A simple fix for the economy?

Another way to financial independence is to spend less.

"The disease," says Peter Schiff, President, Euro Pacific Capital, "is all this debt-financed consumption." The cure is "stop consuming so much..."

I agree with Peter Schiff. It know it's true for me as an individual, and it's true for the U.S. Government. The feds are just doing what we're doing - borrowing like crazy. Who else is ready to stop doing that as a life style?

Jargon watch: Anything we buy on credit is "debt-financed".

For me, most of my income right now (and it's not small) goes to pay bills. What else is a bill but a thing to pay each month for a purchase I made? On credit?

That's why I'm a well-dressed slave...Just like the U.S. Government. There's lots and lots of money being spent, but most of it is borrowed, and all that comes in goes to service the debt, aka pay the bills.

What about you? Why do you keep your job? Nearly everyone says, "To pay the bills."

Why do you want a business of your own? Isn't it to pay off all the bills and be "financially free"? Free from the debt-financed burdens we put on our own backs in the past.

Isn't another solution to financial independence to just spend less?

For myself, I've decided to:

stop getting into any more debt to buy stuff. ANY stuff, including money-making programs, on which I've spent thousands and thousands. It's a debit card or I'm not buying.

I'm taking conscious steps to get out of the debt I'm in so I enjoy what I earn, more.

NOT easy. But I'm not alone.

To be accountable to my cohorts, readers and to myself, I've set up my 5 and 5 wealth and give accounts. So have a bunch of my friends. See here. It's already changed things for some of us because we are now accountable - to each other.

I'm hoping that a group of us doing these hard things together will make it more fun and more likely to sustain itself for the 90 day experiment.

NOTE: 55 spots left in the 5 and 5 wealth program right now. No charge. Just a chance to make a change and be accountable to seeing it through. If the experiment works, we'll do it up big time - for the tens of thousands of folks who feel the need to make this kind of change - from the inside out.

P.S. China, which buys most of the U.S. debt (lends us billions, that is) said today:

"The US spends tomorrow's money today. We Chinese spend today's money tomorrow. That's why we have this financial crisis."

Yet the consequences are not symmetric.

"He who goes borrowing, goes sorrowing," said China's Mr Cheng.

It was a quote from US founding father Benjamin Franklin. See here.

I am a well-dressed slave

So I was reminded by Dan Kennedy today. Here's the sad story...

I have debt. Bills. How much of your life - like mine - revolves around what you have to do to pay your bills? Here are two ways to get rid of your bills:

1. Earn your way clear of them (something I have tried to do for 20+ years).

2. Reduce your debt and change the old "I want I want I want" attitude.

I'm fully engaged in #2, having so far failed long term at #1.

What's your story? You a well-dressed [or SUV driving/whatever] slave too?

P.S. I made my first change: I've set up my 5 and 5 money control account and report five days a week, here. There are a bunch of us and you're welcome to join us and start anew. Today.

It's never too late as long as you're above ground.

The Number One Complaint...

According to Dan Kennedy, here's the number one complaint everybody has about the companies and people they do business with, get mad at and stop buying from:

The vendor (seller or their company) doesn't keep their promises.

Say what you will do and do what you say. That alone is a great wealth attractant. Word spreads because you are so rare.

My First Report for the 90-Day Wealth Attraction Experiment.

Here's how to play in the 90-day Wealth Attraction Experiment. (Might want to print this out.)

1. In the 5 and 5 Wealth (http://5and5wealth.com (open window WIDE enough so you can see "Friday" in the center right area)

• Lift eyes to right rail (Members Area) and click REGISTER.You do this ONE TIME.

• Enter that info. INCLUDE a user name or it won't work. The system ONLY displays the first letter of your first name on the public page. See the other names? Your email contact info will NOT be made public.

• Hit SUBMIT on the bottom.

• Either a)wait for the email from 5and5Wealth or b)go to the site directly here (http://my5and5.com)

• Log in (right rail)

• Go to UPDATE REPORT at the very top left of the page.

• Update your info - each day if u want. We started the week of August 31.

Whatever day you transferred money (online is ok) into the Wealth Account, check that ($ icon). Whatever day you did it for the Give Account (present icon) check that.

You can update (and check on your cohorts) each day. LOG IN, and click on UPDATE REPORT at top left of page. Enter data and hit "submit".

The idea: you actually physically (online) transfer the 5 and 5% whenever you get money and put it into your bank account. Daily, once a week, whatever. For 90 days. That's the experiment.

Have fun! Who will be in the first 10? (We have space for ya...so come on over.)

"I'm doing everything! But I'm still losing money!"

Chasing the wrong numbers?

Build your list! Get more friends! More page impressions! More visitors! More Twitter followers!

Have you, like Lulu, been faithfully buying the gurus' admonitions and learning (and spending) how to increase those numbers?

And you're still not making more than you spend?

If (whatever) list is not comprised of people who will spend money on what you market, you're basically doing a public service. And getting some personal satisfaction writing, perhaps.

That's great, but did you set out to run a charity?

They have the SAME problem in the tech industry. More here.

Business goal: Make more money than you spend. OMG I like. You?

Of course you have to give yourself time to get there. But what will be your interim goals?

-List and friend counts? Or
-A few people carefully sought out who really WANT what you have and share the same values you do?

You might only have 10 genuine and engaged folks on your list. But if they're all buyers and share the same worldview, isn't if more fun writing for them than trying to convince 1000 people on your list how great your product is, each time you post?

