You may want to be wealthy, but do you have a PLAN?
Wealth does not just happen. You won’t find it land on your head, lap or doorstep anytime soon.
The path to wealth requires forethought and planning. You should know whatever you do have – if you can’t manage what you have now, what makes you think you’ll be able to manage a larger sum?
“Annual income twenty pounds, annual expenditure nineteen and six, result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”
from David Copperfield, by Charles Dickens.
It starts with spending way less than you earn. Misery is what happens when you spend more than you earn – and why you need to know every $ that comes in, so you know how much you can spend. And you can’t spend it all, or even close!
If you don’t learn to use what you have to build wealth, you’ll never be wealthy. If you don’t have the money readily available for something you want or need, think like the wealthy: figure out a way to earn the money to do so! Sell more widgets, work extra shifts, create another product or service, get a newspaper round – something, anything. Just don’t whip out the credit card and pay the minimum at 26% interest rate. That is a sucker deal!
Once you have a handle on what you are spending and earning, you can then begin the process of building wealth. If you realize that money and the resulting wealth is a storehouse of value, you’ll be able to figure out the next steps to take far more easily.