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The Frugal Creditnista

The Basic Laws of Money

Money SMART Monday:

Carefully study the basic laws of money; no one can succeed with money if they do not understand how it works in the real world.

(Laws fully explained @ http://www.successwithmoney.com)

1. THE LAW OF EXPECTATION. All individuals have a potential for prosperity and financial freedom when they expect and plan for them.

2. THE LAW OF COMMITMENT. Money is a trust that we must choose to manage wisely, productively, and honorably for our own good, for our families, and for others.

3. THE LAW OF CONTROL. While each of us has a potential to live prosperously in constructive control of our financial affairs, this potential becomes a reality only when we live in harmony with proven principles of financial success.

4. THE LAW OF MANAGEMENT. Asserting control over our financial lives requires us to manage our personal finances as we would those of any important business, utilizing basic management skills such as goal setting, planning, organizing, record keeping, allocating resources, evaluating, and decision making.

5. THE LAW OF FINANCIAL FREEDOM. Financial independence is not generated by temporary levels of wealth or income but by setting correct priorities, exercising self-discipline in financial decisions, living debt free, effectively managing resources, and claiming it as a personal emotional and mental attitude.

6. THE LAW OF PRODUCTIVITY. Each of us prospers in proportion to our productivity as we increase our moneymaking skills and direct them toward long-term personal benefits.

7. THE LAW OF SELF DISCIPLINE. Prosperous people do honest work for their money, expect fair compensation for their work, and understand how money works in the real world.

8. THE LAW OF ENTHUSIASM. Becoming a productive, effective, and prosperous person can and should be a lot of fun.

9. THE LAW OF PATIENT PERSISTENCE. Success with money requires persistence and patience as much as it does knowledge and skill.

10. THE LAW OF TRUE WEALTH. Real prosperity is measured as much by how we use our money as it is by how much we have.

©Dr. James G. Salmons

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