Helping You Avoid Life's Financial Mistakes

How Much Does World Finanical Group Pay

December 2, 2010 By Leave a Comment

In a recent article I talked about why their was no such thing as a World Financial Group scam and validated it with several solid reasons.  However some people complained of issues that World Financial Group does not pay very well, so in this article I’m going to cover how WFG pays their business owners and how it can benefit you.

How They Pay You

First off, if you’re looking to get a salary pay, or an hourly wage this opportunity is not for you.  WFG does not hire employees they are in the business of hiring business owners who want to run their own financial business, and as any business owner they are paid on a commission only basis for products that are sold.

With WFG I’ve sold everything from annuities, mutual funds, to life insurance, and each of these of these products pay differently depending on the company you are dealing with.  Annuities and mutual funds pay a percentage of the money invested.  For example, if you invest $10,000 into a mutual fund and the company selling the funds pays a 5% commission you’ll earn around $500.  However you won’t earn all of this money, what you earn depends on the pay scale you are earning.

The Pay Scale

When starting out with World Financial Group you’re not going to be getting paid big commissions up front.  Instead your only going to be getting a 25% commission of every product you sell.  For example in the last example I showed how one product could pay a $500 commission but if you’re at a 25% pay scale your only going to get $125.

Now before you start complaining that isn’t fair I want to mention that starting at a 25% pay scale is not meant to be long lasting.  In fact once you get rolling and become a Marketing Director, better known as a manager, you will be getting around 65% of the commissions.  The 35% left will go towards the few people in your up line, and WFG itself to pay the people that run the home office.

How To Benefit From This

However, as good as this opportunity may sound it gets even better.  Selling financial products with WFG can make some good money but if you hire the help of a team you can compound those efforts by 10 fold.

For example, if your at a 65% pay scale as the manager and you hire someone who is just getting started and they are at a 25% pay scale and they have a client that moves $10,000 into a mutual fund from an old 401k and the total commission pays 5% or $500, the new associate will make $125 because he will only get 25% at his current pay scale and the manager will get $200 because he will get the spread between 65% and 25% which is 40% of the $500.  The would equate to a $200 commission.

The benefit of all of this is that you don’t have to do all the work to earn the money.  Once you have a team built up selling product you will begin getting paid more regularly.  However in the beginning it will take some time to get up and rolling but that’s the way any business is.

In the end WFG pays you what you want it to.  Their are people who earn over a million dollars a year down to a $100,000 or less.  The point is you have to be willing to go after it and put the time in because like any other business you have to do the work to see the success.

Filed Under: Financial Independence Tagged With: , ,

Becoming Self Employed: Is It Really For You

October 15, 2010 By 5 Comments

Becoming self employed is not easy, over the last year and a half I’ve been running MsWelding, a family owned business located in Midwest Ohio.  At first when I took over the business I thought it would be the start of something great but what I soon realized it was going to be a lot tougher than I thought.

In this article I’m going to cover the benefits to becoming self employed as well as some of the negative parts to it, and finally at the end of this article I’m going to give three simple questions you may want to consider before you become self employed.

The Benefits

Time. The first big benefit to being self employed is that you can determine when and how you want to work.  Their is no clock to punch, and you can start as early or work as late as you want.

In fact at my business I will sometime be in a little late and it even allows me to leave early if I have to.  However, I still like to keep a set schedule that way it keeps a regular rhythm for the business.

Profitability. When it comes to what you will earn you are in total control.  If you feel you are not earning enough you can raise the rates.  In fact since taking over this business I’ve raised rates on several things to stay more profitable.

No Boss. The best thing about becoming self employed is that you don’t have a boss standing over your shoulder watching everything that you do.  It almost gives you that sense of freedom that you don’t get while being employed.  The other benefit is that once you’re the boss it allows you to call the shots and make the decisions as well.

The Negatives

Competitive. With all the positive and great things about becoming self employed their are also some huge negatives to doing this as well.  First off, things can be fiercely competitive.

In fact I compete with several other businesses bidding on different jobs and if I don’t quote a job that is competitive against the other bidders I could risk losing valuable work.

High Overhead. The next thing a lot of businesses have to worry about is the amount of overhead the business has and in the beginning you may need a lot of help becoming self employed to cover these cost.

For example when I took over the family business I had to pay for all sorts of things to keep it up and running.  I had to buy steel, welding wire, gas, and even pay for utilities.  At the end of the month it’s easy to spend several thousand dollars on  stuff to keep your business up and running.

