Multiple Sources of Income (MSI) is a technology that will permit you to multiply your present income by providing service beyond that which you are presently providing at your primary source of income. ADDITIONAL SERVICE – ADDITIONAL INCOME.
Through MSI Technology you will earn many times what you are presently earning at your primary source of income.
MSI is a concept that has been adopted by virtually all wealthy people.
Multiple Sources of Income is exactly what it says it is:
INCOME FROM MULTIPLE SOURCES
MSI is not another JOB.
MSI is not a better JOB.
MSI is not even a JOB.
 
MSIs are a way of adding a new dimension of excitement and fun to your everyday life, while you are becoming very wealthy.
An MSI is an idea with which you are in harmony.
An MSI is an idea that enables you to provide service to humanity in a lawful manner for which you will be fairly compensated. The compensation you receive from each MSI could be minimal or it could be millions of dollars per year.
An MSI should not interfere with, nor cause you to jeopardize your position at your primary source of income.
 
It’s been explained that an MSI (Multiple Source of Income) is not another job. In fact, it’s not even a job. It should be viewed as a source of income that is passive. Many people confuse creating an additional source of income for themselves as getting a part time job. Though that is one way of creating an additional source of income for yourself, it’s not one we recommend. Why? Because, you’re trading your time for money and eventually, you’ll run out of time.
Begin developing MSIs.
Set an immediate goal to have 15. Fill in the spaces provided and make this your Wheel of Fortune
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Another important point to consider when you create MSIs is: you want to focus on creating “passive” sources of income as often as possible. By passive we mean that it shouldn’t take a lot of your time or energy … it’s just something that’s there, where you receive money on a regular basis because you contributed in some way or another. Granted, there may be an initial output of time and energy to get it started and it may or may not be extensive, depending on the MSI. But, after that start up phase, it’s considered mailbox money or earning money while you sleep.
 


HerYou can get really creative with MSIs. If you’re an independent contractor – let’s say you’re a graphic artist … you could create a piece of artwork (maybe a book cover) and instead of charging your regular fee up front for the design, opt to take a percentage of the total sales and offer to design it for no upfront fees. You’ll more than recoup your investment of time … and it will be money that keeps coming to you as long as the person keeps selling their book.
Begin developing MSIs.
Set an immediate goal to have 15. Fill in the spaces provided and make this your Wheel of Fortune




tYOU DECIDE ON THE NUMBER OF MSIs YOU WILL HAVE 
If a person advances confidently in the direction of their dream and endeavors to live the life they have imagined, they will meet with success unexpected in common hours.
– Thoreau
 
HOW RICHES COME TO YOU
 
Never look at the visible supply; always look at the limitless riches in the formless substance and know that they are coming to you as fast as you can receive and use them. Nobody, by cornering the visible supply, can prevent you from getting what is yours.
– Wallace D. Wattles
 

We all have experienced the “drip-drip-drip” of a leaky faucet. It’s not only annoying, but if left unattended, it could add up to thousands of gallons of wasted water and a very large water bill. Individually each water droplet that is wasted is a fraction of a penny, but over time the pennies will add up to dollars. Many of our everyday purchases are also causing a drip on our finances. Some of it is due to poor money management and others are due to our lack of attention to detail. At times it can be difficult to detect financial leaks, but with some proper tools, you will be equipped to fix the financial “drip-drip-drip”.

The average smart phone owner uses 256 MB of data each month but pays for 10 GB. With a simple review of your usage, you could significantly save on your plan every month.

Check your auto insurance policy every year. Most auto insurance policy holders renew their plan with their current company each year without investigating the competition. Family needs change each year, and switching plans  could reduce your monthly bill.

Use a programmable thermostat. If you don’t currently have a programmable thermostat in your home, get one. You can purchase a moderately priced model for about $40. If you already have one, make sure you’re taking full advantage of its features – some models allow you to program a different temperature for different days of the week. On average, every degree you raise your thermostat in the summer or lower it in the winter saves 2% on your energy bill.

Eliminate your Home Telephone line. As long as you have a reliable Internet connection and at least one cell phone in your home, you can save big by eliminating traditional land line service. Products like MagicJack connect a land line to your personal computer via USB, so you can still have the comfort of speaking on a telephone without shelling out the big bucks. Skype is also a convenient (and for most calls, free) alternative to a land line.

