I love when i hear people say that my page helped them make a great income!
I HATE when i hear about people in show business or in the professional sports world that get rich and go out and buy the biggest house, the fastest cars, the nicest jewelry and waste all of their money right when they get it.
Yes it is a good thing to spoil yourself a little, because you have earned it. My rule that i follow is put ATLEAST 50% of your income into investments and use the rest for whatever. (Of course this isn't including your food and living)
With that 50% or more that you put to the side, i suggest you invest it! Invest it in homes, stocks and programs you see succeeding in the future.
Think about it this way... if you Invest $100,000 it will become $200,000 in a couple years without you even touching it.
Investing is one of the greatest ways on earth to make money, although it does take money and time to invest.
Stock Market
The stock market is a sufficient way of investing your money. Invest in things that you know will go up slowly but surely. Don't always try to guess the new Microsoft or the new Nike. It is okay to do that just don't put all of your money on one business unless you are very confident it will suceed. Before you invest your money in the stock market i suggest you watch it for a while to see what company's have a steady gain.
Buying Houses
Buying a house is the best investment you can make. If you put a down payment on a $100,000 house, you can pay the monthly payments off by a) you living there and paying it off yourself b) renting the house out and having the tenant staying there pay the monthly payments. All you will be paying for is the down payment and some maintenance, if needed. after a couple years ( the longer you wait the better) you can put the house back up for sale, in 5 years the house would have doubled in value, so you will be making $100,000 opposed to having the same $100,000 in the bank.
Never Let Your Money Sit!
What i mean by this is, never leave a great amount of money in the bank. Having some spending money is okay to have in the bank but never let money that you don't plan on using just sit there. When you let money sit in the bank the value of it goes down. No...The Number doesn't go down it probably will go up very slightly but the VALUE of the money will go down.
Think about if you made a great income one year and you had enough money to make a couple down payments on a couple houses. You could buy those houses and rent them out for 5...10...15...20 years how ever long you want, and make money off of renting them out to people. When you want or need to sell them you will have doubled, tripled, even quadrupled your money.
The value of the american dollar is going down with every year that goes by, so always remember to be smart with your money. Don't go blow it, and ALWAYS invest some of it for the future!
