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site title: Money Tip Central - Sustainable Personal Finance

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money tip central sustainable personal finance about privacy policy archives personal finance tips the formula for becoming rich 0 the formula for becoming rich is actually quite simple according the many of the self made billionaires in the world these are the steps to becoming wealthy for common folks like you and me step 1 save like a maniac the self made rich had to start somewhere they are usually frugal early in there lives and take jobs or start small businesses at young ages when they start getting a little money they save it and reinvest in their small business if there is nothing to reinvest in they save most folks like to live at the level where they spend 1 of every 80 they make no matter how much they make the self made rich spend about 20 for every dollar they make and save the rest these savings are their ticket to freedom but most of them don t think of it that way they save out of instinct and really enjoy it step 2 become an expert or micro expert in a subject you d like to make money in become passionate about an area of learning and master it listen to every single podcast you can find read periodicals magazines newspapers blogs and anything you can about the subject you re interested in become extremely knowledgeable about the inner workings of the investment vehicle you are going to ride out of poverty in don t waste a minute watching tv arguing with people online or reading trivial facebook updates instead read all the books you can find on your subject of choice meet up with people in that area attend lectures go to tradeshows do everything you can to master your topic notice that there isn t a set path of what you should be following obviously you don t want to become a powerless academic that only knows the theory of how things work you re eduction will be much deeper than this step 3 go all in when the opportunity arises when opportunity arises usually through a change in the market you will be ready to put all your chips in and be much better positioned than anyone else in fact because you know so much about the field you re investing in you were actually anticipating the change everyone else was blind sided by going all in means you give this opportunity all of the savings you have saved up and give it 100 of your energy and time like a pitbull you don t let go until you ride this ride for the full time people that don t understand what you understand will be alarmed or completely baffled about what you re doing but don t let that distract you you know exactly what you re doing the first time you do this it may mean the difference between freedom and running in the rat race until you retire with the new found freedom your confidence resources and deals will get bigger the vivacious saving learning and deal finding only gets bigger with time and the formula is repeated always be taking action those that bootstrap their ways to riches do so by always taking action always progressing and always finding ways to make things work as long as you find ways to take action instead of making excuses you re well on your way how not to spend money spending less money the easy way 0 you will be able to make progress financially by either saving money or making more money however by saving money due to less spending you are also able to save paying taxes on those purchases when you do need to spend money consider using the following tips by using cash instead of credit or debit cards you will spend less money it is estimated that people will spend approximately 28 percent less when they use cash instead of a credit or debit card you will tend to notice cash more when you spend it than when you use a credit card there is an emotional connection between you and the cash when you use cash only you simply cannot spend anymore when you run out of it keep track of your spending and you will be more aware of the pattern of your spending you will notice more ways to save money the areas where you waste money and the things that add up to costing you more than what you thought they would make sure that you create a budget for your spending you will be less likely to stray from your budget when you know how much you originally planned to spend you will now be able to gradually reduce the amount that you spend over time as you stick to the budget look for monthly expenses to eliminate from your budget some things are necessary to have in your budget but ask yourself if there are certain things that you could live without over time these unnecessary expenditures can add up significantly over time try to walk or use a bike more often you will save money on gas oil changes wear and tear on your vehicle and be able to do something positive for the environment and your health as well do things yourself instead of paying others to do them for you you may be able to change your own oil mow your lawn or clean your house by yourself pay off your high interest debts first before you pay for other things paying money on high interest debts is simply a waste of hard earned money borrow things before you go out and buy them for example if you need to do repairs in your home and need certain tools to do it why not try to borrow them from your neighbor you may be able to return the favor at some point in the future it is not wise to pay for something that you may never use or hardly ever need to use watch out for sales and collect coupons to use at stores by consciously choosing to be a home economist you will be able to save money in many areas of your life try to eat out less eating out can add up very quickly eating food in a restaurant costs more money than if you were to prepare it at home you have to pay for the transportation to get there pay extra for the food and pay for a tip on top of it all previous entries recent posts the formula for becoming rich how not to spend money spending less money the easy way government grants to pay off debt ill health retirement planning how to pay off debt the best ways to pay off debt helping you save money free essential software free and legal cable tv channels cheap phone services monitor your credit at no cost negotiation tactics when buying a new car reviews discount broker review tradeking thinkorswim optionsxpress eoption optionshouse zecco high interest savings hsbc fnbo direct popular posts hyperinflation in america photos how much is 100 worth in the future buying a salvage title car best cpu for the money how much interest per apr per month disclaimer the information found on this website is provided and intended for informational and entertainment purposes only and does not constitute financial legal or other advice of any kind when making any financial decisions you should contact a professional as required by ftc regulations please note that we have a financial relationship with the companies mentioned on this site we do not accept compensation in any form in exchange for positive reviews and the reviews found on this site represent the opinions of the author money tip central pages home about archives stay in touch rss feed more thanks for dropping by feel free to join the discussion by leaving comments and stay updated by subscribing to the rss feed 2015 moneytipcentral free wordpress themes
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