Wednesday, June 1, 2011

Can Rich Dad, Poor Dad benefit us?

How are you doing on your pursuit of financial freedom?  Already I have listed several websites I have used to actually make money on the web.  Taking surveys, writing for websites, posting advertisements and changing your shopping habits are only a few ways you can find a few extra dollars a month.  So what have you done with the extra money you have saved?  Have you been paying down your credit cards?  Eliminating debt?   Now that you are earning extra income, what should you do with it.

The principles of Rich Dad Poor Dad can be applied on much smaller scales, to coincide with your modest increase of income.  Ultimately you want to limit your bad debt.  That new car stereo, that week in Vegas, or the new MacBook Pro, you might want to hold off on that.  When you think about the APR on a credit card, some reaching and exceeding 20%, you are wasting a fortune.  Not even the best stocks, certificates of deposits, or savings accounts will offer you a 20% interest rate, yet some people pay that monthly to their creditors.  The best way to make money, is to save money.  If you are wise, the even minor  (or major) wealth you've created from following this site can help reduce your debt.  And the quicker you are debt free, you can truly grow your wealth. 

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