Becoming Financially Secure

Most everyone dreams of becoming rich or at the minimum living comfortably.  If you are on this page, you are most likely researching information.  You have come to the right place to get the information you need.

There is no get rich quick scheme that works.  It takes time and patience to build wealth.  And the key here is "building your wealth".

There are many sites that give you a plan to work with.  You may feel that the plan provided isn't always viable for every working person unless it can be broken down to your level. 

Let's say you are in your early to mid 20's and you have a job working at a department store earning minimum wage.  Depending on whether you are paid weekly or biweekly, let's say you put aside $10 to $20 each week for your savings.  This is a good thing to do and it is a fantastic start.  But then you run into a budget issue and out of the $40 you save every month, you start withdrawing $20.  Now you are decreasing the amount of money that you will have saved and earned interest on throughout the year.

The first thing that needs to occur here is that a set amount needs to be saved and "forgotten" about.  Now for those of you who cannot forget about your money sitting there; I'm going to give you a couple of suggestions for saving these funds and holding onto them without touching them.

1.  WITHDRAWAL PENALTY

This first suggestion is to make it difficult to withdraw the money because of the fee that would be imposed upon you for withdrawing the funds.  This is something that you can negotiate with the financial institution (credits unions are really good with this).  This particular type of account will typically have two stipulations attached.  One stipulation may be that the account holder has to be a certain age to withdraw funds.  The other stipulation would be that it costs a fee to withdraw funds early.  Would you really want to give someone $50 (at least) of your money just to get $20?  Think about it, $70 is a lot of money to withdraw from your account for an item that you may not really need or for which you may be able to find another resolution.

2.  TRUST ACCOUNT

This second suggestion which is also a part of the first suggestion is that the account is in trust until you reach a certain age.  For example, you may not have access to the account until you are 55 years of age. Imagine how much money you will have saved over the course of 20 years along with interest earned.  If you start out saving $10 per week and increase that weekly savings over time; as a young person, you are well on your way to financial stability.


Even if you are older, this is a proven method that can work for you.  It is never too late to start putting money aside for your future.