• STEP #1: Create a Balance Sheet

1. Assets are those physical items you own which have a calculated worth in dollars. They include vehicles, real estate, and equipment. They also include your house even if it has a mortgage, retirement funds, and any savings. List each item alongside its valued dollar amount and calculate a total.

2. Liabilities include all financial obligations including credit card balances, loans and mortgage payments. List the outstanding dollar amount remaining for any mortgage or loan. Calculate a total.

• STEP #2: Calculate an Income Statement

1. Income calculation will be different for everybody. Some of us have reliable W2’s and predictable paychecks, while others don’t. If you are self-employed, work on a per commission basis, or have seasonal employment, average your income by looking at last year’s taxes, or by factoring in all income streams and dividing by twelve to find a monthly average.

2. Expenses include all money that goes out and this is where you might find some surprises. Just how much are you spending each month at Starbucks? Look at credit card statements, paper receipts, and monthly bills. Include fuel for both yourself and your car, bills for phone, internet, and insurance. Also include a category for repairs and maintenance such as regular oil changes. Create a miscellaneous category to include those unexpected expenses that come up periodically.  

• STEP #3: Identify FIXED and VARIABLE

Are You Really Committed To Living A Healthy,

Wealthy Life On Purpose?

by Beau Henderson

Everyone that I speak with about debt says that they want nothing more than to get out of debt and NEVER go into debt again. People say all the time that they are committed to getting healthy and wealthy … that they want nothing more than to know that they are living a life of purpose, a life that will become a legacy for their loved ones and family when they leave this life. But, when it is all said and done, VERY FEW people choose to make the time to actually do the things they need to do to have all of the things they say they want.

One of my favorite Proverbs, Proverb 3:13-14 says:

Joyful is the person who finds wisdom, the one who gains understanding.

For wisdom is more profitable than silver and her wages are better than gold.

We really want to be the absolute best stewards and do the best we can with the money that God entrusts us with. And, we also want to make sure that we are using those resources to be the best stewards we possibly can be of our lives by being the best version of what God put us here to be.

I am really excited about what we have seen happen in the first 5 days the 100 Day Debt Destruction Challenge. Alot of people have signed up. And more importantly, we have seen alot of people take the time to do what they need to do to get CLEAR about where they stand financially right now!

We have a proven plan – a financial road map – that has helped thousands of people destroy debt and set themselves free from the bondage of debt! However, this is the first time that we have actually created a team environment for people to work together on getting out of debt … and the results have been pretty amazing. The encouragement, support and accountability is helping to propel folks forward at lightening speed. There is nothing more powerful than being surrounded by a group of people helping and encouraging one another!!

So … if you are tired of dealing with debt -  tired of the stress, tired of being a slave to your debt and you want to move towards what everyone says they want – peace of mind and financial freedom, take the time TODAY to get registered! You have until midnight tonight to join us.

Register at http://RichLifeDebtFree.com If NOW is not the right time to get started destroying  that mountain of debt, WHEN do you think the timing will be better?

And for anyone that doesn't think that something like this would be worth doing, we have put together over $5,000 worth of cash and prizes to reward those who choose to play full out! So, if you've been waiting to get started, stop waiting and let's do this together. I believe in YOU and your RichLife!!

"RichLife Advisors was founded on one primary business focus: to help everyday individuals stop financially sleepwalking through life and finally take charge of their own debt freedom. We seek to empower clients to make the choice to get debt free by providing a personalized path to debt freedom for each individual. I believe that a rich, fulfilled life is within reach of everyone, despite the current state of their finances," said Henderson (www.richlifeadvisors.com).

Are You A RichLifer?

by Beau Henderson

We had such a great radio show this weekend!! Quite a few folks actually 'fessed up that they are RichLifers!! What IS a RichLifer? Here is the definition that I came up with …. let me know if this is how YOU are living your life … I would love to feature YOUR story on the show!

RichLifer  – someone who is making the commitment to be the best version of themselves that God created them to be while choosing to live rich right now!!

RichLifers all have similar life philosophies. They believe in and are committed to:

• God is good all of the time!!
  

• There is ALWAYS something to be grateful for regardless of what their current circumstances look like right now!
  

• They are living rich right now! They don't play the "When I … Then I" game. They choose to enjoy the moments of life NOW because yesterday is gone and tomorrow is not guaranteed!
  

It seems as though all RichLifers are just a whole lot happier and find their lives far more fulfilling than people who are still struggling with thoughts of "I'm capable of doing more. I know I can do a whole lot better than I'm doing right now. Or even, I know I was meant to do more."

