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Can You Become A Wealthy Person?

May 20, 2008
Do you want to be a wealthy person? I an sure you want to be. However, do you know how you can become one? Yes, this may probably be the most challenging question.

In fact, you can become wealthy step by step if you want. Remember, you will become a wealthy person only if you want to become one. Yet it is not that easy to do it. You have to work a little bit in order to do so.

Of course there may be people saying that wealth is not necessarily proportional to the amount of money or the values of the assets you have. Yes it is true that we can be psychologically wealthy to this end. However, what we are concentrating in this article is to see how you can become a financially wealthy person.

First of all, you have to examine your current financial status or condition. Yes you have to understand your current condition in order to help you to become wealthy. Of course you have to be honest to yourself so that you can examine your current financial condition accurately. There is no point to cheat yourself. For example, if you are in debt now, your first priority will be getting rid of the debts. On the other hand, if you are debt free now, you may need to start finding ways to invest in order to have your net worth gain.

You should also try to see how you are making money now. Is your salary from your the job the only income you have? In fact, the answer of most people for this question is probably a YES. If you are one of those people, you have to understand what is your ability and you should also try to learn how you can make money apart from getting the salary every month.

You need to have a goal in order to become wealthy. Most expert will tell you that you should try to save 5 to 8 percent of your income every month. What is your goal to this end? Will your goal be saving 10% every month? You have to work hard in order to achieve this goal. Sometimes we will just spend the money without any control. For example, your friend may invite you to a dinner and you may need to spend some money on it. So, you should have the self discipline otherwise you will not be able to achieve your goal.
About the Author
The author has great interest in finance. You can check his blog on Personal Financial Planning . Be sure to check Mortgage Leads - Free Vs. Filtered and Forex Signals .
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