Wearing Different Hats. Next when your considering how to become self employed you need to realize that you’re not wearing one hat anymore when it comes to being self employed.

Before you became self employed you did your job and you went home for the day but when your self employed it’s only just the beginning.  For example, you also have to deal with all the financial issues, bid on jobs, and handle customer phone calls just to name a few.  To put it lightly some of this can be a bit overwhelming at first.

What Time You Work. Finally, one last negative side to becoming self employed is that you may have to work when you your business requires you to.  However, not all businesses are like this, for example the business that I run is on more of a 8 to 5 schedule.

However some businesses are not like this, for example a good friend of mine who runs a barber shop in my local town has to work late evenings and Saturday mornings.  He has to do this because these times happen to be the when most people can get a hair cut.

Become Self Employed Advice and Questions

Now that we know some of the benefits and negatives, I want to give you a few questions to ponder over if your thinking about becoming self employed.

Can you handle wearing multiple hats? The work it takes to manage even a small business like mine takes a lot.  Are you ready to handle the financial concerns of your business as they arise?  Are you able to raise capital if you need it?  Can you deal with employee issues, employment benefits, and taxes?   These things will eat up your time more than you think.

Can you handle the good with the bad? If their is one thing certain about being self employed it’s that things will never always be on the up and up.  Last year when I took over the family business it made me very nervous since we were in the middle of a recession and we didn’t exactly have a lot of jobs rolling in at that time.  However now it’s the total opposite and things are booming.

Are You A Visionary? Businesses never stay the same, in fact they are constantly changing.  Do you have what it takes to grow your business or do you reject change.  If you can’t except change in your business becoming self employed may not be for you.

Finally to close this article if you have answered the three questions above that you are absolutely ready to start your own business being self employed may just be for, however if you can’t answer the three questions with sincerity then it may not be for you.

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Starting a Network Marketing Business: What You Should Know Before You Join

October 6, 2010 By 3 Comments

Recently while at work a coworker was talking to me about a new network marketing business he had joined selling a vitamin supplement juice. I could tell by the excitement in his voice that he liked the idea of starting his own business and earning some extra cash.

However, even the best network marketing companies can have some serious drawbacks, and in this article I’m going to cover the pro’s and con’s about getting involved with network marketing businesses and also show one that I use to even work with

What Is Network Marketing

Network marketing is a business opportunity that allows you to sell a specific companies product.  In return for selling that companies product you are paid a commission.

However it doesn’t stop their a lot of network marketing businesses allow you to recruit others and in turn you will be paid a small commission off of what they sell as well.

For example if you look at the picture below and if I were able to recruit 2 people and those people were to recruit 2 people each and so on ans so on,  I would have a total of 15 on my team including myself and anytime one of those people sold a product I would be paid a small commission as well.

nwm

On thing I should mention before I move on is that a lot of people think that network marketing is some sort of pyramid scam but the reality is it’s not.  The way to tell the difference is that a pyramid scam will pay you to recruit people and sell no physical product or service, while a real business will.

The Pro’s

You don’t have to know anything.  To get started in a network marketing business you don’t need to have a marketing or sales degree.  In fact most companies will have a personal training program that will teach you the in’s and out’s of the business.

You can earn an extra income. The best part about this kind of opportunity is that you can earn several hundred or even a few thousand dollars a month.  In fact I know a lady in my local area who is in a network marketing company that sells kitchen supplies and makes over $20,000 a year at it.

You can work part time or full time. Finally, the last benefit is that most companies will allow you to get started part time to get your feet wet and see if the business is for you.

The Con’s

They charge a fee. That’s right in order to join a network marketing company they will charge you a fee.  No you might think that it’s a bit weird to join a business you have to pay to work for them, but the reality is that you are not paying them to get a job but rather paying them to start your own business and sell their products.  Typical fees will be around $100 to $200 for most businesses.

You don’t make much starting out. The truth is when your first getting started you are not going to get the big commissions.  When started my network marketing business I only made a 25% commission on all sales and in order for me to increase my commission percentage I would have to sell a certain amount or product to earn a raise.

Few people succeed. Finally, the biggest thing you need to understand is that few people succeed at making big money with this.  In fact this is even true with the best network marketing business around.  To prove my point while working with World Financial Group they would recruit company wide around 10,000 people a month and 80% of them would quit before the first month was up.

Where To Get Started

Finally, if you are still looking to get started with a network marketing business take some time and read my review on World Financial Group to learn more about this opportunity.  Lastly,  you can also search around on the internet, their are tons of different opportunities out there as well.

