Life style matters, sometime people who earn less live a happy life as compared to those who are unhappy even earning big amount. So if you want to be a rich you will have to follow the steps that will help you to achieve the wealth. You will have to change your lifestyle and ways to be on the road of riches. All are not as lucky as Bill Gates and Warren Buffet. 0.001 percent wins the lottery, so if you are not as lucky to win it, start following some rules and be rich soon.
Control your spending:
More than the half American population spends more than their income. Half of Americans use saving plans to save money but many uses the credit card. These plastic cards ruined the life of many people, so be careful while using these cards and loans in your life. You should at least have some savings for emergencies. If you are done with your emergency savings then go for home savings, college fee, etc.
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Control your credit card debt:
Credit cards are running the life of most of us. I would say it the fastest life ruining cards of individuals. As to NerdWallet.com Americans are under the debt of $846 billion. So be careful which spending through credit cards. Sometime credit cards help in different ways in our life to make the small payments. But usually high interest cards are very dangerous for an individual. So try to save money from the card interests and move ahead to be rich.
Never pay late fee:
Avoid late fees, weather its university or college fees, late bank fees, credit card fees, etc. try to save a single buck always, because these bucks become the plenty of amount when you regularly start paying the late fee on your ATM withdraws or a dollar on library book or a DVD. If you calculate these late fees, you will find that good amount of your budget you are paying in late fees.
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Save for your retirements:
Never forget about your retirement plans and don’t through the retirement plan ahead. Always save for your retirements and continue the retirement plans. Start saving for your retirement as early as possible. Don’t wait to pass the thirty or thirty five years of age. Its beneficial for you as soon as you will start saving for your future.
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Save today to reach a million dollar:
To achieve the goal of $1 million in your retirement age, you need to start saving today. If you will start saving for your retirement at the age of 25 you will have to save only $285 each month till the age of 65. If you will start it in the age of 35 you will have to save $671 a month to achieve the goal of $1 million retirement plan.
Buying new things VS used:
Do you know that you always buy the new things and waste the big part of your budget? Within the 3 months of a new purchase we lose the 15% to 30% of its value. You can save too much on new cars, mobiles and all other luxuries. Do you know after buying a new mobile, when you unpack your mobile, it loses the 10% of its worth. Same like cars within first 2 years as per experts’ car loses up to 30% of its value. It’s good to save some money in all your luxuries by buying a bit used.
