Your Financial Independence Compilation

Welcome to the August 22, 2010 edition of financial independence.


Your free gift

We are offering you a free gift that we are sure it will inspire you on your road to success. The book the Science of getting rich has inspired me and started me on my road to financial independence. I encourage you to download the book and join the SOGR network. You have nothing to lose. Click here to download your free book.

Your Financial Independence Articles

Share Types - Depending on their capital requirements, many companies issue different types of shares in addition to ordinary shares. Each type of share and separate classes within each type may have different rights attached. Your stockbroker can help you to understand the advantages and disadvantages of various types of shares before you invest in them. This article will give you a brief summary on the different types of shares.

The science of getting rich - the impression of increase - "When dealing with other people, whether personally, via the internet or any other means of communication, the key thought of all your efforts must be to convey to their minds the impression of increase." Convey the impression of advancement with everything you do, so that all people shall receive the impression that you are an “advancing personality” and that you advance all who deal with you. Even to the people whom you meet in a social way — without any thought of business and to whom you do not try to sell anything — give the thought of increase.


How to make money online - 10 ways to use the internet to make money - There are many different ways to make online. Better still, you can setup sources of passive income that will continually flow money into your life...

The most important money advice - There is only one rule that should direct your personal finances. If you are able to understand and apply this rule you have mastered all that you need to achieve financial independence.

The rule is...

Reader's Sponsored Articles

Moneyedup presents Invest to Improve Your Cash Flow posted at MoneyedUP, saying, "Income investing can improve your cash flow to help you meet your monthly budget needs."



Silicon Valley Blogger presents Stock Trading For Dummies: How To Profit From Trading posted at The Digerati Life, saying, "Thanks!"




Ryan @ MFN presents Best Investment Options for Deployed Military Members posted at The Military Wallet, saying, "Deployed military members have access to special investment opportunities not available to everyone. Here are some of the best investment options."



Tim Chen presents Amex is Hiking Fees on the Starwood Preferred Guest Nearly 50%, and it?s Still a Good Deal. posted at NerdWallet Blog - Credit Card Watch, saying, "American Express has started sending out letters to its cardholders, informing them that it plans to raise the annual fee from $45 to $65 starting October 14th, and it’s modifying the rewards program a bit. If you’re a cardholder, you may be considering canceling the card in anger at the prospect of a higher fee, but we don’t think you should."



Alexander presents General Mills Pays Dividends posted at Dividend Stocks, saying, "General Mills General Mills is a good stock for fixed income investors looking to add some income to their portfolio."



MoneySecretRecipe presents How Anyone Can Get Paid To Blog With Google Adsense posted at MoneySecretRecipe.



Ella Moss presents THE SILENT BANG « Zodiac Times posted at Zodiac Times, saying, "the 3rd page news (for now)"



Richard Adams presents The Insiders Guide To Cutting Your Cell Phone Expenses posted at Debt Assistance Guru.



Online Dividends presents ING Electric $50 Checking Bonus posted at Blogging Banks, saying, "ING Direct has another $50 Cash Bonus for new clients who open their Electric Orange Checking account. Check below for more details:"



nissim ziv presents How to Negotiate a Salary: Negotiation Tips, Questions & Expectations posted at Job Interview Guide, saying, "Negotiation skill is a skill that not many people possess. In general, negotiation is an art. Every word you say is important in the end results."



Charles Chua C K presents 10 Tips to Avoid Getting Into Debt posted at All About Living with Life.



mick presents Rental Insurance for Apartments ? Do All Renters Really Need It? posted at PadBlog.



Abbott Efrain presents What Are Low Cost Payday Loans? posted at Cheap Payday Loan Blog, saying, "Low cost payday loans are small sums of money that a person can use to handle the cash crunch in between his paydays"



Adam Park presents 10 Indicators That it’s Time to Buy a New Car posted at Computer Science Schools.



Mike Piper presents Replacing the 2% Schwab Credit Card posted at The Oblivious Investor, saying, "2% cashback on all purchases is hard to beat. Unfortunately, the card is no longer available to new users. What's the next best thing?"



FMF presents Three Myths About Earning More Money posted at Free Money Finance, saying, "If you want to be different and really start earning more money, you'll need to be able to identify and overcome three big myths of entrepreneurship."



Preity Smith presents 100 Lessons You Should Learn from Frugal People posted at College Crunch.



Aileen Black presents Steps to Overcome Debts Problems with Debt Consolidation Loans « Debt Relief Blog posted at Debt Relief Blog, saying, "If you are constantly worried about the thought of getting rid of your debts and are looking out for a way, then debt consolidation loans are the best option for you."



freefrombroke presents Why Invest In Stocks posted at Free From Broke, saying, "Stocks are a great way for an investor to build long-term wealth."



BWL presents 403b Rollover (and Conversion) To A Roth IRA posted at Christian Personal Finance, saying, "This article documents the steps I took to rollover and convert my wife's 403b to a Roth IRA..."



Jacob A. Irwin presents Rejuvenate Your Investment Strategy for Retirement Using Currency Exchange posted at My Money Blog - Personal Finance and Investing, saying, "A recent guest post detailing how an individual can incorporate currency trading in to their personalized investment strategy to achieve the goal of financial independence."



Michael Pruser presents How To Separate Finances During a Divorce posted at The Dough Roller, saying, "Becoming independent during a divorce can be hard but very necessary"



PT presents Does a College Education Equal Financial Security and Wealth? posted at Prime Time Money, saying, "Two takeaways from the college years that could trip you up financially in the long-run."



