Proudly most people go to work for their money every day. This sounds like the American Dream. Work hard and earn a paycheck is the lesson taught to us in every school in the nation. But the truth of the matter is that smart people learn to do it just the opposite, they make their money work for them instead. And you should start doing this as soon as possible to protect your personal finances.
Right now you are probably trading time for money. The problem with this is you are limited on time and you need unlimited money. You cannot work 24 hours a day 7 days a week for very long. But your money can and it can forever if you so choose. So start right now. Pay yourself first. Take 10% of your paycheck every time and invest it in something. At first it may only be a savings account but you can build that into other investments.
Rich is only the amount of money that you have at a moment in time. Wealth is having the time and money to decide what to do when you want to do it. Wealth means that you have built a personal finance machine that will supply you with the income that will last for generations.
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Most of us go to a job every day believing that if we work there 45 years that we will get a gold watch and a generous retirement. Sorry but that was the reality in the 1950?s. Today companies great and small come and go. Today?s industry leader is tomorrow close down headline. Where are you left when this happens? No Gold watch and no generous retirement is where!!
Most people have the mistaken belief that they are too small to invest. Investments come in all shapes and sizes. The key to investments is that it is a long term process and not something that happens overnight. And it will not go up every day but it will go up. By being a responsible investor your personal finances will grow. Have several different investment strategies such as general savings, retirement plan and income investing.
As a beginner you can invest in the simple vehicles such as a savings account and a 401k plan. Everyone starts somewhere. Not every investor started out with a billion dollar portfolio that is making a 23% return every year.
Find ways to earn extra money starting out. Look at work from home businesses. Sell things at flea markets. Turn your hobby into a part time business venture. Remember you are your best investment.
Also learn every day. Study from the successful people in the industry that you love. Find out how others went from zeros to heroes and do what they did.
So start today and build the future that you deserve. Build your personal finances to be the giant that you can do.
For more great tips on your personal finances along with retirement planning tips and savings tips visit the resource box below.
Source: http://www.finanzweb.org/looking-after-your-personal-finances-every-day.htm
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