Tuesday, May 1, 2007

Spend Less, Earn More

The single most important thing you can do to build wealth is save money. My first piece of advice is to become aware of how much you spend and what you spend it on. People who know what they spend money on are less likely to thro money around on the latest gadget. While budgeting your money is a great way to cut costs (if you actually stick to your budget), I first recommend writing down your expenses (http://www.buxfer.com/).

The key to building wealth is not spending more than you make. Without cash in the bank you have no chance to invest and grow you money, and no buffer in case of an unexpected expense.

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