I save money because I don’t ever want the lack of money to cause me to make bad decisions. – Miriam Joy

One of my favorite things to do is dance.

If I could get paid to do it, I would.

It’s great exercise and helps me relieve stress. I am better able to manage my life and all the things that come my way. And let’s not forget that exercise gives you endorphins, which makes you happy.

And they make you happy. 😊

However, as much as I like to dance and earn money, I have my limits.

If you have ever seen the movie, They Shoot Horses, Don’t They?, then you know what I’m talking about.

The film is based on the 1935 novel of the same name written by Horace McCoy. It starts out in 1932. The Great Depression is only a few years in America’s rearview.

The film start’s just as the title says. By putting the hurt animal out of its misery.

During this time period, the country is still reeling from the stock market crash of 1929. Therefore, smelling opportunity, an unscrupulous emcee runs a Depression-era dance marathon for a down on their luck group of characters. The contestants are competing for the grand prize of $1,500 dollars.

What ensues is sheer madness. The contest slowly descends into chaos as each contestant is eliminated one-by-one. It is a test of wills where it is all about the survival of the fittest.

MONEY IS A MOTIVATOR

I like to calculate the opportunity cost or hours of work compared to the cost of purchasing an item.

For example, if you make $30 an hour and purchase a concert ticket for $150, then you have to work 5 hours to pay for that purchase. You have to ask yourself, if that ticket is worth 5 hours of your time? Are you willing to work that long to buy that ticket?

You can use this formula for anything.

I used this formula as motivation to stop buying clothes and miscellaneous items.

After reading several books, I was motivated to stop shopping and pay down and off my credit card debt and personal loans.

That was my way of putting my debt of its misery. Paying it off!

I started saving over $10,000 a year. That’s money in the bank. I needed that amount to be able to sleep at night. I call that my sleep number.

WHAT IS YOUR SLEEP NUMBER?

My sleep number is $10,000.

What is a sleep number?

Well, I feel that it is the amount of money you keep in savings so that you can handle emergencies such as a medical bill, dental work, or a flat tire and can sleep at night without worrying how you’re going to pay your bills.

If you could give yourself a number like that, what would it be?

Calculate it.

For you to sleep at night without having nightmares that the bill collector is calling and to stop tossing and turning, how much would it take? $2,500, $5,000, $10,000, or $20,000?  

That’s your sleep number.

ATTRACTING MONEY

You know I am all for attracting good things to yourself. You do this with your behavior.

I love magnetism. That’s why I named this blog Greenbacks Magnet.

It is the Law of Attraction which uses the power of the mind to translate whatever is in our thoughts and materialize them into reality.

Remember that like attracts like.

Athletes like other athletes.

Musicians like to work with other musicians.

Academics attracts other academics.

Money attracts money.

You see my point. If you want something, then you have to find a way to attract it to you. What are you going to give, to get?

Case in point, you can earn money in a high yield savings account. First, you must have some money to put in the account. That money will be used as the principal to attract interest. The higher the amount, then the more money you attract and ultimately earn.

Broke attracts nothing.

That is why you save. To not be broke.

In the book You are broke because you want to be, the author lists all types of reasons why people are broke. Mostly it has to do with spending habits.

He even said saving coins in a huge gallon milk jug could allow you to save $400 a year. If you do it consistently and save all your coins, that is, instead of spending them.

HABITS IS WHAT MAKES YOU RICH

Your behavior is the number things standing between you and incredible wealth.

Habits equal riches.

You limit the spending and build your wealth. That is how it is done.

Keep yourself healthy and agile. The wealth building years when you are young can set the foundation for the rest of your life.  This is the time to get the skills and training you need to earn.

That’s when you’re loose like a mongoose.

 For those of you that remember Rikki-Tikki-Tavi by Rudyard Kipling, you got to read about the actions of a mongoose. Quick and deliberate. Single-minded focus. That is what it takes to build wealth. You keep hammering at your target until you nail it.  

Your number one asset is your ability to work. That is what you will use to earn your fortune. Stay nimble. Move out West or where ever the jobs are.

It is your duty, responsibility, and obligation to be successful. Habits is torch that blazes the trail to wealth. If you want financial freedom, you have to work for it.

No one is going to hand it to you. But it’s out there. And it’s yours for the taking.

To recap…

• Before making a purchase, figure out how many hours you have to work to get it
• Calculate your sleep number
• Attract money by earning and saving money
• Habits make you rich so practice the habit of saving