The First Step to Riches
This is the first article of our road map to riches; it is a basic outline leading from poverty to riches.
This is the first article of our road map to riches; it is a basic outline leading from poverty to riches.
The first thing we need to look at is your current income. It does not matter where this income comes from, whether it comes from an employer (for those of you who work for a paycheck) or from your clients (for those of you who own your own job); what does matter is how much of it you spend.
You need to next make sure that you are covering your living expenses. We assume that all of you who read this can at least do that much.
Expenditures - this is a common area of difficult
First:
You need to spend as little as is realistic. Those with no children should live in a small place, such as a studio or one bedroom apartment (except those with unique situations, such as military housing or those who have paid off homes).
Stick to cars like Honda Civics or Toyota Corollas; you want to make sure that you are driving both a reliable and an economic vehicle. Reserve dining at restaurants only for special occasions or when no other option is available.
Cook cheap, but cook nutritious food. Go camping instead of taking a cruise. Buy only clothes that are cheap, but make sure they will last.
The choice of whether to get a TV or not is a personal one; some need it to stay sane; for others, it is simply a luxury. If you can do without, do.
Recreation is an important thing which you cannot forget about. If you don't enjoy yourself, you will go crazy. However, this does not mean go on a spending spree. There are many cheap or free things you can do to enjoy your time such as watching TV, hiking, reading, or surfing the Internet.
In a nutshell, spend as little as you can.
Don't just simply buy the cheapest thing; buy the most economical thing. Think of how long a particular product will last per dollar spent.
For great product reviews, read Consumer Reports.
Do not starve yourself, lose your friends, or find yourself bored with nothing to do, but do spend as little as you can.
This is the first article of our road map to riches; it is a basic outline leading from poverty to riches.
The first thing we need to look at is your current income. It does not matter where this income comes from, whether it comes from an employer (for those of you who work for a paycheck) or from your clients (for those of you who own your own job); what does matter is how much of it you spend.
You need to next make sure that you are covering your living expenses. We assume that all of you who read this can at least do that much.
Expenditures - this is a common area of difficult
First:
You need to spend as little as is realistic. Those with no children should live in a small place, such as a studio or one bedroom apartment (except those with unique situations, such as military housing or those who have paid off homes).
Stick to cars like Honda Civics or Toyota Corollas; you want to make sure that you are driving both a reliable and an economic vehicle. Reserve dining at restaurants only for special occasions or when no other option is available.
Cook cheap, but cook nutritious food. Go camping instead of taking a cruise. Buy only clothes that are cheap, but make sure they will last.
The choice of whether to get a TV or not is a personal one; some need it to stay sane; for others, it is simply a luxury. If you can do without, do.
Recreation is an important thing which you cannot forget about. If you don't enjoy yourself, you will go crazy. However, this does not mean go on a spending spree. There are many cheap or free things you can do to enjoy your time such as watching TV, hiking, reading, or surfing the Internet.
In a nutshell, spend as little as you can.
Don't just simply buy the cheapest thing; buy the most economical thing. Think of how long a particular product will last per dollar spent.
For great product reviews, read Consumer Reports.
Do not starve yourself, lose your friends, or find yourself bored with nothing to do, but do spend as little as you can.
About the Author:
Cody Scholberg of Rapidly Make Money is a recognized expert on financial strategies and stock investment.
