Building wealth is simple.
Noteasy, but simple.
There are only these four basic rules.
That doesn’t mean it’s equally easy for everyone to build wealth.
Spend Less
Let’s start with the thing you have the most control over: your spending.
Most people in America can spend less, although we often don’t feel that way.
Everyone I know who travels to a poor country comes back shocked at how well we live here.
Most of us have no idea.
Take a look at your spending and find out.
Whether you’re a big spender orcompletely broke, everyone needs a budget.
It can even lead to the next possibility…
Starting a business:Most businesses were started after hours in someone’s garage or basement.
A good place to start may be your hobby.
But as the saying goes: where there’s a will, there’s a way.
All it takes is for the wind to change direction or one little thing to go wrong.
The main difference is the date you get the car.
Put another way: debt is nothing but impatience expressed in dollars.
There are two problems with this.
You end up losing money in interest that you would have received in your monthly savings.
you’ve got the option to’t do that with debt.
The bank insists on getting its full payment each and every month.
Bankruptcy has only one cause: debt.
you’re able to’t go bankrupt without debt.
Put more bluntly: those who takes risks don’t make it.
The same principle applies to wealth builders, and there is no bigger financial risk than debt.
After barely surviving, he resolved to stay away from debt and trade more on his name.
Invest
You either get money from what youdo(job or business) or what youown.
you might learn the more advanced stuff as you gothe most important investing advice is to start now.
You don’t need to be a Wall Street Whiz kid, you just need to start early.
Chances are, you already know about these things.
Most people dobut few realize how exclusive these pillars are to everything else.
Photo byChaiwut Siriphithakwong(Shutterstock).
