Get Rich, Even When You Are Poor

Here are some steps to help you become wealthy even if you are making minimum wage.

1. See The Pattern And Avoid It

   I am referring to the government pattern of encouraging you to spend your money. They want you to spend, because this keeps you working, the more you work, the more taxes they can potentially collect. Even if you are on minimum wage the government is collecting taxes from you in one way or another. Not only in personal taxes, but also sales taxes, tax on gasoline, alcohol, cigarettes, and so on. You can avoid this trap by not buying little things along the way, form a goal, such as home ownership, and put the little things aside, you do not really need them. Now you might think that if you buy a home the government will get more taxes out of you in the form of property taxes, this is incorrect, as it stands wherever you are living as a renter, that person is paying property taxes, which you pay in the form of rent, as such the government doesn’t care if you own or rent, they still have you. What they want is you to spend your money on other things.

2. Eat Out Less and Get Tap Water For a Drink

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   It would be silly to tell you that you cannot eat out at all, but when you do order water as your drink. Not soda, not coffee, or beer. Beverages and particularly alcoholic beverages, are one of the highest marked up items in the restaurant business. I encourage you to eat out less, do not get fast food for lunch if you can take your own lunch from home, sandwiches are the cheapest, but some frozen lunches are reasonably less than a fast food lunch. Do not ever buy take out coffee, rather make it at home and bring it with you.

3. Grow Your Own Food

   Everyone, even apartment dwellers can grow something. If all you have is a small balcony, you can at least grow container tomatoes or strawberries. If you have bigger space you can grow a bigger assortment of vegetables, potatoes, or fruit. Some plants are so productive you can share with your friends, family, and pets.

4. Turn Off And Turn Down

   Turning off water when you are not using it, even when you are brushing your teeth, will save a lot of water. Turning off lights, radios, televisions, etc when you are not in the room will save a lot of electricity. Turning down the heat or air conditioning really can make a difference. Both in your car (where they use gas) and in your home. If you are going out, make sure you turn these down. At night you should also turn these down. A cranked heater will not heat a house up any faster than a heater set at the point you want the temperature to be.

5. Shop at Second Hand Stores

   You would be surprised at what you can get. Some stores often receive new goods. I often find clothes in second hand stores with their original tags still on, presumably bought by a shopaholic who never wore them and passed them on. Who knows, but I must say you can find good value and often unique items in second hand shops. In return I also pass on any unwanted clothes or other items to the second hand stores. Many people spend a large percentage of their pay check on clothing, so if you can save on this you will be well ahead.

6. Walk

   If you want to go somewhere, it is always cheaper to walk than to drive or even take public transportation.

7. Eat Less Meat

   I am not saying to go vegetarian, just to cut back, have some meatless meals or at least smaller portions of meat. The average American eats enough meat in one meal to feed a family of four in Japan. Our portion sizes are out of control. The correct size should be equivalent to the size of a deck of cards and meat is not needed every day. Meat is typically the most costly part of any meal. Good meal planning will save you money. There is nothing wrong with having a can of soup and toast for a meal once or twice a week.

8. Do Not Buy Junk You Do Not Need

   Nobody needs knick knacks, twenty pairs of shoes, or half the people buy. I will go as far as saying do not go out to movies, your success and wealth in the future will be eaten away by the expenses you might think are small, and they are, but over time all the small expenditures will prevent you from being wealthy.

9. Kids

   If you have a baby – opt for breast feeding, it’s free. If you have toddlers, buy their toys and clothes at the second hand shops as mentioned earlier. Kids out grow their clothing so fast, you may as well by cheap. Be smart when buying toys, a lot will be purchased because of pleading, but will soon be forgotten about.
   Most importantly, have only one child, children are a very costly venture, and a commitment that will last for more than the 18 years most people expect. In this day and age, one child is plenty.

10. Save It

    Bank your money and forget about it. I find it best not to even know what I have in the bank, thus I don’t get comfortable and spend bits of it. Get Savings Plans and term deposits when you have a big enough lump, this keeps your money safe for when you really need it.

11. The Best Investment For Wealth
    

    The best thing you can do is buy a house, even a cheap one, this negates throwing your money away to a landlord, even if your house goes down in value it is still worth something. Money given to landlords is never recoverable. A sizable down payment will keep your mortgage payments lower than rent costs. All the other steps are ones to get you to this stage, and once you have reached this step you will be on the road to financial freedom and wealth because your money is going to you.