29 December 2010

Income To Make You Rich Pt 2

In pt 1 of this series, I spoke in detail about the different kinds of income there are and highlighted the fact that earned income i.e. The income that 95% of us work for by staying at a job, getting promoted etc, is flawed and extremely slow for a number of different reasons. I also touched on the different types of income there are and gave an explanation of each, for those who are inspired to take action to also reach their own yell0brickrd.Read more about it here.

I mentioned that in the middle of all three different types lies portfolio income which is generally derived from stock [buying an interest in a company]. Many investors, one of which is Warren Buffet [Worth $47bn],

26 December 2010

Income To Make You Rich

This is Pt 1 of a 3 Pt series

So far I have spoken a great deal about my fundamental plan and how I will build a solid foundation by splitting my money between Metals And ISA's

The first thing I discovered and commented on in A Financial Plan For Security is that 'nobody ever gets really wealthy’ from a job, even when they are at the very top. My inspiration to reach my destination originally stemmed from seeing my mother in dire financial circumstances as I grew up. It was at a particularly tough time financially

23 December 2010

The Importance Of A Strong Mindset

We are all familiar with age old sayings which are mentioned throughout the decades. One of these sayings revolves around the idea of thinking positively, or telling people that everything will be alright. We hear these things so often that we have a tendency to dismiss them as their frequent mention causes us to underestimate their importance. In reaching yell0brickrd and beyond however, I have been forced to remember just how important having a strong positive outlook is on achieving one’s dreams. This post is not so much about money, but about the characteristics that will be mandatory to get where we eventually want to be.

Whilst the knowledge of what to do is important, the strength of character and general positive outlook required is perhaps the most

17 December 2010

Metals and ISA's

A few blogs ago I mentioned that I will be splitting my savings between holding cash and using the remainder to park it in a place where the return is better. I was also troubled by the paltry interest rates that are being offered [money that is paid to you on top of your money as a reward for leaving it in a particular account]. My searches took me through the world of ISA's, which are a fundamental for any saver, and the world of metals.

Precious Metals

I have learnt about the opportunity to build a financial foundation with gold and especially silver, which

14 December 2010

Improving Your Credit Rating

The other day I was looking at all of my debts and pondering over the fact that I’m never accepted for credit at banks and for things that require loans and thought to myself 'My credit must be terrible!’ I decided to check it out and learn more about the whole thing. I stumbled across a website called 'www.moneysavingexpert.com' which provides information on different topics in the financial world and educated myself a little more.

There are three main agencies [UK]. Experian, Equifax and Call-credit. They take into consideration payment records on credit cards, loans, phones and other accounts which require a regular payment. Late payments on accounts are recorded and anything which remains unpaid for 3 months is then recorded as a default. They then utilise this information to provide a score which determines

10 December 2010

A Financial Plan For Security

So I’m now on the road and the first thing I have noticed is that nobody really gets wealthy from a job!

I’m baulking at the goal that I’ve set myself, with savings at £0.00 and no money coming in that lingers at all. My debts stare me in my face and plague my dreams, and while not a lot when compared with other people, it still provokes the letters to come through and means I can’t borrow money to do a thing due to a blown

7 December 2010

The Financial Journey

My name is Alex Young and I am 26 Years Old. I have plenty of optimism, plenty of drive and i’m eager to learn. I’m also FLAT broke!

I always wondered how financially successful individuals made it, exactly how they got there and wished the path could be documented so that others could follow, so I decided to do it myself, to go an adventure;

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