You can wait. You can watch… but you’ll never reduce your credit card debt this way. And part of “monetizing your niche” is having a plan to get out from under the financial burdens you feel are holding you back from “pursuing your passion for profit.” The process I put into practice was created by Dave Ramsey, author of The Total Money Makeover.  It’s called “The Debt Snowball,” which frankly runs counter to most financial advice. Ramsey says you DON’T pay off your credit cards evenly, or the highest one first, or the one with the highest interest rate. Instead, list your credit cards from smallest to largest, make the minimum payments on all but the smallest, and attack that one with a vengeance with whatever extra cash you can bring to bear on it. Like trying to lose weight, Ramsey’s method gives us small wins, psychological satisfaction when we look in the mirror, and renewed energy to make better business decisions and more sales. The Debt Snowball is just one wealth building strategy by Dave Ramsey as discussed in the February issue of Success. Just wait... and watch yourself lose debt!

I’m on the road to great wealth. It’s a journey and a study. Here are some of the things I’m finding out: Billionaire Ken Fisher in his book, The Ten Roads to Riches, says there isn’t just one way, nor 100, to getting rich, but just 10, among them entrepreneurship, inventing and innovation, and real estate investment. Robert Kiyosaki and Donald Trump talk about creating multiple assets that spin off cash whether you are working or not. T. Havr Eker in Secrets of the Millionaire Mind speaks about building one’s net worth. Whomever you study you will find several common ingredients to wealth building: multiple streams of income, leverage, assets. I recently started collecting top grade silver coins with my friend and coach Erica Combs. I invite you to take a look the Numis Network, which is also a great home-based business opportuniy. And I invite you to share your top wealth-building tip as you pursue YOUR passion for profit.