The Simple Way to Wealth

Do you want to become wealthy? Most anyone would answer yes to this question. Yet it has always been a simple thing to build wealth, but so few people seem to realize it. Either they've never been taught about finances or they're too interested in instant gratification and put wants before wealth. Whatever the case may be, it is truly simple to build wealth by following a very simple plan.

What is this plan? Think of it as the 10-20-70 plan. That is, from any income you receive, 10% goes into savings and investments, 20% is budgeted towards reducing and eliminating debt and the remaining 70% is for living expenses. You "pay yourself first" 10% of everything you earn before you pay anything else. This is money you keep for yourself, for building your future wealth, not to be used for any other purpose. The 20% for debt reduction goes towards paying off credit card bills, auto loans etc.. The remaining 70% of income is for living expenses. If you can't afford something you want out of the 70%, you simply do without until you can afford to pay with cash. This is not some new or revolutionary idea, it's been around for years. But it is a proven plan and is simple enough for anyone to follow.

So there you have it. The simple way to build wealth. With this plan, anyone can eventually become quite well off. It takes time and discipline, but is well worth it in the end. The younger you start, the better. I only wish I'd had someone to explain this to me when I was younger, I'd be much better off today. But no matter your age or financial status, if you make up your mind to improve your financial situation and you start following this plan today, your guaranteed a much brighter future.