Filed Under: Financial Independence Tagged With: , , , ,

5 Rules On How To Make Money At Home

January 11, 2010 By 3 Comments

money_home1So you want to know how to make money at home online, but you’re not sure where to start.  You’ve seen the million and a half websites out there showing you how you could profit with millions of dollars making money online.

The truth is it all sounds great but if you don’t know what you’re doing you could end up with more problems than you started.  In the end you may feel overwhelmed with the whole task of how to make money at home and may give up altogether.

In this article I’m going to spend some time with you to give a few of the rules I follow to build a successful business from home.  If you can follow them you should have no problem making even just a few hundred bucks.

You Have To Start Some Place

For most people getting started is the hard part, mostly because they have a tough time deciding what they want to do.  In my case I knew I want to start a blog but I didn’t know what I wanted to specifically blog about.

I tossed and turned for weeks to come up with an idea that would take the internet by storm.  In the end I decided that it wasn’t about just an idea but more about just taking action.  Sure I made a few mistake here and their but in the end it all worked out.

I now enjoy a steady stream of cash coming in month after month because I decide it was better to just take action than worry about all the consequences that might plague me.

So now it’s your turn, start now.  Don’t worry about mistakes, just pick something and go.  If you enjoy the process you will learn along the way and make a few bucks while you’re at it.

It Takes Money To Make Money

Second, you can’t expect to get started in a business without investing some sort of capital.  The idea of the free business making millions a month is dead.  However, there are many sites on the net that claim you can do this; my advice is to avoid them altogether.

Now, I mentioned you can’t do this free but that does mean you couldn’t do this cheap.  For example, my current investment into my business is around $50 a month for web hosting, a domain name, and a membership site fee.

This might seem like a decent chunk of money to be spending on a business at home but when you consider what I make a month I still earn far more than I spend.  In the end you have to spend some money to make money.  It doesn’t have to break the bank.

There’s No Such Thing As Easy Money

You’ve probably seen those websites guaranteeing you that you could make thousands of dollars in just a few days by signing up to their membership site.  They claim it’s so easy that you don’t have to really do anything at all.

That all sounds great but in reality it doesn’t work that way, there is no how to make easy money at home.  In fact I’ve been working at how to make extra money at home for the last year and a half now and I’ve manage to earn a few hundred bucks a month.

I know it isn’t a lot but my thoughts are grounded with reality not fiction.  Anybody who guarantees you can make thousands in minutes it lying.  The truth is if it sounds too good to be true it probably is.

So you might be wondering what you can reasonably expect from home.  The answer is that it varies from one person to another, but it’s not unreasonable to make $500 a month after your first year.

Income Is Never Purely Residual

There is also a big rumor going on the internet that you can earn money on autopilot and you never need to lift a finger.  The truth is money is never residual completely.   For example, my current online business makes some great money but I could never just let them go and expect the money to just keep rolling in.

In fact, I usually check in on my sites at least once a day, for about fifteen minutes to check the latest stats and see what I could do to improve.  Other than that I spend most of my time writing content for my sites.

In the end income is never completely residual; in fact the closest thing to it is what I just mentioned.  So don’t be fooled that it is because it could cost you big.

You Have To Do The Right Things Long Enough

Businesses are really very boring.  The reason I say that is because if you want to win in business you can’t get bored or you’ll quit for sure.  I also say this because in order to be successful in business you have to do the right things.

The right things however are always going to be the same and never change.  For example in my business it’s about creating content and building links back to my site.  That’s it plain and simple; however that doesn’t make it easy.  The right things I have to do to be successful take around seven to ten hours a week to complete and if I get bored or tired of doing them I’ll quit.

This is what happens to most people who start their own business from home.  Most times it’s the idea of keeping that steady pace to get the work done week after week without expecting any results.

This brings me to my last point; the time it takes to be successful for someone is always different.  For some people it may only take six months, others it may take six years. The reality is will take time to do it.

Are You Ready For The Next Step

So what do you think, can you swallow the rules I’ve laid out for you.  Can you stick to your business through thick and thin?  Learning how to make money working at home is not easy at first but with focus and determination you can do it.

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Adsense Earnings Helping Me Get Debt Free

November 15, 2009 By 9 Comments

Well it’s that time again this week to post another article here at Stumble Forward and this week I have a special treat for you.  This week I’m going to be talking about something that I’ve been working on quit a long time.

Recently I’ve been testing the idea of building supplemental earnings to help me save and pay off debt.  In a sense this is money I’m earning to help me speed up the process of saving more money and get debt free faster.

