Bob Procter Essay on EarningMoney

Topic: Its Easy to earn money

There is a very real possibility that everything you and I have been taught about how to earn money is so far from the truth that it’s almost comical. Earning money has nothing to do with age, formal education, gender or geography. It has nothing to do with past experience or your formal years of education or your level of intellect. Check it out… there are individuals who are functionally illiterate who have become multi-millionaires, while there are others who are absolutely brilliant and they are broke. Virtually anyone can be taught how to earn millions of dollars and yet the sad truth is that 97 out of every 100 people are born, live their entire lives, and die without ever learning how to earn money. To perpetuate this ridiculous problem, their ignorance is passed along from one generation to the next.
Our school system has been designed as an environment to enlighten young minds, to replace ignorance with understanding and thereby improve the quality of life. Our educational system has obviously been successful in many areas. However, it has woefully neglected one important subject, “How to Earn Money.” You can earn a doctorate degree in economics and have little or no knowledge of how to earn money. A lack of understanding in this area is the cause of numerous unwanted and unnecessary problems, since money is the medium of exchange that is used worldwide for other people’s products and services.
There has always been a small, select group, approximately 3% of our population, who clearly understand that prosperity consciousness is the primary cause of wealth and their prosperity consciousness, like ignorance, is also passed down from one generation to the next.
Let’s look at “money.” What is it? Money is a reward you receive for the service you render. The more valuable the service, the greater the reward. Thinking of ways we can be of greater service will not only help us earn more money, it will also enable us to grow intellectually and spiritually.
Money Is An Idea
The paper you fold and place in your purse or pocket is not money. It is paper with ink on it. It represents money, but it is not money. Money is an idea. The earning of money has nothing to do with the paper stuff. It has to do with consciousness.
I am aware there are books that instruct you on how to manipulate the market, stocks and people… they might even help you get money. But, let me caution you… when there is no spiritual growth… there is no spiritual strength… there is no lasting happiness… and, there is no real or lasting wealth.
To accumulate wealth, a person must become very comfortable with the idea of money. That may sound strange, however most people are not comfortable with the idea of money, which is why they do not have any. The cause of poverty is poverty consciousness. A poverty consciousness will cause a person to see, hear, smell, think and feel… lack and limitation.
The late Mike Todd said, “Being broke is a temporary situation. Being poor is a mental state.”
He was correct. There are wealthy people who lose every cent they have through a series of mistakes in judgment… but that does not make them poor. They will have it all back in a short time because of their prosperity consciousness.
If you have any question in your mind regarding your level of consciousness with respect to money, be very honest with yourself and look at your results. Study the patterns in your life.
If you want to improve your financial position in life, focus your attention on creating a higher level of prosperity consciousness. Begin by preparing a powerful, positive affirmation and fuel it with emotion. When you do this, you are depositing this creative energy in the treasury of your sub-conscious mind. And, by repeating this process over and over and over again every day, it will begin to alter your conditioning and mentally move you in the direction you want to go. Write it out, read it, feel it, and let it take hold of your mind.
How much money do you want? Saying you want more is not good enough. Five dollars is more. How much more? Decide on a figure. Be specific. You will not seriously want more money than you are capable of earning… however, you would be wise to remember, you must earn it.
There Are Three Income Earning Strategies
Trading time for money – By far the worst of the three income earning strategies, it is employed by approximately 96% of our population – doctors, lawyers, accountants, laborers, etc. There is an inherent problem with this strategy – saturation. You run out of time. If a person accumulates any degree of wealth employing this strategy, it will be at the expense of a life. They compromise on the car they drive, the house they live in, the clothes they choose and the vacations they take. They rarely, if ever, get what they want.
Investing money to earn money – This strategy is used by approximately 3% of the population. The number is small for the obvious reason – very few people have any money to invest. Many people who effectively employ this strategy follow the advice of a trusted, knowledgeable advisor.
Leveraging yourself to earn money – This is where you multiply your time through the efforts of others by setting up Multiple Sources of Income (MSI). This is, without question, the very best way to increase your income. Make a decision to have many sources of income; it’s the strategy that wealthy people have used dating clear back to the ancient Babylonians. Unfortunately, this strategy is only used by approximately 1% of our population, yet that 1% earns approximately 96% of all the money that is earned! You are only a decision away from membership.
Once you determine how much money you want to earn, write it down on a sheet of paper in large figures. Look at the number with the dollar sign beside it and tell yourself over and over again: That Amount of Money is an Effect. It Represents a Reward that I Want to Receive. What Service Can I Render that Would be Deserving of that Reward?
You can take the total figure and divide it into multiple parts. Each part would represent a source of income. Each source of income represents a separate reward that you would receive for a service you would render.
Work on one source of income at a time; each one can become an exciting part of your life. What you are actually doing is thinking of different ways you can be of service to others.
Think of how you can do whatever you do – more effectively.
Think of how you can improve the quality and quantity of service you render.
Think of how you can help people in a greater way.
Money is the ultimate servant. The more you earn, the more you can help others.

