Secrets To Wealth

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• Planning for wealth
• Tuning the thinking machine
• Budgeting for wealth
• The tempest
• Increasing your income
• Looking out before you invest
• The avoidance of debt
• Saving for wealth
• Insurance for wealth
• Watching out for tax, inflation and fees
• Investing for wealth
• Record keeping
• Becoming a lotto millionaire

The tempest

The "tempest" is a simple, but very powerful concept. Essentially, it means reducing all expenses by 10%. Obviously, this is much simpler in concept than in execution.

Budgets generally have the potential to be strongly managed. the Shape of Money recommends implementing the "tempest" approach. This approach seeks to review each item in the budget and drive every last cent out of it.

The "tempest" is implemented over a period of time. For example, you might choose to target one item in your budget per week or month. How this might work can be demonstrated by the following example.

You decide to target your electricity bill and want to reduce it by 10%. The suggestion here is to seek out relevant information such as:

• Ringing your current supplier and confirming that you are on the correct plan,
• Take time to review all the websites of all the electricity suppliers to identify smart ways that you can reduce your usage, and
• Review the Consumer Institute's website for their comparison of the various supplier's plans and charges.

The ideas to implement the tempest are really only limited by your imagination, drive and energy.