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How To Save A Million Dollars! | GSK WEALTH BUILDERS | #WealthElevation 

11/23/2015

 
On Episode 4 How to save a million dollars and control your financial destiny on #MoneyMakingMonday. 

#KEY POINTS
  • Wealth is destroyed mainly by one thing, lack of knowledge
  • To be financially successful you must understand: Money, Taxes, Finance , Profitability
  • Wealth and income is a function of your Productivity. To increase income we must: 
    • ​Work Harder, 
    • Be Smarter, or
    • Be More Creative
​3 Secrets the 1% use to their advantage​
  1. Compound interest 
  2. Develop Amazing Habits, and NEVER LOSE MONEY
  3. Time value of money and opportunity cost
          $1 = $17.45         $10 = $174.50        $100 = $1744.94

8 Ways, to stop leaks that are destroying your wealth
  1. Bargain Shopping : Learn to become a producer and not a consumer
  2. Luxury Cars: Are copies of standard cars owned by the same company (i.e. VW & Audi)
  3. Over paying on insurance: Check for better rates once a year at multiple companies
  4. Cancel Cable TV and get Netflix or HULU
  5. Over paying on cell phone bills: Avg Canadian spends $62/mth 
  6. Dining out: Order takeout instead or reduce buying alcohol at restaurants/bars
  7. Buy a Hybrid Vehicle: Save on your gas monthly (largest saving)
  8. Reduce Paying for parking : Get to your location early and find free parking

If you implement these strategies and  save $500/month over 30 years
your savings will be over $ 1,132,000 in 30 years!!!
Even if you were able to save $100/month your savings will be over $216,000 in 30 years

#LINKS
MY #WealthElevation GIFTS TO YOU | http://goo.gl/wu94dI

Compare Insurance: https://www.kanetix.ca/auto-insurance

Compound Interest Calculator: http://goo.gl/UmYy36
 
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How To Save A Million Dollars! | GSK WEALTH BUILDERS | #WealthElevation
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