FitBuff presents Poor Credit Car Loans ? Best Online Lenders posted at Instant Credit, saying, "If you're in debt, chances are your credit is suffering, and you have to settle for poor credit car loans, but this article helps you get the best possible loan for your situation..."



Nesher presents Reverse Mortgage: Is it Right for You? posted at Planning your Retirement Smart Way.



Roshawn Watson presents The Rich Don't Need The Rest of America posted at Watson Inc, saying, "Fortunes of many American companies and investors use to be closely tied to American workers and consumers. However, this is no longer the case."



MoneyNing presents Money Matters, But Money Isn’t Everything posted at Money Ning, saying, "Money isn't everything even though it matters a great deal!"



Rob presents Best IRA Rates posted at Stock Tips, saying, "Being able to find the best IRA rates available today will help protect your money and financial independence tomorrow."




That concludes this edition. Submit your blog article to the next edition of financial independence using our
carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Share market indices - measuring the market

An understanding of the language of the sharemarket is essential if you wish to properly communicate with your adviser and/or benefit from the market information available to you. For example you may have heard on the news such as the following:

"After a slow start, turnover on the sharemarket was strong today, with the All Ords finishing up 23 points to 5,300. On overseas markets, the Dow Jones rose slightly to 11,340."

What does that really mean? Listeners are being given an indication as to the general trend of the sharemarket both in Australia and in the USA. The "All Ords" and "Dow Jones" are an index.

An index is simply a measure of performance over time. A sharemarket index is a measure in the change in price of a basket of shares. The number of shares in the basket will determine how closely the index represents the entire market.

The concept of an index is not only used in the sharemarket. A widely followed index is inflation. Inflation is the change in price of a basket of goods. This is measured by the Consumer Price Index – CPI.


The All Ords

The All Ordinaries or All Ords is a measure of the overall performance of the Australian sharemarket at any given point in time. It is made up of the share prices for 500 of the largest companies.

The companies are weighted according to their size in terms of market capitalisation (total number of shares on issue multiplied by the share price). For example, Telstra and National Australia Bank have very large market capitalisations and represent a large component of the All Ords. Movements in their share price have a marked effect on the level of the All Ords index.

The All Ords does not include the value of any dividends paid to shareholders and therefore does not reflect the total returns made from sharemarket investments during that period. An index that takes into account both price movements and dividends is called an accumulation index.


Standard&Poor’s Index Services

Standard & Poor’s (S&P) Index Services provides the index calculation services for the Australian sharemarket.

While the All Ordinaries has been a popular index for many years, the main index used in the Australian market is the S&P/ASX 200 index. It is recognised as the investable benchmark for the Australian equity market. It addresses the needs of investment managers to benchmark against a portfolio characterised by sufficient size and liquidity. The S&P/ASX 200 is comprised of the S&P/ASX 100 plus an additional 100 stocks. It forms the basis for the SPI 200 and the ASX mini200 futures contract, and the SPDR S&P/ASX 200 exchange-traded fund.


International indices

Indices are used to benchmark sharemarkets all around the world, with the most well known being the Dow Jones Index, a share price index that measures the market prices of the top companies listed on the New York Stock Exchange.

In London, the Financial Times Stock Exchange Index, better known as the FTSE 100 or 'the Footsie', lists the 100 largest public companies traded on the London Stock Exchange.

The Hang Seng is the principal Hong Kong share price index. The main market barometer in Japan is the Nikkei Dow Index which covers the top 225 shares listed on the Tokyo Stock Exchange.

The German Stock Exchange Dax 30 (covering 30 blue chip stocks) is unusual in that it is an Accumulation Index, whereas all the others are price indices, meaning they do not include dividends.

The science of getting rich - the advancing personality

"The person who is merely a “good” worker, filling his place to the very best of his ability and satisfied with that, is valuable to his employer, and it is not to the employer’s interest to promote him. He is worth more where he is. To secure advancement, something more is necessary. The person who is certain to advance is the one who is too big for his place, who has a clear concept of what he wants to be, who knows that he can become what he wants to be, and who is determined to be what he wants to be. "

The last two posts on the Science of Getting Rich series are, to me, the most important in terms of action that produces result. I am not dismissing the other articles and advice on the book, my point is that people seeking for financial independence are usually after concrete advice that can deliver results quickly. Whilst very few people will get rich very quickly, unless you inherit a lot of money or win the lottery, hard work will eventually get you there.

The last two posts talked about getting into the right business and the impression of increase. To summarise very quickly the books says to get into a business that you know about it and that you are familiar with it. If you are a lawyer, don't try to become a medical doctor. Spend your time wisely on the topics that you can be most productive in the shortest amount of time. The second advice, give everyone you interact with the impression of increase, is equally powerful. When dealing with other you must ensure that they get something of value from you, that their life is enriched by dealing e with you. It is equally important that they know and they are aware of the value they get from you. If there is an exchange of cash for services or for goods you need to ensure that the value they get from you is higher than the cash they are giving you. This way they will come back to you over an over again.

No matter whether you are a physician, a teacher, or a clergyman, if you can give increase of life to others and make them sensible of that fact, they will be attracted to you, and you will get rich.

A person with the advancing personality does all the work, every day, and do each piece of work in a perfectly successful manner. You must put the power of success and the purpose to get rich into everything that you do.

The person who is merely a “good” worker, filling his place to the very best of his ability and satisfied with that, is valuable to his employer, and it is not to the employer’s interest to promote him. He is worth more where he is. To secure advancement, something more is necessary. The person who is certain to advance is the one who is too big for his place, who has a clear concept of what he wants to be, who knows that he can become what he wants to be, and who is determined to be what he wants to be.

