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2006-11-15 21:44:59 · 14 answers · asked by Steven L 1 in Business & Finance Personal Finance

14 answers

It's actually simple to get rich.

1. Avoid paying interest. This means pay as little as possible, only borrow money when it's to your advantage to do so, such as for a home or business. Be wary of buying a new car at 0% interest, as "there ain't no such thing as a free lunch", you may be paying the interest in the sticker price.

2. Avoid paying rent. It is always cheaper in the long run to own than to rent. Were that not true, the owner couldn't afford to rent it to you. This is true for anything, whether it's a home or a car or a television set. Only rent when you only want a short term use, such as a hotel or car for an out of town trip, or an expensive machine you only need for one day.

3. Avoid taxes. There's nothing illegal in minimizing your tax liability. Most people that actually have to file and pay taxes could profit from professional advice, more than the advice will cost.

4. Add value. That means three broad things; 1) improve your home's value by taking care of it and keeping it up 2) improve your community value by supporting local projects like road cleanups, community garden projects, community center, high school, etc 3) be a better worker; strive to need less supervision, show up on time, get your work done, get better at it, qualify yourself to supervise someone who does your job.

5. Be consistent. None of the preceding are one-time things. You have to think about them every day.

I said it was simple, and it is. It just isn't fast or easy.

2006-11-15 22:03:52 · answer #1 · answered by open4one 7 · 0 0

Build a better mousetrap and the world will beat a path to your door. Seriously, make a vast improvement on an existing invention.

2006-11-15 21:48:20 · answer #2 · answered by i luv teh fishes 7 · 0 0

If any of us knew how to get rich do you honestly think we would be sitting on here answering questions?? No!! We'd be out spending!! x

2006-11-15 21:47:16 · answer #3 · answered by jo 4 · 1 0

well i wish i had the answer to this question. my daughter thinks money grows on trees......if only!!
the way people seem to be getting rich these days is to become famous for doing absolutly nothing and appearing in papers every five minutes!!!
realistically the only way to get cash is to work your ar*e of whicj i dont think is very fair, i think we should have money trees in all our gardens like my daughter thinks!

2006-11-15 21:51:20 · answer #4 · answered by Anonymous · 0 0

blow people off for £30 a time with no jonny. If you give 50 blows a day seven days a week, thats £10500 a week £42,000 a month, £504,000 a year if you done it for 2 years youd be a millionare!

Go on son
Remember me when you make it (the money that is!)

2006-11-15 21:53:07 · answer #5 · answered by Anonymous · 2 1

Find a rich man (or woman!!!) and look after him/her REAL good!!!! :-)


"Wealth is the slave of a wise man and the master of a fool".
Seneca (5 BC - 65 AD)

2006-11-15 21:57:16 · answer #6 · answered by niccilicci 5 · 1 0

Go and check out some of the many articles at http://wealthbuilding.hammocksurvivalguide.com/
It's got some useful information.

2006-11-17 03:57:42 · answer #7 · answered by Colin D 2 · 0 0

Well if you like typing on the internet and doing things of that nature check out http://www.mylot.com/?ref=itsokrelax and ask them all the questions you can think of!

2006-11-15 21:46:29 · answer #8 · answered by Anonymous · 0 0

Making lots of money!

2006-11-15 21:50:48 · answer #9 · answered by Nepali 2 · 0 0

Have the CEO of EXXON adopt you.

2006-11-15 21:50:25 · answer #10 · answered by bill a 5 · 0 0

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