Here is a basic a guide to build wealth . There is no secret to creating wealth. These methods I will outline have been used and proven over time to work. Start applying these strategies now. It does not matter how much money have. These methods will increase your net worth.
First spend less than you earn. You are not going to build wealth if your spending more than you do make. Try never to spend more money in a week than you would make in that week. Living above your means you wasting money on Credit
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Pay yourself first. Save as much of you income as possible. Put 4-7 % of your money in your company 401k plan . Over time investing in a 401k or company retirement plan is a great way to accumulate wealth.
The best way to control your spending is to have a budget. In addition, write down what you spend on. When you know exactly what you spend your money on you can find things that you should stop spending on and ways to save.
Carry as little Credit Card debt as possible. One of the most expensive things you can do is borrow money. Use cash when possible. Save for big ticket items like TV‘s and vacations. If you must use credit, use it for real emergencies only.
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Never buy a brand new car. It is better to buy a car that is at least 2 years old. A car will depreciate quickly, and depreciates the most in the first few years Don’t buy an extended warranty if you still have a manufactures warranty.
Invest in the stock market. You do not need a lot of money to get started. If you do not know what to invest in, find products and brands that you use and see if you want to invest.
Take care of your Health. If you have unhealthy habits like smoking and drinking find a way to stop. Smoking is not only unhealthy but it is expensive. A gym membership is not an expense it an investment
Follow this simple guide an you will have more money and assets in your life
For a more in depth wealth guide visit my website.
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About the Author
Robert resides in Boston Mass USA. I have a very interesting blog full of useful information. Topics range from Personal Improvement, Personal Finance and Ways to Save and Make Money. Please visit my blog at www.how2becomewealthy.com