What Not to do if You Want to Become Wealthy
There are some tried and true techniques that you can learn from some of the top entrepreneurs in the world about how to become wealthy. The following information will not teach you how to amass a fortune. This is a guide for what not to do if you want to achieve fame and riches. This is an easier and more sensible approach. If you avoid the types of activities that I have identified with not becoming wealthy, then you have won half the battle and can then focus on the things you can do positively to make your dreams come true.
Do not marry someone with a bad credit score. This is a general truism and covers a wide variety of problems that will happen to you if you become involved with someone who does not have the sense to pay their debts on time, or become inundated with debt to the point where they owe more than they make. You will have trouble acquiring credit yourself since many of the credit reporting agencies will ding you for having a housemate with bad credit. He or she will run up your credit cards and eventually ask you to co-sign something for them. Dont do it. You will eventually break up with this person and you dont want to get stuck with their debt.
Dont get behind on your taxes. This may seem impossible to do but if you are 1099d you need to put away at least thirty percent of your gross earnings to pay your quarterly tax bill. Once you get behind on your taxes it is very difficult to catch up. Remember, the government continues to add penalties for late payers so the debt mounts instead of reducing. If you dont pay eventually the government will place a federal lien on your assets, and that would make it even more difficult if you are trying to become wealthy.
Dont have too many credit cards. You have to live within your means. It does not mean that you cannot have one or two credit cards, which you pay off at the end of each month. It does, however, mean that you cannot run up the balance on ten different credit cards and expect to become wealthy overnight. It will not happen.
Dont spend recklessly. Be careful. Put any extra money into some sort of interest bearing account. Through the miracle of compound interest your money will grow over time and give you the tools you need to become wealthy.