Tips for Building Wealth

How did I begin to build wealth? I followed the advice in many
informative books I have read through the years, including “Priceless”
by Dave Ramsey, “Rich Dad, Poor Dad” by Robert Kiyosaki and
“The Millionaire Next Door” by Thomas Stanley and William Danko.
Here are some of the most useful tips I have gathered:
You need an emergency fund to handle unexpected needs.
If your car breaks down, or some other unexpected expense
occurs, you will have the funds to handle the unforeseen circumstance
instead of going into credit card debt. Sometimes, we do not
see the value in saving until we experience an unexpected hardship.
I will say it again: YOU NEED AN EMERGENCY FUND!
There are many vultures in the world waiting to seize an opportunity
to create debt for you that you may be unable to pay back. Pay
day loans and high-interest loans from banks and credit services
come to mind. Without an available emergency fund, you will be at
the lender’s mercy.
“The rich rules over the poor, And the borrower is
servant to the lender.” (Proverbs 22:7)
Devin Oten
DO Enterprises
Writer, Public Speaker and Philanthropist