Your Household Leaks 10% or More of Your Monthly Income
That’s a pretty bold statement, but when it comes to the people we work with – some of the most successful and financially savvy people of any group any where – I can count the exceptions to it on one hand and still have several fingers left over.
The bottom line, most people keep far less of the money they make than they should. Most entrepreneurs, independent of how much they take in, are bleeding 10% or more of their total income each month.
And this money-leakage not only hurts your lifestyle in the here and now, but cripples your ability to align your finances with your Soul Purpose and to accelerate your money.
Let’s face it, when you lose that 10% or more, it’s not taken from your mortgage and grocery bills – it’s taken from what’s normally called your “disposable” income. In short, it’s taken from your freedom.
Harnessing your cash flow to provide you with more freedom and greater ability to invest in yourself and your Soul Purpose is a core facet of Freedom FastTrack, and usually one of the first steps on your path to financial independence.
Where Most of Us Are Bleeding Money Each Month:
- 93 percent of people we survey are overpaying taxes
- improper corporate structure
- lack of coordination amongst different financial professionals and advisors
- hidden commissions and unnecessary investment fees
- forgotten, recurring monthly charges
- credit card fees
- paying too much for insurance, due to under-insuring and insuring in a piecemeal fashion – robbing you of money and increasing your risk
- not knowing about valuable tax deductions
- general lack of household accounting skills– what’s coming in vs. what’s going out
- paying more for financing due to a poor credit score
All of these income robbers should concern you individually. But they’re also all just symptoms of a larger, malignant point of view. From our insurance, to our credit score, to overpaying financial advisors, most households simply accept these costs as inevitable. Most never take charge.
But failing to stay in charge and letting so much money slip away so has a cumulative negative affect. Imagine what an extra 25% could mean to your ability to invest in your Soul Purpose, take a vacation, improve your business or just reduce your stress. The opportunity costs – the money and assets you could have produced with that lost money – are often the difference between an average life and a wealthy prosperous one.
Where are you bleeding? How much?
One of the simplest snapshots of where you are currently in your finances you’ll ever get comes from answering 10 Questions that it’s taken me half a lifetime to assemble, articulate, and interrelate so succinctly. It’s a mandatory part of entry to the FastTrack programs, and I’m making it available to readers of this site.
Take our Cash Recovery Analysis and get an immediate, actionable insight into your finances. The only obligation is a personal commitment to yourself to take action on the insights you receive.