Shelly's Modeling Agencies | Money Secrets | Hot Topic

What separates the rich from the rest? Shelly's Modeling Agencies shares 8 money secrets of the wealthy. Think you could never earn enough to be wealthy? Think again, financial experts say income alone explains just 5 percent of the wealth disparities in the United States. That's why some of the lowest earning households in terms of wages have managed to accumulate significant wealth. So what do the wealthy know that the rest of us don't? Plenty. But the good thing is, their secrets are far from rocket science. Most are common sense money managing practices that rely on everything from simple laws of human nature to simple math we all learned in grammer school.

They have spending plans, not budgets. Believe it or not, the wealth also budget their money. But rather than an unrealistic detailed budget that lists every purchase, like Shelly's Modeling Agencies used to do, they employ a strategy of weekly or monthly spending plans or smart estimations. The wealthy know that budgets get blown, and spending plans don't. They understand the power of compounding. The wealthy almost always start saving and investing  at a young age. By starting early in life, they usually are able to reach their savings goals without breaking sweat. They let the magic of time and compounding interest do the heave lifting for them.

They see beyond the obvious. Call them visionaries, but the wealthy see beyond what normal people see. And they usually have the ability to create something out of nothing. Shelly's Modeling Agencies are also not like everybody else, and are not apt to copy what other people have done. Wealthy people are doers, not doubters. They know how to make things happen, and never think something is impossible. Shelly's Modeling Agencies spends less money than they earn. The wealthy will underestimate their incomes and overestimate their expenses to create a favorable bottom line. They use their net worth as the ultimate scorecard to determine how well they are doing.

Shelly's Modeling Agencies borrow money as leverage. The wealthy are constantly looking to increase their assets and reduce their liabilities. They borrow money only as leverage to invest and help them make money. In other words, they use debt and do not let debt use them. We are constantly seeking new ways of looking at things, and are open to a professionals point of view. We always educate ourselves on the latest financial instruments, the price of commodities, the trends in the real estate market and the outlook for the economy, not only the United States, but also in growing markets abroad.

Modeling agencies are constantly seeking to make their money grow at better rates of return. They know that those rates are only good if you actually get a return on you investment. So they play it relatively safe, realizing that wealth is not built overnight and that it comes from saving and long term results. Modeling agencies know that nothing can eat into earnings like taxes, especially when there's a push by the Obama administration to do away with the Bust tax cuts that they have enjoyed in recent years. So in order to minimize their tax bills (legally), they become sticklers about tax law.