Posts Tagged ‘Savings’

Above the need for good credit is the need for personal security.  While paying off credit cards improves your credit AND provides that financial cushion (since the credit could be counted on to be available if you need it), “pay off my credit cards” has been the first steps in a strategy towards financial independence.  However… Read the rest of this entry »

This is the foundation of the "Richest Man in Babylon" by George S Clason. This has been such a success for me over the last 2 years, as I moved from being controlled by debt to getting out of debt (at least out of bad debt) and began saving. If you’ve heard that before you should save money, you should get out of debt I will challenge you to think otherwise. Get yourself out of debt WHILE you are saving money. Start today. I was working with a friend of mine that was telling me just exactly that – he was saving some money out of every paycheck. He related that when he first started thinking about saving, he found it difficult because he could not see the value in small deposits. But believe me, they add up.

So here is my advice to everybody that wants to become rich – The first thing you should do (and my money IS where my mouth is) is deposit 10% of every paycheck into a savings account. Stock markets are fine for some investing, but this is not your investment account (yet!) Before you get out of debt, start your savings account.

Already have a savings account? Nice! Make sure you’re using it. Make your deposits regularly, and you will begin the process of accumulating wealth.

Debt got you down? Don’t let that stop you. First things first – you have to show the world that you can get $100 together and keep it safe.  Strangely enough, the law of attraction can start working immediately, and $100 becomes $1000 before you know it.  You can pay off your debts AND start your savings account at the same time.  It’s a necessity.