Monday, 11 April 2016
The Offensive And Defensive Strategies For Financial Health
Chris Brady and Orrin Woodward compare Finance Football.
No team can win solely on the offense or defense, but many proclaim the defense is the key to success games. That's because you too might be able to score, but if you do not stop your opponent from scoring, your offense is you will not be much good.
Your defensive game is, how to maintain your money and your offense is, as you acquire more wealth
Your finances are like sports; They have an offensive side and defensive game, how to deal with money. Your financial defensive game is how good you are to keep what you make. For example, save 10% of each paycheck, is the core of financial defense. In addition, your offensive game is in You Inc. about investing
You are your biggest investments; bring reason to increase your learning high dividends and earning potential.
Financial defense is about 60% of the game strategy. Make a lot of money could be relatively easy for you, but what happens when you most that it can not keep? Celebrities are especially good at making millions and then everything blows on extravagant purchases. They are no better off than someone with much less stuff, but a lot more money.
These celebrities had a terrible defensive game, although they have an impressive offensive play.
What are some good defensive strategies?
Follow the 24-hour rule and Gratification Delayed for a strong defensive game
Experience the 24-hour rule: wait 24 hours before doing anything over a predetermined dollar figure purchase and continue to do so if you can afford it. This financial practice you are less impulsive to help with your money. Also, do not fall for the sales event, where you buy something because it does not need to sell because you want it, but. For example: If you're shopping and find something around the $ 25 that you want, but did not have to purchase, you must wait 24 hours to buy it. You could have the money for it, but wait definitely until you time to think.
Practice delayed gratification: Chris Brady and Orrin Woodward have a unique way about delayed gratification of thinking that you would normally see anywhere. They teach delayed gratification is ready to buy something, even if you can afford it. Most people will tell you to save until you can afford it, and then buy, but suggest Chris and Orrin, that you can keep for a while on the waiting list, even if you have the money to buy it now ,
Ultimately financial success is determined by how much money you keep, not what you do.
Your biggest offensive strategy is to invest in yourself through education. Knowledge is your greatest asset. Knowledge is something that you can take anywhere, even if you lose everything. Therefore, buy all the books and information products that you can.
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