So how am I doing it?  Well, if you can’t tell from the title already I’m using my Adsense earnings to help supplement my income.    So in this article I’m going to talk about what I’ve done so far, why I use Adsense, and at the end I am going to include a few resources for you to get started yourself so stick around.

My Current Google Adsense Earnings

Over the last few months I earned my first $100 of income.  This didn’t come easy though it took several months of hard work to do it and finally at the end of October 2009 I finally achieved my goal.  Now I know $100 isn’t much but in the month November I’m currently on track to earn $100 in one month.  See the picture below.

adsense-1001

In the picture above you can see my typical Adsense earnings for the month.  Now I can’t show you how many page impressions, clicks, or what my CTR is (% of visitors who clicked an ad) because it’s against Google’s terms of service.  But I can show you my average Adsense earnings, and this month I’m on track to hit $100.

Using Adsense To Get Out Of Debt

Now I know a $100 isn’t going to solve all of your financial problems but it’ll help.  I also want to mention that over time I will increase Adsense earnings though continually developing and learning how to improve my skills.

However, once you’ve built up this income though there are a few things you’ll want to be prepared for.

  1. Don’t become dependent on the earnings. Earning extra money from Adsense to help pay off bills and save more is meant to help you speed up the process not be your only form of income.
  2. Don’t create more debt. Just because you are earning money from the Adsense program doesn’t mean you can go on a spending spree and build up more debt.  If you start earning some great money from Adsense to help you pay the bill and you get carried away and buy a new car you have just defeated the purpose of earning the money.
  3. Save your earnings don’t spend them. In the beginning you don’t want to even spend the money on helping you pay off debt.  What I recommend you do is save it first.  Why?  Because you don’t know how long or even if the money will continue to keep coming in.  Sometimes things change and you’re earning may dry up like a desert.

Why I Like Earning Money From Adsense

They’re a few reasons why I like using this method to earning some extra money to help me pay the bills.

  • Low Overhead. It doesn’t cost much to get started with this, just a few bucks a month and a little bit of your time.
  • Easy Learning Curve. When it comes to earning money online Adsense is the easiest place to start.  Don’t get me wrong other methods work as well but when you’re just getting started with this you’ll have more success with Adsense first.
  • No Experience Required. You don’t have to be a marketing genius to do this.  I spend a few hours every week at this and that’s it.  Now obviously if you put more time in you’ll see better results but even just putting in five to ten hours a week can earn you some great money over time.

Who Is This Program Best Suited For

Not everyone is suited to be a part of Google Adsense, however I have listed a few people I feel will best fit this program.

  • Anyone who is in debt and looking for an extra source of income.  Sometimes the jobs aren’t out there so why not create one.  With Adsense you are in a sense your own boss earning income.
  • Single parents. With single parents I know it’s tough to work two jobs and be there for your kids.  With this program you can work from home earning extra money from one of the largest internet companies around, Google, allowing you to be home for your family.
  • Any who wants to save more money.  With so many people in debt most people can’t afford to save more.  With Adsense you could earn an extra $100 and use it as an extra resource to help build your saving account.

A Few Resources To Help You get Started

The internet contains thousands of resources on Adsense, some great, and others not worth a damn.  So here are a few places you can get started and maximize Adsense earnings.

  • Google Adsense.  This is the first place to check out.  Google has tons of info on their program to help you get started.
  • Grizzly’s How To Make Money Online For Beginners. This website is full of great advice.  Griz has tons of experience earning money from Adsense.   I thank Griz everyday for what he has taught me; otherwise I wouldn’t be earning anything at all.
  • Make Money Online Grizzly. This is another one of Griz’s sites I also found very helpful.
  • The Keyword Academy. This site is probably my favorite resource when it comes to learning about earning money with Google Adsense because these guys built up a ton of knowledge on the subject.  The Keyword Academy is a membership site but the small fee they charge is defiantly worth the money.

In Closing…

Check out the resources above and get started.  The worst thing you can do right now is nothing.  Taking action is always the first step to becoming successful.  So what is it going to be, get started building your Adsense earnings now.

This post was recently featured on the Carnival of Personal Finance by Fiscal Geek.

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10 Free Ebooks To Help You Achieve Your Dreams

June 10, 2009 By Leave a Comment

2009-06-06_1415Do you want to do more with your life than just getting debt free?  I know what your thinking being totally debt free would allow you to do a lot of other things, right?  But what kind of dreams do you have after that?

