Ten Ways to Wealth Management

Ten Ways To Wealth Management

1. Set achievable goals monthly and annually.

a. Goals can be related to saving money or making money.

b. Goals must be within your capacity and ability

c. Increase your goals every year

2. Know what and where you are spending your money

a. Understand what you are spending monthly and on what exactly

3. Find sources of income to offset your spending

a. A roommate, overtime, sell something, trade-off,

4. Save

a. Cut coupons and keep them in an envelope in your vehicle

b. Turn off the lights when not in use, take less warm showers,

c. Take care of multiple tasks when driving on the way to a final destination

5. Earn money saved

a. Do a little bit of research for better gains

i. ING Direct, HSBC Direct, Federal Credit Unions,

6. Invest

a. Buy a home and stop paying rent!

b. Take only risks that you feel good about and have done the research on

7. Taxes

a. Keep track of expenses that you may be able to write-off during tax season

b. Use an excellent accountant

8. Purchases

a. Buy quality goods that are durable, reasonably priced and have a long life span

b. 100,000 mile warranties are good

c. Buy a 1 or 2 year old car with low miles. Refer to KBB.com

d. Hold on to that car for as many years as possible before switching (8+ yrs)

9. Health

a. Exercise and eat well. The less you see the doctor the more you save.

b. The better health you have,