People who read the above must think I am mad or something??!!
How to be rich if spend a lot and have low savings?
Let me explain it simply:
High expenses- this would be be used to buy stocks which pays good dividends or to downpayment properties which can be rented out to pay back the mortgage. Dividends are income, but do not spend them, instead quickily reinvest them so that they can be put to work asap.
Low savings - Apart from emergency funds, other monies should be put to work and not left to rot in the bank.
Live simply - Live well below one's means, but no need to go to the extent miserly.
Just enough time for a short post.
Feel free to post comments.
How to be rich if spend a lot and have low savings?
Let me explain it simply:
High expenses- this would be be used to buy stocks which pays good dividends or to downpayment properties which can be rented out to pay back the mortgage. Dividends are income, but do not spend them, instead quickily reinvest them so that they can be put to work asap.
Low savings - Apart from emergency funds, other monies should be put to work and not left to rot in the bank.
Live simply - Live well below one's means, but no need to go to the extent miserly.
Just enough time for a short post.
Feel free to post comments.
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