Any practical advice? I believe it's not how much you make, but it's how much you keep.
2006-12-02 04:42:36 · 9 answers · asked by Anonymous in Business & Finance ➔ Investing
work work and work harder. and save of course.
2006-12-02 04:46:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It is absolutely how much you keep !! Sooooo many people think they simply need to make more...when really they just need to stop spending what they DO have or buy things that make them more money rather than cost them money!
Everyone could downsize their monthly bills and save hundreds !! Few are willing to make the call and become wealthy. They want a quick fix, not something over time. Too bad,,they should of started years ago and would have been independent by now !
aaaaaaaaaaaaaagh life is good!!
2006-12-02 07:22:02 · answer #2 · answered by Kitty 6 · 0⤊ 0⤋
Make a choice to put a certain percentage into savings ( do not spend the $$$ you put away until you absoulutly need it. ) Put a certain percentage into an account for spending, and so on. If you own a credit card pay it off first thing. Do not let interest pile up! Also, have a limit on what you spend, " you can't spend what you don't have". Make sure if you recieve a windfall of money ( a large amount of money comes to you unexpectedly ) pay off debt. Or even better, don't let yourself accumulate debt in the first place.
2006-12-02 04:50:28 · answer #3 · answered by ulu2011 2 · 0⤊ 0⤋
write down all you expenses everytime you take out your wallet. do this for at least a month. after a month go back and look at how you spent your money.
Once I had this information, I made a budget in the following priority- you need to shift this to suit your needs
1. housing
2. utility budget- this means turning down the thermostat in winter and turning it up in summer to save energy and money
3. food
4. car expenses- gas, insurance, etc.
5. get rid of the cell phone
6. get rid of the cable or dish network
7. savings- yes thats right once I knew I could support my life savings was at the top of the list
8. okay get the cell phone or tv if you have to
9. other entertainment
10. if there is any money left- get the same old junk- latte from starbucks- beer-
There is a latte factor- if people would save $4 per day instead of giving it to starbucks at the end of the year, they would have $1200. if this money were to be invested year after year for 20 years- it would total like $50,000 at some medium interest rate
2006-12-02 04:57:14 · answer #4 · answered by MrWiz 4 · 0⤊ 0⤋
OK, the best advice is the way you think. If you play the money game to "not lose money", then chances are that you will lose and become broke. However, if you think "to win" the money game, then you will be successful.
It does not matter what practical method you use, there are many practical ways out there, it is very important how you think about money!
2006-12-02 04:52:51 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Second Job
2006-12-02 04:45:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Spend less than you make each month.
2006-12-02 17:33:07 · answer #7 · answered by Steve R 6 · 0⤊ 0⤋
credit card debt is very expensive
2006-12-02 04:51:51 · answer #8 · answered by Pete 1 · 0⤊ 0⤋
dont waste your money on useless stuff
2006-12-02 04:45:02 · answer #9 · answered by Anonymous · 0⤊ 0⤋