Yesterday’s blog was designed to encourage you not to be a Financial Clown.  If you are in the position where you are juggling you bills and financial commitments, then you’d better check the end of your nose.  If you are not sporting a big read ball on the end of it, then I’d like to inform you that you are not a clown.  Not being a clown means you do not need to juggle for a living.

Here are three more simple truths that may help anyone who is a fanatical juggler.

4.  Commit to living debt free. The reason many households are strangling in debt is because they spend money they do not have to buy things they can’t afford.  I blame society for this self-perpetuating, downward cycle that results in debt-ridden families.  This is a legacy we do not have to pass on to the next generation, so let’s do something about that.  Aim to be debt free.  First of all tackle the credit card debt and other loans or hire purchases.  Second, pay your car loans off permanently.  And finally, do not have a mortgage forever.

5.  Break the generational cycle. Remember in the previous centuries how it was very common for a child to follow in their parent’s vocation?  A blacksmith’s son became a blacksmith.  (Too bad if your father was the village idiot!)  Well I am pretty clear that research shows us that financial intelligence is generational.  That means, what you’re doing is teaching your kids.  Start to break that cycle by fixing your juggling habit this year, and then begin to educate your kids in sound financial principles from tomorrow.

6.  Teach others what you know so you grow. This follows on from helping your kids, but goes further than that.  When you teach someone something you know it reinforces it inside your own subconscious, making a stonger impression thereby strengthening that knowledge or skill.  You can find other reforming jugglers and work together to kick the habit.  Robert Kiyosaki, author of Rich Dad Poor Dad, encourages people to create 3 Hours to Freedom clubs, like-minded groups of friends helping each other to become financially savvy.  You can do the same by forming your own “Ex-Clowns Club”.

I trust you can use these ideas to stop juggling your money and break into a new realm of possibilities with your financial future!