First of all you need to learn how to save. There are 7 days in a week when you can earn and save. SAVINGS has 7 letters. First day of the week, write down the first letter of the word SAVINGS, which is an “S”, and also write down how much you saved that day.

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As regards the articles on MORTGAGE, be careful when taking decision
unless you want to become a SLAVE to your debt.

For example, you want to go out to dinner that night. You go home instead and cook you a nice dinner, which would normally cost a lot more at the bar. Generally when you cook for yourself, you end up cooking more and then you have leftovers for the next 3 meals. You can even freeze it and reheat it again after a few days. In most of the fast food restaurants, the cost of raw food is only 25%. You will save 75% on food when you cook and eat at home. You eat healthier with less fat, salt, and chemicals (MSG) which they use in the restaurant to preserve the food.

I have met millionaires that eat at home because they like to save and want to eat much better quality food. I have also seen people who make $8 an hour spending $25 for breakfast, lunch, and dinner. They could have eaten better and saved $15 at least just on food if they cooked at home. Spending 3 hours of your weekly paycheck on junk food after paying Uncle Sam does not justify anything when you are not rich.

Develop a habit of saving by compulsion. Take a box. Put a slot on it so you can put money in it. Put a lock on it and hide the key. Now, force yourself to put 15% of your earnings in that box when you get your paycheck.

Once you start putting 15% of your money in that box, you will have two choices: either you will start working harder for more hours or you will start finding the ways how to save and spend carefully.

How and Where To Spend

Now that you have saved some money, the next trick is how to invest it right. As I mentioned before, you can make good money but you will never become rich if you don’t know how to invest it right. So investing right is the main thing so your money can work for you and your money is making money for you.

One of the safest investments is in real estate. If you invest it right, you could hardly go wrong in it. I will show you in detail in the next chapter how to invest in the real estate market.

By Ashok of http://becomerichinfiveyears.blogspot.com



Good Power Tools · Circular Saw Blades And Jig Saw Blades · High-Quality Power Tools · Stop Spending and Staying Poor · How To Renovate A House · Learning Valuation Of House Or Asset · Investments in Real Estate: Personal Experiences – Part 1 ·