You Can Become Wealthy Georgia

An important part of becoming wealthy is money management. Without good money management it doesn't matter how much money you make, you won’t keep it. There are as many money management strategies as there are investment opportunities.

Local Companies

Best Bank
678-993-5353
3770 Data Drive
Norcross, GA
John Wieland Homes & Neighborhood
770-703-1692
4125 Atlanta Road, SE
Smyrna, GA
ACEO Capital Group Llc
(770) 396-6833
1915 Spalding Dr
Atlanta, GA
Sprayberry Insurance Agency, Inc.
(678) 654-6984
5905 steeplechase blvd
cumming, GA
RBC Centura Bank
404-495-6949
4855 Briarcliff Road
Altanta, GA
Ameriprise Financial
678-627-0149
1907 Harts Mill Road
Atlanta, GA
BestBank
678-993-5353
2175 Parklake Drive
Atlanta, GA
Branch Banking & Trust Co. (BB&T)
404-442-5043
950 E. Paces Ferry Rd.
Atlanta, GA
Brookhaven Bank 10
404-633-BANK
2987 Clairmont Road, NE
Atlanta, GA
CDC Federal Credit Union
404-325-3270
2301 Parklake Drive, NE
Atlanta, GA

The first step in money management and thus wealth is debt elimination. You will never become wealthy if your credit cards are “maxed” out every month. You need to show some constraint in your expenses, which we’ll get into below. If your cards are already showing hefty balances, your first action is to get yourself a lower interest rate, either through negotiating with your current credit card company or by switching companies. You would be surprised what you can get, if you just ask. Secondly, you need to make an effort to pay a set amount over and above your minimum payment, even if it is just $5 to start with. But where do you find that extra money each month? This is where step two comes in.

The second step in money management is to have a budgetary strategy. Setting limits on how much you can spend on what types of items. This will be a personal choice for everyone, and will depend on your current financial health. Below are two examples, one for someone who is currently struggling with debt and one for someone who is on their way to becoming wealthy.

Example A

  • 10% of income to reduce debt
  • 10% of income to use on long-term savings for expensive items (car, trip etc.)
  • 10% of income to be used on financial education (self improvement)
  • 60% of income to be used on necessities (mortgage, food, utilities etc.)
  • 10% of income to be used for play (dining out, movies, toys)

    Example B

    • 10% of income to be invested in passive income opportunities
    • 10% of income to use on long-term savings for expensive items (car, trip etc.)
    • 10% of income to be used on financial education (self improvement)
    • 55% of income to be used on necessities (mortgage, food, utilities etc.)
    • 10% of income to be used for play (dining out, movies, toys)
    • 5% of income to be used for charity

    Only your actions and commitment can manage your money to help you on the path to becoming wealthy.

    If you choose to be rich then click here for more helpful information

    About the Author:

    Cory operates a financial education website www.choose-to-be-rich.com

    For more information about Cory, check out the site.

    contactus@choose-to-be-rich.com


    Article Source:

    thePhantomWriters Article Submission Service

Featured Local Company

Best Bank

678-993-5353
3770 Data Drive
Norcross, GA
http://www.bestbank.com/

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