effort toward a goal or your Chief Aim in life. Most people lack persistence and it is the reason most are not wealthy. A lack of persistence is the main cause of failure in life. Wealthy people have this Rich Habit of Persistence. They simply never give up. They are obsessed with their goal or Chief Aim in life and will not stop until they achieve their goal or realize their Chief Aim in life.

Filed Under: Daily Success Tips, Focus & Motivation, Goal Setting

Tip o’ the Morning to Ya – Self-Talk for Success

October 21, 2013 by Leave a Comment

tip-o-the-morning

Rich Habits Word of the Day

Articulate – Talking, speaking. Tom made an effort to articulate his thoughts clearly.

Rich Habits Fact of the Day

80% of all self- talk is negative.

Rich Habits Lesson of the Day

79% of the wealth believe they are individually responsible for their financial condition in life. 82% of the poor believe their financial situation was outside their control. The poor believe things such as luck and fate are responsible for their poverty.

Filed Under: Daily Success Tips

This One Keystone Habit Will End Your Poverty

October 19, 2013 by Leave a Comment

40% of all of our daily activities are habits. That means that 40% of the time we are all on auto pilot. Now this is good thing if we have good daily habits but this is a bad thing if we have bad daily habits. Think of your life as a seesaw. On one side of the seesaw you have Poverty Habits and on the other side, Rich Habits. If you have more Poverty Habits than Rich Habits on your seesaw you will be poor and you will be unhappy with your life. If you have more Rich Habits than Poverty Habits your will be rich and you will be happy with your life.

Keystone Habits are habits that affect other habits. They are like little pac men. Keystone Habits move around looking for opposite habits to eat up, or to get rid of.  When you add a good Keystone Habit it gets rid of one or more bad habits you may have. One such Keystone Habit is Rich Thinking. Rich Thinking is the habit of thinking positively. You must make it a habit of thinking positive, uplifting thoughts every day. This is a very important Rich Habit because our thoughts direct our behavior. If we habitually think negative thoughts we will attract negative things into our life. If you are poor I guarantee that you have the Poverty Habit of negative thinking.

If you adopt the Rich Thinking Rich Habit for 30 days, it will begin to gobble up your negative thinking Poverty Habit. Because it is a Keystone Habit it will not stop with that one Poverty Habit. It will begin to eliminate others that have been linked to your negative thinking. You may eat too much, or drink too much or gamble too much just because of this one negative thinking Poverty Habit.

The Rich Habits are Keystone Habits. They were created to help you get rid of the Poverty Habits that are holding you back in life. Adding just one Rich Habit, like Rich Thinking, will eliminate numerous Poverty Habits. That is the secret to the success of the Rich Habits. One Rich Habit can get rid of numerous Poverty Habits and change you life forever.

The best and quickest method to change habitual negative thinking into habitual positive thinking is to give thanks every day for something. Make a habit of giving thanks every time something good happens or when something bad is avoided. Giving thanks creates an attitude of gratitude. Gratitude fosters positive thinking. Giving thanks is like screaming to the universe, “Give Me More!” When you give thanks every day for some specific thing, you are asking the universe to give you more of that same specific thing.

The key for gratitude to begin to attract positive things into your life is emotion. Emotion makes it all happen. You need to create the emotion and then give thanks. Here’s how: Think about a time in your life when something amazing happened or when you were incredibly happy. Hold on to that thought for a few seconds. Remember everything about that happy time. Then give thanks for something good that you have or that happened to you. Your subconscious will now begin working behind the scene with the universe to try and find more of the stuff you are grateful for and bring it into your life. In time your life will change. You will begin to attract good things. The more good things you attract and give thanks for, the more your subconscious and the universe will bring into your life. This one Keystone Rich Habit has a domino affect that changes your life forever.

 

Filed Under: Featured Articles, Positive Mindset & Attitude
Next Page »