Things You'll Need:
- Self-discipline
- 3 piggy banks
- A Job
- Computer with Internet
- Positive Mindset
- Creativity
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Step 1
Buy 3 piggy banks, it could even be as simple as something like a milk jug. One piggy bank is for savings, the second one is for investments and the last is for charity. Everyday put &1 into each piggy bank. Whatever lose change you have leftover, save them until you get home and put them into your piggy banks. Make sure you divide them equally into each one. The purpose of this is to get you into the habit of paying yourself first by saving your money for investments, savings and donations. If $1 is too much for you on a daily basis then put 50 cents or 25 cents on a daily basis. The point here is to get you into the habit of thinking like a wealthy person. Set a goal to do this for a year. By the end of the year empty all 3 piggy banks out. All the money you have in the savings piggy bank put that into a savings account and leave it alone for 3 years. With the second piggy bank called investments put all that money towards an investment; whether it's stocks,bonds,annuities or even a small business investment. Maybe something like an eBay store. With the 3rd piggy bank, take all that money and donate that to your favorite charity. That way you are keeping a healthy mindset of having multiple streams of income. Money all around!
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Step 2
Set up an eBay Store! It's now easier than ever to run an online eBay store. You can buy products to resell on eBay. But you can also create an online store to market products that others are selling on eBay and share in the commissions generated by the sales. To find more information, check out the eBay Partner Network and the Build a Niche Store (BANS) site.
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Step 3
Start up a Home business! The ideas and potential for a home business are limitless. I know folks who run creative memories stores, operate a video business, have a photography business straight from their home. One of the great benefits about running a home business is that it greatly reduces your initial investment but also allows you to leverage your investment.
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Step 4
Sell a product! I have good friends who have designed a children's game or personalized children's books and are in the process of producing and marketing it. It's a lot of work, but they are passionate about the work, and the potential payoff is huge.
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Step 5
Don't delay. The quicker you get a jump on putting money aside, the easier it will be to stuff a seven-figure cushion. If you start at age 25, for example, investing $286 per month will get you $1 million by age 65, assuming you earn 8% annually.
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Step 6
Freelance writer: If you have a knack for writing, you can earn great money writing for others. Not sure how to start? Contact bloggers who are always looking for great writing. As blogs grow, they can afford to pay freelancers good money for quality articles. Websites looking to build links also hire freelancers to write guest posts to be published on blogs and websites.
Comments
cdbrown16 said
on 10/23/2009 Great ideas & advice!
Beverlyz said
on 10/13/2009 Good Article!