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Wealth Building Step 2 – Save, Pay Yourself 1st

Wealth begins with debt control and saving.

Wealth begins with debt control and saving.

Save – As much as possible
as fast as possible!!!

The essential Wealth Building Step 2 – Save, Pay Yourself 1st, continues White Top View series, Wealth Building We opened our discussions about the three proven steps to wealth and last time we covered the critical first step, debt control. Today we continue by considering the essential 2nd step, saving

This Part 3 of  the White Top View series, Wealth Building a discussing  the basic steps to wealth building. Links to all four parts of the White Top View series, Wealth Building are at the end of this post.

The Wealth Building ONE – TWO PUNCH!

Get debt under control then save as much as you can as fast as you can. The one – two punch of debt control and saving gives you the fastest and best way to begin your path to wealth.

Beginning is the most important part. Begin today. Just decide that today you start your journey to financial security.

Establishing a saving program for yourself and your family can make sure that your future includes financial security. Teaching your children to save and stay out of debt gives them the gift of continuing prosperity.

Here are links to all Parts of the White Top View series, Wealth Building

Part 1: 3 Wealth Building Steps

Part 2: 1st Step to Wealth – Debt Control

Part 3: Wealth Building Step 2 – Save, Pay Yourself 1st

Part 4: Wealth Building Step 3 – Learn Investing Basics

Pay yourself 1st

On payday take all necessary measures to pay yourself first. Immediately set the funds aside. Begin today and continue every payday. Saving as much as you can, as fast as you can guarantee you options in life.

One option, make choice necessary for you to get rich. With an average income you can build wealth. It does need you to make the right choices. It is not easy. But you can choose to do it.

Begin today setting aside as much as you can. Make changes to your consumption that enable you to save. You can’t save it, if you spend it.

The choice to get rich affects every aspect of your life, everyday

Take full advantage of any saving, tax minimizing or investment program that you can. To begin do not be concerned about any investing specifics. We can discuss that later. It begins with accumulating savings.

Just begin. Do it now. Start saving and making deposits every payday.

Beginning with your pay, arrange for an automatic savings deduction from each pay deposit.

In a low-interest investment environment the returns on cash are limited. However we will address that later. For now do not be concerned. Get those savings deposits growing and regular.

Once we have some capital accumulated we can turn our attention to putting the funds most effectively to work for you.

Review your total spending pattern

Look for ways to save in every aspect of your life. Use Google to find ideas that help you save.

Consider the following ways to save:

  • Make your own coffee – that saves hundreds or more!

  • Brown bag your lunch

  • Cook at home rather than eat out

  • Entertain at home – invite in instead of going out

  • Walk when you can – rather than drive

  • Stop paying for a gym

  • Enjoy parks near you

  • Discover your library – both ebooks and traditional

  • Volunteer in your community – fun, engaging and satisfying

  • Don’t shop while hungry

  • Buy bulk foods and supplies

  • Stop smoking

  • Drink water

  • Stop killing trees – use fewer paper towels

  • Avoid peak season travel

  • Buy quality clothes and items

  • Children need your time, not purchased entertainment

  • Play the savings game – let children suggest ways to save

  • Free stuff – look for and take advantage of free offers

  • Before you buy – ask for a deal – price break or fees waived

  • Brainstorm savings ideas with family and friends

When you save it, put it away. Don’t spend it on something else. Did I mention that you need to begin this today?

What are your best saving tips? Let’s talk about it.

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Have a prosperous day!

Bryan

White Top Investor
whitetop@WhiteTopInvestor.com
www.WhiteTopInvestor.com
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These discussions and information intend to help you better understand markets and investing. I am not a financial or investment advisor; opinions are for informational and educational purposes only and are not intended as investment advice. For syndication of the site or blog, please contact info@WhiteTopInvestor.com.

Images courtesy FreeDigitalPhotos.net

Links to the White Top View series, Wealth Building

Part 1: 3 Wealth Building Steps

Part 2: 1st Step to Wealth – Debt Control

Part 3: Wealth Building Step 2 – Save, Pay Yourself 1st

Part 4: Wealth Building Step 3 – Learn Investing Basics

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