Wealth Building 101!

8. May 2009 by Jeff Parker/CEO.

How many people do you know who never give any thought to money except to complain about the lack of it? Where does one learn about money management and the accumulation of wealth? The unfortunate reality is that unless you were blessed with parents who really understood the financial principles that work, you probably weren’t exposed to wealth building strategies.
How many of our readers took a course in high school or college called Wealth Building 101? We were taught math and maybe how to balance our checkbooks, but never were we taught how to get the money into our accounts in the first place. In today’s economy, the old system of get a college education, get a good job, work for 40 years and retire comfortably just isn’t working anymore.

We “The People” the educational task where formal institutions have failed. It doesn’t make sense to see so many families struggling to get by financially even with both spouses working outside the home. With our almost totally cashless society and dependence on credit, the #1 cause for financial lack is overspending. It seems so obvious that one shouldn’t spend more than one earns, but the problem is most people don’t know they are overspending until it is too late.
So we believe the first step in Wealth Building is to get a handle on where you are financially right now. Take a good honest look at how much is coming in and how much is going out. Admit to exactly how much you have in outstanding debt and commit to stopping the vicious cycle. Join us next week when we will go over a specific spending plan to help you get back on track.

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