3 Simple Steps to Building Wealth
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Save what inspires you
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Earned income comes from what you "do for a living."
Evaluate your income situation annually.
To ensure that you save enough money, your wants should not exceed your budget.
Assess your situation. Build an investment policy statement that will provide general investment goals and objectives.
SIMILAR ARTICLES & IDEAS:
Know your income, your expenses, how much is earmarked for additional expenses and how much for other f...
Learn how to spend on the things that matter to you.
Consider your values and priorities when you draw up your spending plan. If going on vacation or giving to a charity is important to you, include those items in your spending plan.
Pay down your high-interest debt as quickly as possible.
While some types of low-interest or tax-deductible debt can help you along the way, high-interest debt rarely has a good purpose.
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Self-made millionaires choose moderation over extremes. They often buy used cars, don't live in the most expensive houses and don't try to time the investment market.
A defining characteristic of many millionaires are their willingness to work hard and stick it out in high-paying careers until they are financially independent.
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Formal education, practical experience in your field and doing a good job is important to earn a high income.
Most professionals see their incomes increase over time. If you can gain high ear...
You’ll only build wealth if you save a reasonable percentage of those earnings.
Periodically evaluate your spending and look for sources of savings.