You can create personal wealth and meet your goals. By choosing to budget, save and invest, you can pay off debt, send your child to college, buy a comfortable home, start a business, save for retirement and put money away for a rainy day.
Some people consider themselves wealthy because they live in a very expensive house and travel around the world. Others believe they are wealthy simply because they’re able to pay their bills on time. What we will talk about here is financial wealth and what it means to you.
Building wealth requires having the right information, planning and making good choices. This guide provides basic information and a systematic approach to building wealth. It is based on time-honored principles you have probably heard many times before. By using this guide, you will learn how to:
- Set financial goals
- Create a budget
- Plan your investments
- Build credit
- Control debt
- Protect your wealth with basic insurance
To start, take a moment to think about your definition of wealth.
Some people might define wealth as:
- Being able to put their kids through college
- Having enough money to buy a house