RICH TIPS…4 dummies…?
Question by troyrainmaker: RICH TIPS…4 dummies…?
Please give me some rich tips on how to save and grow money. Example.: Buy a used car with cash from an auction.; Buy generic label products instead of name brand.; Buy bar soap instead of liquid soap.;If you are a good driver, raise your deductible on your car insurance for lower monthly payments.; Download movies instead of going to the movies. etc..etc..etc…I’m seeking some good intelligent answers. Some silly answers are o.k. if they make me laugh.
Thanks a lot!…..
I’m looking for one liner answers, not a paragragh on investing money. example:Use coupons.; quit smoking;ride a bicycle to work;carpool,etc..etc…
Best answer:
Answer by shiprepairwoman
Invest don’t just save money in safe places. Take on debt if you can use your money for a better return. Earning more gets you farther than saving because if you save the same percentage you are saving more money.
Young people often don’t take risk that they should take because it is scary like buying a first house or investing in equities but instead take risk that never pay off like buying things on credit especially new cars.
Also just because you have cash for something doesn’t mean it is a good idea to spend it on that. Some will be thousands in debt but instead of paying it off save cash for other wants.
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