How do you fix this?

My advice: get expert status in an area of your business. Then market that to those who have a problem that you, the expert can solve. Like weight loss with a certain approach, or earning income from home, with a certain angle. The approach or angle will be where you build up your expert status. Those who want that problem resolved your way will be waiting in line to be your paying customers. No. Fans. They'll be your fans.

If you already ARE an expert in an area of your business, start asking for people who have the problem you have a fix for, and describe your approach or values. E.g. weight loss without processed foods. Do not pretend to have "the" weight loss approach for everyone. No one does. You'll turn into a preacher then. And who likes to be preached at? So find your own kind. They're there. Ask and you shall...

P.S. This will probably cause some readers to unsubscribe, but here it is anyway. A girl has to earn a living somehow.

I'm setting up an experiment with Dr. Heidi's ER weight loss/eating program - to test how her (self-attained, btw) expert status in nutrition and fat burn, and her specific approach, might turn into a network of online ER eating schools across the U.S. It will be a hybrid affiliate/franchise model. If you'd like to stay in the loop, email me here.

How to become an expert in one step (repeated)

Wouldn't you rather get help from an expert when you have a problem?

Expert status is very magnetic. So writes Dan Kennedy in his book, No B.S. Guide to Wealth Attraction for Entrepreneurs.

"Everybody prefers dealing with an expert if and when they can. If you suffer from blinding headaches, and you can get to the doctor who wrote 'The Official Guide to Drug-Free Headache Relief', who has a newspaper column about headaches you've seen, and who's on the radio, you would rather go see him about your problem than any other "ordinary" doctor..."

Apply this to your network marketing business. Whether you focus on what the product has done for you, or the business opp - your prospect too, prefers an expert.

After all, you're offering to show them how to lose weight or how to make money, right? Wouldn't you want someone you seek out for those things to have done more than sign a $25 application and attended a company few rallies?

The good news: Having expert status is self-created, writes Kennedy.

Kennedy learned it from Earl Nightingale:

"You can make yourself a world class expert in most fields simply by studying every available resource for an hour a day for just a year."

Dan Kennedy made himself into a top expert in the field of direct marketing - entirely through self study, with no academic or experience qualifications whatsoever - in less than three years. And he began charging high fees from the very beginning. (p66-7). Because now he had expert status (compared to his clients).

Now you: What area of your business do you want to get your expert status in?

My 90-Day Experiment: Act Wealthy to Attract Wealth?!

We will take 100. Sign up to play here.

Will ten of you do something with me each day for 90 days? No promises.

Three days ago, I made a commitment to do two small things each day for 90 days. Two things that I have learned all (extremely) wealthy people do. Since these two things don't require buying anything, it was easy to say yes. Well, sort of. See below.

I am now on day four. I've observed a 30% increase in income for day one and day three, and 50% for day two. My skeptical brain says that's just too soon and too good to be connected to this new practice, so I'll monitor each day and update you every ten days or so.

First let me tell you what this is not: it's not the "fake it till you make it" pretend lifestyle. You know, those who beg borrow or steal so they look good in front of the room - to entice the unsuspecting new prospects who want that also.

Most of the fakers end up bankrupt. So this is NOT that.

I'm doing two things.

1. Create a Wealth Account - 5%. (Yes, this is obvious but I've never done it.)

Three nights ago, I set up a separate bank account, named Wealth Account. Each day that money comes in from any source I put 5% into that wealth account. Literally. On the day anything comes into my bank account, I sit down and transfer 5% into this new Wealth Account. I've done that now three days in a row. There's a tiny stash in the WA now.

2. Create a Give Account - 5%. (I have only given sporadically over the years.)

Confession: My brain IMMEDIATELY RESISTED this.) Only after I realized it would be a small amount, and that all wealthy people do it, did I cave. OK, for 90 days I'll do it. After all, the money is still in MY bank account, right?

So that same night, I set up a Give Account. I also set that at 5%. I've put 5% into it each day from my online businesses. It has a tiny stash now too, same as the WA.

Is your brain going, Hey! I need every dime I take in to cover my bills and I can barely do it now! Are you NUTS??? I should GIVE IT AWAY?

And then I realized the secret: talk is cheap (yes, including daily affirmations). Doing is what controls your psyche, and the aura others sense coming from you.

When you sit in front of your computer and physically transfer 5% of whatever comes into your hands or account into your Give Account (without expecting anything in return), your brain thinks you must not be needy. And it takes on a new attitude.

That daily practice (or weekly or however often money comes into your hands or bank account) keeps right on sending signals to your brain - and right through your body to others - that you are not desperate or needy.

In a negotiating session who has the upper hand? The one who needs it desperately or the one who can do without it?

I don't know what will happen over the next 90 days, but I'll keep you posted. So far:

Today is day four. I've observed a 30% increase in income for day one and day three, and 50% for day two. My skeptical brain says that's just too soon and too good to be connected to this new practice, so I'll monitor each day and update you every ten days or so.

Will ten of you do this with me just to see what happens? You don't need to believe it will do anything at all for it to have an affect. Just DO IT with me for 90 days and we'll report to the world.

Comment below - no user name or password necessary. Put your email so we can connect. I might set up a separate web page for this experiment so we can see what happens.

P.S. I am HAVE setting up a special page to enter track the results here. You coming? We will accept first 100 who want to commit to this experiment with us. The more the merrier.