Sunday, February 24, 2008

Financial Tips for You

Set aside a certain amount of money monthly for investing and saving. Start doing this in your youth, and watch it grow. The experts suggest that 10% of whatever you make is your to keep and invest.

Read bankrate.com and learn about money saving and Investment advice.

Buy Money magazines, look up investment companies on the Internet. Follow the market. Many people have started with only a few shares, and in time, watched them double and even triple. Be wise and choose well.

Join stock clubs. They are groups who investigate the market and discuss and invest together.

Think about this when you are tempted to overspend. The more you have, the more burdensome it becomes: you have to store it, dust it or maybe even insure it.

if you make a lot of compulsive purchases, get rid of credit and actually have your bank limit your spending, if possible only carry cash and only what you need, you can't spend money if you don't have any way to get to it at the time.

Reduce book and magazine purchases. Borrow from the library and return the items by their due date. If you buy a book from a bookshop at the airport, most have a program where you return the book in good condition within 6 months and they refund you half the purchase price.

Surround yourself with already-made millionaires. *tip - Take the top 5 people you surround yourself with and add up their incomes then divide it by the same amount (5) and it will conclude to your average earnings. It's been said that "Like attracts like". Be mindful of your surroundings.

Always pay yourself first!! This means before you go and blow your pay check on a new pair of shoes or a golf club you don't need, put money aside in to an account that you don't touch, do this every time you get paid and watch your account grow.

Source: wikiHow.com

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