How to build a money magnet – Step by step instructions
In this article, you will learn how to build a money magnet. You probably have people around you who constantly attract new business, sales, and money in general. They merely draw wealth, though they have to do little for it. How could this be? No doubt some of them entertain a money magnet.
How does a “money magnet” work?
Why does the money magnet work?
Fatal error with money magnet
What happens if you disregard the money magnet
How to see the Magnetic Money
How to create a cash magnet despite debt
There are several ways to attract more wealth. Yet setting up a money magnet is one of the most powerful ways.
Money magnet? Sounds nonsense? A money magnet appealingly magically to attract even more money? How can this be? This has been clearly proven thousands of times by trials and success reports. The money magnet has two drawbacks:
It is so simple it can be easily understated.
Precisely because it works so well you start destroying it.
How does a “money magnet” work?
Take 10% of all money inflows on your private account (or 10 % of the contribution margins as a self-employed / entrepreneur (= the income a business makes after deducting the cost of production, but before covering the general or fixed cost)) and put them in a savings account.
You NEVER, NEVER, NEVER, NEVER touch this-you’re not even taking a euro out of that. “Great story …” you probably now think to yourself.
But I ask you to read through before you form a final judgment. There’s a lot more on this to know. You install the magic money magnet when you set up this special account (reserve account you never touch, to which you transfer 10% of all income or contribution margin
If you’ve read some financial books already, you’re saying now: “Great, many have written that before you …” People have described the 10 percent, but not the fact that this is is a money magnet. Neither why they work and why they are usually destroyed.
Why does the money magnet work?
I read those financial books as well, and it said you ‘re getting rich through the reserve account (“You pay yourself first”). This is incorrect. I would like to share with you the advice given me by one of my mentor:
“Surfer, this is not about getting rich from these reserves in any way. These reserves ensure more and more money is attracted if you build them up in this way. I asked him what he meant: “Look, there are universal laws that we can not understand with the technologies of today. Gravity, too, existed long before Newton discovered that.”
It seems to be implanted in the minds of people that money is always scarce and is constantly running away from them. By installing the money magnet, and never taking a cent down, you end up with an account that’s just going up, going up, going up and getting more. You probably already heard the saying ‘money is coming to money.’ Here it is.
And this is how it appears to be here. This account changes the mindsets of people and ensures that they do not close themselves off to money but attract it.
I started installing this money magnet as soon as I was back in my hometown after a business trip. Before I set up the money magnet, Business then was doing okay. I made an acceptable deal of money, but it was exhausting and the money always seemed tight. So I went here every week strictly and looked at what contribution margins or cash receipts I had and distributed 10% of them every time. Even though I sold an old chair on Ebay for 100 euros, I put 10 percent aside.
Three years later, I had so much money in my accounts (I don’t mean in the money magnet account, that was all right, but the money was piling up on all accounts) that I made the first and fatal mistake:
The fatal error with your money magnet
I thought to myself: “Why even keeping on building up the money magnet? Either way I have so much money in my account that I can’t even spend it. By the way, a business friend of mine who began with money magnet at the same time told me he observed the same phenomenon: an incredible excess of money. And he made the same train of thought that led to the same mistake.
For both of us, there was almost no money left three years later. As magical as it went upstairs (there was a lot of work behind it, of course), now the bad luck seemed to stick to my hands somehow. I just couldn’t understand how my business life could change from very smooth to complicated, and unfortunate.
One night in bed, I remembered my mentor’s words. That evening I started digging out and comparing my statistics on sales and earnings. I did that in relation to the times when I set up the money magnet and stopped supplying it with “energy” (which I wasn’t aware of at the time). And you could see it in the statistics, absolutely. Shortly after I set up the money magnet, revenue and profits grew. They started wearing off, as soon as I stopped. Total timing, no doubt. I asked my business friend the next morning to show me his numbers too, and I was stunned. The exact same pattern, identical pattern.
I started to reinstall the money magnet immediately, and provide it with energy (10% of my income, each month), of course. Naturally, my business partner also did the same. And four years on … What are you thinking? Four years later, exactly, there was once again so much money that it was no longer worth building up reserves. But I was smarter this time, and I kept wiring 10% of my income to my money magnet account. I even threw my account access credentials into the shredder in order not to be tempted to touch this account ever again.
What if you neglect the cash magnet?
A story says a thousand words. It’s so important that you actually internalize the concept completely. In 2012 I gave the tip about the money magnet to another friend and business partner.
What I really appreciate about this friend is that he’s one of those people who directly get things done. The money magnet had been installed no sooner said than done. He told me the following story, a year later: “Surfer, what happened is unbelievable. I set up the money magnet and I did it at least half a year, just as you said. Then I had so many sales all of a sudden that I couldn’t even forget to continue building up the reserves. I just didn’t have the time to look after the transfers.
When things got a little quieter sometime two months later, I remembered I hadn’t built up any reserves for two months. I’ve started to make up for this immediately. Two more months passed. It was then the end of the year and time for an analysis of the sales statistics. I looked at the numbers and wondered about two things:
first, there was a steady rise in sales
second, there was a two-month-long dent in the middle of the year.
I tried to find out why that could have been, and from the other numbers, I couldn’t understand it at all Suddenly I got it. When were the two months I had forgotten to build up the reserves again? Bingo!-Bingo! During this period the hole was exactly that. He’d just skipped two months, then picked up again, paying no particular attention to it. Only in retrospect did he wonder about the dent and determine the timing of the money magnet again.
How to see Magnetic Money?
Thus the money magnet appears to be like an electromagnetic money magnet. It gets its “energy” from the regular supply of 10% into the account. I call the money magnet “taboo reserve” internally in my business. Taboo reserve because taking one euro from this reserve is absolutely taboo, and because letting the energy supply “die down” is totally taboo.
Remember, “there are universal laws that we can not understand with the technologies of today. Gravity, too, existed long before Newton discovered that.”
How to create a cash magnet despite debt?
If you already have debts you pay off, you’ll probably think: “Of course, after the debts have been paid, I’ll set up the money magnet because you’re getting almost no interest on the credit accounts. I pay my debts first because the interest on the debt is much higher … You’re absolutely right, in mathematics.
I recommend, however, in order to profit from the law of attraction of the money magnet the following: Use 5% to pay off debt and 5% to set up the money magnet. Money magnet doesn’t work through arithmetic, debt and credit interest, capital gains tax, etc. It is simply an account that has money in it, whose balance is constantly growing and ensuring more money comes in.
Mathematically, setting up a money magnet seems like losing money (inflation). However, in practice, you will find a couple of years later that interest in math, credit, and debt is not everything. And that the attraction created by the money magnet will in the end outweigh the loss of capital by the inflation. Building a money magnet is a great step to financial freedom.
I am not a financial advisor. I also do not guarantee anything above to be correct. I would also not recommend you to apply a money magnet if you already struggle to feed your family. However, if you feel you can afford it, it can be a good idea for you to simply try and see what happens.