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True financial independence is achieved through the consistent implementation of well under-stood financial principles and rules, and not by the 'magic' of quick fix, feel good secret formulas. You can create all the wealth you desire for yourself and your family by adopting the mindset and the 7 Money Habits of the Wealthy.
The Money Habits are simple, they are common sense, but they are far from common. While not glamorous, the results of their use are spectacular over time! By applying these Money Habits, anyone can improve their current financial position from one of scarcity and uncertainty to one of prosperity and security.
1. Pay Yourself First
Pay Yourself First means investing your money so that it can grow for you (e.g. turning $1,000 invested at 15% compounded into $19,962 in just 20 years). The best way to Pay Yourself First is via an Automatic Investment Plan (AIP). An AIP is simply any program whereby money is withdrawn automatically and regularly from your paycheck or bank account and invested on your behalf.

2. Re-invest Your Investment Returns
Reinvesting Your Investment Returns is critical to your long-term financial success. Don't steal your financial future! Leave your AIP money alone until it has grown to where you can live off the income for the rest of your life. Compound your returns.

3. Receive Automatic Investor Rates of Return
As an Automatic Investor your objective is to earn a minimum of 12- 15% return on your investments, for the long term. The S&P 500 Index (500 of the largest companies in America) has grown an average of 14.5% for the last 45 years; over the last 20 years: 19%; and over the last 5 years, 28%! You must also spend quality time actively managing your investment portfolio (an average of 8.4 hours per month according to Stanley and Danko, authors of The Millionaire Next Door).

4. Know What Your Money is Doing
Could a public company survive if it could not account for 10-50% of its income each month? That's what most families lose every month: 10-50% of their income gone. Spent. Not sure on what, but it is gone anyway. This is because most families do not Know What Their Money Is Doing.

5. Adopt the No-Budget Budget SystemTo most people 'budget' is an ugly word. Simply stated, a budget is just a tool. It is a system used to achieve, monitor and maintain financial goals. It is not a magic wand, nor is it a slave driver's whip. It will only work as effectively as the person operating it. It is your servant.
The No-Budget Budget System I use comprises just 5 steps:
A. Automatic Investment Plan (AIP) (10% per month of gross income);
B. Debt Elimination Plan (DEP) (10% per month of gross income), to have you debt free in 3 -7 years (including car(s) and home);
C. [Optional] Charitable Giving (10% per month of gross income), as part of the responsibility and reciprocity associated with creating and being a good steward of wealth;
D. Debt Avoidance lifestyle strategies such as only paying cash and restrictions on the use of consumer credit;
E. Spending the rest as you see fit!

6. Financial Competence (Intelligence and Responsibility)
Financial Competence (Intelligence and Responsibility) consists simply of adhering to 'common sense' Money Habits in your day-to-day money decisions. Financial Competence money techniques are designed to reduce unwanted spending and enhance your ability to purchase the items you really want at substantial discounts.
7. Avoid Debt and Live Debt FreeThis consists of the following two Financially Competent practices: never using consumer credit on lender's terms; and eliminating debt by adding 10% of gross wage to minimum monthly debt payments (DEP).

I hope that this edited introduction to the 7 Money Habits of the Wealthy has given you some indication of the relatively simple Foundations used by the vast majority of wealthy individuals to create their wealth. Foundations from which the Automatic Investor can then launch themselves into achieving consistent returns on their investment of 20-100%+ year in and year out.