May 2 2009

Wealth building

A couple of days ago I heard a radio announcer state that Americans were saving money after many years of stacking up debt. Saving is hard work but you can do it by paying yourself first. I use a three step system. 1. I add up all my monthly bills 2. Then I deduct that from my monthly income. 3. Subtract your spending money and deposit the remainder in a savings account. If you are paid monthly you may also do the same drill once a month. It is best not to use checks. Just live off of your allocated spending money. This system seems so simple but it isn’t.




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