The American Dream is different for every person. In general it’s something similar to – Money, A Beautiful Home, and Perfect Relationships. Today, our topic is Money. We will discuss getting it, and what do with it in order to increase your savings and eventual wealth.

In order to increase your savings you must first have an income. My first suggestion is to do something you enjoy. And, at the very least, do what is legally expedient while seeking something you will enjoy.

Second, set aside at least 10 percent of what you earn and put it in a savings account; preferably one not connected by overdraft to your checking account. Banks push overdraft protection and this has its merits. However, the idea is to organize and keep track of your money so that each dollar-to-the-penny is accounted for. This way – You are your own overdraft protection.

Your 10 percent savings is key. No, it’s crucial. This is the money you will eventually use to invest and increase your wealth. Without this, you will most likely continue to survive pay check to pay check rather than live in the comfort of wealth as I believe we are all intended to do.

After you save 10 percent of your income, that leaves you 90 percent to live on, right? Not quite. Do you have any debt? If you live in America, and haven’t already developed the habit of savings and wealth building, you most likely do. So, your next step is to get rid of your unproductive debt by taking an addition 10 percent from your income for debt relief. This leaves you with 80 percent of your earned income. Now what?

Heard the expression, “Give and it shall be given unto you?” How about “Charity begins at Home.” They are the same. Our home is Earth and our family, other human beings. Therefore, we are responsible for one another just as the universe is responsible for securing us via Sun, Rain, Air, etc. This simply means that our existence is reciprocal and that what we give, we get back in one way or another. It’s really that simple.

So, from that 80 percent of your remaining income, if you want to increase your savings, and wealth – give 10 percent of your income to someone less fortunate than yourself (whether to an organized entity or someone you know or come across who could use the funds). How you do so is entirely up to you. Just try it. You will see. It’s an awesome principle that works 100 percent of the time.

Recapping – You’ve developed a consistent income; Paid yourself first with 10 percent for your savings account; Put aside and/or paid 10 percent toward your debt relief; and Given 10 percent to charity. Now you have 70 percent of your earnings for daily living expenses. This is more than possible to live on. Here are some tips to do so.

How To Live on 70 Percent of You Income…

These tips will get you off to a good start.

1. Take a real inventory of what you spend your money on. It will amaze you. Make a budget. If you find that you simply must have more income, intend it and get a better paying gig.

2. Eat at home – Cook

3. Make coffee at home (Carry your homemade coffee to work in your Starbucks container if it makes you feel better)

4. Entertain at home rather than splurge out each weekend.

5. Buy in bulk at places like Costco, Sam’s Club, Smart & Final, etc.

The process of increasing your savings account seems restricting at first. It is. Developing a new habit of finance is developing a new way of thinking about money and wealth. But remember, you are doing this to eventually amass wealth. Take the time, work the process and begin to change your financial status forever.

A family and a home of my own. These are the dreams of millions of little girls. The harsh reality of adulthood can push those dreams done. Many times it’s just because there seems no way. A mortgage calculator can crunch the numbers fast and show what it really takes to into a home. Savings, time and planning can make it happen.

A mortgage calculator is simple to use. You just fill in the right bits of information, and then ask it to calculate the end result. You already have the information, such as the selling price of that house you’ve fallen in love with, and the interest rates that a variety of mortgage lenders are offering. Then you input different variables into the mortgage calculator to see what kinds of payments you would need to come up with each month.

Use different mortgage calculators to find out whether a fixed rate, or adjustable rate mortgage would be better in your financial situation. Use a comparative mortgage calculator to see a clearer picture of what each would mean in the terms of real money each month. Perhaps you need steadier control over your expenditures now. A fixed rate mortgage would be best to start with the expectation of switching to an adjustable mortgage when your finances are more settled.

Take a look at the length of time you want to be paying your mortgage. Have the mortgage calculator give you the monthly payments for a variety of different options. It’s possible that a slight increase in monthly payment could substantially reduce the amount of time you’re paying for your home. This is as ideal use for a mortgage calculator as you consider options.

In conjunction with a mortgage calculator, use a home budget calculator to work out the kind of budget you realistically have to work with. Although it might seem that you can afford this home of your dreams, the reality might be very different. It sounds okay to think that you’ll go without a vacation this year. Or you could make gifts for Christmas and switch to cheaper brands of groceries in order to be able to live in this house.

But this isn’t just for one year; this is going to quite a long term commitment. You must seriously think about emergency situations. What would happen to your home if you suddenly became ill and couldn’t work, for example? Do the figures you’re using with the mortgage calculator allow for homeowner’s insurance? What about property taxes?

While you are using the home budget calculator, input a few figures that would be an rough estimate of monthly utilities for the new home. If it is substantially larger than the one you live in now, you might expect your monthly payments higher than your current ones. By using this total together with the mortgage calculator total, you can get a fairly accurate picture of what your monthly expenses would be on the new home – and whether or not you are able to afford it without putting it at risk if your finances suddenly decrease!