The Easy Way into the Upper Class

The Easy Way into the Upper ClassMost of us want to have money. We want to have money because money allows us to do things. Some of those things are basic like eating and having a place to live. Other things that we want money for are considered luxuries in other parts of the world like having a vehicle, going on vacations, and retirement. When we don’t have enough money, or when we don’t have as much money as we think our friends or others have, we complain about it. Nobody has ever told me they have too much money. You don’t need to be super smart, a world-class athlete, or a doctor or lawyer in order to have money and be in the upper class. You only need to do four things. This is the easy way into the upper class.

Have a Written Plan

The first thing that you need to have in order to build wealth is a written plan. I suggest you go with a zero-based budget, but there are other types of budgets out there that can benefit you, so you need to determine which type of budget is best for you. When you have no written plan, you do not know if you are on track to reach your financial goals. When you have a written budget, you are being intentional with your money, and being intentional with your money causes you to build wealth.

Get Out of Debt

Your income is your most powerful wealth-building tool, but when it goes to credit card payments and student loan debt, you have no income left to build wealth with. Getting out of debt cannot be a 10-year process, because the longer you drag this out, the less of a chance you have of getting out of debt. The opposite is true, however. The faster you get out of debt the better chance you have. It starts by having a written plan so you can be intentional about paying off your debt.

Live on Less Than You Make

When you live on less than you make you no longer need to rely on debt in order to get by, but you also have money available to pay off your debt and to save. You cannot live on less than you make without being content. When you’re not content you compare yourself to your friends, neighbors, or family members, and it causes you to try to compete with them by buying more things and spending your money. You cannot be content when you think you are owed something by the rest of society. If you think you need additional income you go work for it. Don’t rely on anyone else to do this for you. You can better yourself in order to increase your opportunities. There is one person whom you should rely on to do this. That is you! Wanting more and more and not being content with what you have is an endless cycle that has no benefit for you and your family. In fact, it is detrimental to your financial well-being. Being content helps you to live within your means.

Save Money

Once your debt is gone and you’re living within your means, you will see your wealth increase like you have never seen it before. If you save $300 a month from age 25 to 65, you will have close to $2,000,000 at age 65. When you have no debt, saving $300 each month is as easy as can be. Once your house is paid for, the amount of money you can save goes through the roof and so does your wealth. Buy an affordable house and get it paid off in less than seven years. You should then be able to easily save more than $1,000 every month even on an average income. Saving $2,000 a month is not out of the question at this point. When you don’t have any payments, you have money you can save!

I want you to become wealthy. Be intentional with your money by having a written plan each month. Pay off your debt and live within your means. And finally, save money and watch it grow. These four things are the easy way into the upper class.

 

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