WT004: How To Uncover Hidden Money In Your Life Using D.E.B.I.T.S
02/27/19 • 28 min
If wealth can only be achieved through assets, then what exactly is the definition of an asset? Today Kevin and Chris talk about the Foundation, and share a process called D.E.B.I.T.S which anybody can take a closer look at and make some changes to reveal some extra cash in their lives instantly.
In this episode of WealthTalk, Christian and Kevin discuss:
- The two types of income: work income and asset income
- You cannot be wealthy without being in the wealth management
business, which you can delegate - How to reveal additional cash in your life without penny-pinching
- How to eliminate debt fast
- The importance of making sure that a portion of your monthly
outgoings are being directed towards building your wealth - A strategy for getting your wealth-building education for free
- Using a low cost tracker fund is one of the simplest assets to begin
accumulating wealth - Debt Free Day - the day of the year in which employed people have to
work until before they start to earn income after paying tax Hidden
costs and charges which can eat into your wealth
Links and a full transcription of this episode can be found at www.wealthbuilders.co.uk/wealthtalk
If wealth can only be achieved through assets, then what exactly is the definition of an asset? Today Kevin and Chris talk about the Foundation, and share a process called D.E.B.I.T.S which anybody can take a closer look at and make some changes to reveal some extra cash in their lives instantly.
In this episode of WealthTalk, Christian and Kevin discuss:
- The two types of income: work income and asset income
- You cannot be wealthy without being in the wealth management
business, which you can delegate - How to reveal additional cash in your life without penny-pinching
- How to eliminate debt fast
- The importance of making sure that a portion of your monthly
outgoings are being directed towards building your wealth - A strategy for getting your wealth-building education for free
- Using a low cost tracker fund is one of the simplest assets to begin
accumulating wealth - Debt Free Day - the day of the year in which employed people have to
work until before they start to earn income after paying tax Hidden
costs and charges which can eat into your wealth
Links and a full transcription of this episode can be found at www.wealthbuilders.co.uk/wealthtalk
Previous Episode
WT003: The 5 Levels of Wealth and Knowing Your Reason ‘Why’
Wealth is about an overlay of different freedoms, and when you truly connect with your reason ‘why’ it can become a catalyst which will drive you forwards to achieving the lifestyle that you truly desire. Kevin and Chris also talk through the 5 Levels of Wealth and the characteristics of each level.
In this episode of WealthTalk, Christian and Kevin discuss:
- Kevin Whelan’s definition of wealth
- The 6 different entrepreneurial freedoms
- The 5 Levels of Wealth and how to understand which level you are
currently at - Why contribution becomes the focus as you reach financial abundance
and beyond - The legacy that Kevin wishes to leave behind for future generations
to enjoy and benefit from - The hard work and energy that goes into building wealth always comes
at the beginning as you try to create the initial momentum, but get’s
easier as you progress up the wealth levels
Links and a full transcription of this episode can be found at www.wealthbuilders.co.uk/wealthtalk
Next Episode
WT005: Wealth Mindset
In order to build true wealth it is going to be necessary to think like an entrepreneur, in other words looking at ways to add or create value. Kevin and Christian look at the difference between an Entrepreneur vs an Intrepreneur and some of the different mindset characteristics between employees vs business owners
In this episode of WealthTalk, Christian and Kevin discuss:
- How to calculate your hourly rate if you are an employee and understand the current value of your IP
- Why relying solely on one stream of revenue from your employer is arguably one of the riskiest positions to be in
- It’s never been easier to follow the path of someone else who has been successful in the area you want to learn more about, and to find your own mentor to guide you
- Just because you own a business does not necessarily mean that you are an entrepreneur
Links and a full transcription of this episode can be found at www.wealthbuilders.co.uk/wealthtalk
Join the WealthBuilders Facebook Group: www.wealthbuilders.co.uk/facebook
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