First Rule Of Wealth Creation
It holds true with all things throughout life that if you want to successfully accomplish your goals, you have to stick to the plan. The same goes for wealth creation, you have to follow the specific rules of thumb if you expect to succeed.
The first rule of creation wealth is to make sure that you are paid first. That simply means that no matter how much you make each month, you set aside at least ten percent for yourself. Put the money in your investment or savings account where it will continue to grow. Take the rest of the money to pay your bills and purchase necessities. Just make sure that you get your cut first.
Now, many people hear that and they think that they cannot do it. These people feel like they are working as hard as they can already and are barely making ends meet. They believe it is impossible to put any money aside for savings and investments.
Think About It
Before you give in to such negative thoughts, take the time to think about where your money is going every month. You are sure to find places where you could spend a little less. The problem most people seem to have is that they believe that you are supposed to make as much money as you possibly can, pay all of your bills and then just spend the rest. If you stick to this kind of plan, you will continue to live hand to mouth for the rest of your life.
Sit down with a pen and paper. Make a list of all of your income sources and determine your total monthly income. If your income varies from month to month, simply use an average to get the correct figure. Next, make a list of everything that you pay for each month. If you have accounts that require quarterly payments, work out the monthly average to get an accurate calculation. Once you know where you stand, you will be able to work more effectively toward creating the wealth that you desire.
Sean Rasmussen
Success Communicator
Aussie Internet Marketer © 2004 – 2009
Tags: Creating Wealth, investments, Making Money, priorities, Wealth Creation