7 Easy Steps to Accumulating Wealth

This article is installment 1 of 7 easy steps to accumulating wealth.

We are told time and time again as Americans we spend more money. Everyone complains that only if they had more money, their problems would go away. We all know that is not true. It might solve some problems but not all our problems. How many times have we heard those who won the lottery are poor within a couple of years? We think to ourselves, ''that would never happen to us''.

How could the winners lose all that money? Simple! It is a lack of discipline and education (not the education of scholastic aptitude) but a lack of financial education and as I said before discipline.

Remember it's not how much you spend but how much you save that is important. Let's take a look at some simple steps to put money back into your pocket.

Step 1-Your Car The price of gasoline is rising. Sure it has come down in the past few months but if you compare the price of gas this year to last year we are still paying more. No, I am not asking you to give up your car or ride a bicycle to work (although it would be better for your health, just not practical). If you are driving a big vehicle and you really do not need it (i.e. for work), sell it and get a smaller vehicle. Obviously, if the car is paid off keep it. But you still might be able to spend less money with a smaller vehicle especially with respect to repairs and gasoline. If you own a large vehicle and really don't need it, now might be the time to downsize. You'll save in gasoline, repairs and most likely insurance.

Let's take a moment and discuss the purchase of a used car. I apologize. The term ''used car'' is not politically correct. I meant to say ''pre-owned vehicle''. It's okay to purchase a good pre-owned vehicle. The best way to ascertain the perfect pre-owned vehicle (low repair rate, MPG rate, etc) is to check out Consumer Report. You then take said vehicle to your mechanic. Have him/her perform a diagnostic test and get guidance on the ''wellness'' of the car. In other words, how long will the car last.

I would like to discuss one last tip. I had the opportunity to have a patient that was an auto mechanic. I learned a lot from him. One of the things I learned form him is how to properly budget for repairs. He told me to save $20-25 per week or every two weeks in an envelope. That way, if a repair comes up you will have half if not all the money to pay for the repair. This has made my life with cars much easier.

Little changes at a time will lead to bigger changes in the long run. Here is to your Health, Wealth and Happiness.

Dr. Michael Kaye

www.frompaintopersonalgain.com

Dr. Michael J. Kaye has been a practicing Chiropractor over the last 18 years. He holds a post-graduate degree in Rehabilitation. His practice focuses on treatment for the chronic and post-surgical patient. He has published articles on post-surgical knee rehabilitation; and chronic myofascial pain syndrome. He has developed a web site www.frompaintopersonalgain.com devoted to health, wealth and happiness. His coaching site is www.coachinggps.com Contact the author, Michael Kaye , at mijokye@comcast.net