Easy Strategies and Tips for Wealth Building
Wealth doesn’t have to be an endless struggle. Here are 6 easy strategies and tips that are so simple; most people tend to overlook them:
1- Decide:
If you ask any millionaire who wasn’t born this way how he got his first million, he’ll tell you he decided to do it first. You must decide right now that you will do everything you can to get rich. Focus on one outcome: getting rich no matter what you have to do (as long as it doesn’t hurt anyone) and no matter how long it takes. just be good now that many others have done this before and you will too.
2- Budget:
Operate on a tight budget. Eliminate all the things in your life that are not necessary. We spend or waste money on so many things that end up cluttering our homes and lives. You won’t be able to prosper if you don’t make the most of what you already have.
3- Debt elimination:
Reduce or eliminate all debts. If you’re living in an overpriced home that’s giving you a hard time, put it up for sale and buy something more affordable. If you have an overpriced sports car or SUV and it’s making you feel financially strapped, sell it and get something cheaper.
4- Goods:
Acquire assets. Assets are things you can buy that will actually give you money instead of taking money. If you have more assets than expenses, you will become rich. Some examples of assets are: rental properties (real estate), stocks, bonds, active vending machines, laundromats, antiques, valued paintings, and precious metals.
5-Give:
Rich people are givers. They give from the heart and love the act. One of the laws of the universe is to give what you want and you will have it. If you’re short on money right now, that’s fine. You can still give in other ways; Offer your time or help. Give without expecting anything in return and don’t brag about it either. Anything you do sincerely will be returned to you 10 times from the least likely places.
6- Simplicity:
Getting rich doesn’t have to be fancy or complicated. The simpler a system is, the easier and faster it is to get results. The more complicated things have to be, the longer things take, and the greater your chances of quitting.
The average millionaire today lives below his means; they live in modest homes, drive cheap cars, and are even regulars at the local dollar store. Their businesses are quite monotonous and uncomplicated. These people can live extravagantly, but most choose to keep a low profile. However, said and done, they are masters of self-discipline and make a habit of investing at least 20 percent of their income annually.