| Real Life Strategies for Building Wealth

When it comes to money, the most important thing is to be prepared!

This is The Money Principle way which I’ve been telling you about for four years now.

It is important to be prepared by:

  • Putting some cash in the bank.
  • Keeping some cash at home.
  • Getting together and keeping handy some valuables; like a bit of gold, some jewellery.
  • Paying off your debt.
  • Having at least five sources of income.
  • Increasing your cash-flow.
  • Investing only in things over which you have at least partial control.
  • Developing your skills (all levels).
  • Learning continuously.
  • Honing your craft whatever this may be.
  • Keeping your eyes open and your wits about you (so you can catch the waves of change and trouble).

You see, for me, being financially healthy is not only and simply about money – it is about the totality of your life and how you cope with the dynamics of it.

One day, I’ll give you a proper test so you know whether you are financially healthy or not.

But today is Friday and there is a weekend to fill with thinking and learning. So, here are the results from a study by AXA Self Investor presented in an easy form.

Have a look!

Would you believe that:

  • Three out of every four people who replied didn’t know what the maximum amount you can put in an ISA this tax year is?
  • That seven out of every ten people have not saved anything into an ISA?
  • And that over half of the interviewed find investing overly complicated?

Now this is something worth thinking about this weekend.

Finally, let me ask you a question: how much did you save last financial year (the one that ended on April 5th) and where do you keep your savings?

How financially healthy do you think you are?