Saturday, September 1, 2012

Five advices to help you become a millonaire

Every people want to have million dollars but it is not a rocket science and easy. To become a millionaire, you can do these advices below.

1.Stream so much income
Try to find so much money as you can. An employee can get $ 35,000 or $ 65,000 per year, depending on the skill. If your salary is low, you can find side jobs. You can still work while you do some side jobs.
Create the book, software, technology to get royalty. Some famous book author can be a millionaire from the book.
Do not depend to your boss only. Someday the boss will not pay you. You have to create so much income source.

2. Save your money
Saving the money is not just in bank. There are some things you can do to save your money. Buying in a bulk is a way to save your money. Use the coupon in the web or magazine to trim down your spending.
We can save the money by thrift the fuel. Buy the regular gasoline rather than the premium. You can save little dollar from it.

3. Invest wisely
Invest for your future. When you stop working, you will get some money to fulfill your daily needs. Investment can multiply our money in short term or long term.
The capital market is the most famous investment today. Unfortunately, the return of stock is not good recently due the economic tight. The bond market is also not good because some Europe country such as Greek offers high interest bond. we can get high interest from the Greek Bond but we are doubt that Greek will pay back our money at the time.
Alternatively, you can invest at real asset such as land, property, crop land, farm, plantation and other.

4. Live below your mean
For what a luxorious car if the cheap car can pick up you to office? For what a big house if the small house is enough for you? For what a gold watch if the steel watch can show the right time?
A millionaire should live below the mean. They can use the money for investment. Warren Buffet, a millionaire investor, prefers to drive cheap car than luxorius car. 
5. Be consistent
A millionaire should be consistent. They should do what they have planned. When they cannot get jobs, they can open a business. Some lucky business man make money more than the employee can do.
read also 
How to increase net worth 
Why Financial Planning is necessary 
How to avoid personal financial crisis

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