The type of leverage you can develop is money. Money is powerful source of leverage and usually follows the development of knowledge and skill in your field. You have heard it said that, —It takes money to make money.“ The main reason that it takes money to make money is that your ability to save and accumulate funds is an essential step in the development of the personal qualities and character that you must develop if you sincerely want to achieve financial independence. In other words, you become a person capable of becoming wealthy by disciplining yourself to save the money that is necessary for you to achieve it. As W. Clement Stone wrote, —If you cannot save money, then the seeds of greatness are not in you.“

Here are three things you can do to develop the leverage of money. First, begin a systematic savings plan, putting away at least ten percent of your gross income every month. Second, pay off your debts, starting with the highest interest debts such as credit cards and finance companies. Aim to live largely debt free aside from your home mortgage. And third, proceed to build up a cash reserve so that you are ready when the opportunity arises. Most people stay broke all their lives because even if a wonderful money making idea comes their way, they have no funds to invest.