Is it a coincidence that many of the world's most successful people invest thousands of dollars, plus countless hours, on personal development and education? Did the achievement precede the investment or did the investment precede the success? For most adults in America reading ceased the day they graduated from high school or college, but it's fascinating to note that only homes worth on average in excess of $500,000 have a library.

America's foremost business philosopher, Jim Rohn advises that we should spend more time on developing ourselves than we do on developing our business or career.

The traditional pattern of achieving success, i.e. Studying hard in school, specialising and following a career has been espoused and followed, largely with no question for the past few generations. As children we may have dreamed of being astronauts, sports stars, singers and so on, yet we are persuaded to write off these dreams and talents as foolish childish fantasies and encouraged down the well trodden paths of conforming and security. But where do these paths in reality lead? The promised land of milk and honey? Not necessarily, certainly not in the majority of cases and its definitely not guaranteed in these most uncertain of times.

We are encouraged by parents, teachers and other well meaning influences to stay in school and get the best education we can. This arrangement serves to filter us into colleges, universities and with any luck well paid careers. We then earn, splurge, earn a bit more and spend a bit more. After all, don't we deserve a few of life's luxuries? All that study, the long hours, hard work and delayed gratification? So that new notebook computer or widescreen TV is more a reward than an indulgence, more a requirement than a luxury. So too cars, we want the best we can afford, it's more cost effective is it not to finance a new model rather than chance the associated repair costs or an older one. So it begins the earn-spend-borrow-repay lifestyle cycle which has trapped so many of us in the western world.

Robert Allen, best-selling author, likens it to trying to walk up the down escalator. You have to keep moving just to stand still and if you should ever stop, the moving staircase will take you right back to where you started, i.e. the bottom, or even worse, the basement.

A bleak picture perhaps, but maybe we all need a little reality check now and again. But what is the answer, the keys to success? How can we get ahead, switch off the escalator or ultimately turn it in our direction?

In the short term the answer is to spend less than you earn and save the difference - not very exciting but this alone will ensure that every two steps forward will result in only one step down. By prudently saving and investing even relatively small amounts on a regular basis, many people have achieved financial freedom and reached the top of their personal success escalators. Even Einstein considered compound interest as one of the great wonders of the world.

The Power of 72

There is a formula to calculate the time it would take to double your money if invested:- divide the current rate of interest into 72. For example if the rate you were receiving was 4% it would take compound interest 72/4 or 18 years to double your money. Consider however a much higher rate of interest such as 24%. At this level it would only take 3 years. Where can I see a rate like this you may be asking, well not on your savings but how about on your credit cards? Compound interest works both ways and at these levels you will double your debt in just 3 years (allowing for minimum repayments etc).

Spend less and save more may be the key to success - but it's hardly going to get your pulse racing and have you tearing down to the bank to open a savings account, especially with interest rates hovering around zero. But it's a start, an intention, the commencement of a good habit, the first steps on your road to victory.

To really turn the tide in your favour you need to think about generating extra or multiple streams of income. Think about it, how would you like to generate a steady, regular stream of money coming into your account every week? Not from an extra job or additional hours but by simple proven systems that with a little initial effort will add up to a major impact on your life for now and the future. After all without the wasted energy and time of negotiating the downward moving staircase you are free to focus on the other goals and areas of your life.

So how then do we reach this desired state, this nirvana? To quote JD Rockefeller "I have ways of making money that you know nothing of".

Earlier I mentioned bestselling author, Robert Allen - his outstanding book 'Multiple Streams of Income' explains 12 simple, proven methods to begin to turn the tide and the escalator in your favour. Without doubt it is one of the most impactful books I have come across in the past decade and cannot recommend it highly enough.

In the book he explains the most frequent ways of generating supplementary earnings as coming from four money mountains; starting your own business, real estate, the stock market and the internet. Particularly positive is that you can begin to learn while you earn in your current job and develop the multiple streams over time.

One great place to start the journey to financial freedom is to cultivate a success mindset. Read and listen to inspirational materials that will not only educate but begin to imprint the endless possibilities upon your subconscious mind. There is certainly more material on the subject of success today than at any time in our history. So don't delay, when will now be a good time to get started? And always remember that it's your attitude that dictates your altitude!