What Is Your Net Worth??

Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.

For months I’ve had the desire to share with you openly, exactly how I work from home, the various income streams I have and the insiders look at the exact amount of money I make.

This past weekend, I was watching Headline News, when I heard an alarming statistic that I had heard once before, but this time.. it hit me.

Reporter Natasha Curry was interviewing someone who was addressing the whole race issue and the major divide in our country that was revealed in the Obama / Romney Election, and the guest mentioned that statistics show that Latino’s and African Americans have 22 times less Net Worth than Whites….

Now I’m the least bit interested in getting into politics, race relations and the likes… I’m more interested in getting an understanding of how I can overcome this statistic and be in the same category as my white peers.

See, one of the challenges that I have is accepting that your race dictates your success.  However, I have noticed common cultural trends that tend to cause this level of stagnation, and I’m committed to overcoming this cultural hurdle….

Here’s a brief explanation that CNN iReport did to explain why they feel the gap is widening:

Hmmm… time to break this cultural cycle.. but let’s talk more below about how this relates to you!

What is your Net Worth?

When we talk about Net Worth, I can tell that this term immediately makes people feel uncomfortable. The irony here is that this website and blog focuses on “making money” and the truth is most people talk about making money all day long, without any consideration to it building their net worth.

In the home based business industry, it’s very common to see people show boating their luxury cars, buying new homes based on a great month of sales, and presenting a long term vision of retirement, simply from their “business opportunity”.

Unfortunately, these same people tend to put all their eggs in the one basket of their biz opportunity, with 1000% faith and belief that it is their retirement plan.

However, the minute something changes, that “successful individual” is left flat on their backs, with nothing to show for those few successful months of earning a hefty check.

What’s Your Point Nic?

Considering that I’m very active in the home based business industry, I’m not speaking ill of the industry in any way.

What I am saying is that no matter how much money you earn, the true success is in what you keep!

My big question boils down to this….

How many of us are smart enough to use our Home Based Business Income as a means to establish our net worth?

Instead of blowing the money to showcase our success, what would life look like if we used it instead to build a SEP IRA, Invest in Real Estate Property, or fund other investments that would carry us through the transitions that EVERY entrepreneur faces in pursuit to live their dreams.

I’m talking to myself

This post isn’t really directed at any one. Instead, I’m talking to myself as I realized after hearing those statistics, that I could do a much better job of increasing my net worth, and investing, saving my money to carry me in places that will last through a business opportunity.

I’ve been that person that made tons of money one month and broke the next. I’ve always been in sales positions where my income isn’t guaranteed, and I have come to realize that as a business owner, we have to be 10 x’s smarter with our money because as easy as it is to make it, it’s that much easier to spend it, and have no account for what has happened with all the money coming in and out of your hands, during the “good times”.

Budgets Are Sexy

Last night, after spending countless hours working on my finances for the current month of November, I sought out knowledge and guidance for how to be smarter with my income and expenses.

I went through and calculated all my earnings so far for this month, along with all my expenses because with me still being partially in and out with my business, dealing with a new baby and all, I felt that I was blowing money and not doing a good job with tracking what was coming in and what was going out.

I also realized that we’ve been carrying the same debt around with us for years, which our only debt is student loans. However, we’ve both been out of college for over 10 years, and with the amount of money we generate, there’s no excuse as to why we still have student loans.

After coming across a few great blogs, one in particular mentioned a guy by the name of J Money of www.budgetsaresexy.com and I was so impressed with the fact that

I was instantly inspired to keep an open record of my life, being as open as possible so I can bring some level of transparency to those of you that wander if you can really make money online. And for those that are making money, how is it truly establishing wealth for them.

My Mission To Increase My Net Worth

I must admit, I’m pretty darn good at making money. I say it all the time, making money is very easy for me!! I’ve always been good at making money and I believe that I attract money into my life because I don’t have the limiting belief of money being a god or some unattainable object that’s so hard to come by.

Instead, I realize that money is simply a tool. And once you know how you’re going to use that tool, then you begin to get tons of creative ideas for ways to make it happen.

So today starts my journey.

Today is the day that I want to alter my journey from turning that “ease of income” into a “viable net worth”.

I have been great at making money… but not the best at being responsible over it, but today marks the new day of a more responsible and accountable Nicole, that not only knows how to make tons of money, but she’s great at managing it!

My Transparency Income Reports

Now that I’m setting into “focus mode” to make this possible, I figured that the best way to be held accountable and ensure that I do what I say I’m going to do, is to share this journey publicly with you so you can hold me accountable.

I realize that I’m opening myself up for opinions, and judgements about what I’m doing.. but honestly, that’s not a concern for me. I realize that doing this will be more of a blessing to others, than it would be otherwise, and I feel like it’s much needed in our niche and industry of “making money online” so I’m going to be sharing with you a great deal of personal insight about my income, my expenses, my goals and my progress.

I’d like to ask that you support me by sharing this information with others that you believe is helpful, commenting below to interact with me and let me know how this has helped or if there are specific questions and concerns you have personally, and we can experience this journey together!

Tomorrow, I will be sharing my first Income Report which will cover what has happened the first 2 weeks of November, as I press to cut back big time on the amount of money that is going out, so I can save more and invest more for future income growth.

I’m really excited about this new journey so stay tuned.. cause I believe that finally, I’m going to be able to impact so many peoples lives by showing them what can be done and will be done from a stay at home mom, who is sold out to living her dreams by building a thriving and successful online business….

Stay Tuned and the big reveal starts tomorrow.. so spread the word;)

P.S.