This advice does not only relate to being promoted at work. It also relates to your financial situation. If your initial goal is to get our of debt in order to be able to save, invest and become financially independent, then you must know and act with the firm believe that you can achieve that. You must be bigger than you current situation by taking control and having an unfathomable desire and will to change. If you do that and you act to cause change in your life then you will advance and you will get rich.

There is no such thing possible in this universe as a lack of opportunities for the person who is living the advancing life.

Financial Independence Compilation

Welcome to the August 15, 2010 edition of financial independence.


Your free gift

We are offering you a free gift that we are sure it will inspire you on your road to success. The book the Science of getting rich has inspired me and started me on my road to financial independence. I encourage you to download the book and join the SOGR network. You have nothing to lose. Click here to download your free book.

Your Financial Independence Articles

Share Types - Depending on their capital requirements, many companies issue different types of shares in addition to ordinary shares. Each type of share and separate classes within each type may have different rights attached. Your stockbroker can help you to understand the advantages and disadvantages of various types of shares before you invest in them. This article will give you a brief summary on the different types of shares.

The science of getting rich - the impression of increase - "When dealing with other people, whether personally, via the internet or any other means of communication, the key thought of all your efforts must be to convey to their minds the impression of increase." Convey the impression of advancement with everything you do, so that all people shall receive the impression that you are an “advancing personality” and that you advance all who deal with you. Even to the people whom you meet in a social way — without any thought of business and to whom you do not try to sell anything — give the thought of increase.


How to make money online - 10 ways to use the internet to make money - There are many different ways to make online. Better still, you can setup sources of passive income that will continually flow money into your life...

The most important money advice - There is only one rule that should direct your personal finances. If you are able to understand and apply this rule you have mastered all that you need to achieve financial independence.

The rule is...

Reader's Sponsored Articles

Aileen Black presents Use Debt Consolidation to Break Free from Debt « Debt Relief Blog posted at Debt Consolidation Company: How To Make The Right Choice, saying, "Do you feel that you are drowning into the ocean of your own debts? Do you feel your life is one unending procession of debt payments and what you need is immediate debt consolidation help?"


Paul Bracero presents How to Make Money through Forex posted at How to Make Money through Forex.


Pinyo presents Get Your Free Credit Score Online posted at Moolanomy, saying, "Learn how to get your credit score for free and stay on top of your finances"


Mike Piper presents HDHP Insurance: When Does a High-Deductible Health Plan Make Sense? posted at The Oblivious Investor, saying, "When you're self-employed, you have to buy your own health insurance. When is a high-deductible health insurance plan better than a traditional co-pay plan?"


Online Dividends presents Get up to $75 with EverBank posted at Blogging Banks, saying, "New customers at EverBank could generate up to $75 in cash bonuses if they open a qualifying account with the bank. Check offer details below for more information."


FMF presents Saving: The Most Fundamental Element of Wealth posted at Free Money Finance, saying, "Saving is the foundation of wealth creation."


Arjun Rudra presents How To Make Your Mortgage Interest Tax Deductible posted at Investing Thesis, saying, "For US homeowners, mortgage interest is automatically tax deductible. But for Canadians, the write-off is not so straightforward. In order to make your mortgage interest tax deductible, homeowners must be able to prove that the money is being reinvested and is not being used for personal expenses."


Gene Melchionne presents Why Your Credit Score Doesn’t Matter posted at Money Health Central, saying, "Reasons to change your focus from the credit score to paying off debt."


Charles Chua C K presents 10 Money Matters to Teach Your Children posted at All About Living with Life.


BWL presents Which Debt Should I Pay Off First? posted at Christian Personal Finance, saying, "A look at a common question and answer on which debts should be paid off first..."


MoneyNing presents 15 Ways to Earn Extra Money posted at Money Ning, saying, "There are lots of ways to make more money. Here are 15 to start you off."


Jacob A. Irwin presents How to Maximize Your Profits with Dropshipping posted at My Money Blog - Personal Finance and Investing, saying, "A recent guest post about how to increase profits and reduce the headaches of selling items on eBay or Amazon through dropshipping."


Silicon Valley Blogger presents Investing In Bonds: Make Money The Boring Way posted at The Digerati Life, saying, "Thanks!"


Scott Lee presents Creating a Life Transformation From the Ground Up posted at Scott Free Thinking.


Sun presents Watch Those Fees to Improve The Performance of Your Portfolio posted at The Sun’s Financial Diary.


That concludes this edition. Submit your blog article to the next edition of financial independence using our
carnival submission form. Past posts and future hosts can be found on our

blog carnival index page.

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Share Types

Types of shares

Depending on their capital requirements, many companies issue different types of shares in addition to ordinary shares. Each type of share and separate classes within each type may have different rights attached.

Your stockbroker can help you to understand the advantages and disadvantages of various types of shares before you invest in them.


Ordinary shares


• Represent the bulk of a company's basic ownership money or equity capital.

• Shareholders benefit from any distributions of dividends and can vote at company meetings. The more ordinary shares they own, the greater their control over the company.

• Rank last behind other types of shares if the company is wound up


Preference shares


• Are entitled to a preferred dividend paid before the ordinary dividend is announced. The dividend is often paid at a fixed rate.

• Have priority over ordinary shareholders for repayment of capital if the company is wound up.

Trust units


• In the form of property trusts and equity trusts.

• From an investor's point of view, units in listed trusts are similar to ordinary shares except that a full distribution of profit is made to unit holders instead of a dividend.

