Saturday, September 12, 2009

The 10% rule to attaining wealth

One must have money to invest but where do you get it if you are living paycheck to paycheck. The answer is to pay yourself first. When you receive your salary, get 10% right away and set it aside. Do this before paying the bills, before paying your loans, before doing the groceries, before spending it. This is the only way to ensure that you will have the funds to invest. It is difficult at first but it can be done with practice and determination. You work everyday but come 5, 10 years you may have nothing to show for all your hard work. Who is more important, you? the credit card companies? the utilities? the telcos?. You should be paid first before any of them. It is said that if you do things repeatedly then it becomes a habit and becomes easy to do. I hope all of us will have this habit of saving 10% of our income. This should be done first, then spend the rest.

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