After working with 3,000 financial planning clients over the past 13 years and coaching dozens of Financial Advisors every week for the past several years, the best way that I have found to help people work their way through those questions for themselves is to get them started with the foundational principles that are discussed in our best-selling book, "The RichLife – 10 Investments For True Wealth". We have received dozens of emails and comments from our subscribers, friends and clients telling us that they FINALLY were able to read a "financial book" that made sense to them, that has given them a whole new perspective on what "being rich" is really all about!

How do you become rich? What is it that makes the ULTIMATE difference between those who achieve their RichLife and those who do not?

Most people have it all wrong. It is seldom luck or inheritance or advanced degrees or even intelligence that enables people to amass fortunes. There is one thing YOU CAN DO regardless of age or income, and it will make the greatest difference between changing your life and not changing your life. It is Hard/Easy – what I call the Master Investment! The application of Hard/Easy is a call to action!! Wealth, more often than not, is a result of a lifestyle of hard work, perseverance, planning, and, most of all, choosing to develop the self-discipline needed to delay immediate gratification in favor of having long-term financial freedom. 

The paradox is that we often take on debt thinking somehow we will be happy, but what most people really want is FREEDOM! The more debt we have, the more we are enslaved to that debt. The more enslaved to debt we are, the more we restrict having financial freedom. I think it's time to learn the lessons and break that cycle ….

“RichLife Advisors is so excited about our 100 Day Debt Free Challenge. Not only do participants learn important tips and receive all the tools they’ll need to get debt free, but they’ll also have the opportunity to earn cash and other prizes in the process. It’s unlike any other get out of debt plan out there! And we’re not the only ones excited about it – with over 50% enrollment filled, it’s already creating an online stir," said Henderson (www.richlifeadvisors.com).

• 70% for living expenses
• 10% for short term savings
• 10% for paying down any outstanding debt
• 10% for your future

If you are ready to tackle your debt and finally get debt free, The RichLife 100 Day Debt Free Challenge starts May 1, 2012. We are working with 100 people for 100 days and we will be seeing $100K's of DEBT DESTROYED!! If you are ready to FREE YOURSELF from the bondage of debt, JOIN US TODAY!! For more information please visit: http://RichLifeDebtFree.com

“I’ll tell you what makes my life rich –

it’s what we do at 5 o’clock in the morning.

What do we do at 5 o’clock?

We leave a lot of sweat on the grass!"

Being around positive people who want to make a difference in not just their life, but in the lives of those around them.

 

Average Joe Boot Camp is a 30-day fitness camp for people of all fitness levels. I started camp myself 2 years ago on February 1^st. I was 247 pounds, my cholesterol was through roof, my triglycerides were through the roof, I was a stroke victim or a heart attack waiting to happen. Melanie Churchwell, who I will always owe a debt of gratitude, got me started.

 

Back then I couldn’t even run a 100 yards.

Now, I’ve lost close to a 100 pounds, ran 2 half marathons and one full marathon.

 

According to Web MD in 2010, 63.1% of people in America today are too heavy with 36.6% being overweight, 26.5% percent being obese. You want to make these changes, to work out or get healthy, but like a lot of people, you can’t seem to do it, you’ll start tomorrow or next week . . .

 

The group is the key. You’ve got all these positive people around you and that’s what keeps everybody going!

 

We started doing this for free back in September. A lot of folks charge a lot of money for this, $300-$350 month, and a bunch of my friends were talking about this and I said, you know, the average Joe can’t afford to do this! The truck driver, the waitress, or the Wal-Mart worker, and so it was a very small thing we started. Then back in October, we started a Facebook page for Average Joe and it just went crazy from there.

 

We get folks off their couch, off their butts;

we get the fried food, the processed stuff and sugar out of their mouths. That’s what we do.

 

“The real key that I’ve found being a part of this group is all about accountability. The group is key. It’s not just about me trying to get out there and do something for me. It’s about trying to do this as a group and show ownership across the board.” ~ Bill

 

“I came to Ron back in December, from then until now I’ve lost 35 pounds. Anybody can do this. Regardless of age, weight, dress size, we are out there at 5am at city park, every day.” ~ Althea

 

 

“I love to eat, and I know a lot of people do, but with me I especially love to eat. And I wound up with a blockage in my heart, got a stint put in, and I changed a little bit then but it wasn’t enough. A few years later, I got another stint. A friend introduced me to this boot camp thing, and that’s when I met Ron. I said, ‘Man, these people out here are going to kill me! I want to do something easy!’ Then back in January I wound up back in the hospital with a 3^rd stint and I called my friend again and asked him about the camp and he said, ‘Well it’s going on right now, where are you at?’ And I told him and he said, ‘Man, we need to get you back here!’ I started camp at the end of Feb over a year ago and it has changed my life. I went from not running a single step, on 9 diff medicines, with stints and blockages and all kinds of problems. Now I’m off all my meds. I’ve dropped 55 pounds, I ran 4 miles this morning, and did 300 crunches with 9 people from camp.” ~ Chris 

“It makes my life worth living sometimes. It helps me to get up out of bed at 4 o’clock in the morning, knowing these people are putting their health in my hands. And now I’ve got 8 other instructors out there helping, that I love like brothers and sisters and that means a lot to me as well. I feel like it’s a ministry, Beau. I really do.

