GROW MONEY
Think Rich
One way to make your money grow is to make more money. Author and self-made multimillionaire Grant Cardone said in Entrepreneur online that the wealthy have a certain mindset. They are not motivated by fear and scarcity; they do not finish all of the food on their plate because there are starving people on Earth. They focus instead on what they can contribute to the world, and they study other multimillionaires to find out what motivates them. Multimillionaires also think about time differently. They buy it, not sell it. They work only on what they are good at and hire people to do chores that take time from their goals.
Pay Yourself First
Before you pay any of your bills, pay yourself. Determine a percentage of your paycheck that you want to keep for yourself, and put that into a savings account. It usually works best if you set this up through automatic deduction. Financial expert David Bach said on CBS News to pay yourself one hour’s worth of income every day. It pays off to do this while you are young; if you wait until you are 40, Bach recommends paying yourself two hours' worth of income a day, which is a difficult pill to swallow for most folks. Another way to calculate how much to save would be to shoot for 12.5 percent of your gross income. Most people save only 4 percent, which typically works out to 22 minutes of income a day.
