Quick Wealth Network

Building financial wealth?

I am looking for some sound advice on how to build financial wealth. I do not come from "money," and I don't have a high paying job. I'm tired of living pay check to pay check and never having anything to show for it.

Public Comments

1. Ok, here we go. First: Pay off any credit card debt. ALL of it.You can use the cards but plan to pay them off at the end of each month. Send me an email if you need more tips on this. Second, start saving something every week. Do it automatically if you can. Ten dollars is enough but you have to get in the habit of it. Third, look for a second job doing something you may like. You can change second jobs a lot but this is for your future. Bank all the money you earn and, when it stops being fun, change jobs. You can also use the second job to pay off the credit cards. Finally, find a good stock mutual fund. I like American Century funds, and use the money you have been saving to start an account with them. A savings account will pay you 3% and you should earn 9% from your mutual funds. Every time you have enough in your savings to purchase more, do so. That's it. Simple, eh?
2. Real estate is the way most 9 to 5 workers get ahead. If you rent, start saving for a down payment. Find a home in a price range you can afford, a reasonable distance from work. A "fixer-upper". Sweat-equity is the goal here. Your ambition is limited only by your desire. If you can't deal with the time frame to achieve the goal, you'll have to take on partners. This will accelerate your time frame, but reduce your profits.
3. take baby steps first if you owe credit card debt get rid of it if you owe car payments when it is pay for keep paying the same payment to yourself so you will have more money to pyt down next time in several years you should be able to pay cash for a car always save something out of each check ear mark certain amount of money for a rainy day fund == when the bad times hit -- you need six months of salary there look for the best income for your money == if young go for stock/mutual funds and than as you get older switch to cds and corp bonds!!! most important thing is keep track where you spend your money == i know everyone says to them selves yesterday i have 40 dollars in my pocket where did i spend it -- a coke her a cup of coffee there adds up == the little things we buy in the long run hurts us the most!!! if you want to ask any specific question email me!!!