I am 22 and need a little help. I want to be wealthy, but I don't know where to start. My family was not very smart with money, so I was never taught about stock, savings, etc. Is anyone who knows alot about money willing to be my chat mentor?
2007-07-05 08:44:53 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I'd like to help - send me an e-mail.
personaz1@hotmail.com
The only way to get wealthy though, is to inherit a lot of money, win the lottery, or get a good job.
Usually the first two are not easy for you to do.
2007-07-06 07:58:53 · answer #1 · answered by Cumjunkie Doner 2 · 0⤊ 0⤋
My father always told me to pay me first. So whenever you get a paycheck no matter how many bill you have to pay, make sure you always put some money in the bank for yourself. I hear 10% of your paycheck is a good estimate to put up. You only need one major credit card, no little store credit cards. With that major credit card, make sure you buy at least one item that you can afford once a month, and pay the bill promptly. I'm sorry I don't know much about the stock market, but this is good sound advice.
2007-07-05 08:55:51 · answer #2 · answered by Miss 6 7 · 0⤊ 0⤋
1. Join a personal finance class at a local college. They can help you understand basic financial concepts and how you can manage your funds.
2. Employ a trustworthy professional to help manage your finances.
3. Take active interest in the management of your finances. Read financial papers and keep abreast of happenings.
2007-07-05 09:12:56 · answer #3 · answered by Swatkat 1 · 0⤊ 0⤋
save 10%
more important t find smething you enjoy doing to earn money
when you have $5K buy a large tract of land
stocks work sometimes if you want to learn about em
2007-07-05 08:49:56 · answer #4 · answered by Anonymous · 0⤊ 0⤋
check out www.wlgweb.com, you can find someone that will show you a very good way to invest your money. good luck!
2007-07-05 08:50:55 · answer #5 · answered by ♥Infatuation 3 · 0⤊ 0⤋