There is one rule to building wealth that will almost guarantee you to be successful. It is not learning everything about investing and the stock market. It is not about learning everything about investing in real estate.
Anyone can learn this golden rule and apply it to their every day lives. Anyone that has any income at all will be able to use this rule to become wealthier starting today.
All right, here it is. Learn to live on 90% of your current income and save the other 10% for investing for your future. Pretty simple rule, just as many of the wealth building strategies really are.
The key here, however, is to have discipline. This means for every $100.00 you earn save ten bucks. Put this amount somewhere where you can never touch it, except to invest at a later date. Never spend this amount on anything that may tempt you in the future. This includes buying a new house, a new car or whatever you desire. Don't touch it. Period.
Calculate what 10% of your current take home pay is each month. Now calculate how much money you could be saving each year by using this rule. Do you think this could have a positive impact on your future wealth. You bet it could.
Don't wait. Start using this rule now.