Millen's Blog

For Financial Success


Last week I shared with you three Financial Freedom Rules:

  1. Don’t spend more than you earn.
  2. Don’t borrow more than you can afford.
  3. Build multiple streams of income.

Simple enough, right? Yet so many people don’t follow them and weaken their potential to achieve Financial Freedom. We talked about the importance of developing Abundance mindset, which provides for 80% of your financial success.

Abundance consciousness assumes that you follow a ‘path of least resistance’ and align your actions with feeling good about your life and your actions. Following Financial Freedom Rules will not only put you on the road to Financial Freedom but also will help you reduce stress and worries in your life!

Don’t Spend More Than You Earn

If you are tired of financial slavery and currently have a habit of spending more than you earn—have a balance on your credit card, use multiple credit cards, borrow from your house’s equity line, etc. —you must cultivate financial freedom habits by following this first financial freedom rule.

How? By cutting your spending by 20-50 percent across the board. You can do this by bringing homemade lunches to work; cutting back on restaurant spending; downsizing your lifestyle (trading your expensive house for a modest one); selling a luxury car and buying a good used model; taking low-budget vacations.

Assess your entire budget and create efficient balances between your needs, desires and abilities to pay for things.

You get the idea. Your desire to be financially independent must be stronger than complacency and your “I am broke” mentality. You can break the financial slavery habits but you must decide to change your priorities and develop the discipline to buy what you need and can afford, while still dreaming of what you’d love to be able to create in your life.

Don’t Borrow More Than You Can Afford

Having a lot of debt through mortgages, car loans, student loans and credit card balances restricts your choices and limits your opportunities to borrow money to pay for something essential in your life.

Because of the recent real estate crisis in the United States, millions of people got burned because they ended up with under-water mortgages when the values of their houses dropped drastically. Most of these homeowners couldn’t sell their properties to repay what they owed even if they wanted to. Foreclosures devastated a lot of families that got caught up in the American dream of owning their home, even if they hardly could afford it.

When you borrow money from the bank to buy a new car or a house, you don’t really own it—the bank owns it until you pay off your loan. What you do own is the loan as well as the responsibility to pay both the balance and the interest rate on the loan.

The common sense approach is to purchase a car (avoid leasing a car for personal use); use a debit card or pay your credit card bill each month in-full; pay cash for assets that don’t appreciate over time (car, appliances, TV); rent an apartment or a house until you have enough savings to buy it with a low loan-to-value ratio; pay for college tuition by using scholarships, grants, job programs or low-cost student loans.

If you have a lot of debt, work to get your budget to a ‘sleep well’ point—a position when you can comfortably manage your must-pay expenses. When that is achieved, then start planning to own assets that are likely to appreciate over time, such as rental properties with a positive cash flow; precious metals (coins and bars); valuable pieces of art; bonds and stock shares issued by established dividend paying companies.

Next time I’ll continue this VERY important conversation. You must know and practice this stuff because YOU deserve to be financially free!

*Some of the text was taken from my upcoming book “A Shift Toward Abundance”

To Your Health, Wealth and Freedom!

With Love and Gratitude,




Millen Livis

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  • ::Millen has a way of opening up conversations that not only make you feel safe to talk about money, but her questions have been so profound that they have made immediate shifts in my mindset and my circumstances have changed almost immediately too, including more money showing up, but more importantly, more and more opportunities.  I have found new and inspired direction, and am feeling a lot more peaceful and excited about life in general. Millen offers so much value and a solid advice! She is a big picture thinker and it is infectious! Thank you, Millen, from the bottom of my heart and the top of my soul.

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