Do you have the self discipline for Financial Freedom

For the the last ten years I have been helping people understanding the problems with their finances. I find it amazing at the level of debt most people are carrying. And it;s not just the poor and middle class, even some of the richer people have leveraged debt to the hilt. Most everyone is renting their life style, if they can work the monthly payment into what they have coming in they will do it.

I used to counsel people that if they would just tighten up a bit, they could pay off all their debts in a few year. The trouble was, people did not want to sacrifice the little things, they did not get the sense of satisfaction on paying off a credit card versus buying a tv with the card instead. There did not seem to be a positive reinforcement to pay off bills, when they are getting all these advertisements that they will be so much happier with a new car or a bigger house.

I think we should take the word SACRIFICE out of the dictionaries in the United States, because we do not know what it means, and we definitely don't know what Self Sacrifice is.

That's why I have decided to promote the concept of B-MIS (Build Multiple Income Streams), instead of asking people to scrip and save and pay off their debt's, instead let's increase and secure their income, then they can start paying off their debts with the excess. Using B-MIS we can secure the income coming in, so that if we lose a job, we have another income stream to help replace it. B-MIS puts us on the track to Financial Freedom, on of the concepts of B-MIS is to use the additional income to pay off debts, which increases the value of the income stream. I will go into this concept in my next Blog entry.