In order to experience financial gain it is essential that you pay yourself first. This means putting yourself at the top of your financial list. To develop prosperity it is essential to establish a long term account dedicated to your future. This account is your financial independence fund and should not be touched until you have reached your goal of financial independence however you define it. Add money to it regularly, weekly, monthly or annually. Allow it to accrue. This is your long term nest egg for a financially secure future. Even if complete financial independence seems an unrealistic proposition we benefit by paying ourselves first.

In addition to your long term financial independence fund you should ideally have at least two other accounts. On in your emergency fund which has two or three months income set aside and the other is your normal checking account to which you make deposits and from which you make payments from day to day living expenses. By having an emergency fund you can pay for unexpected expenses that come up such as an unanticipated medical bill or car repair without touching your financial independence fund.

Still another account you may wish to establish is one designated for your future world service. Say that you would like to eventually open up your own business and you don't have the capital to open a business then open a special savings account and which will be your "project omega fund". This money along with some initial products for your business will then become your starting capital for what eventually will become your own business.

If you sincerely dedicate a portion of your life's capital for purposes that benefit the world, adding to it as you can opportunities will mysteriously come your way. Anyone that has ever owned a business knows that if you can't operate at a profit your business is doomed. Long term financial prosperity is always reduced to this simple equation for successes your income must be greater than your expenses.

It appears that this elementary financial concept is entirely ignored or forgotten by many people today. It seems frugality is not valued any longer. In the era of credit cards many people believe they can have everything they want instantly. The result has been the creation of a consumer debt of more than ten billion dollars with more than a million people declaring bankruptcy each year.

There are many current economic distortions contributing to these trends including growth in white collar crime and an expanding mania for litigation. Nevertheless the problem is caused mainly by people spending money they don't have. A person with a small income who saves and invests a portion routinely is building on a more stable foundation than the one who earns a great deal but spends more than they earn thus growing gradually into debt.

It is not what you earn but what you keep that counts. As far as possible keep any long term debts to major investments such as your home and car. For everything else pay as you go. Use credit cards like charge cards and pay off the balance each month. This way you know that you will have peace of mind as well as financial stability.