kids. It's a great investment.
2. Did you know that if you had a $80,000 30-year mortgage, a $10,000 car loan, and $3,800 in credit card debt, you could be completely debt-free (including the mortgage) in eight years, five months by using the $300 you make each month from your own business
n a powerful way? In doing so, you would save more than $100,000 in interest! You could then create more than $1.2 million in investments, earning you $10,000 each monthin interest, in the time it would have taken you to pay off your mortgage the traditional way?
Upline Magazine
3. Instead of paying to exercise at a local health club, mow your own lawn or do your own painting. If you feel like more exercise, you can earn extra money by mowing and painting for a neighbor. It's much more fun to exercise when you are getting paid for
it.
4. Eating out doesn't have to be expensive.
Look for two-for-one coupons and make sure to take home a doggie bag of all those extra large portions.
5. A small monthly residual income is more important than you think.
For instance, if you have $24,000 in a bank savings account earning 5% interest, you would earn an extra $1,200 a year. That's $100 a month in extra income. But what is easier to do? Is it easier to save $24,000 after taxes to get a $100 a month residual income -- or is it easier to build a $100 a month residual income from a part-time
business, a Home business bonus check, or other method that creates a monthly check? Always concentrate on ways to build monthly residual incomes. It's a faster, easier way to retire.
6. A smaller home requires smaller home mortgage payments.
This will leave you with disposable income for your investment nest egg. If you purchase the maximum home that you can afford, you won't have extra money for college expenses, vacations, or to invest in opportunities.
7. Purchasing "status" is expensive.
Designer clothes, designer options on your car, and other designer purchases means that you are paying extra for "status." Certainly many designer items have exceptional quality,
but must every purchase be for status? Your true friends will love you for who you are, not for what you purchase.
Ron Randall
Entrepreneur
505-934-4295
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