Make a grocery list. American families throw away about 25% of all the food and beverages they purchase when they do not have a shopping list. Buy what you need, use what you have, and make less if you don’t like leftovers.
Take some time and do your research. With some minor adjustments, your financial drip will be fixed.  

Contact Tom to help stop the drips in your budget.

College is the first taste of financial independence for many young adults. For the first time they may be paying their own bills, deciding how to spend their money and managing debt.

Unfortunately, college students don't always make the best decisions. "We've found that the average college student does not come equipped with the information they need to manage their money successfully," says Jacki Brossman-Ashorn, director of the Student Money Management Center at Sam Houston State University in Texas.

That's why it's crucial to discuss personal finance with college-bound kids. Here are seven money-management tips:

• Understand student loans. Impress on your kids that these loans are not "free money." They need to know that student loans must be paid back with interest and how large these loan payments will be. That knowledge can persuade students not to spend borrowed funds frivolously.
  
• Use debit cards, not credit cards. Talk to college students about having a debit card attached to a checking account with no overdraft protection. That way, they can spend only money they actually have. In fact, new regulations prevent students under 21 from getting a credit card unless they have a job or have their parents cosign the account. Think carefully before cosigning for your child's card -- their mistakes could hurt your credit rating.
  
• Create a budget. What's the root of most student financial problems? "It boils down to spending more than they have coming in," says Brossman-Ashorn. The solution: Establish a budget that outlines sources of income (jobs, student loans, parent contributions) and necessary monthly expenditures (cell phone bills, food, books). What's left after paying for those needs is the amount they can spend on their "wants," like concert tickets or take-out meals.
  
• Track all expenses. Financial websites and smartphone apps make it easier than ever to track cash expenditures. Students should record all their purchases, even seemingly insignificant ones. They'll see the impact that little things like a late-night pizza can have on a budget.
  
• Leave the car behind. Unless students absolutely need a car on campus, they're often better off walking, biking or using public transportation during the school year. Forgoing a car saves on gas, maintenance and campus parking fees.
  
• Eat cheaper. Campus meal plans or cooking at home (for off-campus dwellers) are much cheaper than eating out. If they have a meal plan, make sure they use it. Paying extra for a meal that could have been eaten on campus can drain spending money fast.
  
• Shop smarter. Exhort your student to stay alert for ways to save. Textbooks alone can cost about $1,000 a year, but students can slash that amount in half or more by shopping online, purchasing used books or even renting them. Student discounts also are available on everything from movie tickets to bus fare, so encourage your kids to take advantage of them.
  
• If you haven't already taught your kids the fundamentals of money management, the transition to college is a great time to start. You can instill habits that will help keep them out of money trouble while on campus – and put them on the right financial path as they enter adulthood.
  

180 Degree Financial Coaching
College Student Coaching
Contact:  tom@180degreefinancialcoaching.com

“Putting Knowledge Into Action”

Goal Setting Principles That Work

5 Steps to Goal Setting

Keep in mind:  Two reasons people do not complete goals.

·         Stuff will happen, such as major illness, car accidents, job loss, death of spouse and the list goes on.  The average person will have 1 major event in any 10yr period.  So the importance of an Emergency Fund becomes a major part of your goal planning.  The key is how you react to serious setbacks.  Do not let them make you a victim.
·         Procrastination or Doing Nothing.  You control the variables.  The decisions you make today will control your outcome.   Create and implement  new  Intentional Disciplines.

The 7 Goals

·         Physical

·         Intellectual

·         Career

·         Social

·         Financial

·         Family

·         Spiritual

The 5 Steps for having a successful goal plan

·         Specific:  i.e. I want to Lose 20 pounds, not I want to lose weight.  I will have 3 months of expenses in emergency fund; know the exact amount i.e. $9000.

·         Measurable:  You can track the goal.  The budget will show you the reality of where you are in your goals setting and success.

·         Time Limit:  I will lose the 20 pounds by a specific time or I will have my emergency fund completely funded by a specific date, I will be out of debt by specific date.

·         Your Goal:  Can’t be someone else’s goal.  You will not lose the 20 pounds because someone else wants you to lose the 20 pounds.  You will not get out of debt because your coach wants you out of debt.  It has to be your desire and passion.

·         Written:  Those that accomplish goals have a written plan.  That is reviewed frequently.  Those that accelerate their goals read them daily and make adjustments when necessary.  Seek council before making life changing decisions.

