Wingonomics – The Psychology of Money

Wingonomics – The Psychology of Money Mark A. Wingo Copyright 2010 by New Beginning Financial Group, LLC Smashwords Edition Wingonomics The Psychology of Money Wingonomics e-book series – The Psychology of Money By Mark Wingo Financial Expert | Author | Speaker | Entrepreneur | Fundamental Strategist © 2011. New Beginning Financial Group, LLC. All rights reserved. No part of this work may be reproduced in any form, or by any means whatsoever, without written permission from New Beginning Financial Group, LLC, except in the case of brief quotations embodied in critical articles and reviews. The Wingonomics Book Series are published in Saint Paul, Minnesota. November 2011. This book is for educational purposes only. New Beginning Financial Group, LLC, P.O. Box 251521, Woodbury, MN 55125 This publication is meant to help you manage, maintain and prosper not only financially, but in life. New Beginning Financial Group, LLC does not give legal or tax advice. Legal information is not advice. If legal or tax advice is required, the services of a competent professional should be sought. New Beginning Financial Group, LLC is not a credit repair or debt settlement/counseling company. We simple provide fundamental strategies to help you manage your finances. Table of Contents About the Author……………………………………………………………………………………………… 4 The Psychology of Money ………………………………………………………………………………… 4 Goals………………………………………………………………………………………………………………… 6 1 Financial Education ………………………………………………………………………………………….. 6 Spending ………………………………………………………………………………………………………….. 7 Past Due Bills ……………………………………………………………………………………………………. 7 Cutting Cost ……………………………………………………………………………………………………… 7 Saving For Self ………………………………………………………………………………………………….. 8 Saving for The Future ……………………………………………………………………………………….. 8 Credit ……………………………………………………………………………………………………………….. 9 Debt ………………………………………………………………………………………………………………….. 9 Acquiring Assets ……………………………………………………………………………………………….. 9 Building Points …………………………………………………………………………………………………. 11 2 About the Author Mark A. Wingo – Mr. Wingonomics™ is a financial expert, author, speaker, and on-air personality. He is also the Chairman, President and Chief Executive Officer of New Beginning Financial Group, LLC, an insurance and financial service company, he founded in 2006. His company specialties include: creating financial strategies that enables their clients to increase and protect their assets, increase their cash flow, eliminate their debt load, create a steady stream of retirement income, establish funding strategies for their children(s) college education and transfer those assets to their loved ones. With his rapidly growing online community and presence he is reaching over 4,000 existing clients and potential clients daily. Combined with his entrepreneurial spirit he has over 10 years of banking, insurance and financial service experience and his drive for financial excellence has only begun. In 2010, Mark A. Wingo created Wingonomics™ a financial literacy program to help main street America expand their realities about life and money. Wingonomics™ is a comprehensive series of financial strategies and concepts to help families and business owners manage, maintain and prosper not only financially, but in life. It’s the perfect complement to New beginning Financial Group, LLC mission to “Helping families Build Their Tomorrow Today.” Wingonomics™ was debuted in 2011 at the Union Gospel Mission – Naomi Family Residence for women, where he continues to volunteer and teach his strategies and concepts. From humble beginnings growing up in a single family home with his mother and no financial knowledge, Mr. Wingo has spent countless hours obtaining formal and informal education to better serve himself and the community. Mark has held many different positions with two of the largest financial companies in the Twin Cities over the past several years before founding New Beginning Financial Group, LLC. Since 2006, Mark has been working diligently to become a leader in the financial services industry. Today, Mark is building a financial empire and a host of other companies that will help the local community expand their realities not only financially, but in life. 3 The Psychology of Money To start off this book by saying financial freedom is available for everyone would be misrepresenting the Wingonomics message of “money is an idea, and those who are lacking money are lacking ideas”. When we are born into this world we have a mind filled with possibilities. We are taught we can do/be anything we want in the world. As we grow up in a world of negativity, we are trained to fit in to our surroundings or your fantasy of life. For some, that surrounding is a life in poverty. Most will argue that the reason for poverty is due to the lack of money, but as I stated “money is an idea.” So I guess the reason for poverty is really a mindset of comfort which provides limitations, doubt and hopelessness. I truly believe if you want to create wealth for you and your family you, you have to overcome your failures mentality. Your failures are attached to your pains experienced in life growing up. The truth to the matter is poverty isn’t about the lack of money; it’s the limitations we place on ourselves. It begins with our mindset. How bad do you want to change? Are you willing to pay the price for success? If so, let’s begin the Wingonomics journey. Every sports team has a plan in place to when facing the opposing team. In addition to the team’s game plan, every player has a personal plan for their opponent. So why don’t you have a game plan for your life? Without having a financial game-plan you are setting yourself up for failure. My goal is to teach you the psychology of money and how to change you behaviors not only in your financial life, but your personal life as well. Today, if I looked at your financial behavior (actions) what would I see that tells me you are heading down the right path to create change in your present financial situation? Remember, Behavior never lies! If you are on the right path to making your dreams and vision come to past you should be working your vision aggressively daily. Your mission in life is to have a vision, speak your vision, and work your vision so you can be living your vision. Being active in pursuing your vision will allow you to live the Wingonomics lifestyle and become a cash flow millionaire on any budget, in any market. For financial growth to occur your must understand that money is only an idea. If you are lacking money, than you are lacking an idea (vision). A vision allows you to visit your future so you are motivated to leave your present. Dare to dream big! You are closer to reaching your goals than you think, but you have to be a student of life to understand the game of money. 4 Let’s look into a few steps to create a financial game-plan to help you reach your fullest financial potential. 1. Goals (vision) – A vision allows you to visit your future so that you are motivated to leave your present situation(s). A. Your number one goal to allow your vision to come to past is to network with others who are already doing what you want to do in life. Always keep a circle of achievers who are doing better than you for inspiration and advice. B. Compare all your actions to your financial goals in life. If your financial goals aren’t being meet, why are you doing what you are doing? Always keep your financial future in mind when making any life or business decision. It will keep everything in perspective. C. You must have a goal system in place to hold yourself accountable for your actions. What is your reason “WHY”? Why are you doing what you are doing? Is it to make you lifestyle better? Or is it to make some extra money? Make sure you Why is in line with your vision. D. Learn how to expand your vision daily by visualizing yourself living the lifestyle. What I did was visit the car dealer to test drive my dream car. I gave the salesman my business card and told him to follow up with me to make hold me accountable to my goal. You can do this with a realtor, jewelry companies, or a good friend. Dream big, see yourself living the lifestyle! 2. Financial Education – A formal education (school) will make you a living, but an informal education (Self-Education) will make you a fortune. I’m not down talking our school system but for us to become rich Americans we need to self educate ourselves on how to create wealth. You can do this by… a. Becoming a member of our online financial community. It has audio, presentations, and financial worksheets for you to use and make better financial and life decision. b. Downloading our financial workbook which contains a financial outlines for you to follow. I suggest you read, study, and record your financial life daily for at least 30 minutes a day. This will allow you to review your dreams and goals in life on a daily basis. c. Take classes at your local college about banking & finance. You can also find classes at local colleges that offer certificates of completion. This 5 ... - tailieumienphi.vn