6 Basic Principles to Attract Financial Abundance

We heard so much of the “Secret” and the Law of Attraction. For me, I have been learning and applying and deliberately creating my success and abundance using the universal laws — specifically Law of Attraction — attracting abundance and prosperity in all aspects of my life because whatever I focus on expands.

An important area of our life which all of us tend to focus is on the subject of money. How to have financial abundance and wealth creation strategies.

There is a simple formula that  can be applied which serves almost as a blueprint for a wealth building strategy. I would like to share these 6 principles and if you follow them diligently, you can also attain the wealth and success that you are looking for.

The 6  key components of such a blue print include the following:

1.    Your belief system and your relationship with money
2.    Your wealth building habits
3.    Learning to become your own expert
4.    Becoming an active wealth builder
5.    Creating multiple sources of income
6.    Looking outside the box for opportunities

It all starts with your own beliefs

What are your beliefs about yourself and money? Your belief system and relationship with money are the first building block.  Creating wealth is 90% mindset, so utilizing tools and adopting a set of daily practices focused on cultivating a prosperity mindset and wealth consciousness are vital.

What is money? Money is just legal tender, a form of exchange. It represents value and its liquid energy. It is the external physical expression of our own internal value. To have more money, we must always provide more value.

Wallace Wattles in The Science of Getting Rich, states that we must always give more used value than the cash value that we received. What a profound statement. Wealth and money, is not what you go after, it is something you attract. Success is not what you pursue, it is something you become.

To experience wealth, is to being wealthy. Being wealthy is an internal state, nothing to do with the outer world. Your internal state of wealth is something you decide to be right now and you become it. Once you make the decision to be wealthy, you become wealthy because your inner world creates your outer world.

Build good wealth habits

Your wealth building habits are the steps you build into your regular routine focused on creating wealth.  A simple example is to establish to habit of always setting aside a specific percentage of all income for wealth building.

One important habit is to Pay Yourself  First. This is the most important habit that one should cultivate from young, from your very first income that you earn for yourself. This is based on the concept that you are more important  than anyone else, so whatever you earn, you must pay yourself first. “A part of all I earn is mine to keep”, a phrase from The Richest Man in Babylon, a book I strongly encourage everyone to read. How much do you pay yourself. At least 10% of your income earned and slowly increase to higher quantum that you can comfortably accommodate.

Educate , grow and think for yourself

One of the most important lesson learned from the late Jim Rohn, is that we must continually educate and grow ourselves. It is more important  to work harder on yourself  than it is on your job. When you work hard on your job, in essence, you are working hard for others and creating their fortune whilst you earn a good living. However, when you work harder on yourself, you create your own fortune because you will be paid for your value and not for your time, in the case when you work hard on your job.

Also, when  we talk about educating and learning to become your own expert, what we mean is that fundamentally, no one will ever understand your personal situation as well as you do.  So while advice is a good thing, it’s up to you to learn about  different vehicles and avenues so that you can have a meaningful conversation about them, direct your advisors, and make your own decisions. Your own success all depends on yourself and nobody else.

Do something – Take Action !

Become an active wealth builder by actually doing something.  If you were a wealthy millionaire, what active wealth building might you be doing?  How do you intend to become that millionaire or multi-millionaire if you are not undertaking  those things? What are the action steps or daily activity plans you need to do in order to achieve the success you desire. You need to take Massive Action towards your goals.

Having Multiple Source of Income ( MSI )

Prosperity is available to anyone who chooses it. Most people only have one primary source of income and that’s the income or salary from their job. Wealthy people all have multiple sources of income. They first work hard for their money and then they make their money work hard for them. They build assets to create cash flows for themselves. They build or create multiple sources of income, through investment income from dividends, rental income from properties, residual income from membership sites or internet marketing, and many others.

Establish your own MSI or some form of home business like network marketing, internet marketing, or royalties from books.  With a business you have the opportunity to leverage people, time and money.  A home based business offers many tax breaks and over time can grow to more than replace your full time income.  It is much more difficult to create substantial wealth when you are trading your own time for money in a conventional job.  The more income streams you can create for yourself the better.  Bob Proctor and Robert Allen, author of Multiple Streams of Income teaches the importance of the “MSI” — multiples sources of income.

Look outside the box ( Get out of your comfort  zone)

Finally, be willing to look outside the box and get out of your comfort zone.   Often the most lucrative wealth building techniques are those that are not generally known or understood by the masses.  So pay attention to opportunities that come along and don’t be dismissive just because you haven’t seen them or heard about them.

Instead, try to learn more by attending seminars and learning from people who have been successful in those areas. By attending such seminars you shorten your learning curve and avoid costly mistakes.

Remember, one of the fundamentals of deliberately applying Universal law, including law of attraction, is “be, do, have”.

Be the master wealth builder first by adopting the mindset of wealth consciousness.  You become what you think about.  This raises your vibration and frequencies to be in alignment with the universe and will guide you to inspired doing.  And through the repetition of being who you want to be and consistently doing what you’re inspired to do, you will come to have created  the wealth you desire. You will be, do and have the happiness, health and material wealth that you truly deserved.

I hope you enjoy the sharing

By Michael Tay   www.michaeltay.com

Feel free to reprint this article in its entirety in your ezine or newsletter, or on your blog or website, as long as you leave all links in place, do not modify the content and include our resource box as listed above.

Be Sociable, Share!

• 
•