D
Deleted member 18602
Iron
- Joined
- Mar 26, 2022
- Posts
- 247
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Broke people spend all their money. Middleclass people save all their money. And rich people invest all their money.
Sounds cliche but it is true. Think about people who lack self control and see where they end up in life - fat, broke, and unhappy. Well I'm here to tell you that that doesn't have to be you. There is no need be like 90 percent of Americans who can't even afford a small financial emergency. In this guide, I will teach you how to save, be thrifty, and build your perfect life. But - you gotta stay focused. To start off let me give you 5 quick tips:
1. Save 15-30 percent of your income per year.
2. Diversify your assets.
3. Have at least 2 streams of income - 1 active, 1 passive.
4. Have a plan A-Z.
5. INVEST IN YOUR HEALTH!
Now. If you only do these 5 things - you are already on the right track. And most people can stop here. Because the rest of this gets pretty high IQ.
So for more advanced strategies, you are going to want to invest in the stock market. And invest in things that build slowly over time, like ETF's, Dividends, or mutual funds. These are low risk but have more potential in the long run. You can try meme stocks but you are basically gambling and 95 percent of people never make money on those. Some examples of stocks to invest in:
1. Commodities Futures
2. Anything Related To The Medical/Healthcare Sector
3. Oil (As of 2022)
4. Food
5. Old Companies like Ford, Nike, etc.
Tips for saving:
1. Don't use name brand items.
2. Use coupons.
3. Don't use toilet paper. Buy a bidet, then you save more money in the long run.
4. Don't buy bottled water. Buy a water filter and use tap water. You are already paying for water through your electric bill.
5. When you go to the store for food, set a budget below 100 dollars.
6. Try to find free or cheap hobbies to have - old video games, fitness, religious groups, free computer games.
7. Do not buy a new car. If you don't like your current one, either tune it and modify it, ride a bike, or use public transportation.
8. Do not spurge money during the holidays. Find a way to celebrate it by having it Incorporated into your daily routine and savings plan- IE: diet, entertainment you consume,
Other things I want to say:
A large part of becoming rich is actually letting go of the desire for money. It sounds backwards but its true. I have had to cut out a lot of thing to get to where I am now. This is why rich people tend to be better behaved, have more self control, and overall are just more efficient people. With that being said, good luck. Unfortunately based on statistics, most of you will not have the self discipline to do this and will fail, but I still wish you well.
Sounds cliche but it is true. Think about people who lack self control and see where they end up in life - fat, broke, and unhappy. Well I'm here to tell you that that doesn't have to be you. There is no need be like 90 percent of Americans who can't even afford a small financial emergency. In this guide, I will teach you how to save, be thrifty, and build your perfect life. But - you gotta stay focused. To start off let me give you 5 quick tips:
1. Save 15-30 percent of your income per year.
2. Diversify your assets.
3. Have at least 2 streams of income - 1 active, 1 passive.
4. Have a plan A-Z.
5. INVEST IN YOUR HEALTH!
Now. If you only do these 5 things - you are already on the right track. And most people can stop here. Because the rest of this gets pretty high IQ.
So for more advanced strategies, you are going to want to invest in the stock market. And invest in things that build slowly over time, like ETF's, Dividends, or mutual funds. These are low risk but have more potential in the long run. You can try meme stocks but you are basically gambling and 95 percent of people never make money on those. Some examples of stocks to invest in:
1. Commodities Futures
2. Anything Related To The Medical/Healthcare Sector
3. Oil (As of 2022)
4. Food
5. Old Companies like Ford, Nike, etc.
Tips for saving:
1. Don't use name brand items.
2. Use coupons.
3. Don't use toilet paper. Buy a bidet, then you save more money in the long run.
4. Don't buy bottled water. Buy a water filter and use tap water. You are already paying for water through your electric bill.
5. When you go to the store for food, set a budget below 100 dollars.
6. Try to find free or cheap hobbies to have - old video games, fitness, religious groups, free computer games.
7. Do not buy a new car. If you don't like your current one, either tune it and modify it, ride a bike, or use public transportation.
8. Do not spurge money during the holidays. Find a way to celebrate it by having it Incorporated into your daily routine and savings plan- IE: diet, entertainment you consume,
Other things I want to say:
A large part of becoming rich is actually letting go of the desire for money. It sounds backwards but its true. I have had to cut out a lot of thing to get to where I am now. This is why rich people tend to be better behaved, have more self control, and overall are just more efficient people. With that being said, good luck. Unfortunately based on statistics, most of you will not have the self discipline to do this and will fail, but I still wish you well.