Newspapers and TV shows are full of gloom-and-doom statistics. Personal bankruptcies, forclosures and delinquent payments on credit cards are at an all-time high.
Statistics tell the story best. In 1984, a total of 331,264 businesses and consumers filed bankruptcy. In 2004, that total sky-rocketed to almost 2.2 million! Today, its off the chain!!
Are you facing financial hardship? Do you laugh when you hear how much money you're supposed to be stashing away for retirement? Do you wonder how you'll ever pay for your kids' college tuition?
Is there anything you can do?
The answers are easily gleaned from identifying the two primary causes of America's financial mud slide into debt: plastic cash and sluggish wages.
Cash-Without ... Live with DoubtI can tell you that being broke feels terrible. I know, because I've been there.
Put yourself in a pair of my old shoes. How would you like to have been working to rebuild your business (I lost $600,000 in a deal gone bad), $200,000 in debt, and trying to support a sick wife? Talk about sleepless nights!
In 1999, money was tight--so tight, in fact,that I couldn't afford $150 a month to pay our health insurance
premiums even with a sick wife. We lived in a beautiful 5,000 sq. ft. home in the suburbs outside of DC. I had a Jaquar convertible and was as broke as broke could be. Its hard going uphill on the "comeback trail".
Then, as if things weren't bad enough, Rosalind, had me call for an ambulance, she needed to be hospitalized. This was for real! She was later diagnosed with cancer.
I still cringe when I think of the weeks following her release from the hospital, but not because I feared for her
physical well being. God is good. It was our fiscal well-being that scared me. The medical bills kept coming . . . and coming. I put them all in a shoe box and the bills spilled into a second shoe box before the damage was done. We owed more than $200,000!
We were broke and poor, but not down and out! You see, I believed with all my heart that someday, some way, somehow, we'd have money again. And a bright future for us and the family.
I'm proud to say that I eventually made good on those bills after I succeeded in making tons of money in another business of my own.
Being Broke is a ChoiceAccording to USA Today, 40 percent--that's four out of every 10 Americans--spend more than they make! How do they do that? Can you say, "CHARGE IT"? No wonder people are broke!
Today, credit card debt has become a national epidemic. We're a nation of 265 million adults . . . with 800 million credit cards in circulation.
Now that's fine if you pay off your monthly credit card bills. But the reality is, most of us don't. We pay the minimum. The only problem is, at a 15 to 20 percent interest rate, the only ones making any headway are the credit card companies. How bad are the delinquencies? American banks were forced to charge off $2.2 billion in uncollectible loans and credit card debt during the first quarter of 1996 alone, according to the American Bankruptcy Institute.
Yet, I believe, we Americans have a choice in all this. Here's my definition of being broke.
Being broke is choosing between going deeper in debt or going without.
With 40 percent of the population living beyond their means,it's pretty obvious Americans are choosing to go deeper into debt than to live without, right? It's a sad commentary on America, the richest country in the world, that millions of us are spending ourselves into being broke!
Don't get me wrong. I'm not saying everyone should pay cash for everything. I have a mortgage and a couple of credit cards, too. What I am saying is that easy credit is a velvet pillow that can make you
comfortable . . . or can suffocate you.
Fortunately, Broke is TemporaryLook, there's no shame in being broke. The only shame is in staying broke and accepting it as a way of life. Especially if you live in America!
If you really and truly want to break the cycle of being broke, you can. Broke is a temporary situation. It's not a death sentence unless you act as your own judge and jury and condemn yourself.
Tired of being broke? Feeling pretty sorry for yourself? Well, I'm here to tell you that broke doesn't mean you're impoverished. In America, there is hope, there is an escape. I have seen poverty firsthand. I grew up in the South Bronx, back in the day, for real.
For years I saw poverty every single day . . . real unrelenting, merciless poverty. And I wouldn't wish it on my worst enemy!
An Intelligent Solution: Independence Through Free EnterpriseWhen it comes to debt, most Americans keep banging at the same window- -a sustainable, but dead-end job--rather than looking for a new opening. Did you know that today the average worker puts in nearly three more weeks at the office per year than workers did 25 years ago? Truth is, the 40-hour week has gradually turned into the 50-hour, even 60-hour week. When you factor in the increased cost of living (and increased payroll taxes), most Americans are working harder and taking home less!
"More Americans, even those who have not lost their jobs, are losing ground, according to Census figures which show that the median family income stalled 20 years ago and has held up only because more wives are working," according to a 1994 Tampa Tribune series that focused on the demise of good-paying jobs.
As I see it, you've got two choices. You can keep working harder, beating yourself to death against that invisible window called a job.
Or you can work smarter by backing away from that transparent wall and flying through the open window of free enterprise.
The Ideal BusinessLet's say you buy my argument that the only way to more freedom and independence, more happiness, and yes, more money, is to become an entrepreneur and start your own business. Let's say you're ready to begin your flight to freedom.
You could be saying to yourself: "OK, I'm totally sold! I'm ready right now! Only one question: What business should I go into?"
Good question. In my opinion, the ideal business isn't so much a business as it is a system. Let me explain.
Why is it that the local McDonald's restaurant--despite selling just OK hamburgers--makes zillions while Mom and Pop's restaurant down the street--serving the best burgers in town--is forced to close its
doors.
More often than not, the difference is the system. Mom and Pop may be great cooks but if they're disorganized, if they don't know how to market, they're destined for failure. McDonald's, on the other hand, leaves nothing to chance. It's goof-proof. A hamburger in Detroit tastes exactly like a burger in Peking, China. That's why virtually every franchise in their history makes a profit.
So, What are Your Options?You can do one of two things. Develop a system while working for someone else ... and then take that system to go on your own. Or if you don't like what you're doing at your current job, find a franchise that has a ready-made system you can follow. No question about it. For most people, buying into a franchised success system is a lot safer than making up your own system. You'll need enough money to set up the franchise and the skills to make it work.
The Alternative to Franchising"Wait a minute," you're saying. "I can't even pay my bills, so how can I even consider buying into a franchise?"
Good question. The same question I asked as I was closing the doors on my first business that made $1 million in its first year (unfortunately, it lost $1.2 million). That's when I discovered a concept called Network Marketing.
You can get started in Network Marketing for less than $500-- with the upside potential of leveraging your business into a multi-million-dollar-a-year enterprise!
As for the need to possess specialized skills in order to succeed, none are necessary. That's the beauty of it. Network Marketing offer a duplicatable system in place for you to learn and follow.
If you have a burning desire to succeed and you are coachable, you can literally start making a profit from day one.
What Do You Do When Opportunity Knocks?It's not my position to choose a business for you. However, I do feel obligated to make you aware of what's out there so you can make an intelligent, informed choice.
If you want to learn more about the concept of the Network Marketing,I suggest that you take some time to study the industry in detail.
Maybe Network Marketing is for you--or maybe it's not. One thing's for sure. You won't know until you check it out, will you? I always say a wise man investigates what a fool takes for granted. So check it out and learn how to soar.
FREE Program To OverComing Brokeness!PAID Program To OverComing Brokeness!Peace and Blessings To You!
Pete Taylor 3
Executive Director of NorthEast Atlanta, Ga
AASAP-for-SUCCESS.com
Founder & CEO
ATLCoffeeHouse.com
Healthy Alternatives To Coffees, Teas, Hot Chocolates & Energy Drinks
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