Contributing shares


• A company may issue new shares without requiring full payment immediately. In such a case, it may issue the shares on a contributing or partly-paid basis.

• Shareholders make further payments on certain dates or in some cases, may forfeit their shares.

• Have equal voting rights with ordinary shares and dividends are usually paid on a pro-rata basis.

Rights and bonus issues


Companies can make special issues of rights or bonus shares to shareholders. As a shareholder, it is important for you to understand what each issue entails and the important dates involved. If you have any doubt about such issues you should contact your client adviser/stockbroker.

Bonus issues


Bonus issues are shares issued free of charge to shareholders. The size of the issue reflects the improved value of the company's assets.

Bonus issues are made on a predetermined pro-rata basis, for example, one for ten.

This means you will receive one new share for every ten you currently own. For example if a company in which you hold 1,000 shares announces a 1-for-10 bonus issue, you are entitled to 100 more shares at no cost, which would bring your total holding to 1,100 shares.

Once a bonus is issued, the price of the shares is likely to drop as the value of the company's assets is now spread over a larger number of shares. Bonus shares dilute the market price of the shares in direct proportion to the increase in the total number of shares on issue.

This price adjustment occurs on the ex-bonus (XB) date. An investor who buys the existing shares on or after the XB date is not entitled to the bonus shares - they belong to the previous owner of the shares.

Rights issues

A rights issue entitles existing shareholders to take up additional shares in the company at a below-market price and without having to pay brokerage. Rights issues enable the company to raise additional funds from shareholders, perhaps for expansion or to repay debt. For example, Company X may have a rights issue to raise $300 million to fund its takeover of Company Y.

The process for a rights issue is similar to a float, in so far as a prospectus is prepared and an underwriter is often appointed. Shares are offered on a predetermined pro-rata basis, for example, 1 for 4. This means that for every four shares you own, you can purchase one additional share at the discounted price.

A rights issue may be renounceable or non-renounceable. Renounceable means shareholders are entitled to sell their rights to other investors on the sharemarket if they do not wish to take up the additional shares themselves. Non-renounceable means only existing shareholders can participate and you must either take up the shares or forfeit the rights.

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The science of getting rich - the impression of increase

"When dealing with other people, whether personally, via the internet or any other means of communication, the key thought of all your efforts must be to convey to their minds the impression of increase."

Convey the impression of advancement with everything you do, so that all people shall receive the impression that you are an “advancing personality” and that you advance all who deal with you. Even to the people whom you meet in a social way — without any thought of business and to whom you do not try to sell anything — give the thought of increase.

You can convey this impression by holding the unshakable faith that you are in the way of increase and by letting this faith inspire, fill, and permeate every action.


You must so impress others that they will feel that in associating with you they will get increase for themselves. See that you give them a use value greater than the cash value you are taking from them.

To learn more about the Science of Getting Rich click here.

Financial Independence Compilation

Welcome to the August 11, 2010 edition of financial independence.

Your free gift

We are offering you a free gift that we are sure that it will inspire you on your road to success. The book the Science of getting rich has inspired me and started me on my road to financial independence. I encourage you to download the book and join the SOGR network. You have nothing to lose. Click here to download your free book.

Your Financial Independence Articles

How to make money online - 10 ways to use the internet to make money - There are many different ways to make online. Better still, you can setup sources of passive income that will continually flow money into your life...

The science of getting rich - getting into the right business - "The various faculties of your mind are the tools with which you must do the work which is to make you rich. So it will be easier for you to succeed if you get into a business for which you are well equipped with mental tools."

The science of getting rich - efficient action - You can advance in life only by becoming larger than your present place,  only by expanding your skills, abilities and actions. The world is advanced by people who do much more than they are required to do...

Reader's Sponsored Articles

Pinnacle Plans LLC presents Permission is Not Optional in Email Marketing posted at Pinnacle Plans blogs.

Eadwine Walter presents Top 20 Urban Planning Successes of All Time posted at Masters in Public Administration, saying, "Planning a city is no easy task. This is a list of the 20 cities that actually did urban planning right."

Tim Chen presents Costco TrueEarnings: the Best Credit Card for Well-Rounded Spenders? posted at NerdWallet Blog - Credit Card Watch, saying, "When you, as a credit card user, are hunting for ways to maximize rewards, attention-grabbing 5% cash back offers can be tempting. But we’ve made no secret of our view that these cards rarely offer the best deals. If you just want to find the one card that fits your spending habits the best and move on with your life, the Amex TrueEarnings Card from Costco might be exactly what you’re looking for."

Nabil Gulamani presents The new definition of what it means to be Rich and why this is important for you to know posted at SuccessAtReach — SuccessAtReach.

Big Cajun Man presents The Good Wine: A Personal Finance Parable posted at Canadian Personal Finance Blog, saying, "When you plan, make sure you complete the plan and do what you want, or you might not get what you want."

Online Dividends presents $50 Tradeking Cash Bonus Promotion posted at Blogging Banks, saying, "Tradeking, which one of the best stock brokerages in the US, has a limited time promotion for new clients. The promotion expires August 31, 2010. source:"

Norriss presents Payday Cash Loans posted at Cheap Payday Loan Blog, saying, "Payday cash loan are a way out when we have an urgent payment requirement."

Luke Lee presents Debt Management posted at Credit Card Debt Relief | Right Start LLC, saying, "This article describes the workings and benefits of a debt management plan (DMP) for unsecured debt problems."

BIFS presents 10 Signs of Debt Storms Ahead posted at Budgeting In the Fun Stuff, saying, "I would highly suggest avoiding these financial scenarios."

