Wealth Building 101: Hope is not a Strategy

My great friend, Linda Hoover, was the first to say to me “hope is not a strategy”. She was helping me with my wayward mule, Jake. Boy was she right. I would optimistically go out each day hoping Jake to behave better than the day before. He never did. I eventually had to find a new home for him with someone who had a better strategy than I.

You see, Jake needed  big job that would keep him working hard several hours a day, something I could not give him. His new owner had the time and energy to work Jake longer and harder each day. This strategy kept Jake focused on something other than his shenanigans and he became a good working partner.

Is there something in your life that you have been hoping for without any strategy in place? How is that working out?

Wealth building 101 is no different than any other aspect of life. Hoping you have enough cash flow monthly to pay the bills won’t make it happen. Chances are without a different plan you will run out of money this month just like last month. Implementing  a strategy to change your fortune would include a plan to get rid of bad debt, increase your cash flow monthly and start investing in some assets that bring in money.

Having a strategy to make your cash flow monthly exceed your expenses won’t happen without some soul searching and personal action but the rewards will be well worth the effort. Madalyn

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