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2007-07-18 20:30:41 · 9 answers · asked by ailian707 1 in Business & Finance Personal Finance

9 answers

We would all love to know the answer if you find it.

2007-07-18 20:37:06 · answer #1 · answered by Tony A 6 · 0 0

Rule #1
Don't fall for scams. Learn all you can about scams and always keep your guard up. A lot of people will show up and tell you they have a wonderful money making opportunity. However, they do not say it is making money for them by taking it from you.

Rule #2
Learn as much as you can about personal finance and investing. Go to the book store and buy some books. Better yet, go to the library and do it and save a few bucks. Don't go for the "Get Rich By" type books that make it seem like you will be a millionaire by nightfall by following their advice. Focus on the stuff about personal finance. Start with "Personal Finance for Dummies". Use that book to find other books. Also, look online and find articles. Here is a good place to start.
http://www.bankrate.com/brm/news/Archive.html

Rule #3
It won't happen overnight. It won't happen within a year. It takes a long time to truly get it done. Once again, the scammers will promise you the world within the next thirty minutes. They do this to get you greedy and then they can take advantage of you.

Rule #4
Avoid debt. Are you using credit cards? Stop it. Some will argue that you will hurt your credit score by doing so but I have met more people who were harmed from too much debt than those who were hurt from a lower credit rating due to not having much debt. If you are borrowing money then you are paying someone for the use of that money.

Rule #5
Spend less than you make. You bring home $1000 a month? Then you spend $800 a month. Do that and in one year you will have $2400 saved up (not counting any interest it may have earned). Does not sound like much does it? However, with proper saving and investment, you can build a forture in a few years. Get enough saved up and you can do something like start your own business. Do it right and then you can make a fortune.

Rule #6
Make your money work for you. This is easier said than done, I admit. However, your ongoing education in personal finance and investing will help. You may start small with a CD or something. However, always keep your money in a position where it is making money for you. Do not spend the money that is made this way. Make that money work for you. Let the wonder of compound interest work for you.

Rule #7
Not everyone in the world can be rich. Sorry to say it, but it is true. However, the way that most people do their personal finance, it should be no problem for you to outperform them and end up rich. You have to do it wisely.

Rule #8
There are so many more rules. No one really knows all of them. Your best bet is to learn as many as you can learn. The best kind of learning is paying attention to the mistakes of others. Don't make the same mistakes. Each rule you learn will help you get to your goal (as long as you follow the rule).

2007-07-19 13:01:49 · answer #2 · answered by A.Mercer 7 · 0 0

I was born with it since my daddy is the ambassador of Germany and my mom has a really high UN possition and has a shop as well and they kinda spoil me so I dont know I was born that way. I guess that its kinda difficult...most people get like a masters and a PHD so that they can get better jobs.Well I think that you can make the most money from owning a buisiness...Hope I helped!

2007-07-19 05:24:27 · answer #3 · answered by Anonymous · 0 0

You can easily bring in a lot of legitimate cash completing free offers on GPT sites. GPT (Get Paid To) websites are a good and easy way to make fast and free money online. A good site to learn about them is http://www.gptcentral.net/.

2007-07-19 03:49:26 · answer #4 · answered by Anonymous · 0 1

Black-market organ sales.

2007-07-19 03:38:33 · answer #5 · answered by Anonymous · 0 0

Just search hard for the opportunities to make $, and with passion.

2007-07-19 03:39:39 · answer #6 · answered by Dolphin-Bird Lover8-88 7 · 0 0

By taking the first step.

2007-07-19 03:34:21 · answer #7 · answered by ? 3 · 0 0

put ya body on da organs donation list :)))
kiddin'
well try 2 buy, reconditionate, and sell stuff
or ... wtf ?? get a job :D:))

2007-07-19 03:40:16 · answer #8 · answered by djlaxa 2 · 0 0

These steps with make you more than rich, it will make you trully wealthy. You will not only enjoy your wealth, but you'll also enjoy your path road to it.

First step:
1. a. Accept Jesus into and life and get to know him by reading his word, and tell him everything that your heart desires. As rich as Bill is, he went to church! You can never find a truly wealthy man that doesn't. He either got it illegally, or inherited it and wasted it (eg. 'pa ris hil ton' - "notice the spaces in between, Yahoo nor anyone else can go against me for using these letters, legally they're not a word") LOL. ; ). But we won't want any of that heard of you.
b. Pay your tithes (nuff said, notice, I didn't put an ! mark. Just to show you that, it's a no brainer)

2. The first place wealth starts is the bible. Who is wealthier than a king! A king not only owns animals, gold and silver, but also People and there offspring. And can do whatever he wants with them. Solomons wealth was beyond measurable, but even Solomon had to know the law of kings and the law of the Lord. It was mandatory before a king was given his throne, that he know the law by heart. Do you know the bible by heart? Do you know the rules of your country or business by heart? You'll be suprised of how much you didn't know, has hurt you. (eg.there might be a law that says no tax and free electricity for anyone with a toyota coralla and a pink house, so get rid of that hummer and green paint on your house! - Just a joke, :) )

