Wealth for One Dollar? It's a Gamble - Top Six Gambling Myths

The recent Mega Million winners earlier this year epitomize the American dream -- wealth microwave style. Tonya and Robert Harris were the winners of $270 million from the mega million jackpot.

The question is will this windfall be a blessing or a curse? I believe it depends on whether or not the Harris's' learn the definition of wealth. ...

7 Ways To Save On Gas

Find Cheap Gas

Comparison shop. Be a proactive consumer. Don't just pay the high prices at the closest station. Shop around to find the most competitive price in town. For a little help, visit http://gasprices.mapquest.com to compare prices in your area. You can find the best deal by zip code and street name, as well as check out prices by grade of gasoline.

Buy a Fuel-Efficient Vehicle

Consider buying a fuel-efficient vehicle, a hybrid vehicle, or an alternative-fuel vehicle. It could save you a lot at the gas pump and not to mention help the environment. FuelEconomy.gov offers tips on buying a new fuel-efficient car or truck.

Slow It Down

Gas mileage decreases rapidly at speeds above 60 mph, costing an additional 10 cents per gallon. Aggressive driving can lower gas mileage by as much as 33 on the highway and 5 on city streets, resulting in 7 cents to 49 cents per gallon. Don't get too emotional driving, its supposed to be a time to relax and reflect. Next time you get in your car stay calm, cool, and collected put your car on cruise control.

Stop Idling

Idling gets you zero miles per gallon. The best way to warm up a vehicle is to drive it. No more than 30 seconds of idling on winter days is needed. Anything more simply wastes fuel and increases emissions. Be conscious of your environment and your pocket.

Tune Ups

Most motorists don't realize it's the little things that can make a difference. Fixing a serious maintenance problem, such as a faulty oxygen sensor, can improve your mileage by as much as 40. Dirty spark plugs can cause misfiring which can waste fuel. Replacing a clogged air filter can save gas mileage by as much as 10, saving you 15 cents per gallon. Tune your engine; it'll increase gas mileage by 4. Also, damaged, loose, or missing gas caps, under-inflated tires, poor wheel alignment, and worn spark plugs all contribute to poor fuel economy.

Combine Errands

Instead of making several trips to the cleaners, grocers, post office and the bank, do all of your errands at one time. Before you hop into you car, plan ahead. Keep a checklist if necessary. This will save you time and money.

Park Your Car

Take public transportation. Walk it'll save you money and help you shed a few undesirable pounds. Carpool. You and some of your colleagues can take turns driving each other to work. Talk to your supervisor about telecommuting one day a week.

Here's what I mean, on my radio show Real Money I decided to have an open discussion with my audience on the topic of wealth. My first caller said, "Ms. Owens we don't have to talk about making millions I just want to know how to start investing?" I rolled my eyes and thought to myself why do people feel uncomfortable talking about and using the word "wealth."

In its' most basic form wealth is simply a function of adding to what you already have---at whatever level. Think about this for just a minute. Wealth is not some abstract unattainable result nor is it a word that is limited to lotto winners or millionaires. My response to the caller was that by virtue of the fact he was interested in adding more to what he had accumulated he epitomized a wealthy person. His silence let me know I couldn't possibly be talking about him.

In the context of business, wealth can be defined as producing a product or service and selling it at a greater value than what it cost to produce. Creating wealth or adding value to customers translates into profits for organizations.

On a personal or individual level wealth means to accumulate money and possessions that have value. However, sustainable wealth creation requires that businesses and individuals consume less than the profit or income that they generate and then invest and earn a return on the excess. The point is that I believe it's time ordinary folks come to understand that "wealth" is not taboo or unattainable. Anyone and everyone can build wealth. This is what I know to be true.

The sad fact is that very few lottery winners are able to manage a big windfall. According to financial experts 1/3 of lottery winners end up bankrupt within five years of cashing in their lottery tickets. Here's what I know to be true---we don't value what we don't earn.

For more wealthy moves visit www.deborahowens.com and read an excerpt of Nickel and Dime Your Way to Wealth.

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