That concludes this edition. Submit your blog article to the next edition of financial independence using our
carnival submission form.

Past posts and future hosts can be found on our blog carnival index page.

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How to make money online - 10 ways to use the internet to make money

There are many different ways to make online. Better still, you can setup sources of passive income that will continually flow money into your life.

The key to making money online is to do something. I have recently blogged about this. If you want to achieve something, you need to move from your current place, and start to act towards achieving your goals. If you want to make money online and all that you do is read about it you will never make any money.

The key is to start today, do something today to help you to achieve your goals. Use the list below as the first step towards becoming financially independent.

This article will list  10 different ways to make money online.

1 - Make money taking online surveys

If you are looking for a way to make some extra cash you may want to check out online surveys. All you need to do is register with one, or more, of the websites available and start taking the surveys. This can be fun and it can help you to make some extra spending cash or to put some money away for a fun holiday anything that tickles your fancy.
 

2 - Ebay

Ebay offers people with the ability to buy and sell stuff. If you have stuff around the house that you don't need anymore put it on ebay and you can make some extra money. There are other more complicated ways of using ebay to make money, I suggest you start simply by selling some wanted goods online and then progress to other ebay strategies from there. 
 

3 - Blogging

Blogging can be an extremely fun and rewarding activity. It can also be very frustrating depending on how serious you are about it.

You can setup your blog today for free using blogger for example. You can then turn your blog into a money making stream by monetizing it, which means adding advertising and other web materials can give you money. Part of your blog can include an affiliate program, adsense or you can even sell your own products.

One of the most challenging tasks in blogging is learning how to improve the amount of traffic to your blog, This can be very frustrating and time consuming, My tip is to hang in there, develop your blog, learn how to drive traffic to your site and, with time, they will come.

4 - Make money with ClickBank

ClickBank is simple, if you have a website or blog you can look at the ClickBank MarketPlace and choose which products you want to promote on your site. Every time someone buys the product you advertise you get a piece of the pie. This is different than ad sense because you can choose which products you want to sell to suit your audience.
 

5 - Google Adsense

Adsense is one of the most common online revenue streams. All you need to do is to sign up with Google, include the adds on your site and every time someone clicks you get paid.

This can be an easier way to make money than online affiliate programs because you get paid by the click and not every time someone buys something.
 

6 - Selling E-books

Do you have a hobby? Maybe you just interested in some topic. Chances are the there are thousands of other people on the internet that are interested on the same topic that you are. Write an e-book about it and sell it online. Build a community around your topic and sell your book in this community.

Writing e-books can not be rewarding but it can also give you a nice little stream of income.
 

7 - Build your own online forum community

If you have web development skills you can create your own online community forum, otherwise you can use forums that are available on the internet. Choose a topic that you like and that you know about it and create an online forum. You can learn from it and you can also use it to produce income through the selling of e-books, adsense or other online revenue streams.

8 - Become a freelance writer

There are a few websites where you can sign up and offer your services as a freelance writter. You don't need any qualification, all you need is the ability to clearly write and articulate your ideas. Check out FreelanceHomeWritters for an example site where you can promote your services.
 

9 - Become an online tutor

There are companies such as Tutor.com where you can become a tutor on a part-time basis. With this particular company you have to reside in the US or Canada to be able to be a tutor. The opportunity is there for a rewarding online part time job.

10 - Chitika

Their eMiniMalls service have improved traffic and profitability of bloggers and site owners alike. They offer you a nice interactive ad units called eMiniMalls to place on you blog or website. Every time a user clicks on an add you get paid.

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The science of getting rich - getting into the right business

"The various faculties of your mind are the tools with which you must do the work which is to make you rich. So it will be easier for you to succeed if you get into a business for which you are well equipped with mental tools."

We continue in our journey to look at the timeless advice contained in the book "Science of Getting Rich"  by Wallace D. Wattles.

Success in any particular business depends on one thing only: the  faculties required to operate in that business.

The various faculties of your mind are the tools with which you must do the work which is to

make you rich. So it will be easier for you to succeed if you get into a business for which you are well

equipped with mental tools.

You will get rich most easily, in terms of effort, if you do that for which you are best fitted, but you

will get rich most satisfactorily if you do that which you WANT to do.

All other things being equal, it is best to select the business for which you have the best developed

talent, but if you have a strong desire to engage in any particular line of work, you should select that

work as the ultimate end at which you aim.

As you go on in the certain way, opportunities will come to you in increasing numbers, you will

need to be very steady in your faith and purpose, knowing that you have to work hard and that your business will be a success.

Do all that you can do in a perfect manner every day, but do it without haste, worry, or fear. Go as

fast as you can, but never hurry.

Whenever you find yourself hurrying, call a halt. Fix your attention on the mental image of the

thing you want and know that you can achieve it. The exercise of GRATITUDE will never

fail to strengthen your faith and renew your purpose. Always be grateful for where you are now and also, more importantly for where you will be in the future.

Get into the right business, one that you know about it and that you have the skills to develop it in a way that it can help you to achieve your objectives.

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How to get rich. How do you generate passive income?

We all know that the way to get rich is to have passive income. Passive Income is money that you make without having to work for it. Examples could be books in sell on the internet, rental income or shares.

If having passive income is the way to getting rich then we need to know as many ways of generating passive income as possible. How do you generate passive income? What are your passive income sources?

Would you please reply to this post via my new twitter page.

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The science of getting rich - efficient action

We continue in our journey to look at the timeless advice contained in the book "Science of Getting Rich"  by Wallace D. Wattles.

