This week Lorin shares another inspiring story from some successful students.

This week Lorin shares another motivational testimonial from a successful student.

EBay is one of the quickest ways that I know of for the average person to make some extra money. You will want to start out by selling some things that you have around the house. Try to come up with at least 10 things that you could put on eBay. Commit to getting started immediately. Successful people are also consistent action takers. My students hear me say this constantly. It is important to do and not only learn. There are a lot of people that listen to my seminars and read the books that I recommend. If after learning and obtaining all of this information and you are not seeing the results that you would like to see it is most likely because of a lack of action. So get out there this week and sell some things on eBay.

Don’t make the usual excuses for not doing things like I don’t have the time. When was the last time that saying “I don’t have the time” make you money. Saying that never, and it never will make you money, the only thing that is going to help you to become more prosperous is action. There is a wealth of information on eBay that can help you get started with making money on that website. Simply go to ebay.com and in the top right corner you will see the help tab and a menu item called the learning center. This will teach you what you need to know to get started and at least sell a few items. Make sure that you listen to this week’s conference call. I cover Drop shipping, buying in bulk, shipping costs etc… Remember the assignment this week is to get at least one item posted on eBay. Make it happen, and be ready to share your experience with the class next time we meet!

This is frugality that has become a sickness, we don’t recommend anyone take it this far, but it’s quite interesting to watch. The video is in 6 parts, go to youtube to watch the rest.

What causes inflation? There are two main things that impact inflation and that is the money supply and velocity. Money supply is how much money is in the system. With all the government spending that has been going on to prop up the failing economy there is plenty of money out there. The money supply has more than doubled. The Fed’s balance sheet went from 928 Billion to 2.1 trillion dollars in a very short amount of time. So, why are we not seeing inflation yet? The answer to that is the second cause of inflation and that is the velocity, or how fast is money exchanging hands. There are basically three reasons that we are not seeing inflation yet.

1. Banks are not lending

If you have tried to get a loan recently, you have probably seen that credit is harder to get. Many banks almost died and are now on life support, also known as, the tax payer’s money. After experiencing this near death experience many banks are a bit nervous about extending credit to a consumer that is struggling to get by.

2. The unemployment rate.

Unemployment is at levels we have not seen since the 80s it and if you include people that have stopped looking for jobs and part time workers, that number is actually higher. Unemployment is currently at about 10 percent.

3. Consumers are not spending money

Many people have seen their home and stock values drop like a rock. People are still a bit nervous about spending money.

These three things are holding inflation down. What will happen once the economy starts to recover and these three factors change? Once those three things start to happen? We will see inflation. The Federal Reserve could cut back on the supply of money in the economy to slow down inflation but that would also slow down the recovery.

This week Lorin shares another great story from one of our many successful students.

I want you to take a minute and write and answer to the following questions:

Why is debt a form of bondage?

What would happen to a business if they did not know how much money was coming in its doors and out its doors?

What would happen to you if you did not know what was coming in and going out?

Why is it such a big deal that you track every penny that comes in and goes out?

What is the spending compass and how can it help you?

What does cash flow mean?

What is the equation for Net Worth, and why is it important?

These are all great questions that I want you to ponder and then write down your answers on a piece of paper. After you have all of your answers down, I want you to listen to the audio 10-06-09 and review your answers again to make sure that they line up. Make sure you are consistently doing the small things. Those seemingly small things add up to the big successes! Make it happen NOW!