Tweet

What I Learned from David Bach the Automatic Millionaire

Guest post by: Isabella Fiorentino

Article Overview: The first thing I learned when I read the Automatic Millionaire by David Bach was that when you make money whether by a job, online business or a hobby; you must keep some of it to be wealthy. How are you ever going to be financially free if you spend it all on bills and blow it?

What I Learned from David Bach the Automatic Millionaire

The first thing I learned when I read the Automatic Millionaire by David Bach was that when you make money whether by a job, online business or a hobby; you must keep some of it to be wealthy. How are you ever going to be financially free if you spend it all on bills and blow it?

I learned that every credit card company has what you call a hardship program. You can call them up and request to apply for it. But make sure they don’t report to the credit bureau, which would lower your credit score.

If you read further in Automatic Millionaire, David Bach goes on to explain about paying your mortgage biweekly. This will save you interest payments on a 30yr loan by about 7 years, thus only paying 23 years instead of the full 30. David also explains how you can pay yourself first automatically so you wont have to think about it. When you do this, you build your wealth even quicker. David Bach shows why real estate is the best investment too. In real estate, you can use the 1031 exchange where you can roll your profits into another property.

There are alot of benefits to owning a home and here are six of them: forced savings, leverage, other peoples money, pride of ownership, tax breaks, and real estate proves to be a great investment. These are only a few of the things I learned from reading Automatic Millionaire by David Bach. Just wanted to share. God Bless.

Related Articles
  Article #33 Worried About Having Enough Money To Pay The Rent This Month?
  How to Make Wealth In Today’s Economy
  Article #45 Master The Wealth Hidden In Your Salary
  Master Wealth in Todays Economy
  Financial Freedom Can Be Yours To Claim
  Pay Yourself First
  Direct Selling: A Growing Trend
  Article #25 Want To Build A Secure Lifestyle And Legacy For You And Your Family?
  More Order in Your $ House
  Do I Need to Have a Millionaire Mindset to Be Successful? Secret Revealed
  Many Millionaires Have Been Created During Recessions-Do You Have What It Takes To Join This Group of Millionaires
  The Millionaire Mindset Part 2 of 4
  Picture Becoming A Millionaire! Now Discover The Way To Becoming A Millionaire
  The Millionaire Mindset Part 1 of 4
  Affirmations That Work
  Article # 32 Sick And Tired Of Being Sick And Tired And Broke?
  Creating Success
  The Millionaire Mindset Part 3 of 4
  Five Reasons Why You Should Become A Millionaire And How To Get There
  How Top MLM Leaders explode their business

Article Tags: david bach the automatic millionaire book and what i learned



Related Forum Posts
Re: Automatic Millionaire by David Bach - Thanks for all the response. I also find it very informative and inspiring. The Automatic Millionaire is based on sound financial concepts. David Bach persuades readers to eradicate debt, to live economically, and to pay themselves first. However the core of his book is unique: rather than develop determination and self-discipline, Bach says, why not bypass the human element altogether? Why not make your path to wealth automatic? You’ve all heard that you’re supposed to “pay yourself first” but what does this really mean? This idea simply suggests that before you pay your bills, before you pay your taxes, before you pay anything else, you need to set money aside for yourself. This isn’t money to spend, but money to save for the future.
Re: Email Marketing Benefits - Email marketing is a kind of direct marketing used by marketers to communicate with potential or existing customers directly by means of email. In email marketing, sales letters are never sent in an unsolicited way, and every person on an email marketing list, gives permission and agrees to receive email messages from time to time. Here is what you should expect from email marketing service: - Automatic subscribe and unsubscribe. - Automatic removal of bad email addresses. - Automatic message delivery. - Message sending speed and flow control. - Message personalization. With such an email marketing software, you will get a great enhancement in business or e-commerce.
Re: Dropped Out Of School To Startup! - Micheal Dell also dropped out of university. I have ordered for a book titled Millionaire Dropouts by Woodward. Read the Synopsis Millionaire Dropouts started as a list who's who of dropouts. Over the years and seven books later it as developed into an extensive list of great men and women who have overcame their obstacles and beat the odds of success. Some of the greatest companies and most profound inventions were founded and invented by people with very little education. How can someone without a degree and sometimes with very little money go onto build empires? It is the age old question, what drives one person to success while another stops at failure? This book list bullet bios of some of the greatest dropouts in history. Millionaire Dropouts will inspire and entertain. Not only are there over 50 biographies there is a master list of over 900 people who have dropped out and gone on to great success. Enjoy this inspiring work and share it with others.
Re: Twitter Members, Post Your Twitter ID Here - opps there is that follower limit again, but thanks for the ad(s). Learned something about multiple accounts and tweets
Re: Advice needed to earn money online!!!! - [quote="OmnivoreInk":153e5f59]This paragraph should be put into an Automatic Welcoming Message for everyone who signs on to EvanCarmichael.com forums! Too many times newbies post here asking for advice, but don't give enough information in their initial post for us to help them![/quote:153e5f59] Hi Barbara, But sometimes people just want a quick and effective way to earn a living, regardless if it taps into their interests or not. For instance, I know many friends who work 9-5 to simply support their lifestyle. These friends have made it known to me that they could care less if their job is boring because they see work as only a means to live.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

10 Steps to Excelling at Franchise Sales

3 Competencies of Leadership

Ten Reasons to take Notes during Sales Meetings

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.