Tips For Growing Your Wealth: A Collection of Stories

by The Smarter Wallet on September 13, 2010

We’re all looking for ways to maximize our earnings potential nowadays. Some people pursue that desire by working harder, others try to pursue their dreams by working smarter (building passive income sources on the side), while some others throw caution to the wind and figure that they can make money by becoming entrepreneurs.

Is the life of an entrepreneur for you? Or would you instead be able to thrive with a regular job, but just by working smarter? We’ll try to help by giving you a few resources that could help you decide.

Tips For Growing Your Wealth: A Collection of Stories

First things first, realize that There Is No Shortcut To Making Money. Mike Fanelli shows you how wealth can be built slowly but surely. While he drives home the truth that working hard still pays off, this article gets your feet wet in the world of investing and generating passive income. This way, you can bide your time and start building an income stream, even as you work in a full time job.

As you think about the question, Are You Built To Be An Entrepreneur? Ask yourself the same hard questions that US News asks in this article. Probe your financial skills. Probe your business management skills. Examine your planning skills. Are you ready to take the plunge? Then take a deep breath and make up your mind.

If you need inspiration, there’s nothing better than seeing the fired-up youth take the ground that you were probably hesitant to tread, for fear of going way in over your head. Surprisingly, these Financial Lessons From A 20 Year Old are down-home and old school, yet tried and tested and are actually effective. Get inspiration and apply the tactics that Patrick H. Mabilog applies in his budding career. Be inspired, and understand that if a 20-year-old can do it, so can you.

As you are starting to get serious about working hard, saving and investing in passive income sources, don’t forget to read tips like How To Avoid Gambling Away Your Investments. These give you the wisdom and the brakes you need, to minimize your risk. Understand that stocks and investment options always run a degree of risk; and if you get overexcited, you run the risk of possibly burning your hard-earned wealth. Take the cue from Wise Bread and make sure your investment “brakes” are installed before you take the plunge.

Should the glitter that comes with quick, easy income from Multi-Level Marketing catch your eye, you may want to use a bit of caution. Take a bit of friendly advice from Lazy Man and Money as he wonders about MonaVie’s business model. Are they a scam? While we are all for giving you great investment options, take a sobering minute to see which are proven to work, and which don’t.

Now as you fulfill your savings and wealth building goals, take some time to think about the question, Should You Outsource Your Household Chores?. On one hand, “outsourcing” your household chores could work for you because you’d be freeing up your time for better, more profitable work. On the other hand, it could save you a few dollars, to a few hundred dollars if you worked on your chores yourself. Either way, read and decide.

Before you go, you can never go wrong with one more article about building wealth. How about a whole bunch of them? Don’t cringe! Knowledge is power! Read on and prepare yourself with No Need To Win The Lottery: Personal Finance Blogger Tips on Building Wealth. This way, you definitely won’t need to try the lottery in order to get to your financial goals!

Here’s to a wealthier you!

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