What Will Make You Rich

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A lot of people focus on the minor details of their financial lives, like how much they spend on specialty coffee.

For most people, there are common major expenditure items that may determine whether they become wealthy or struggle financially throughout their lives. Here are some of them.

  1. How much is your car payment?
    Your car payment impacts your financial situation. It may be too large a monthly payment that becomes an obstacle to having enough money to do other things. If you borrow too much and keep updating your cars every few years, you'll find it much more difficult to avoid debt and get ahead financially.

  2. How much is your house payment?
    Housing expenditures are likely to be your largest monthly payment. Stretching your budget to buy a home you can't afford will consume so much of your money in monthly payments. Some have monthly payments, which leave them with nothing. You can't invest and possibly grow rich.

  3. How much you invest.
    You can invest money so that it can earn additional funds for you. If you can earn a 10% average yearly return on your investment, you can reinvest it all. You'll have a larger amount of money to earn returns on next year, and your earnings will expand exponentially.

People say to keep your housing payment to no more than 25% of monthly take-home pay. Some say that your car payment must not be more than about 10%. And if you don't overspend, save cash to invest. And those investments you're making may help you build the wealth you deserve.



😍#ilikeitalot!😍


All photos were taken by me with my iPhone.

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Do your own research!


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Best Regards,

@silversaver888

I am not a financial adviser. This article is not meant to be financial advice. My articles on cryptos, precious metals, and money share my personal opinion, experiences, and general information on cryptos, precious metals, and money.
All photos, gif, and video were taken by me with my iPhone, unless specified.

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I post an article daily. I feature precious metals every other day, and on other days I post articles of general interest. Follow me on my journey to save in silver and gold.

@silversaver888

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Good. Great post 👍. Nice to know about that.

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Thank you. Finances are easy to navigate, if the mind is not cluttered too much with other things! Unfortunately, we are beings that are so complicated!
!invest_vote

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 153 of my contest just started...you can now check the winners of the previous week!
!BEER
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Although I believe in investing in silver and gold, the volatile movements of the markets have been scaring me lately.
I hope everything goes well for us.

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Buying gold and silver is not for everyone. Others are fine just saving money, and investing it in other financial instruments! It is important that we all save!
I also hope that everything goes well for everybody.
!PIZZA

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You forgot point #4: Don't have kids 😜

Just to clarify, I'm joking. But it's undeniable they are expensive.

!PIMP

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They say that what comes with kids is a loaf of bread! I strongly believe in that! But alas, I don't have a child!
!PIMP

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Ms. Saver @silversaver888
Boat Car at the beginning of the Video, how Cool is That ?

!LOL

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Great article and vehicle payments tend to be quite expensive for people

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Very good guidelines @silversaver888 !😊
Then, when possible remove these debts so you can save and invest in earnest !😇😊

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Five or less more years for this house!!! I can't wait!!!
I can't believe I've lived here for six years already!!!
@silvertop, we will celebrate when I have finally purchased this house from the bank.😊
!WINE

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That sounds excellent @silversaver888, five more years and the house is all yours, congratulations !🤗
It’s very freeing having a paid off mortgage !😇🤗😊

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(Edited)

PIZZA!

$PIZZA slices delivered:
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silversaver888 tipped hikergirl
lolzbot tipped silversaver888
@stokjockey(1/5) tipped @kerrislravenhill

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(Edited)

"Yoo're a auld o' th' horn hen!" 😉 -Keptin

flinch.jpg

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For me,
With my mortgage payments history that left me more than enough room for car payments, and the difference in savings in fuel costs net of electricity cost is the gravy on top.

Always, with love 🤗🌺❤️

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!HBIT

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Most people live beyond their means but don’t even see it or care.

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I always think buying precious metals is an investment. Its more stable !

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I really feel for people trying to buy homes nowadays! Here, the housing market is outrageous! It's lucky if someone's rent payment is 25% of their paycheck, and often, the house payments are as bad. I think the key to that is to understand you won't get a perfect house and be able to afford it. Try to ironically look for the worst house in a good neighborhood. Hopefully the price tag doesn't blow one away! If they can find that home, they can fix it up and then either stay there as it appreciates or go ahead and turn it. In the end, the improvements that have been made should multiply it's value. It's tough out there!

Thanks for sharing sis; have a lovely day; love ya much!🤗😘💞🌸

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Great advice, but unfortunately I see many people over extending getting a fancy car to impress people instead of getting something more modest and investing the rest

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I think The skill of learning anything is equally important 🌿 yes you are true, the most important skill is "financial Knowledge"

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