Wattles tells us to begin to do what we can do wherever  we are. The advice is simple, DO SOMETHING.

You can advance in life only by becoming larger than your present place,  only by expanding your skills, abilities and actions. The world is advanced by people who do much more than they are required to do.

In my case I want to be financially independent. Therefore I need to perform actions that take me closer to my objective. These actions may be learning about how to manage my finances, finding another job or starting my own business. I need to act in such a way that I can move from my current position and start to act in a way that will take me to the place where I want to be, financially independent.

Every day is either a successful day or a day of failure, and it is the successful days which get you

what you want. If every day is a failure you can never get rich, while if every day is a success, you cannot

fail to get rich.

If there is something that may be done today and you do not do it, you have failed insofar as that

thing is concerned — and the consequences may be more disastrous than you imagine.

You cannot foresee the results of even the most trivial act. You do not know the workings of all the

forces that have been set moving in your behalf. Much may be depending on your doing some simple

act, and it may be the very thing which is to open the door of opportunity to very great possibilities.

Your neglect or failure to do some small thing may cause a long delay in getting what you want.

Do, every day, all that can be done that day.

There is, however, a limitation or qualification of the above that you must take into account.

You are not to overwork, nor to rush blindly into your business in the effort to do the greatest

possible number of things in the shortest possible time. You are not to try to do tomorrow’s work today, nor to do a week’s work in a day. It is really not the number of things you do, but the EFFICIENCY of each separate action that counts.

On the other hand, every efficient act is a success in itself, and if every act of your life is an efficient

one, your whole life must be a success.

The cause of failure is doing too many things in an inefficient manner and not doing enough

things in an efficient manner.

Do, every day, all that you can do that day, and do each act in an efficient manner.

The trick is finding out what are the efficient acts. I am afraid this comes with experience and knowledge. That is why I encourage everyone to learn as much as possible about financial management and to learn from others. Learn the success, and failure, stories that others have to share. This way you will not make the same mistakes that others have made.

Do something today. You may want to start saving, or apply for a new job, or start a new business. Anything, take the first step today and start moving away from the place you are today and move towards where you want to be.

For more information about the timeless book the Science of Getting Rich click here.

Financial Independence Compilation

Welcome to the August 8, 2010 edition of financial independence.

Your free gift

We are offering you a free gift that we are sure that it will inspire you on your road to success. The book the Science of getting rich has inspired me and started me on my road to financial independence. I encourage you to download the book and join the SOGR network. You have nothing to lose. Click here to download your free book.


Teaching children how to manage their money.

For those of us who have children, I am included in this lot, I have been thinking what is the best way to teach them about money. I was talking to my 6 years old daughter the other day and she asked why we are poor. I nearly fell off my chair because we are not poor at all. She started mentioning how this friend at school went overseas for holidays or how the other friend has a big house and the list went on.

I tried to explain to her that we are not poor but I tried to talk about the things that are really important rather than money and other material things. Quite honestly I think that I failed because in the head of a 6 years old being rich probably means having lots of things.

The challenge for me remains, how to teach our children about how to manage finances. I will do a bit of research on the topic and hopefully I can learn from it.

Call for submissions: If you have published any good articles on how to teach children about finances, please submit them to my next edition of Your Financial Independence carnival. The next edition will be published on Wednesday, 11 August 2010.

Reader's Sponsored Articles


MoneyNing presents Three Reasons Stay at Home Parents Should Consider Working Part Time posted at Money Ning, saying, "Working part time is not as bad as it seems, even for stay at home parents!"


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Nabil Gulamani presents Why you are having a hard time saving your money every month! posted at SuccessAtReach — SuccessAtReach.


BWL presents How to Build a CD Ladder posted at Christian Personal Finance, saying, "This article lays out the basics of creating a CD ladder.."


Lauren Mendel presents Pay Now, Play Later posted at Richly Reasonable - Successes and failures, all in the name of living reasonably., saying, "Putting something in layaway is no different than setting up an automatic saving plan, but it may provide that extra incentive to save if you are in need of a little motivation. Maybe you like knowing the exact TV that is in Sears waiting for you. Maybe you like going into the store an making a payment; each time knowing you are a bit closer to that riding lawnmower and sweet victory. Whatever the reason, if layaway is what you need to achieve your savings goal, minus the credit card interest, then I am all for it."


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Ray A Johnson presents Milwaukee posted at The Debt Crisis.


Susan Kilroy presents 10 Foods With a Really High Price Tag posted at CriminalJusticeDegreesGuide.com.


Achola presents Forex Mechanical System Trading - How You Can Quickly Get Forex Software And Start Making Money Immediately! posted at Forex Mechanical System Trading | Simulated Forex Trading | Best Forex Software.


Sun presents What to Let Go to Get to Know Wealth posted at The Sun’s Financial Diary.


Jennifer Meyer presents 50 Excellent Twitter Accounts Every Public Administrator Should Follow posted at Master of Public Administration, saying, "It is possible to find and follow a wide variety of people with good public administration insights. Here are 50 great Twitter accounts for public administrators."

nissim ziv presents How to Find a Job after College: When you have No Experience posted at Job Interview Guide, saying, "Job markets all over the world are changing and becoming more competitive as the days pass. Even the simplest of jobs require a particular level of work and subject experience."


That concludes this edition. Submit your blog article to the next edition of financial independence using our
carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Share
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Financial Independence Compilation

Welcome to the August 4, 2010 edition of financial independence.

