The lack of money is often not our problem, it is the way we spend it. Wealthy people tend to spend money on things that increase in value or provide them with a return on their investment. People who are not wealthy spend the bulk of their money on items that perish, depreciate or have no return on their investment. Even the family home, which is often the most expensive item that most people purchase, usually provides no return on their large capital outlay.

The lack of money is often not our problem, it is the way we spend it. Wealthy people tend to spend money on things that increase in value or provide them with a return on their investment. People who are not wealthy spend the bulk of their money on items that perish, depreciate or have no return on their investment. Even the family home, which is often the most expensive item that most people purchase, usually provides no return on their large capital outlay.

The lack of money is often not our problem, it is the way we spend it. Wealthy people tend to spend money on things that increase in value or provide them with a return on their investment. People who are not wealthy spend the bulk of their money on items that perish, depreciate or have no return on their investment. Even the family home, which is often the most expensive item that most people purchase, usually provides no return on their large capital outlay.

Making money is 90% thought and 10% know-how. When I work with clients, I find the first major hurdle to overcome is their belief system governing money.

To change your financial position, the first thing you need to do is examine your attitude, beliefs and thoughts about money. It is only the belief that money is a scarce resource that makes you feel inadequate to create more to achieve financial freedom.

Making money is 90% thought and 10% know-how. When I work with clients, I find the first major hurdle to overcome is their belief system governing money.

To change your financial position, the first thing you need to do is examine your attitude, beliefs and thoughts about money. It is only the belief that money is a scarce resource that makes you feel inadequate to create more to achieve financial freedom.

Making money is 90% thought and 10% know-how. When I work with clients, I find the first major hurdle to overcome is their belief system governing money.

To change your financial position, the first thing you need to do is examine your attitude, beliefs and thoughts about money. It is only the belief that money is a scarce resource that makes you feel inadequate to create more to achieve financial freedom.

One of the greatest mistakes you can make in managing money is not knowing where your money is going. About 90% of people who come to see me do not know exactly how they spend their money. Some may have small notebooks where they scrawl their monthly accounts but when they start to put everything down on paper, they are always surprised, if not shocked, to see the real state of their finances.

One of the greatest mistakes you can make in managing money is not knowing where your money is going. About 90% of people who come to see me do not know exactly how they spend their money. Some may have small notebooks where they scrawl their monthly accounts but when they start to put everything down on paper, they are always surprised, if not shocked, to see the real state of their finances.

Planning and goal setting are critical to your success if you want to become wealthy. The two key traits of people who do not become wealthy are, firstly, they tend to spend all of the money they have and, secondly, they do not know what they spend their money on. The lack of goals is the main culprit. Ric Edelman, author of The Truth About Money and Ordinary People, Extraordinary Wealth, calls this "spending unconsciously".

There are two sides to wealth creation, earning money and spending it. In essence, if we spend less than we earn, we will ultimately, progressively become rich.

However, I also like to reinforce the other side of the wealth equation, income, because most budgets and money management programs focus too heavily on reducing the expenditure, which is often restrictive and sometimes depressing.