WEALTH BUILDING TIPS AND TRENDS

Do you like to get a good deal on a product or service that you buy ? Do you feel good when you pay less for something than someone else you know ? If you are like most people, you would say Yes to both of the above! Human Nature Yes, it is human nature to get a feeling of satisfaction when you know that either someone else paid more or that you were successful in negotiating a price down from the sticker price. Most people, however, only experience this feeling occasionally when something goes their way. Most of the time they pay the full price on everyday items without even questioning the price. This is the way that our modern retail system is designed. Make It a Habit There is another way! Why not try to get the very best price on everything you buy ? If you do, you can put your savings towards building your financial future ! An old saying once said that a penny saved is a penny earned. Although this saying is very outdated, you could say that a dollar saved is a d...

Have you ever wondered how big corporations ever got started ? What do you think led to their success ? Well, all businesses started with an idea and the desire to turn that idea into profits ! Your Life as a Business  You too can become a big successful business. Think of your business idea as investing in other businesses in order to give you an income. You can even imagine this flow of income as tiny employees that you hire in order to make you more money. The best thing about these tiny employees is you don't have to pay them or give them any benefits. Also, they will never call in sick or require a vacation. They will be working for you 24 hours a day, seven days a week without the need to take a break. Basically, the more employees you can hire (the more money you can save !) the faster your growth of new employees will be. These employees will be put to work for you (money invested in other businesses) in order for you to make more employees, and so on and so on....

Do you know the difference between good debt and bad debt ? Do you know how to make debt work for you ? The wealthy know the answers to these important debt issues, you should too ! Bad Debt  Bad debt is defined as any debt that you incur to purchase something that you do not receive an income from. Most consumer debt falls into this category. Credit cards, car loans, lines of credit, even most mortgages fall into the bad debt category. Good Debt  Good debt, yes you probably guessed, is any debt that you incur to purchase an income producing asset. Investment loans, brokerage loans, mortgages for investment properties, etc. fall into this category. Kill Your Bad Debt When it comes to building wealth, the key is to eliminate  (or kill) all of your bad debt. You cannot possibly get rich if you have to continually carry around the ball and chain of bad debt. Your income will continue to make someone else rich, namely your bank or other financial institutio...

Are you worried about losing your job ? Are you worried about what will happen if you are unable to pay your bills ? If you are, you are not alone ! This is one of the top financial concerns of individuals today ! Your Main Income Stream Chances are if you are like most people, your job is your main source of income that you rely on to pay your bills and have a little fun. The reality is, even if you take the necessary steps to become wealth, you are going to need a job for quite some time yet. This means that you had better enjoy what you are doing and take the necessary steps to protect your income. Enjoy Your Work Many people I have talked to hate their jobs. My advise for them is to find a job or career that they can actually enjoy or at least not absolutely hate. This will not only make their life much more tolerable, but they could actually be seen by others to actually like what they are doing. This could create interest by their current boss and actually lead to adv...

Have you ever driven anywhere without knowing where you planned to go ? Have you ever set out to do a job without knowing the desired outcome ? Chances are you answered NO to both the above !  At least I hope so ! Plan Your Work Before starting on a project you should always make a plan of the steps you need to take to accomplish your desired task. You also need to have a method for measuring your results versus what you planned. Designing a financial improvement project is no different. In fact it should be easier than most other projects because everything can be measured in numbers. Let me use an example to explain this point.  Let's say your project is to get out of debt by a certain length of time. You already know the amount of your debt and the length of time to accomplish your project. You simply divide the debt by the time to know how much you must save out of each paycheck etc. More complicated projects will require steps. These steps should be planned ou...