Most of us spend our lives hoping to get rich AbundanceWith Money Review by any means, whether it’s getting to the top of our career or winning the lottery. It isn’t necessarily difficult to achieve wealth, but keeping the money is a whole different story! The truth is, it doesn’t have to be a spin on a roulette wheel as to whether you can achieve wealth for life. It is perfectly within your control.
When you think about the word wealth, you may think about piles of money or an enormous bank balance. However that is not wealth; that is being rich. Wealth is about having money available consistently, and using it wisely. If you do this then you are not running the risk of losing all your money and will have wealth for life.
You may not realize it, but a meager 10% of what you earn could give you wealth for life. By putting 10% of your income into a high interest savings account, you will gain a huge sum of money. For example, if you earn $30,000 per year, you will be putting away $3000 every year and after 5 years you will have a total of $15,000. You can be multiply this by two if your spouse does the same thing, and there’s interest on top of it all!
This may not seem like the most desirable strategy, but it is essential for achieving wealth for life. Even lottery winners have become bankrupt because they haven’t managed their finances properly. It doesn’t matter how much you earn you need to have a set budget. Find things you do not necessarily need and cut back your spending. If you have any debts you should be putting aside a proportion of your budget to paying them off!