3. Manage what your have (Quicken does a good job at this, but there are many other options. Pencil and paper dont cut it. Especially when you begin making 250,000 an up). And listen to advice, your not alone. (A question? Who has taken the time out of there busy schedule to giv you advice? Just ask yourselve that question and answer it in your mind. p.s. Get good at listening and asking for advice, if you desire/want anything, your going to need a whole lot of it) Now! if you want to see your numbers rise. The myth I would like to end in your mind, is that rich people are ignorant. No! Matter of fact, they are some of the most intelligent people in the world. If you were the father of a son, were a lawyer, and had your wife on the board of The National Bank (which means your rich). It's a good chance that you son will go to Harvard, or the best school there is. Thats what Bill Gates parents did for him. I am using Bill Gates, because you should already know who he is. There are many more with millions, but this man has billions :). His parents realised that eduction came first, before he ever thought of making his own money, his parent had him in school. I also say this to say, Get Educated for whatever it is your going to do. And manage whatever monies you have now. Also, just to show you have far Biil is from ignorant, IBM as large as they are wanted to buy his software and take ownership of it, including his copy right, he defended is right and brilliantly decided to make IBM buy one licence per copy, IBM needed hundreds of millions of them. One time out of the blue decisions like this is how Bill made his mojo/money, if you owned a design for a new ford F-150, do you have the legal knowledge and education to make Ford Motor Company pay you for life, Bill did. Thats why you should do as his parent did with him and go straight to school. Knowlege first, then money.

Remainder: Key points for #3, Get your education and manage what you have using financial software like quicken. For those who manage little, WILL manage much.

Hope you taking notes, in a sense, this is a class, I dont see you writing.... :)

If you can't keep track of $500 a week, what makes you think you can keep track of $5,353 a week, or even, $50,232 a week. Not counting the many other micelaneous items you might buy with such increase in your paycheck.

4. Be your own Boss. Own your own company. Your NOT going to get rich and Definately not wealthy in the safety of Corporate America. Two reasons why:
1. The owner of the company you work for isn't there just to order people around, He wants the same thing you want, Money and more of it. And he's not going to let his employee, you, make no more than Your living expences require. Which on average is around 48k in US.
2. It takes the same amount of hours plus more to be your own Boss. To give you another idea of how is feels. If you had a child in the nursery. Your child is going to require the same amount of time spent nurturing if you had him/her at home. Matter of fact, having a baby at home is a full time job for a parent, they must be at they're becon call. Your business is no different, it needs you until its mature enought to run without you. (p.s. Thats when it will only ask for your advice and permission like a now mature 17 year old. If your business become like a 21 year old and does need your permission, then you probably only own a part of it then :). So keep full ownership and keep it 17 years old-young!, unless your way too old to handle it, but thats what your children are there for, to manage your business-thats what 'Carlos Slim Helú' did-. :) He had kids so his because wouldn't become 21. He wanted full ownership)

5. Give! Him who free gives, freely recieves. With whatever you have, give something, time, or money, which ever one is harder for you to give, give it. You automatically open the door, for the world to want to give you there money and time. Think of it this way. If a husband/wife/sister of yours is always giving you something/anything and asks you for something big, wouldn't you give it without thinking of it? Wasn't it easy? Then give, and the same will be done to you. For it is more blessed to give, than to recieve.

6. Whats your gift? What gift has God given you? Bill Gates fill our most necessary need for computers, there apart of our life, Micheal Dell fill our need for very low economilcally priced computers. Micheal Jordon, our need for basketball flavor.
a. Once you know your gift, use it or it will be taken away from you. We do need it so please dont hide it.
b. Or if you dont know and aren't looking, just simply find a need and fill it. Maybe you area needs a cheaper or close source of bottled water, or more weave/wigs, so start a horse farm. Simply find a need and fill it.


7. You must invest! (Read Richest Man in Babylon) The whole idea is to not only keep what you have, but increase what you have. If it were possible for you to buy a gas station for $200,000, and in the first year you made $1,000,000. You can be sure, you made a good investment. And know that you have 'Put your Money to Work'.

http://gettingworkerscomp.com/image/Animated%20-%20Money-Falling.gif

8. Thank Jesus everyday for life. Write down 10 things everyday you are thankfull for and thank him. For as long as you live, you'll live somewhere else much! longer. And as much money and muscle as you get, you can't carry with you wheny you leave. So sign it to your parents and get a life insurance too, when you leave, you can leave them an easy 50-100k+ easy to live on. Take care of your parent, because they in some which way did it for you. Honor your mother and father that your days may be long upon the land which the Lord thy God hath given thee : ) .

9. Love people, for God is love. He sent his only son Jesus Christ to die on the cross us from out sins. I love you thats why I took the time to write this to you, if I didn't love you, I would've just said, break open the bank or work hard. But I didn't, because I know you trully want to know the truth, and the truth, I gave you.

10. Its only nine, but I like to see even numbers or numbers like 3 and 7. So I added this line, Just kidding.
-Save! Nuff said. You will always spend money, but you wont alway keep any of the money you make. The way to keep money you make without allowing it to grow wings and fly away, is to save. As a business ownder, you would want at minimum 3 months of savings (aka. nest egg), or the average and safest 6-12 months. Its also make it easier to get a loan when you have 20,000 on your bank account and need to borrow 50,000. Compared to having absolutely nothing and wanting 20,000.



ps. The information I am giving you is the recipe for a multi-billionaire, so figure out what it would do for a millionaire.

Also, if you follow any 1 of whats above, you will recieve more monay than what you have now. If you've done it all, I would like to say; Hello Mr. Billionaire and welcome to Yahoo Answers! Ask away, its 'free', but I'm sure that word is not in your dictionary :)

Its long, I know, but the bible is longer, and I'm sure now everyone who reads this is going to read the bible, Richest man in babylon, or go to college to get there degree. So I put it all down leaving out nothing, so the answers for you question is rubust.

2007-07-19 10:25:03 · answer #9 · answered by John S 1 · 0 0

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