Without dreams we really have nothing to look forward to in life.  Dreams add excitement to our lives.  Without dreams we would have nothing, but the real question is how do we achieve those dreams? 

Recently I was exposed to a great lady who does nothing but coach people how to achieve their dreams, Marica Wieder.  In fact she recently released 10 ebooks on the subject of achieving your dreams.  Now here’s the best part they’re all free.  You heard me.  FREE!

So what does here books teach?

The 10 Ebooks

  1. Becoming A Dreamer
  2. Going Back To Basics
  3. Overcoming Failure
  4. Accessing Your Power
  5. Believing In Your Dreams
  6. Finding Your Dream
  7. Taking Time
  8. Living A Rich Life
  9. 100 Ways To Make Life Easier
  10. 100 More Ways To Make Life Easier

After going through all 10 ebooks above I can definitely say I feel more empowered now. 

Why Read These Ebooks

Getting out of debt is more than just setting a goal and hoping to one day be debt free, it’s about going beyond that and living your dreams.  The truth is if all I ever did was focus on staying debt free I wouldn’t stay very motivated, at least for long.

This is why you need dreams.  They give you something to shot for in life.   So if you would like to get your hands on these free ebooks you can get them by clicking here.

Chris

Dreaming

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Poll: Do You Have Your Financial Goal Written Down

May 26, 2009 By Leave a Comment

Here’s a simple question, do you have you financial goals written down?  The reason I say this is because it makes a big difference if you do.

If you don’t have you financial goals written down then they are just merly a wish not a goal.  If you’ve read my article on writing your financial goals they you might understand what I am talking about here.

By having you goals written down your odds of achieving them increase dramatically.  In fact I recently came across a survey of a high school class for the 1960′s and it showed that all the people who had become successful in that class were the ones who wrote their goals down and worked on them constantly.

Answer the Poll Below

[poll id=6]

Filed Under: Financial Independence

A Step-By-Step Guide To Launching A Membership Site

April 27, 2009 By Leave a Comment

Today a new report was released by Yaro Starak, a
well respected blogger and Internet marketer.

His report is called the Membership Site
Masterplan and as you would guess, it is a
step-by-step guide for launching a profitable
online membership site.

You can download the report from here:

The Membership Site MasterPlan

Yaro’s a great teacher and writer, and whenever
he releases a report people always eagerly await
what he has to say.

His gift is the ability to take complex subjects
and make them very easy to understand. As you will
see in this report, Yaro makes the process of
setting up and profiting from a membership site so
easy, anyone can do it, including you.

The Masterplan doesn’t disappoint, and once again
Yaro has not held anything back. This is a report
that is full of CONTENT, it’s not some
hype-filled document just designed to sell a
product and not really teach you anything.

In the Masterplan Yaro explains how he was able to
make $250,000 from just one membership site and
then goes on to lay out a plan so you can launch
your own membership site and earn at least
$100,000 within the next 12 months.

In the report Yaro takes you through the following
process:

- How to find topics for a membership site

- How to develop preeminence, which means people
choose to join your membership site over all the
other options

- What sources of traffic Yaro uses to bring
members to his site and build his list

- What technology Yaro uses to deliver content
(this is so simple, anyone can do it)

- How to make money from a membership site BEFORE
you create the content for it

- How to fill your membership site with hundreds
of new members in a matter of days by conducting a
powerful, yet simple, launch campaign

- and much more…

Download the Masterplan here:

The Membership Site MasterPlan

This is by far the most comprehensive report I’ve
ever seen on this topic and I can’t believe Yaro
is willing to give it away.

Of course Yaro hasn’t put all this work into the
report for nothing. He’s launching a training
program next week and this report is designed to
introduce you to his teachings.

That being said, this report is a complete
document – no matter whether you decide to join
Yaro’s program or not, you will benefit greatly
from this report, I know I did.

If you’re thinking of selling something online, a
membership site is definitely the top choice. A
product that you sell once, yet continues to
deliver income month after month, is by far the
best business model.

But listen, I don’t need to convince you of this,
read the Masterplan. Yaro has put together a very
compelling story and followed it up with a very
detailed plan so you can do it yourself.

Go get your copy now -

The Membership Site MasterPlan

Good luck with your membership site!

Chris

PS. Yaro told me he’s going to release an audio
version of the Masterplan too, so you can either
read this report or listen to it, whatever you
prefer.