Your free gift - We are offering you a free gift that we are sure that it will inspire you on your road to success. The book the Science of getting rich has inspired me and started me on my road to financial independence. I encourage you to download the book and join the SOGR network. You have nothing to lose. Click here to download your free book.

 Your Financial Independence Articles

The most important money advice - There is only one rule that should direct your personal finances. If you are able to understand and apply this rule you have mastered all that you need to achieve financial independence.

Investing in shares - learning from the financial press - In this article, we discuss how to read the financial newspapers and look at other areas of the media that can provide you with information on share market investment.

The science of getting rich - acting in a certain way - Do not bother as to whether yesterday’s work was well done or ill done, do today’s work well. Do not try to do tomorrow’s work now, there will be plenty of time to do that when you get to it.

Do not wait for a change of environment, before you act, get a change of environment by action. Cause your environment to change. You can so act upon the environment in which you are now, as to cause yourself to be transferred to a better environment.

Buying and selling shares - The share market can be thought of in terms of its two main functions: The primary market where companies raise money by floating their company and selling shares to investors. Following this Initial Public Offering, the shares are then able to be traded on the share market (the secondary market).

So as an investor there are two distinct points at which you can purchase shares...

Real riches - I am right now on my way to work on a Monday morning. It seems to be a normal Monday morning, however, I have this empty feeling inside of me. This is unusual, as far as I can remember this has never happened to me.


Reader's Sponsored Articles


Charlie Kimball presents 7 Steps To Get Out Of Debt posted at Consumer Credit Guide, saying, "The toughest part is changing your attitude about spending money, using credit cards, and disregarding the future. Nothing is easy, but it is possible to get out. Even small steps make a difference . . . make a plan and attack your debts!"


Ellesse presents Can You Be Financial Independent Before 40? posted at Goal Setting College.


Nissim ziv presents Finding your Dream Career and landing the Job of your Dreams posted at Job Interview Guide, saying, "Here are some tips that you might use:
Make Yourself Competent for your Dream Career, Hone Your Core Competencies"


Mitch Archuleta presents How to Prioritize Multiple Retirement Accounts posted at RothIRA.com's Retirement Planning Blog, saying, "How to decide what order to contribute to retirement investment accounts."


Sam presents Investing in Gold posted at Surfer Sam and Friends, saying, "Thanks for including my article. Here's an excerpt...

When people buy and own gold they consider it as a store of value and a safe haven for wealth in economic crisis. One of gold's important properties is psychological, because it is so closely associated with money. This gives it an immeasurable advantage over other tangible stores of wealth. Most people readily associate gold's distinctive color with wealth, and consider the color of gold beautiful. King Midas of mythology, who could turn everything he touched into gold, had the first fatal case of “gold fever,” the frantic need to seek and hoard gold."


David de Souza presents The Inland Revenue posted at UK Tax Blog, saying, "An interesting article outlining the history of the Inland Revenue and taxation in the UK, dating back to the Roman invasion."


Abbott Efrain presents Fast Cash Loans For The Fastidious! posted at Cheap Payday Loan Blog, saying, "The payday loan industry is popular today this is because it recognizes the need of people.It understands that not everyone wants a big loan or has the time to wait for the advance to get approved."


Daniel M. Wood presents Here is a Method That is Helping People All Over The World to Accomplish Their Goals posted at Looking to Business, saying, "Knowing you goals, knowing where you are going and what you want to achieve makes a huge difference in your life. It gives you lots of motivation, it helps you focus all your efforts towards your goals and moves you towards your goals in a much faster pace."


Rick Todd presents Is retiring abroad actually cheaper? posted at Expat Investing.


Two Becomes One presents Debt Consolidation Company: How To Make The Right Choice « Debt Relief Blog posted at Debt Consolidation Company: How To Make The Right Choice, saying, "Paying off debt is a back breaking exercise. It works like a domino; debt begetting more debt until the entire financial edifice crumbles."


Aileen Black presents Debt Consolidation Company: How To Make The Right Choice « Debt Relief Blog posted at Debt Consolidation Company: How To Make The Right Choice, saying, "Paying off debt is a back breaking exercise. It works like a domino; debt begetting more debt until the entire financial edifice crumbles."


That concludes this edition. Submit your blog article to the next edition of financial independence using our
carnival submission form. Past posts and future hosts can be found on our

blog carnival index page.

Share
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Technorati tags:

financial independence, blog carnival.

The most important money advice

There is only one rule that should direct your personal finances. If you are able to understand and apply this rule you have mastered all that you need to achieve financial independence.

The rule is:

FINANCIAL INDEPENDENCE = PASSIVE  INCOME - EXPENSES

If you are able to earn passive income and spend less than you earn you are not only financially independent but you are also wealthy.

You probably have seen this formula before in terms of cash flow. To manage your cash flow well you need to spend less than you earn.

The challenge in becoming financially independent is how to earn passive income.

Passive income can be simply defined as money that you earn without working for it. There is a very famous author in the personal finances space that says that you have to setup several streams of passive income to minimise your risks and increase your potential for income. In other words, don't put all of your income eggs in one basket.

But how exactly can you earn passive income? A basic list of potential sources of passive income follows:

 - Rental property

 - Shares and bonds

 - Businesses

 - Royalties (on inventions or artistic work)

The list above is by no means complete. Have a quick look on the internet and you can find many sources of passive income.

Earning passive income is the hardest item in the formula. Nevertheless many people struggle with the second component, spending.

Spending less than you earn is essential. In some ways it is so basic that it goes without saying it. Nevertheless, our society is impregnated with credit card debt, individuals and organisations filing for bankruptcy. So maybe is not that simple.

