1. Start saving now!
A portion of your income is yours to keep. For every dollar you make, pay your self a minimum of 10 Cents. That is 10% and yours to keep. The sooner you start the more your wealth will grow, if you can afford more than 10%, great, but remember small wins everyday create large long term gains.
2. Control your spending
Do not confuse neccesary expenses with your temporary wants a desires. Your expenditures should not exceed 90% of your income. Create a hard copy budget of your expenses and cross out all but the absolute neccesities. However much you have left, if less than 10%, should be stored away from temptation in a safe, or inaccessible bank account.
3. Multiply your money by investing
Investing into low risk programs is a great way to build additional wealth and put every dollar to work for you. The sooner you invest, the faster the stream of money will become a reality. Put your dollars to work by making your money your slave. Lending to someone you know with collateral and who has the means or ability to give you a guaranteed return is a great way to make profit.
4. Protect your money from loss
The penalty of risk is probable loss. Research heavily before parting with your hard earned dollars. Be careful not to spend to much time deciding. If you have not come to a confident decision within 24 hours, it is probably best to move on. Be careful that the person or company you are investing or lending to can guarantee their ability to pay you back. Would you trade places with the lender business you are investing with? Consulting an expert is also a great way to determine if you have a good investment in front of you. Be sure it’s an experienced person in the proper handling of money.
5. Buy your own home or property
A great sense of confidence and happiness comes from owning your own home. Though you may have a mortgage, each payment will go towards that debt and will greatly reduce your overall cost and improve your quality of living.
6. Guarantee yourself a future income
Prepare for a suitable stream of income that will provide yourself and your family for many years. Real Estate, Land, and other investments are great ways to gain more income. It must be stable income that will provide even once you are gone.
7. Increase your ability to earn
Your preceding accomplishments must be desire or drive. Your desire must be strong and definite- general desires are weak longings. Your desire should be simple and attainable the more you take interest in your craft. Cultivate wisdom by studying, practicing, networking and learning about your industry. This will make you more experienced and confident, and the more confidence you have, the more you will earn!
If you put these 7 cures into action we know you will see your wealth grow and your financial situations will dramatically improve.