Category Archives: Money

How to Stay Focused on Your Goals

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goalMany are the times we have set goals and abandoned them. In the beginning, we are overly motivated, but with time, this motivation wanes away. We get caught up, frustrated, stuck, overworked, overloaded and eventually distracted. It can be hard to stay focus especially when we have so much going on in our mind. I know these facts because it was always the case for a friend at https://abingdontowtruck.com/  as he had a lot of tasks and launches to handle within a short span. When obligations stretch us, we are pulled in all directions.

There are a couple of powerful methods you can apply to help you keep on the track to attaining your focus and dreams. Here are practical ways to stay focused on your goals.

Write your goals

If you have not written down your goals, then you are missing on the most important part of the whole process. Failing to write your goals means they are staying in the abstract. You have to write your goals down and get very specific about them. A smart goal setting approach starts by writing your goals down. If you are serious about your goals, you must set them out as well as detailing them. Create all the required details about your goals and start working towards meeting them.

 

Create a mission statement

missionIf you are serious about the goals you have written, create a mission statement. Companies generate mission statements all the time, and you are not different. The mission statement helps you in directing your time and energy towards all things that matter. The mission statement explains your values, your beliefs and all the things you have set forth to do differently from others. A mission statement helps you to avoid getting distracted.

 

Manage your time

To achieve your goals, you must become an active manager of your time. It is practically impossible to stay focused on your goals if you can’t manage your time. When you become an effective manager of time, you will see yourself making progress instead of falling behind. You can pick a time manager system that works for you. Try out the quadrant time management system as it has proven to be one of the best out there.

Develop goals milestones

You need to develop milestones towards your goals. Sometimes, it can be hard to remain focused on your goals because they seem far off. It can be difficult for you to stay motivated all the time for a goal you are looking to achieve in the next five years. You need to create a set of milestones that help you move towards your goals all without losing focus. To create a milestone, you can break your goals into equal parts and see how each part is achieved.

Analyze Progress

Analyze your progress on a daily basis. How else would you know that you are on track to achieving your goals if you don’t focus? Every goal should be quantifiable and tracked, then analyzed on a frequent basis. If you are saving money, you should track your progress depending with the frequency you have set for saving. You can use spreadsheets or other apps that track progress.

How to Become a Milalionaire through Real Estate Investing

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millionnaireFrom the word go, real estate investing sounds like a very expensive and complex endeavor costing hundreds or thousands of pounds in initial investment. Well, in the past, it used to – now, the dynamics have changed. Today, you don’t need to have a six-figure balance in the bank to be a real estate investor – it only starts with a solid financial plan, and making the right baby steps.

Many people who have reached the stage of financial independence did so by investing in real estate – and through the process, ended up becoming millionaires. Though it might sound impossible to make it in real estate from the word go, the key to success lies in making simple steps and making continued forward progress. It’s just a matter of time before you are called a real estate mogul.

 

Let us look at ways of getting started in real estate millionaire path, without breaking a bank.

 

Getting Started

The single biggest reasons you should take real estate investing high in your investments list is due to the higher returns [potential when compared to other investment asset classes, such as investing in money markets and stock. Real estate investing has a leverage over assets, a full control over assets and a substantially high profit.

 

Make the First Purchase

The first real estate purchase will without a doubt be the most difficult. Getting the first piece of real estate can be very tricky. To get started, look for a  single family modestly-priced home and make it your home while paying down the mortgage aggressively. Once you take ownership of the home, work round the clock to pay it and make it yours. The goal is to pay at least 70 percent of the mortgage value, to enter the next stage of qualifying to cash out and refinance.

 

Second and Third Purchase

Once you have refinanced the first home, you can put it up for purchase by another buyer, who will end up paying more than the initial price you acquired it at. You will mostly make some profit, say $20,000. You can replicate step 1, move to another house, pay the mortgage and eventually own it. Else, you can continue to live in the existing home and purchase another house and set it up for rental. These two houses will be an investment for you. The beauty of following this specific model is that you can rent the two homes and get a modest monthly income. You will want to pay any existing mortgage and save the balance to continue with your real estate investing path.

The Mogul Path

You can see and reflect on the steps you will have made up to this level. Now that you have two houses producing a positive cash flow, you only need to wait to build a positive cash flow before moving to your next down payment of another home. With an additional house under your name, you will save up the down payment required for your fifth home. If you manage to have ten rental homes each bringing at least $1000 per month cash flow, you can save up to $20,000 for a down payment every two months. This allows you to have a reasonable purchase of at least five homes every year. If you get to this point, the sky is without a doubt, the limit. You need to start building a team to help you grow your empire.