2006-09-16 19:44:49 · 12 answers · asked by tkrofssik 1 in Business & Finance ➔ Personal Finance
Set aside a small portion of your check, say 5 or 10%, into a saving, 401K, IRA or some other type of savings account. At first it won't seem like much but over the years, the amount will truly increase a great deal. Its best to have the money automatically deducted and sent straight to the account, that way you don't miss it. Another option is purchasing your own home if you haven't already. Real estate nearly always increases in value and you don't have to pay rent.
2006-09-16 19:50:20 · answer #1 · answered by jack w 6 · 0⤊ 0⤋
The one answer you probably don't want to hear is HARD WORK! Are you working 12 hours a day? If not, why not? That extra money sure would come in handy I'm guessing. So the answer is that you take on a second job or perhaps a third job and take all the money that you make from these extra jobs and pay off your debt and nothing more. No vacations, nothing fun, etc. I know it sucks, but in time you will get ahead.
2006-09-17 04:04:39 · answer #2 · answered by AirDevil1111 1 · 0⤊ 0⤋
Have a plan and stick to it. Don't spend money you don't have. Save for the future as early as possible and stick to it. Educate yourself with advice from millionaires not financial planners. Don't buy what you don't really need. Save money on items you do need by shopping around. Negotiate with cash instead of credit. Don't debit card yourself to death because plastic cards were created to take the emotion out of purchasing. Stay away from commercials that use emotion to get you to part with your money (imagine yourself in a sleek new car at only pennies a day). Work a part time job (or business) to keep you out of the stores and have money for a savings plan for the future. The future will be here before you know it. Read books like "Finish Rich" by David Bach, "The Road to Wealth" by Suze Orman, and any book that will help to educate you about money. Get those books from the library. Get a business going that will allow you to take tax deductions for supplies, internet fees, and other expenses that you would have to pay out of your own pocket. Team up with a qualfied accountant whose fees are deductible and can help you make more money to pay him with. Don't get suckered into insurance or investments where you are talking to sales people. Sales people are nice people but they don't earn unless you buy. With that said, we are all salespeople in one way or another. Back to my first point: Have a plan and stick to it. Start TODAY!!!
2006-09-16 21:46:59 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You will need to make a deliberate effort to improve your knowledge about finances - until you reach the point when you are able to consistently make good ,responsible and sustainable financial decisions.
You need to make a new hobby. Start reading books, and articles about money. Look to earning more and spending less. Make it a real priority to get ahead - and you will.
But if you don't actively make it a value and a priority - then it just won't happen by itself. Think of it as learning another language.
One book won't do it. 5 books won't do it. You need to start and keep learning until you are rich and old.
2006-09-16 20:57:57 · answer #4 · answered by J. C. 6 · 0⤊ 0⤋
Build savings, build available credit but don't use it, and work wherever you can get the most money - and then maybe do something on the side to make more.
As soon as its at all possible invest in something that is safe and fairly certain to earn money for you, and as soon as you can, invest in something else the same way.
The only thing to ever borrow money for is something that will either earn you money or that will otherwise contribute to your financial stability (such as buying a home and gaining equity rather than paying rent and gaining nothing).
2006-09-16 19:59:03 · answer #5 · answered by WhiteLilac1 6 · 0⤊ 0⤋
Your son is entitled to DLA so i do not understand why you should sense responsible or ashamed about making use of for it. Sod those those who've a pass at you for claiming reward. they could attempt raising a disabled toddler and see for themselves if their burden is lightened somewhat through claiming DLA. even if you're refused on software relies upon on the way you fill interior the equipment. We were given DLA for our 8 year previous son, who has Asperger's, on first pass. an excellent variety of alternative individuals, even if, have had to allure earlier they get it. I continually imagine the DLA attempt it on and if human beings won't be able to be bothered to allure, then they have not were given to procedure their purposes. once you note, in case you're uncertain of a thanks to fill it in, get help from CAB or welfare rights. And take a even as filling it in; that's totally tiresome and lengthy winded, and do not depart something out. strong success!
2016-10-16 01:02:42 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Suze Orman and the Motley Fool are both good websites to check into. Suze Orman has her own TV show on CNN I think, and she contributes to Oprah magazine about financial management and freedom.
2006-09-16 19:47:38 · answer #7 · answered by susie 4 · 0⤊ 0⤋
easy answer but nobody does it. No matter how broke you are - save 10% of your net income and never never touch it. You will retire a multi multi millionaire. No joke.
2006-09-16 19:50:45 · answer #8 · answered by Anonymous · 0⤊ 0⤋
pay your bills /all bills on time and live in the means of your income and say no to credit cards plane and simple now if i would just do that
2006-09-17 00:07:56 · answer #9 · answered by runninglate 2 · 0⤊ 0⤋
BUDGET
It's the only way. Nothing else works.
2006-09-16 19:52:40 · answer #10 · answered by Anonymous · 0⤊ 0⤋