Friday, August 27, 2010

Financial Lessons From A 20 Year Old

There is a 20 year old entrepreneur I am familiar with who, at his young age, has reaped marketing awards and has closed thousand-dollar deals with medium-scale enterprises in his community. At his age, he not only enjoys the comforts of independence, but he also enjoys a debt-free existence.

In the course of my conversation with the young entrepreneur, I learned a few things from him. I’m sharing this with you, because I believe that you may be able to benefit from his methods, and improve your own personal financial habits.
Here are five habits I observed from him:

  1. He saves HALF of his salary. Granted, his salary is twice the salary of mid-level managers in his community, but the fact remains that he SAVES it. Sure, he treats himself to creature comforts like designer clothes, but he also makes sure that he has his limits. The pace at which he saves money can easily allow him to invest a significant amount with top notch investment brokers. Doing so can help increase his net worth faster.

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