Become Financially Free

1) Build up my website businesses
2) Setup automatic savings and investment
3) Work on ensuring I am accounting for Tax correctly
4) Get 3 properties – 1 property by end of July

I have made an arrangement with a financial coach. I will do 4 hours of web design for 1 hour of his coaching.

I have asked that we setup very practical homework tasks, with the end goal of obtaining a cashflow positive rental before end of June.

I have been saving really well, and have found some fake printed 100dollar notes, and when I am putting money into my savings account I can put up the equivalent money onto the wall, so I can see my progress.

Also by putting a stop onto my savings account I have to go into the bank for a special meeting with my personal banker, and I have asked that he make it very hard and difficult for me if I ask to withdraw anything. Just this alone helps.

Also automatic savings is really good, and if I finish the week with money left over then I can chuck that onto my pile.

Also I am constantly developing my websites, and I know that these will start to pay off soon.

I have emailed him today for a meetup.

I have got a good savings plan, and have organised a special stop on my account so that I can’t get money out without getting the approval from my personal banker (and I told him to be mean to me).

I got a second eftpos card that can only ever access my check acount, and I will setup automatic payments daily for my budget only. Then when at work I will leave my second card at home.

Have saved $600 so far this year.

Also investigated houses, and will call the mortgage broker.

WEBSITE PROFITS:

So I have been reviewing my site’s products.

I have been lucky enough to meet with Mark Joyner and he set me a task to ask the question “What do I need to do to drive profitable customers to my site?”

So I re-thought my sites, and came with this answer:
1) Focus my energy on 1 site at a time.
2) Focus rather than on Search Engine Optimisation, and focus in on making it the very best tools and resource on the net in it’s niche.
3) Focus on making the products a natural fit for the site – eg have a really outstanding tool that helps you do stuff, and then that naturally helps you to find products that I am referring, rather than focussing in on driving people to the site, then hoping they click on ads.
4) Actually spending a bit more on programmers rather than taking ages doing it myself.

Then the traffic, and the money should follow.

GETTING AT LEAST 1x CASHFLOW POSITVE RENTAL PROPERTY BY JUNE 09
1) Get quotes for how much mortgage the banks will give me, and how much is needed in either equity or savings.
2) Call my friends that to property investment and ask for their advice
3) Look through the sites such as landlord.co.nz and mortgagee.co.nz for deals, and start to work out what I need to do next once I find one. “Do a dry run”
4) Do it before June 09

So the goal is to not have to work, and have enough passive income to live on.

This is my approach:
1) Develop online businesses and profitable websites
2) Setup automatic payments for savings
3) Pay off my $1600 loan (only debt I have)
4) Increase my kiwisaver (retirement) amount to 8% of my income if it is tax exempt
5) Save like heck to get a deposit on an investment house (eg passive income rental)