According Jonathan Clement, one of those who over the years truly understood the importance of building wealth, wrote on of one of his article name Simple secret of building wealth. '' Wealth is born out of great saving habits. '' Remember when i first started this series article of building wealth, i mention there that for
one to successful build wealth he or she must learn to save. So today am going to walk down that lane a bit,
to make sure you understand the very important or vital role its play if truly you wants to build wealth. There are certain areas of your life, you must learn to cut down how you spend what you earn on them. Inasmuch we know very well that you are owner of this money, or resource.
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And you have every right to spend them the way you want without any questioning from anybody. You must also understand that you have a target, and not just any how target but a future target. There are simple laws you must obey and practically do to make sure you get to your destination, and saving is one of that fundamental approach you must employ to make sure you enjoy a smooth ride to your destination.
Saving, if you asking me is one of the easiest word to say today, but in reality is one of the hardest thing people find very difficult to do. Though sometimes people say they are not well inform about this very issue, but the true remain that those who wants to save will save, and those who wants to blame situation of things as their inability to save will always find excuse to do so.
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Nevertheless i believe you reading this very article have over the years find out the important of building wealth, and you want to do whatever its takes to build wealth. Saving remain the root foundation of successful wealth building.
First example, the auto mobile companies are busy today producing different kinds of sport cars, with resistible features. And one or two person are buying this cars, if you check very well all this people that are buying this exotic cars apart from some thefts among them. You will find out that those are the people that understood the act of saving wealth long ago, and practically obeyed the law.
And now are enjoying the benefit of their labour, now here is the lesson, instead of you following them to buy all this sport exotic cars which at the end of the day only takes resource away from you without adding, is far better to go for a car you will spend a budget you assign to it, without crossing over to other budget that way you will have enough to save and still retain a decent car.
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Secondly what you spend on your house also matters, the fact that we all love to have a decent house makes sense to all, but spending half of your earning now to pay off your lent doesn't in any way make sense. If truly you wants to build wealth, you must sit down to calculate either to get your house through mortgage or any means you find useful that will at the end of the day put more money on your pocket then you spend.
Remember here, that those that doesn't understand where you are going might easily disagree with you, but come to think of it, you are not building wealth for them, so i don't equally see the reason why you wants them to agree with your idea. Let the long last goal count.
Inasmuch as you need people to build wealth the idea must remain intact with you, without letting external force distract you, rather you are expected to turn those forces to resource to get to your destination. There are different ways we spend money today, that if well check is really not necessary. All this you must cut off to enable you focus on what matters most. Remember the different between the poor and the rich, is that the rich save the main and spend extra, while the poor spend the main and save extra which is next to nothing. To be continue