A Blog About Personal Finance. Teach you to be rich slowly not make quick scheme. The specialties are in Financial advice and wealth.
Friday, August 7, 2015
I believe that everyone want to become a millionaire. They have worked to collect penny by penny but most people cannot get much money. Perhaps there is a mistake.
Become a millionaire must be a very difficult task. It is nit easy like back your hand. You need hard work for dozen years. I read some suggestions from budgets are sexy. Perhaps those habits will ha
Of course you want to be a millionaire who has million dollars. You have to set the specific goal for that.
Tracking net worth
It is important to know what your net worth is. To increase the asset we should use the asset and it can be done when we know what assets.
Save 60% of income
It must be difficult to save 60% of your income. You start to save your income now even for 10%. When you get more money you can save more money too.
Avoid Expense Things
You do not have to go the club or you buy the brand things.
Always paying myself
We have to save our money first. Before, we spend the salary, we must save first.
Avoid consumer debt
Some people use credit card to buy video game whereas it is not important. Later, they must pay the debt and also the interest.
You have to set the emergency fund that the amount is 3-6 times of your monthly expenses. It helps you to avoid from debt. You do not have borrow money from others when you need it.
Saving for large expenses
When you want to buy the motorcycle, you have to save first. It is better than you lease the motorcycle.
Investing when others panic or no matter what happen
When the people panic, the stock price decline and you can buys some cheap stock that will give you high return someday. The inflation and deflation may occur but the economic will rise again.
I have to criticize the article because he it does not explain to increase the asset. Some people may have few money but they can grow rich because they can “use” the money.
Five Advice to yo become a millionaire Rich Man Habit