You’d expect me to put in this blog all the advantages the rich get, right? They get the tax breaks you and I don’t know about. They have the ear of congress so they get the big bail out. They can afford to wait before selling an investment (what’s that?) without losing a ton of money because the market is weak this month, this year, this week.
Nope. I’m going to say something different. The rich wait to purchase things they want until they have built a pile of money. Don’t believe me? Try it.
Want a new car? Save up the actual payments until you can pay cash. You will save the loan and all that interest. That means they money goes to: You.
Pay yourself first every time you get paid and you will find that a strange person indeed is getting wealthier right before your eyes: You.
Do your own research on savings and where to get the best interest. Then, focus your efforts on getting as much money – regularly – out of your checking account into savings. You’ll find the person getting richer is: You.
Take an hour of your day and review how you got to where you are in your life. Someone I know says “You are the sum of all your choices.” Okay. Now, we’re going to choose to become wealthy. No, it won’t be overnight, but guess who it can happen to: You.
What you will need:
1. Pay down debt.
2. Emergency Savings Fund – Steady savings each payday.
3. 401k and/or an IRA (Roth if you qualify).
4. The ability to say no.
Get started today. Spend one hour a day working for yourself. Look for additional ways you can make money – money you can save.
Don’t get your value from the things you purchase and don’t get your value from your paycheck. That is NOT your money. Your money is in savings. Get this right and the new rich will be: You.
Congratulations – and good luck.