Do those secrets sound like common sense? They should. Most of us know that we need to budget our money, put money aside for the future, and stay out of debt, but many of us still can’t do it. Unfortunately, short of winning the lottery there are no secrets to building wealth. These three sound money management principles are the foundation of personal finance.
One thing is certain. If you can budget your money so that you are spending less than you earn and put some of that money into a savings or retirement account before you have time to spend it, you will be able to save money and build wealth.