Thursday, 21 May 2009

Walking the street money

When I was beginning my journey to wealth, a rich accountant friend of mine, told me I should always walk around with hundreds of pounds of real money in my pocket, in order to attract wealth. It's a good idea, but I do not want to lose that money if I get robbed, go on a spending spree, or lose my wallet. I decided to carry monopoly money instead, and I now routinely walk the street with millions of pounds of monopoly money in my pocket! I see it as my good luck charm. All the benefits of a wealthy mentality, without the downside of potentially losing it.

When it comes to really spending money, I never walk the streets with my credit or debit cards on my person, as I know I will spend the money somehow. I always say to myself: "do not put temptation in the way of the lion". This way, I am forced to think my purchases through, as if I haven't planned it, I have to go home and get the real money, by which time I have usually changed my mind.

Multi millionaire businessman Theo Paphitis says he always likes to have "walking the street money" on him. Millionaire businessman Bill Zanker said in the book "Think Big", which he co-wrote with Donald Trump, that whenever he met with Donald Trump, he felt financially insecure, so he would carry lots of money in his pocket to remind himself that he was wealthy.

Walking the street with a vast amount of money in your pocket is a radical idea, maybe you might want to try it and see how it works for you. However much money you carry in your pocket, the biggest temptation is to resist spending it.

Books I'm currently reading (I borrowed these books from my local library):
  1. The Money Secret - by Rob Parsons (So far this book is a nice fantasy story about becoming financially proficient. It is a great book for beginners who may feel daunted about starting to take charge of their finances for the first time).
  2. The property Investors Management Handbook - By David Watson (This is a nice small book with up to date facts since 2008, which may throw up good ideas about property investing)

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Straight from the horses mouth