The #1 Secret to Creating Wealth
By Desty on Jun 10, 2007 in Money
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Everyone wants to know how to get rich and create wealth. Everyone has a gimmick or something to sell. There are several ways for the normal person to get rich, but most of these require some education, training, or experience in certain skill sets.
There is a secret to getting rich that anyone and everyone can follow. Its so simple that most people discount it without trying.
Pay yourself first
Its that simple. A portion of what you make is yours to keep. Before anyone else can take their cut out of your check, pay yourself a set percentage from the gross. Put that money aside. Don’t use that money for a vacation, pay off a bill, or buy that killer dress. This money has one job to do and one job only: to make more money. We’ll go over simple ways for this money to make more money in a future article. For now, do this one thing:
Pay yourself first!
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Interesting perspective.
You work hard for your money, but do you really get to keep any of it? I’ve actually had people tell me that beyond taxes, its all theirs. Ok, do you have a car payment? Do you have a house payment? Do you pay utilities? What about groceries? That’s not your money, you have to give it to them. Set aside no less than 10% of your gross income. Don’t spend it. Invest it in a safe and secure investment, and I don’t mean mutual funds.
[…] Remember back in early to mid June I mentioned we would go over how to use your money that you pay yourself first? You don’t? Refresh yourself with this earlier article on paying yourself first. […]
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