OH! Magazine - Australian Version September 2018 | Page 35

10 PER CENT TOOL
FOR FINANCIAL SECURITY
Elena Blanco shares the one simple practice that can turn your finances around.
hree years ago, Elena Blanco was
a single mum, with a mortgage, a
car loan, credit card debt and a heap of
financial stress. She earned a good salary,
but spent it as fast as she received it,
leaving her struggling from pay cheque to
pay cheque and living in constant fear of
losing her home.
T
Today, Elena has multiple income
streams, owns her home outright, has
paid off her debts, has built a generous
savings account and feels financially
secure for the first time in her life.
As a personal wealth mentor and Right
Riches for You facilitator, Elena is sharing
the simple-yet-powerful tool that helped
her turn her financial situation around,
which she calls ‘10 per cent tool’.
In theory, the ‘10 per cent’ concept is
easy to understand and even easier to
implement. For every dollar you receive,
you take 10 per cent and keep it. Don’t
pay bills with it; don’t buy anything with
it. Keep it in cash, or similar, just so you
have money.
Despite
this
simplicity,
Elena
acknowledges that for many people, this
practice can actually be incredibly
difficult to follow. Of all the financial tools
taught, this one causes the most
resistance. Ironically, it’s also the one
that, once applied, facilitates the greatest
financial change.
Elena believes that most people resist the
10 per cent tool because of unhealthy
pressures and expectations. Interestingly, once you are used to
the sense of having money, you will
find that you want to spend less.
Our society is based upon the idea that
expenditure makes the economy grow and
we are given many incentives to spend,
spend, spend. Basically, we are trained to
put value in spending and paying. 3. It heightens your financial awareness.
When you start focusing on 10 per
cent of your income, you start paying
attention to the other 90 per cent of
what you earn. All of a sudden, you
begin to see where your money can
work for you.
When I encourage people to hold onto 10
per cent of their income the question I
hear most is ‘What am I going to do with
it?’ This only highlights the fact that they
are programmed to spend. The point is
you’re not going to do anything with it –
you’re going to have the money. And it
will feel great!
According to Blanco, applying the 10 per
cent tool is beneficial in three ways
1. It helps you reaffirm that you are the
most important person in your life.
‘Whose life are you living?’ Usually,
even if we are living our own life, we
tend to pay ourselves last. When you
start honouring yourself with that 10
per cent, you tell the rest of the world
that you’re the most important
person in your life.
2. It familiarises you with how it feels to
‘have’ money. What is the difference
between a rich person and a poor
person? A rich person has money.
This tool is there to help you become
someone
who
‘has
money’.
Once your 10 per cent accumulates, you
may want to convert the cash into long-
term investments.
We’re told a house is an investment; a car
is an investment, but these things actually
cost us money. So instead, I recommend
you buy things that will add value over
time and are easily portable such as gold
coins, jewellery or precious gems. You
can sell these things easily if you want to,
so you have the security that comes with
that. The 10 per cent tool is about
potency and power. Give it a try!
Elena Blanco
Elena has a Masters in Economics from
Soborne III in France, a Diploma in
Strategic Negotiation from CBi in the
United Kingdom and a Diploma in
Strategic Negotiation from ITESM in
Mexico. She is also a Certified Facilitator
for several Access Consciousness ® special
programs, including Right Riches for You.
OH! MAGAZINE ( SEPTEMBER 2018 )
35