“Putting Knowledge Into Action”

Keys to Success are the decisions you make:

Ask the question:   Will this decision I am about to make going to move me towards my goal or away from my goal? 

Procrastination is the number one reason that kill goals.  I will get to it tomorrow, which leads into next week to next year.  Do it now!

Word of Wisdom:  Wise men gather council!   ~ paraphrased from Moses the wisest man to ever live.

Build your team of like minded people.  The journey will be light.  Ask for council from those that have the wisdom to show you how to put “ Knowledge into Action”

Planning for the future is often difficult when the present moment is just so busy, especially for small business owners who never have a minute to spare. Indeed, according to a recent survey by TD Bank, nearly half of small business owners polled had no retirement plan in place (source: Entrepreneur). But without the steady security of a built-in pension or 401(k) employer match, planning for retirement needs to come first. Follow these 4 tips to make your future a priority, today.

Prepare for risk.
True, most entrepreneurs are optimists at heart. But you have to think about worst case scenarios to better assess risk and prepare your business (and yourself) for some of life’s hardships, such as injury, illness, death, and so on.

If ever there comes a time when you can’t helm this ship, what would you like to happen to your business? Do you want to sell it? Do you want to pass it on to someone else, such as your child? How much and how to save for retirement will depend on the answer to these questions. Of course, you’ll have to take action to make sure all the legal formalities are in place should you ever step away for whatever reason.

Meet with a financial adviser.
An accountant or financial planner can help you make more informed decisions about your money, including savings, taxes, and investments. Once you know what you want, a financial planner can tell you how to make that happen. It’s just smart to get an expert to weigh in on these matters, especially if the finance side of the business isn’t your strong suit. If you don’t want to meet a financial adviser, at least take stock of what’s happening.

Start saving as soon as possible.
Ideally, you started socking away savings for retirement as a young person. Realistically, you probably didn’t. Most people don’t, unless an employer is matching a 401(k) plan and there’s a pension on the table. In general, entrepreneurs are on their own. Whether you see a financial planner or not, you need to decide how to save for retirement. You have many options, including simple, SEP, traditional, and Roth IRAs or regular or solo 401(k)s. Each has its pros and cons, and with a little research you can find the one that is the best fit for you.

Grow your business.
Having a healthy business that is growing in stature and bottom line is a surefire way to be retirement ready. It will mean more money for the business, its employees, and you. It will increase its value should you ever decide to sell. While you might be tempted to keep putting money back into the business, especially in its infancy, consider paying yourself from the start. This way, you can build up savings well in advance of retirement. And that far-away day won’t catch you off guard.

How are you planning for the future? Let us know in the comments below.

Being a financial coach, many of my clients are looking for a quick fix or the magic pill to meet a particular financial goal or solution.   The reality is there is no quick fix or magic pill to get you on the path of financial success.

Here are 5 Keys to having a successful plan. 

1. Having a budget. Your income is the most important asset you have. Without knowing where every dollar goes you will never get a handle on the financial success formula.Budgeting is about cash flow management; where can I create money to save, and where can I find ways to reduce or eliminate unnecessary expenses?
2. Having an emergency fund. Without 3 to 6 months expenses to cover the inevitable (Murphy’s Law); it is not a matter of what but when will it occur. By not having an adequate emergency fund, most people resort to using credit cards, borrowing against 401K’s, liquidating retirement accounts; all of which having devastating impact on your ability to win financially. High interest rates, tax penalties are a couple of immediate negative consequences.
3. Staying out of Debt. Having debt is the most devastating of all financial decisions one makes. Debt robs you of hundreds of thousands of dollars of your future income. Debt keeps you always broke. Debt is the number one reason for divorce. Debt also creates stress that ultimately causes chronic health issues.
4. Right types of Investments or savings strategies. Many people invest in insurance products such as Cash Value (whole life), annuities, universal policies. Insurance products are the most devastating product you can own for creating financial security and long term wealth.If you have any of these types of insurances it would be to your advantage to explore the solutions that will provide for better protection and better returns than insurance products.
5. Discipline is the most important quality you have to win financially; have a plan and work it. The number one reason people become financially independent is that they save regularly.It is not about saving a lot money or receiving high rates of return, it is about the discipline.
6. 
   

Contact Tom for a FREE 30 Minute Consultation on the above topics.

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tom@180DegreeFinancialCoaching.com


608-219-8592