Simple Practices that Lead to Wealth
This is the first post in my new Pillars of Personal Finance series. Saving – The Bank of You Investing – Grow Your Wealth Debt – World’s Biggest Product Income – Your Personal Economy Planning – Goals, Budget & More Saving is Everything There is a colossal reason we started with Saving in this series, …
I am on vacation in Oregon right now, so summer is officially upon me. I have always wanted to write about the four seasons of personal finance. I’ve seen a couple of seasons come and go in my life and I wanted to explain it to those who are just starting out. Like the story …
Spend some of your spare time increasing your income. Pay off any consumer debt or loans as quickly as possible. Don’t buy anything you don’t need or can’t afford. Pay your bills promptly and in the most efficient manner.
Despite the downturn in the economy, most wealthy people are still living pretty large. This happens throughout history. The working classes lose the most in a recession, while the wealthy seem to ride it out in style.
I recently had a conversation with someone who was trying to pay off student loans and credit cards, while still trying to lead a normal life. His comment was “whenever I talk about going on a budget, everyone in my family gets upset and calls me a cheapskate”.