If you really want to achieve financial independence, you must spend less than what you earn. Even if you have passive income you still have to spend less than what you earn.

The last component in the formula is FINANCIAL INDEPENDENCE.

Financial Independence should be your ultimate goal. Being financially independent means that you have enough passive income to cover your expenses. Once the passive income is setup, you don't have to work for it. In addition, if you have more passive income than what you spend then you are financial independent.

Investing in shares - learning from the financial press

In this article, we discuss how to read the financial newspapers and look at other areas of the media that can provide you with information on share market investment.

The financial press in Australia, and any other country, is a very important and influential source of information in many sectors of the community. Investors rely on it for information about how their shares are performing, stockbrokers read it to see what else is happening in the sharemarket, politicians read it to see how their policies are affecting the market (and in turn, the economy) and business people in general read it to see how their companies are perceived and how other companies are performing.

It is a quick and relatively cheap way for investors to discover what the professionals in the finance industry are thinking and doing each day, and to keep an eye on their investments.

Most newspapers have a range of financial stories in their general news section. However, the majority of stories relating to listed companies will appear in a special finance section of the paper, usually titled 'Business', 'Finance' or 'Money'.

Always remember the financial press is a source of both facts and opinions. Facts are derived from official announcements made by companies, governments, other organisations as well as from the publication's own researchers. Opinions are usually expressed in special columns by regular writers, cartoons and feature stories by guest writers or journalists. Guest writers may include politicians, stockbrokers, advisers or other prominent industry figures.

The newspapers and other publications you select to help keep you informed will depend on your budget and your particular interests and preferences. Are you seeking to achieve a local perspective or a national overview? Do you want brief or detailed information? The answers to these questions will help you to choose publications that are most appropriate for you.

There is also a wealth of specialist finance magazines. Again these are aimed at a range of different markets so spend time to read through a variety of them to find the one that is suitable for you.

Can I base my investment decisions on share market tables?

It is preferable not to. The sharemarket tables in the newspaper contain a lot of useful information, however, it is important to note that they only contain historical figures.

For example, Company X might be showing a dividend yield of 20 per cent. But a chat with your stockbroker may reveal that although last year's dividend was 20 cents, the shares are now trading at $1.00 and brokers are forecasting this year's dividend will be 3 cents - providing a yield of only 3 percent.

Your stockbroker may be able to provide you with very useful forecasts for the future performance of individual companies.

Annual reports

There are numerous facts you should know about a company before you invest in it. What does the company do? Who are the directors and what is their business experience? How is the company currently performing? What are its prospects?

The financial statements included in annual reports are a valuable source of the information you will require to answer these questions. Analysts in stockbroking firms, merchant banks, investment companies and financial institutions rely on them to make major investment recommendations for their organisations.

The contents of most annual reports can be divided into 3 general areas:
   1. Background and highlights,

   2. Review of operations, divisional activities and human resources:

   3. Financial Statements

The content and form of financial statements for public companies which is used for this purpose is prescribed and controlled by:
   • Corporations Law

   • Listing Rules

   • Approved accounting standards (which have the force of law)

   • Statements of accounting concepts, and

   • Accounting Standards.

In summary, there is a wealth of information available to guide the investor to make informed decisions for investing in an organisation.

This article is based on the ASX share course, 2008.

The science of getting rich - acting in a certain way

"You must give every man more in use value than he gives you in cash value."

We continue in our journey to look at the timeless advice contained in the book "Science of Getting Rich"  by Wallace D. Wattles.

This article is based on the chapter of the book where Mr Wattles teaches us to act in a certain way that will take us closer to our financial objectives.

Mr Wattles says that if your dreams are firmly impressed upon your mind, if you use your will power in the right way, if you have an attitude of gratitude, if you give to every person more than you take from them and you act in a certain way you will attract your dreams and the what you want to achieve will come to you.

You must not interpret his words as mere dreaming without no action. What he means is that you need your mind set in a way that will continually motivate you. The road to riches, financial independence or whatever it si that you want to achieve is not easy so you need to remain positive.

Those advices are followed by some concrete actions that you can take today that will take you further in your road to wealth. The first one is giving everyone more in use value than he gives you in cash value. This means that you are doing your very best to serve your customers and to deliver value to them. Your customers, which can be your employer, needs to have the impression of more use value than in cash value that he gives you.

I have used this advice and it worked wonders in my life and it continues to work. To find out more how this advice has literally changed my life  click here.

The nest advice is to act in a certain way that will take you closer to achieving your dreams. But exactly are you meant to act?

Do not bother as to whether yesterday’s work was well done or ill done, do today’s work well. Do not try to do tomorrow’s work now, there will be plenty of time to do that when you get to it.

Do not wait for a change of environment, before you act, get a change of environment by action. Cause your environment to change. You can so act upon the environment in which you are now, as to cause yourself to be transferred to a better environment.

Hold the vision of yourself in the right business, with the purpose to get into it and the faith that

you will get into it and are getting into it, but ACT in your present business. Use your present business

as the means of getting a better one, and use your present environment as the means of getting into a

better one. Your action, if performed in the certain way, will cause you to move toward the business.

Hold the vision of yourself in the job you want while you ACT with faith and purpose on the job

you have, and you will certainly move into a better job.

Do the best that you can do today, don't wait for tomorrow.

If you want to start investing in shares, do so today. If you to learn how to manage your finances, start today. If you in debt and want to get out of it, start today. Don't stay where you are, use your mind and will power to motivate you to move towards your dreams and act today in a way that will take you closer to your financial dreams.