A short guide on how to build your own wealth.
The first thing that anyone that has wealth and has kept it for a long time is because they know how to save. Even people who are rich know how to budget their money. If you know how to save and bugdet your money and treat it like a good friend and keep it around it can in return treat you nice as well in the long run. So the first thing that would need to be learned is to know how to buy the things that you need and maybe do with out the things that you want for a while to be able to see your money build up over time.
I suggest that you learn how to use coupons when you do grocery shopping so you can save on your food bill. Coupons come in a very wide variety I have seen coupons on everything to carpet cleaning rentals, intimate lubricants, resturants, and lots more even pet food.Some people say well I feel embarrased about using coupons and to me it’s insane because you are giving the retailers/business more of your money and they are already rich remember you are just trying to get there. The idea is the less you spend the more money you will keep in your pocket the more you will have for savings or whatever goal your trying to reach. Learn how to get more for your money there are stores that sell itmes like cleaning products for one dollar instead of spending four to five dollars for one cleaning item.
Next is saving money on your bills everyone has bills this is something that will never go away or that we will not have to pay. So with that being said start using less energy by only having something plugged in while you are using it and unplug as soon as you are done using it it still pulls energy if it’s just plugged in the wall trust me my dad is an electrician. Then change every bulb inside and outside of your house to energy saving bulbs this step reduced my bill into half and I love the savings.
Once you are able to know what things to buy that are needs and live just for a few months or a year with out the wants you will see the difference of all of your saving efforts in the end. Every penny counts so maybe try and bring your lunch instead of buying it everyday. Save your water bottles and soda cans and turn them in for gas money.
The getting rich part is finnaly here. Lets say you want to sell something that people need these are the things that will always sell. Say for instatnce you are interested in selling cars. Find the cheapest way to buy a car, like an auction. So say that you spend 250 dollars on a car that has a net worth of 2,000 dollars. You have bought the car so now you mark it for 2,500 and take the best offer you get say it’s 2,100 your profit is close to ten times what you spent. You want to keep buying low then re-sale it for way more but even if you sell the car you bought for 250 for 500 you still double the money that you spent. If you keep the 1,500 in the bank from the profit and repend the 500 on going back to the auction to buy this time maybe a 500 dollar car and depends on your luck to maybe there are not a lot of buyers and you luck up on a car that could be worth 3,000 dollars this time you can stash away 2,500 and by two tranactions you have almost 5,000 dollars just in savings. Remeber the idea is to be able to have the money and be strong about not spending it. There is plenty of ways that you can save money if you don’t use a bank you can go to the post office and get 600 dollar money orders for around 2 dollars each and they last for 6 months at a time.
Published in: Personal Finance