Develop Your Financial IQ

 it is finished. Even if the milk costs less than a cow, in the long run, you will 
still be buying milk again and again. 
Now, if a cow were to cost 50 times more than milk, you might pay through your nose 
when you purchase the cow, but after consuming 50 pints worth of milk from the cow, 
you would break even on your investment and save more money in the future. In fact, 
the cow might give birth to 2 or more calves and you could sell one of them for profit! 
Get the idea? 
EVERYONE is capable of creating wealth. When you take a beat up old car and give it 
an overhaul, paint it with a new coat of paint, and change a few more parts to make it 
start running again, you could sell that car for more money than if it was just a beat up 
old car. You would have created wealth in the process! 
How about a farm? If you turn a farm into a country home getaway resort, wouldn’t the 
value of the farm land increase manifold? 
It is the same principle for chefs, computer programmers and craftsmen. The sum of the 
whole is greater than the parts. We are all capable of creating wealth even out of thin air 
and that is the first step to getting our creative juices flowing. 
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The value of anything is defined by supply and demand. 
You don’t need to be a Major in economics to understand this. Money is just an idea. 
Remember the desert island example? The true measurement of money is not the cents 
or dollars it represents. 
If you have developed a product that people want, would they pay more to you than 
usual? Would you apply your skills in creating good assets? 
Bottom-line is this: 
Invest in assets that bring long term value. Anything that brings you more income is an 
asset. Don’t invest too much in liabilities like cars or boats. 
Even houses are not considered assets until they are fully paid off (If you lost your job 
tomorrow and you can’t pay for your house, is your house an asset or liability?) 
Are you willing to step out of your comfort zone and pay the price for financial IQ 
or ignore the signs of the times and expect your boss, the government and the 
bank to take care of you financially for the rest of your life, living below your 
means and never taking risks to better your family’s future? 
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Chapter #4: 
How To Get Out Of A Financial Mess 
There are two methods I can recommend about getting out of a financial mess. 
Defensive Strategies 
The first one is defensive: 
Cut down what you are already spending on. You can’t start a business being in a 
financial mess. Cash Flow is more important than revenue. And you need to have lots of 
cash flow coming from your pockets if you are going to succeed. 
Here are some things you can cut down on 
• Smoking – if you can’t quit, just cut down on a few sticks 
• Alcohol – booze can drain your finances faster than a running tap 
• Night outs – spend some nights at home thinking about making more money 
• Gambling – if you plan to gamble, it is better to gamble in a business 
• Vacation and Country Clubs – you won’t die without a few memberships 
• Food – eat healthily and you can even think clearer 
• Laziness – The biggest thing that will hold you back! 
Most important of all, don’t buy anything that constitutes a liability. A liability is anything 
that takes money out of your pocket no matter what they are worth in the future. Think in 
terms of cash flow. What can I invest in today that will give me funds tomorrow? 
Now let’s move on to offensive strategies: 
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Offensive Strategies 
One of the best, low-cost ways to invest in your business skills is to join a Network 
Marketing company. There are many other options such as starting a traditional 
business or maybe even an Online Business. 
But if you want to guarantee yourself something concrete where business skills are 
concern, my take is on Network Marketing. 
Regardless of what you have heard about this industry or how much money people have 
lost there, the biggest reason why I would recommend everyone to invest in a network 
marketing company is because of what you can learn there, and not because of how 
much money you can make (although it would be fantastic if you can make a living out of 
it). 
You see, network marketing companies are the one place where people will share their 
trade secrets FREELY. It is logical because in order for your upline to succeed, they will 
want you to succeed as well! Therefore, they will not hold back in teaching you the skills 
of a business person. 
Furthermore, the relatively low cost of investing in a network marketing company will 
amaze you for what you can learn for the price you are paying (a few bottles of vitamins 
and a business kit for the experience of a lifetime!) They will patiently train you in the 
attitudes and business skills you need to succeed in this industry. 
Basically, you can’t succeed in network marketing with an employee’s mindset. A 
network marketing company will train you in sales, communication, teamwork, 
leadership, positive thinking, self-improvement, time and money investment as 
well as the support of your upline as a personal coach and mentor. I dare say that 
even if you didn’t make a cent, but diligently went through their program, the skills you 
develop will last a lifetime. 
You can also develop skills by attaching yourself to an insurance agency. The job may 
be challenging, but those companies will also teach you the same skills above and 
maybe even gain a few tips on financial planning as well. 
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How about an Internet business? If you have the aptitude for computers, Internet 
businesses offer a low cost, high-profit margin business that can earn a lot of money and 
tap into a worldwide market. 
Other places you can learn about business skills can be found at financial planning 
courses, real estate investment courses, time management courses and lots more. 
All these I have suggested will be the safest way you can start a new business. You are 
only spending a few hundred to a thousand dollars in start-up and education. A 
traditional business might be too risky for someone without any business experience. 
You invest tens of thousands of dollars and you might struggle trying to break even. But 
once you have developed the skills above, you will have a higher chance of succeeding. 
The most important thing of all besides a good learning attitude are the people you mix 
around with. 
It has been said before; you are the sum of the five people you spend the most time 
with! 
This is very hard to swallow but imagine if you start talking to your five beer drinking, 
poker buddies that you want to go out on your own and make a fortune, what would they 
tell you? They would laugh their socks off before tearing your ego into a million pieces! 
At the heart of man lies jealousy. They don’t want to see the people around them 
succeed. If you succeed, it makes them look bad. They know in their hearts that they are 
going no where yet they embrace that lifestyle and pull you down with them. They will 
steal your dream, and rob you of your financial freedom if you are not careful! 
The key point to remember is: Only mix with Positive thinking people! 
Positive thinking is not wishful thinking. A wishful thinker is a dreamer who doesn’t take 
action. Positive thinking is backed by action and you will feel the energy of people who 
believe in you and support your dreams. 
If you hang out with ducks, you will quack but if you hang out with eagles, you 
will soar! 
So start looking for people who will follow your vision or are willing to grow together with 
you. 
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Lastly, you must BELIEVE IN YOURSELF! 
The task of stepping out of your comfort zone may seem terrifying and many will not 
support your dream. They may even go on the offensive even if you don’t share your 
dream. That person may even be your parents or your spouse. 
Then you will be faced with the question, is my financial freedom worth the price I am 
paying now? Can I live another day with the same routine, the same job, the same 
paycheck or the same drudgery? If the answer is no, then take action NOW. Not 
tomorrow, you will wake up and forget about your dream. 
Write down your desire on a piece of paper and hang on tight to it everyday. Share it 
with someone positive and take that first step. 
You won’t regret it. 
To Your Financial Freedom! 
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