You can go register for both versions here -

The Membership Site MasterPlan

Filed Under: Financial Independence

Start A Membership Site To Get Out Of Debt

April 24, 2009 By Leave a Comment

membership_mastermindHave you ever wanted to know how to start your own membership site?  Starting on Monday April 27th a new free ebook will be coming out called, ‘The Membership Site Masterplan.’

You might be asking why I am telling you about this.  Well, when it comes to the Internet starting a membership site is the fastest way to do it.

Best of all this book isn’t written by just anyone.  It’s written by a guy who’s built two very successful membership sites already, Yaro Starak. 

The book contains 73 pages of how to set and start your own membership site. Oh, and did I mention it’s FREE!  You heard me.

Now here’s the bad news, the book isn’t available just yet.  So in the mean time you can get on the list to be notified as soon as the ebook is available for download.  You can do that here.

When it comes to getting out of debt or saving up money you have to be on the outlook for new ideas and this is definitely one of them.   Yaro is one of the top guys in the business so you definitely don’t want to miss this opportunity.

Chris

Filed Under: Financial Independence

Conspiracy Of The Rich: The 8 New Rules Of Money

February 7, 2009 By Leave a Comment

Thought I would pass along a quick message.  I recently just got done checking out Robert Kiyosaki’s first chapter of his new book, Conspiracy Of The Rich.  I’m not going to spend time explaining the book for you here because that’s what I want you to do.

Robert is unveiling his new book one chapter at a time at his website.  You can check it out here. 

If your not familiar with Robert Kiyosaki or any of his work you may want to check out some of his bestsellers like Rich Dad Poor Dad, and The Cashflow Quadrant.  He’s been on the top of the New York Bestsellers list and sold millions of copies of his books. 

With everything Robert has done so far would you expect any less.  So once you get a free moment, check out the first chapter in his knew book at his website.

Enjoy the read,

Chris

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5 Tips To Starting Your First Business To Get Debt Free

February 2, 2009 By 1 Comment

Last week I wrote a post on How to get out of debt with a home based business.  In that post I talk about few different steps you will have to take to make that happen.  I also explained briefly that this is also a unique way to get out of debt.

When you think of all the ways their are to getting out of debt, from debt consoling to doing your own personal debt plan  setting up your own business to eliminate debt is kind of an odd way to achieve this goal.

So I figured  I should give you a few tips especially if you haven’t ever started your own business.  These tips are a few guidelines to follow when getting started.

  1. Low Barrier Entree.  If you haven’t started a business before you may want start with something that doesn’t have much cost associated with it.  So starting a franchise or buying into a business is out of the question at this point.  Start with a low cost business and learn the ropes.  If you fail or make a mistake it won’t loose much.
  2. Make it Part Time.  In most cases you will have a full time job when starting your first business and you don’t want to give up that job at least right away.  Instead hang onto that job for the constant flow of income till you have a steady and reliable income to actually go full time. 
  3. Don’t Become Fully Dependent On Your Business Income.  Paying off debt with this income may be your goal but don’t become so dependent on it that you have to have it in order to survive.  If you’re creating new debt and becoming dependent on this income to pay off those debts you could have an issue.  For example if you start a business selling insurance and your income is dependent on you making a sale and you can’t make any sales one month then you may have problem. 
  4. Put 50%-75% To Paying Off Debt And 25%-50% To Savings.  Don’t use everything you make to pay off your debt.  Save 25% to 50%.  This is the flip side of the coin to getting out of debt. Saving money will prevent you from falling back into debt.  This is a common mistake I see with people trying to get out of debt.  They have almost all of their debt paid off but no money saved or worse they use a portion of their 401k to pay off their debts. 
  5. Get In Business With Mentors.  One thing I felt helped me more than any of the other tips was the fact that I had someone helping me the entire way.  When I got started in financial services I had people who had been in the business for years teaching me how to run a business of my own.  I had people that made modest incomes for $50,000 a year to over a million a year in income teaching me and mentoring me how run my financial business.  With mentors they will help you bypass a lot of the major obstacles and increase the learning curve to success. 

Now, you may be wondering which business opportunities will work the best with the above tips I have given you.  Over the next few weeks I will be going over a few business opportunities that you can check out that qualify. 

However if you think you know of a few business opportunities that fit into this category then please feel to leave a comment let me know about it.  I would love to take the time to review other possible opportunities and add them to the list.

Also if you haven’t done so sign up for my RSS to get the updates of which business opportunities work best and I will send you updates as I get them.

To getting debt free,

Chris

This post was recently featured on Carnival of Personal Finance #191 by Dollar Frugal.

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