Adrian Newman’s latest ‘e-Wealth Daily’ article is titled “10 Ways to Accumulate More Money; Part 2”. [Adrian Newman’s Article]

Adrian Newman’s latest ‘e-Wealth Daily’ article:

10 Ways to Accumulate More Money; Part 2

It’s Monday morning and I hope your weekend plans included a little rest and relaxation.

On Saturday, I began my list of the 10 ways you can accumulate more money. Here are the remaining five ways:

6) You Will Be a Millionaire: Did you know that if you work a 40-hour work week, from the age of 25 to 65, at the average wage of $10.68 per hour, you will earn a million dollars?

This may sound like a cruel joke, but if you are earning this amount of money or have been working since before you were 25, then you should have no problem saving a million for your retirement. Chances are you’ll handle a million dollars during your lifetime. Will you choose to control it?

7) Compounding: Save $1.00 a day. It’s as simple as that. Put that bill in a coffee tin and empty it out into a money market mutual fund each year. Watch it grow, and pretty soon you’ll have thousands.

There are a lot of things we spend a dollar on daily: a cup of coffee, a soft drink, a newspaper. Imagine if you eliminated all three of these and saved $3 a day. You would have almost $11,000 in 10 years. And this is calculated without interest!

8) Buy Now or Buy Later: Never get pressured into buying something “right now!” A salesperson will try to convince you that the item you want will either go up in price or be unavailable if you don’t get it today. Nonsense!

Like any major purchase, shop around for the best price. If you aren’t finding the price you want, then either wait for the price to come down or face the fact that you may not be able to afford it.

Never fall into the sales trap that today is the last time you’ll ever see this product at this price again. There is competition. Also, be careful about walking into stores (particularly electronics stores) that offer “limited quantity” sales. Some stores will have just one of the items on sale; then they get you in the door and convince you to buy something else.

9) Know Your Money: So many people leave their money management to banks or other financial planners. I’ve got a great idea: do it yourself. It doesn’t hurt to have basic knowledge of your own finances, as well as knowledge of other financial tools that you could use to maximize your money.

10) A Penny Saved: A penny saved is not a penny earned! Ben Franklin never took into account income tax, sales tax, and credit card interest. All of these will factor into your purchase. So, you’ll basically need to earn 1.5 pennies to spend one. That $800.00 home theater system is actually costing you $1,200 out of your gross income.

Think about all 10 of these tips next time you are calculating your finances. Try using some of them for a month. You’ll notice how much more money you’ll have in the bank!

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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