How to Build Wealth

This is a simple set of moreso guidelines to help you learn how to make more money.

Difficulty: Moderate

Instructions

Things You'll Need:

• n/a

1. The first step to making money is saving, always. You will need at least a small source of income to save aswell.

2. You will need to pay off any and ALL credit card debts that you may have, this is very important because any capital that you will be making will be taken right away by the credit card company's

3. Depending on how much money you have saved, and where the markets stand decides your next path, investing in real estate, stocks, mutual funds or to open a buisness.

4. There are many, many different ways to invest your money. Stocks are my favorite just because I like to witness my money move, however they are the riskiest to lose money as well. Mutual funds are most likely the easiest way to make money, but they do not have near as big of a chance to make big money like stocks do.

5. In order to invest in a type of market you will need to open an account with some type of trading firm. A few are td ameritrade, e trade, Scott trade, Charles Schwab. These are a few low commission (what you are charged to make an order) internet accessible firms to trade on.

Tips & Warnings

• be careful where you put your money and do your homework before investing, such as comparing prices of houses in an area or how much money a company is bringing in this year versus last year to help decide if it is a good investment
• I am not to be blamed if you do not make as much money as you had hoped. You must do homework for any of these to work, as bad as it sounds it is the truth

[iamageniuster]

on 10/18/2008 Great tips. 5 stars! Thanks for sharing.

[tacelica211]

on 2/29/2008 thank you for your tips, i hope they help me as much as i think they will