Over the next seven days I thought I would share ways to increase one's wealth and thus provide a legacy for your heirs. All of the ideas can be implemented by anyone. However, most are rarely followed or followed inconsistently. But when implemented, wealth follows.
FIRST, for every dollar you make, keep ten cents for yourself. You have heard the saying pay yourself first. Take ten percent of your earnings and save it. If you are a business owner, also save 10% of your profits. This is money not to be squandered but as you will learn from the other principles, it is to be put to work for you.
ACTIONS RECOMMENDED, if your company has a savings plan, contribute at least 10% or the maximum you can. If your company matches your savings, you definitely want to contribute the maximum match amount. Simple, yes, but many are not taking advantage of this HUGE benefit.
For the next 6 months, live off of 90% of your earnings by making your own coffee; eating at home and taking your lunch to work; drive less by car pooling and combining trips; and, take a vacation at home, there is more to see than you know. If you can do it for 6 months, you can do it for 1 year and so on.
FIRST, for every dollar you make, keep ten cents for yourself. You have heard the saying pay yourself first. Take ten percent of your earnings and save it. If you are a business owner, also save 10% of your profits. This is money not to be squandered but as you will learn from the other principles, it is to be put to work for you.
ACTIONS RECOMMENDED, if your company has a savings plan, contribute at least 10% or the maximum you can. If your company matches your savings, you definitely want to contribute the maximum match amount. Simple, yes, but many are not taking advantage of this HUGE benefit.
For the next 6 months, live off of 90% of your earnings by making your own coffee; eating at home and taking your lunch to work; drive less by car pooling and combining trips; and, take a vacation at home, there is more to see than you know. If you can do it for 6 months, you can do it for 1 year and so on.
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