How to Start Building Wealth

The most important aspect of building wealth is to get started today. It does not matter how much your income is, or the amount you are able save right now. The idea is to get in the habit of paying yourself before you pay others. You work too hard for your money just to let it disappear. Saving money is how you reward yourself for all the hard work. You deserve to have wealth and to be financially secure; and you will if you start saving today. Today needs to be the beginning of your new life. As I have explained in a previous post, through the power of compound interest, the small sums of money you save today will become enormous sums in the future.

How to begin:
The easiest way to begin investing is to start a monthly automatic transfer from you checking account to your savings. I myself struggle with saving money. What I do to overcome this is to lock that money away before I can spend it. This is why I don't carry cash on me.( I tend to give it all away to vending machines.) Over time, your savings account will become large enough to begin your portfolio. I highly suggest you put your first $1,000 in a Certificate of Deposit or CD. CD's can be obtained by banks and other investment organizations. I prefer to invest in CD's with CIEF (church investors extension fund) they have good rates and help a good cause.
The reason CD's are great to begin with is that you are unable to spend your saved money, and more importantly your first investment needs to be easy, safe, and rewarding. Most CD's run percentage rates at 5%. So a $1,000 in two years will become $1,130, which is that much, but $1,130 is much larger than ZERO if you never saved at all.