Training In Power Academy
by Juli Butler, Education Director
Are you richer than you could have ever imagined possible? Very few people, especially women can answer that question with a resounding “Yes!”. Why is that?
What stops us from creating huge wealth? Why is 97%of the world’s wealth controlled by 3% of the world’s people? What do most people settle for jobs they don’t like, mediocre pay, long hours away from their loved ones?
I call it the poverty consciousness or the poverty mentality. We see it everywhere, not just with money. People don’t’ feel like they have enough love, so they test and challenge their partners to “prove” they love them. People don’t feel like there is enough food, so they over eat. People don’t feel like they’re good enough or smart enough or have enough, so they steal, whether it’s energy or matter.
By doing these exercises, you may be able to shift your perspective around money. You could be able to de-mystify money and wealth building. And discover what holds you back from wealth, your own blocks to manifestation and learn how to remove them. And finally, you’ll have concrete ideas and next steps to start building wealth for yourself.
What if spiritual people, people with integrity, that sense of empowerment, seeking growth and enlightenment, seeking to always grow and become a better person and do what’s right. People filled with compassion and a sense of higher calling or mission, or purpose, what if people like this really embraced wealth? Most ‘spiritual organizations’ struggle financially. We’re almost appalled if they make a lot of money.
Ask yourself this question and journal your answers: How would you make an impact if you had unlimited money to work with?
Write out what you think is your current level of knowledge around money and wealth building.
To elevate your financial IQ you must know what you want. Financial education is a process of where you come from to where you want to go. Our past colors our view of money. If one knows where they want to go financially, that determines the level of financial education one need. The need for education is much different for a person who wants to learn to buy real estate versus someone who is interested in working for a large company.
Write out where you come from in terms of financial education. Is your family wealthy, poor, middle-class? Were you taught about money growing up? Did your parents fight about money when you were a child? Keep adding to your list to unpack your core beliefs around money.
How many classes in school did you have about making and managing money? Not too many if any! Our education system really doesn’t teach financial literacy. How do you feel talking about money? What emotions come up?
The place to start is with financial literacy. This will take a lot of the mystery out of money by increasing your knowledge, which will increase your confidence.
Lesson 1: Active vs Passive income
Active Income is income such as one’s salary. You are trading time for money. Passive income is from investments such as real estate, stocks and such. You receive income on a regular basis that is not tied to your time. In order to build wealth, you need some form of passive income.
Assets vs Liabilities
Assets are things that put money in your pocket such as rental property, retirement funds, stocks, business income.
Liabilities take money out of your pocket. Your car, clothes, your personal residence.
Understanding the dynamics of income and expense is critical to cash flow management. People who cannot control their cash flow work for others; people who can control their cash flow work for themselves or have others work for them.
Sometimes there is an unnecessary and sometimes unexpected expense or item you purchase that does not put money in your pocket. It may be a boat, vacation, new pair of sunglasses, meal at a restaurant. They can slowly and inexorably deplete your income or they can be incentives to make more. For example, say you want some new clothes or a vacation. But you’re determined not to put it on a credit card. You may figure out a way to purchase a new asset that will generate the cash flow to pay for your holiday, or your clothes.
The key is create multiple streams of income. They could come from investments in the stock market or real estate, entertainment, becoming an influencer, starting a business. There are many ways to add a stream of income. Find the right education to help you get started! Then Get Rich, Do Good, and Change the World.
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