Rich Dad Poor Dad

As a kid i had always wondered some money questions- My parents were academics, they always stressed the importance of studies and always told me studying well alone leads one to betterment in life. But we lived in a place where we were mostly sorrounded by uneducated petty bussiness men. I did see my dad who was well educated and holding a high position in a multi national firm struggle sometimes to afford few luxuries while those uneducated families could easily afford it. I did ask my dad how come less educated can do all that- Dad simply used to say they are different from us, but finally we will be in a good position than them. I believed him.I did sense as i grew up there were many circumstances where those guys cannot even afford good education and there were days where they spent a fortune on dressing up buying goods. But we were going steady- a budgetted life. There were limits on what we can afford but always had enough for food and education.Finally when i was an adult, Those school drop out neighbour kids were earning more than me and their families still can afford all luxuries they wanted while i like my dad had a job with a decent steady income, same budgetted life.Ofcourse there were few other such families who were doing great during my childhood now very much in poverty. Nothing made sense to me ever-

Until finally i chanced upon this book "Rich Dad Poor Dad".

Here the Author Robert Kiyosaki explains what the rich teach their children that the poor[and the middle class likeus] do not. How the rich's attitude and world view make them and their children richer while the poor because of their thinking continue to remain poor.

Kiyosaki uses the metaphor of two dads, one is his highly educated dad and the other his friend's dad who is a school drop out. The former is a professor while the latter a business man.

He states how each of them go through lives and finally his dad whom he calls poor dad dies with unpaid bills while his friend's dad whom he calls rich dad died a millionaire. He also states how rich dad demonstrated the art of making money to him.

He says the Rich do not work for money, but let their money work for them.

They teach their children how to make money and grow it while talking money is taboo in many poor and middle class households. Its true. We as children were discouraged from talking about money.Loving money was a sin. In this book Kiyosaki stresses the importance of what a horrible dredge life becomes when we slave our lives for money, getting up everyday doing things we dont like to do otherwise. He paints a sorrow picture of the working class and encourages one to mind their own business.i.e start and run their own businesses. He teaches how to build assets to increase your income. He clearly explains how the poor families earn and spend on liabilities while the rich convert their income into assests that furthur increase their income. He does explain in simple words and diagrams what is a an asset and what is a liability.

He states how the businesses have this tax advantage as they are taxed on the after expenses profit. While salaried income is taxed at the source. How the salaried have to live with the fact that as their salaries go up, so are their expenses.

He classifies businesses,real estate, stocks and bonds and precious metals as assets.He also stresses how the rich have the tremendous potential of increasing their income manyfold as their precious time is all theirs, while the poor's income gets limited by the number of hours he can put in. He pictures how the rich use other people's expertise and money to invent their own money while the poor depend solely on their skills alone to generate income.

Throughout the book he again stresses not to work for money and let your money work for you.

He wants people to know how to increase the passive income[income generated from the assets] to cover one's expenses. This he calls "exiting the rat race", once this stage is reached we nolonger have to slog our hours for money instead we will be in a position as all our time is ours.

Its quiet an encouraging read.Inspirational , yet there are few loopholes. I do not agree with people dropping out of school to start businesses- unless they are intelligent beings who can use the educated experts to run their businesses, they sure have a very high chances of failing.

I agree whole heartedly that the curse of the poor is that they do not build assets.Their ambition gets killed as they slog through long hours to earn a living. While the rich have all their time to find creative ways of making more and more money.

Moral: Work towards your financial freedom. Dont depend on job to save your life.Build your own businesses and be in control of your time. Always think in terms of "How can i afford it" instead of saying "i cant afford it".