If you read enough biographies of successful people you will notice a common theme – most became wealthy through the purchase of property.
This starts with the family home in most cases and then grows with the purchase of investment properties in Campbelltown. This is no surprise as a home, a shelter from the elements and a place to raise your family, is essential for almost all of us. And it can also be a secure, long-term investment that increases in value over time.
But, surely there is more to it than that. There is! Real wealth is built upon the following simple (but, perhaps not easy) steps. Ask yourself how you are going with each of these;
1. Get Paid What You Are Worth. If you are earning less than you would like, sometimes the easiest thing to do is upgrade your skills, take a course or obtain a qualification.
2. Spend Less Than You Earn. So often, this is the most difficult step. Start by having 10% taken from your salary each week and placed into an investment account (that you never touch) and see how quickly it grows
3. Stick To A Budget. Do you know what it costs to pay your bills? Write everything out in a list and add it up, then vow to spend nothing more each week. This is tough until you get into the habit.
4. Pay Off Your Credit Card Debt. Most credit cards have an interest-free period. Use this wisely, but be sure to pay out the total owing every month.
5. Contribute To Your Superannuation. One of the few ways to legally avoid paying tax and a great savings maximiser – why not contribute more than the 9.25% your employer is required to pay on your behalf, it adds up very quickly.
6. Have A Savings Plan. See step 2 above and start by paying yourself first each week (by contributing to a savings account)
7. Invest! Property is a great start, but not just one property – an investment property in Campbelltown is easy to look after and provides great returns for your future. Ask us how.
