You can and if you learn to effectively plan and manage your money, you will. The key to being rich is thinking rich.

DON'T SPEND MONEY YOU DON'T HAVE

One of the biggest differences between the rich and poor is that the rich are able to delay their gratification until they have the cash to afford what they aim to purchase. This may mean driving a junker car while putting thousands of dollars in the bank or investments. Some people might consider this foolish. Most would rather drive a nice car with all that money for a down payment. This is the folly of poverty, however.

MONEY HIDDEN UNDER A MATTRESS DEPREICIATES

Putting your money into a savings account is the equivalent of hiding it under a mattress. You will pay more money in banking fees than any bank will ever pay you in interest. If you want to keep pace with inflation, you'll need to invest in higher return venues.

MAKE A PLAN

A savings plan can start with less than you think. $50 a month can lead to a lot more if you are diligent about your savings. The key is to get used to setting some money aside every paycheck so that you stop missing the money and learn to live off of less. Then you can slowly increase that amount. The money that you save should be used for emergencies instead of a credit card, but when you get at least $1000 in savings, the rest should be carefully invested in stocks or mutual funds. Through compound interest and by gradually increasing the amount you are saving, you will soon have accumulated much more than you could have imagined.

You can be rich and it is easier than you think. See my article titled "Start on your first $1,000,000 with $200."

Learn more about this author, Brian Carsten.
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