Wealth Creation Through Self Sufficiency

Adults have different ideas about wealth creation. For the enterprising ones with enough capital, it means putting up a business. For the not-so-hard working ones, it means a miraculous windfall like the national lottery or convincing some rich person to marry them. Then there are those who don't care to establish their business but would rather play the stock market as part of their personal money management scheme.

But what if you don't have the money to start your own business, let alone invest in lottery tickets or the stock market? And what are the odds of your meeting a rich person who will marry you and NOT let you sign a prenuptial agreement? If you hold down a stable job and possess self-confidence, a strong work ethic and adequate money management skills you can build your own wealth slowly but surely. Here are the ways you can get started:

1. Write down your wealth creation goals. Seeing your goals on paper - virtual or otherwise - concretizes your plans and gives you clarity as you define and adjust your priorities over time. One example of a goal would be: "I want to have $20,000 in the bank before my twenty-fifth birthday." With that amount as your initial peg, you can start building towards your first nest egg. Always stick to a realistic figure. If you say, "I want $250,000 in the bank before my twenty-fifth birthday", then you're only setting yourself up for disappointment. It's better to come up with a conservative amount and surprise yourself by surpassing it rather than aim too high and falling short.

2. Plan a budget. If you live on a fixed salary, find ways to allocate your budget that it pays the essentials first, leaves a little for leisure, and leaves slightly more than enough for your bank account. The common advice is to save at least ten percent of your income each month, but try to go for a higher percentage like fifteen or twenty percent. You slightly accelerate wealth creation this way and if your money management is prudent, this is easily attained. You might have to downscale your lifestyle to achieve this but it will be worth it once you start seeing the amount in your savings account go up, up, UP.

3. Assume your job is NOT that stable. This might come across as negative thinking, but try to use this to your advantage. People in high-paying jobs tend to get somewhat cocky and forget to save for a rainy day. They blow their salaries on happy hours at the bar, vacations and other superficial things. Then when the company starts downsizing and they get the pink slip, they realize they have nothing in the bank to tide them over. Don't be like these people. Even if your present job pays good and the company is doing well, try your best to be frugal.

4. Eat humble pie. Not a literal one, assuming you don't know that expression. In this scenario, it means downsizing wherever you can. Do you drive an SUV? Get rid of that gas guzzler and opt for a more economical model. Or better yet, take public transportation. Do you like having wine with your dinner? Skip the wine and opt for an inexpensive drink. Better yet, don't eat out and learn to eat more at home. Your wealth creation endeavor will not succeed if you insist on maintaining a certain lifestyle that eats up a lot of your disposable income!

5. If you have to pay with credit, you can't afford it! Try to avoid using your credit card and opt to pay cash instead so money management becomes easier. Tracking your expenses becomes a challenge - and sometimes an exercise in futility - when you keep swiping that card. Using cash forces you to conserve money, which is a great wealth creation practice. Additionally, you avoid piling on debt that most credit card users are prone to.

Wealth creation and money management are a lifelong process. There will be trials and errors, but don't give up. Just learn from your mistakes, keep going, and one day you will hit pay dirt.

Salamatu Lot is an advocate of personal wealth creation and the power of self-sufficiency. Learn more how you can become financially independent even in tough times.

Article Source: http://EzineArticles.com/?expert=Salamatu_C_Lot

How to Get Quick Cash Up to $1,500

When you are in need of quick cash with no credit checks and no faxing, online personal loans have got you covered. Online payday loan companies are a financial matching service that connects borrowers like you with cash advance lenders who provide cash loans in a matter of hours. With a secure application process they provide the borrower with the resources they need to get a quick payday loan so that they can move on with their lives. The quick cash application process is simple and takes just a few minutes. After you apply they will connect you with lenders who require no credit checks and no signing of documents for loans up to $1,500.

Quick Cash Application

An express application is straight-forward and allows for instant approval from online emergency funds lenders. If you have a home phone, an active checking account, and proof of income from your job, you have satisfied the basic criteria to pre-qualify. The approval process only takes a few minutes and quick cash lenders will have money transferred to your bank account in under 24-hours. The entire application process is completely secure and your financial and personal information will not be shared with anyone outside the lending agreement. Online short term cash loan companies adhere to all security and banking standards and utilize HTTPS secure server connections so that your personal information is never leaked.

Quick Cash Terms

Once you apply for a quick cash loan you will be connected with trusted lenders who will be competing for your business. Online cash advance companies are a trusted lending option and they have developed relationships with cash lenders who want to work with people like you. Once you have decided on a lender that you approve you will be required to fill out an agreement that contains the terms and conditions of your cash loan. This agreement will contain the payback date that you are expected to comply with as well as the interest rates that correspond with your loan. Borrowers should be aware that if they exceed the payback date the interest rates associated with their loan will likely increase. You are free to extend your payback period until you reach a position in which you are financially stable enough to pay back your loan but should be aware of any additional charges or interest hikes that occur from doing so.

The online personal loan application processes is completely free and contains no obligations from the applicants or hidden costs. Simply fill out the application and they will connect you with quick cash lenders who can put money in your hands today.

Your emergency personal loan can easily be obtained online at http://www.faxlessfinancial.com/ for an online payday cash advance.

Article Source: http://EzineArticles.com/?expert=Andrew_L_Hallinan

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