Finance: How To Make Your Dollars Work For You

How To Make Your Dollars Work For You

Written by Achoenweli Opute

Before a person can even take repparttar

first step toward making a fortune, you must know yourself as an investor. Before you can even start, you must come to task with where you stand at repparttar 112598

present time and before trying to chart a path, design a plan or determine a course of action, you must first know repparttar 112599

locations and dimensions of repparttar 112600

starting point.

Without Question; The most important question to be answered is "how much money must I make to be satisfied with myself? *Wealth, viewed in its proper sense, is a means of increasing ones own creativity, a phase in repparttar 112601 evolution of repparttar 112602 human race.

Tip No One

If you set aside one dollar today, and squirreled it away in a savings account that paid 5% simple interest, and if you saw to it that your account was updated each year, your family would have one million dollars by repparttar 112603 year 2262; your family would be billionaires by repparttar 112604 year 2403; and would be as wealthy as repparttar 112605 combined fortunes of repparttar 112606 Rockefellers, Rothschild's, Dupont's and Mellon's by repparttar 112607 year 2453. You would be a trillionaire by repparttar 112608 year 2544. *SAVE*

Tip No Two

"Time is Money". The march of time is pervasive and it can't be stopped by breaking repparttar 112609 hands off a clock, interrupting repparttar 112610 sway of a pendulum, standing in repparttar 112611 way of a sun dial, setting back your watch, or tearing repparttar 112612 pages off a calendar. Time is repparttar 112613 scarcest resource that a man has to work with. Each second is unique-It only passes by once and life is short. Living life to its fullest means getting much done as soon as possible. The rational individual prefers having a dollar today to having that same dollar later. A dollar today is valued more highly than a dollar one year from now. The sooner an individual has his money, repparttar 112614 sooner he can spend it on things he wants or repparttar 112615 sooner he can tuck it into a savings account or an investment program and start earning interest. Money has time value; interests and profits is that reason. All investment decisions are sensitive to interest rates and repparttar 112616 change in overall interest rates are known to have profound effects on repparttar 112617 economy.

12 Steps To Financial Freedom

Written by Achoenweli Opute

Yes, you are welcome and you are at repparttar

right place at repparttar 112597

right time.

You have come to a point where you need to take a decision.

You have to sit down and reflect on a number of issues.

(1) You cannot derive lasting fulfillment by working for money instead of discovering why you are here on planet earth and putting every energy in you to achieving that purpose.

(2)Your decision is to take inventory of your talents and taking steps to developing them fully to repparttar 112598 glory of God.

(3)Don't slave for money any longer.

The Commandment-----12 Steps To Financial Freedom.

(1)Thou shall by all means know repparttar 112599 state of your financial health.

(2)Thou shall create a column for God by paying 10% of all your income as tithe so that He can sanctify repparttar 112600 remaining 90%. And if you don't believe God exists, which is not sensible, thou should donate repparttar 112601 10% to charity.

(3)Thou shall take out repparttar 112602 next 10% and put it in any investment vehicle that pays return higher than inflation rate. It's wise to add unexpected money as well as any raise from promotion to your savings

(4)Thou shall take full control of repparttar 112603 way you spend on any transaction and every penny spent on any transaction and every penny that flows into your pocket. There is no wisdom on buying on impulse.

(5)Thou shall prepare a financial freedom plan stating when you want to retire and what level of investment you must have at retirement that can generate enough returns to repparttar 112604 full care of your retirement expenses. You must set specific goals.

(6)Thou shall look for a mentor on whose feet you must sit to learn about financial investment and management plans.

(7)Thou shall invest more in your mind and brain more than you invest in your physical appearance. What you do on repparttar 112605 inside determines how far you can go outside.

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