Wealth is not measured by the number of gadgets you have but the number of assets you control. Always remember it’s now how much you have in your wallet, it’s more than that.
Here are the 7 golden money tips to increase your wealth:
Wealth is simply the number of days you can survive without having to work physically and still maintaining a good standard of living.
1Start by fattening your wallet
If you truly want to build fortune, start by utilizing your source of income that you’ve already established. Put in than you take out.
For every 10 coins that you make, spend only 9 which gives you food, belongings etc. The 1 coin left as you save regularly allows you to create income bringing investments.
2Control your expenditures
As we grow, our expenses climb. What you call your necessary expenses will always grow to your income unless you protest to your expenses. Select essential desires: human wants are unlimited so you need to budget necessary expenses.
Never touch your 1 coin regular savings. Work with the budget you’ve set and you’ll find your savings growing. Do not forget; budget controls expenditure.
3Make your savings work for you
If you’ll create wealth, all that you save must earn. Let your savings earn more and its earnings earn as well. Multiply your savings by putting it to work and the earnings it will make builds fortune. Small amounts made with regularity produces profitable results.
4Guard your savings from loss
Every coin you save must be guarded strictly, after all its your sweat. You could be tempted by opportunities that seem to be so promising with higher earnings,
The first law of investment is investigation and the first principle is security of capital. Never be intrigued by larger earnings when security of your initial capital is not certain. The penalty of risk is probable loss.
5Own a house
Land is a great asset. Invest in building your own house. It is a profitable investment because it will surely reduce your cost of living.
6Increase you earning ability
Before accomplishments, there’s a desire. So, desire to earn more. Wealth is accumulated in two processes; first in small sums and then in larger ones. Pay debts with promptness
Also read: How to make money online
7Cultivate your own power to study, become more skilled and money wise
Be ready at all times to be on the front rank of progress and not to stand still. Always be on the learning curve and invest in becoming better every day.
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