Thursday, November 25, 2010

10 TIPS FROM A MILLIONAIRE

10 TIPS FROM A MILLIONAIRE
1. Have a clear vision and
strategy for your financial future:

~ remember that hope is not a strategy

2. Give generously and wisely:

practice educated giving

3. Keep score:

~ know your true net worth, play aggressive offense by investing and aggressive defense by eliminating or reducing debt

4. Live below your means

5. Create a realistic budget:

~Budget = Income Planned Spending + Savings

6. Start investing now and make it a habit:

~ invest every month

7. Figure out a way to buy a home

8. Avoid debt:

~ at all costs... if you have debt, realize that it is costing you money, and causing unnecessary worry. When paying off debt, prioritize your payments reduce the highest-interest debt first

9. Keep good credit:

~ know your credit score and take decisive action to improve it10. Find multiple streams of income find investment vehicles such as 401(K)s, mutual funds, and bonds, or turn your passion or hobby into a business. Opportunities are all around you. Open your eyes for your own streams of income.

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