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TRUMP UNIVERSITY WEALTH BUILDING 101

develop. Experts in human behavior tell us that if a person does something on
a regular basis every day for 21 to 28 days, that person develops a habit. If a
person exercises every morning for three to four weeks, then exercise becomes
a habit for that person. If a person resolves to break a bad habit and sticks to
that decision, the odds are very good that he or she will be able to overcome
even the most harmful of habits—so be encouraged.
I want to help you develop the successful habits you need to become

financially prosperous. Like every aspect of life, financial growth is a journey
that begins with a clear understanding of where we are today, so we need to
start with an honest assessment. When I plan a short trip, I often use mapquest.
com. I enter my location, then my destination, and mapquest.com calculates
the best route for me. In this chapter, we are going to do a fi nancial mapquest
search by entering our current financial location, and then taking the necessary

steps to reach our destination.

The first step in this process is putting a price tag on the life you really
want. It’s reality-check time. I want to encourage you to take a close and honest

look at where you are financially. Sit down with pen and paper. Ask yourself:

What will it take for me to become fi nancially free?

Let me explain the question. Your ideal life comes with a certain price
tag. In a capitalistic society, freedom costs money. To spend your time doing
what you want, you will need to have a certain amount of money, or income
stream, to pay for the financial lifestyle you want for you and your family.

This is where the action begins. You need to get a very clear and honest
picture of where you are financially, so that you can calculate how much

money you will need to enjoy life and do what you want passionately to do.
Start with your monthly expenses. Then determine how much income
you have, and how much you will need to replace, to become fi nancially free.
Take some time to figure this out. The numbers you plug into this calculation

need to take into account everyone who depends on you. Exhibit 5.1 shows a
partial list of the expenses you need to consider when determining your

personal financial income. You can download your Personal Financial
Statement at www.trumpuniversity.com/wealthbuilding101 .
This last number may look intimidating, but remember, you need a clear

and honest financial location, so you can reach your fi nancial destination.

The figure can be reached in a lump sum of capital, as demonstrated, or offset
(that is, reduced) by other sources of income and/or reducing expenses (spe-

cifically debt). For most, this starting required capital will reduce as you take
better control of your income and expense streams.

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