Step #7: Execute and Follow-Through

We’ve gone through 6 different lessons together; we have helped you save money on your auto/home insurance, talked about the importance of understanding your monthly cash flow (getting on a budget), and we expressed the importance that income serves when building wealth (while giving you tangible ways to increase how much you make).

how to become rich image 1

We then talked about developing a road-map on how you should build wealth and reviewed the SIMPLE (see “smart”) options available to invest money. I then asked you to take a step back, think about your family, and shop for life insurance rates, and finally, I shared with you all of the tools that I’ve used over the last 6 years to guide me on my path to financial freedom.

All that you have left to do is implement, execute and follow-through on what you’ve learned.

3 years ago, when I first started coaching individuals and families, there was one thing that I made very clear to all of them, and something I’d like to make clear to you as well:

Nobody wants to struggle with money…in-fact, most people
would like to become rich one day. The only thing that’s
standing in the way of that becoming a reality is YOU!

It may be your mindset and the fact you feel that you’re unable — for whatever reason/excuse you have — to increase your income, reduce your expenses, and therefore become rich. It could be that you have a lack of discipline and are unable to control yourself (and your spending). It might be because you lack the drive to do what’s necessary to win with money.

Whatever it is, you have the choice as to whether or not you eventually become rich.

Build Wealth & Prosper!

The path to becoming rich is very simple (as I’ve said multiple times) and comes down to a very easy equation:

Money Coming In – Money Going Out = Disposable Income available to invest each month.

The more money you have to invest every month in real estate, 401(k)s/Roth IRAs, peer-to-peer lending, or building a business, then the more quickly you’ll become rich.

As you move forward in your journey, I wish you all the best! Continue to stay up-to-date with all of the education and tips we have going on at WorkSaveLive.com.

Last but not least, I’d like to encourage you to tell your friends and family about this e-course.

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About the Author

By , on Apr 4, 2013
Andy Tenton
Andy is a 30-something New Yorker who turned his financial life around. He took charge of his finances, got out of debt, and is now working his way toward financial success. He is the publisher of WorkSaveLive.com.

How to Become Rich e-Course

Budgeting 101

{8 Comments}

  1. Kelly says:

    Its one thing to learn about what you need to do to get somewhere, and its a completely different thing to actually implement that knowledge and live by the advice you’ve acquired. Thanks for all these great tips and for encouraging people to actually use them.

  2. I always tell people there are only two steps to succeeding; planning and execution. Far too often people come up with a solid plan, or at least a good one, only to fail because of the execution. It’s much easier to find a good plan, after all there are all kinds of people with knowledge who will offer advice. However, no one can step up and execute for you. If you need to spend less, that is something you have to do on a daily basis.

  3. We are just about to start in this investment journey so we will be following some of these principles with interest.

  4. Andy I’d subscribed and gotten the eBook a while ago but never took the time to read it. Thanks for making it easy to jump online and clickthrough!

  5. Good, concise encouragement. There’s a lot of financial illiteracy going around–thanks for writing a simple series to educate!

  6. I agree, the largest obstacle in taking a commitment like saving for a rich retirement is definitely discipline. If you cannot apply yourself to make the changes necessary to save, then you won’t be able to change very easily now will you? Great and interesting post!

  7. I think this is the best advice out of them all! Knowledge is of little use unless you apply it! Great series!

  8. Very interesting perspective on disposable income, while most regard it as something that is SUPPOSED to go down the drain! Great post and course.

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