 

I was a 250 pound guy who didn’t want to move! And now I’m out there organizing 5k’s, I’m running this boot camp, and it’s so freakish to know I’ve come this far and it means so much to me. I really feel like this is where God wants me to be."

Let’s Destroy Some Debt…

by Beau Henderson

“Someone who drives on a bond financed highway in a bank financed car fueled by charge card financed gasoline, going to purchase their furniture on an installment plan to put in their mortgaged home.”

For Immediate Release: Living Below One's Means on Purpose and with a Purpose Is a Fresh Concept Addressed by Atlanta Georgia Based Author Beau Henderson in His New Book "The Rich Life"

For those who wished that someone would offer them the greatest secrets to living a rich life, Beau Henderson’s book, "The RichLife: 10 Investments for True Wealth," does just that. Henderson, who is a financial advisor who has worked with over 3,000 clients, offers readers invaluable advice for living the rich life, which involves investing in health, family, self and future at http://RichLifeAdvisors.com

Atlanta, GA (PRWEB) March 26, 2012

In a world in which people have grown accustomed to living on credit, Henderson advises that one of the key principles to living the rich life is to live below ones means. Keeping Henderson’s lessons in mind, anyone can become wealthy by having more income coming in than going out, whether a person is earning $150,000 a year or $20,000 a year.

Living below ones means is all about choices that keep the bigger picture in mind: “Even though someone can go out to dinner, they don’t. Even though they can afford a higher car payment, they invest that money differently. They put it to work for you so that ten years from now, they achieve the picture of their RichLife."

To support a healthy financial future and keep things comfortable for ones self, a person must choose to stop spending before they have spent everything. Henderson enriches his message with anecdotes and sharp insight, helping his readers to keep their destination for their lives in mind, rather than taking the “micro” view of money.

Henderson offers his readers more than just solid financial advice, he offers them life advice on building all of their assets, including their families, health and sanity, making it the only book for true investment and success on the market. The unique combination of advice that Henderson provides makes The RichLife an absolute must-read for everyone.

Beau Henderson

As a financial advisor, Beau Henderson has helped over 3,000 clients to live a rich, fulfilled life, helping them to master both their relationship with money and to begin to live a “healthy, wealthy, fulfilled life, on purpose.” He is the CEO of RichLife Advisors, as well as a radio personality, author, and coach. For more information on Beau, visit his website at http://www.RichLifeAdvisors.com, Facebook at https://www.facebook.com/RichLifeAdvisors or follow him on Twitter @RichLifeAdvisor.

The RichLife Show

The RichLife Show airs weekly on Saturdays at 12 PM Eastern on AM 550/102.9 FM WDUN in Atlanta. Listeners from California to Canada tune in to listen to it live online each week at http://www.RichLifeAdvisors.com.

Stewardship, Your Kids, and The Three Little Pigs

Teaching kids about money

• Should allowance be something children are given, or should it be earned?

• What do I do about the child who spends everything all at once? And what about the kid who won’t spend anything at all?

• How can I tell if and when my child is ready for a new responsibility?

1. Teach kids to take care of what they already have if they want something more.

• When I want to know whether or not one of my employees can handle a big client, I take a look at how he takes care of his small clients.

• Start out with small things and see how that goes before challenging them with bigger things.

• Teach your child: “If you want to earn the right to have a car, show me how you take care of your bike. If you want the responsibility of a dog, show me how you take care of your goldfish.”

2. Do not give allowance like it’s an entitlement.

• Harder tasks are worth more money. Easier tasks are worth less.

• Consider age-appropriate chores when assigning monetary value.

• Giving children money they don’t first have to earn sends the wrong message. It teaches them that financing a lifestyle is normal, when in truth it leads to debt, stress, and the wolf at your door.

• Doing the hard work of building something you want for yourself leads to self-reliance, responsibility, and a feeling of well-being.

3. Teach your kids how to SPEND, SAVE, and SHARE.

• Help them decide on a formula such as 70%, 20%, 10%.

• This will allow them to set aside an amount for spending on short-term items such as movies or treats.

• Long term goals such as big ticket items.

• And an amount that teaches the power of giving first. This might go towards a community cause such as a food shelter, a charity, tithe at church, or youth group.

• You can have some fun here designing your own special piggy-bank, divided into 3 sections. Or maybe you will have three separate banks to remind you of the parable of the 3 little pigs!