A Personal Finance Guide

10 Easy Money Lessons Everyone Should Learn – Including Investing and Becoming Your Own Boss

#1: Saving Equals Freedom: We live in a “have it now” society. You may think you want to be rich- and that’s a great motivator- but what you really want is freedom. The real reason you should be saving your money is that saving leads to financial security, and financial security provides freedom. Having money in the bank will give you the ability to do what you want when you want to do it.

#2: Be An Owner: When I was 26, my father-in-law taught me a lesson that would ultimately shape the course of my life. One day at his newly built appliance store, he said to me, “Rachael, there are three types of people who come to my appliance shop: the people who work here, the people who buy, and the people who own the place. If you want to be rich, you want to own the place.”

Later that evening, he opened his statement from PriAmerica, showed me how to look up the price of stocks, and explained what it meant to buy shares in a publicly traded company. “If you started saving your ‘extra’ income,” he said, “you could buy stock, and when your friends buy from that company, you could make money from them.”

I was hooked. Over the next few months, I saved my ‘extra’ income and bought my first share. Own stock in these companies, and you will make yourselves rich as well.

#3: Pay Yourself First. The moment you get paid, you should pay yourself 10 percent first. That’s the secret to becoming rich. So if you make $1K, put $100 away. If you do this, you will never have to worry about money – ever!

#4: Do not buy things you don’t need. Starbucks- the rich man’s coffee. Just think of the huge nest egg you could have if you saved the money you spend on things you really don’t need. Take that money and start putting it into an envelope with a notepad which states all the money you’ve added each time. It’s like a game watching the numbers add up (unlike a checking account where the numbers seem to disappear into thin air).

#5: Get RID of Credit Cards. With your savings building up you will no longer need to depend on money you don’t have. Interest kills your pocket book in the long run and you could potentially end up with more debt if you don’t pay the balance in full each month.

#6: Take Advantage of Compound Interest. This is the gigantic pile of money that you can accumulate is you start saving just a few dollars a month.

#7: Buy a Home (with a fixed interest rate). The average homeowner has a greater networth than a rentor, because your house is considered an asset and something you can put equity into. Rentors only rent and the only people making money and building equity are the owners.

#8: Tithe. Give because you want to give… not because you have to. The more I study the rich, the more I’m convinced that many people who achieve great wealth have one thing in common: giving to others, even before they become rich. You will lead a much more abundant life when you give.

#9: You control your destiny or someone else will. Most of us were raised to go to school, earn good grades, and get a good job. This is not a formula for living richly. The rich invest in companies and become their own boss. Learn to an entrepreneur- this is the key to prosperity and security. This world needs more dreamers, more doers, more builders-and that means more entrepreneurs.

#10: Don’t repeat mom’s and dad’s mistakes. Think about how you’ve handled your finances over the years. What would you have done differently? Isn’t it time you made a change. If you keep doing what you have always done…you’ll keep getting what you have always gotten.

Rachael wants to connect with people who are looking to affiliate market or who are interested in beginning their own online business- venturing to entrepreneurism. To get in touch with the author of this article please visit http://www.Truementorhip.com or call her direct line 605-351-3105.