Money and growing wealth in simple terms

in Project HOPE3 months ago

Increasing wealth is about increasing money and increasing money is about seeing money differently and understanding that money is a tool for commodity and it is needed for a good life. Growing wealth is a gradual process that requires understanding the value of money and how to grow money perfectly. In growing wealth, a lot of people believe that saving is needed but the truth is, savings is not what is required to grow wealth. Savings is required to meet target not grow wealth.


People can save up to start a business, you can save up for your retirement but you can’t save up to attain riches. I am not saying it is impossible to be a billionaire with savings, but in order to be a billionaire by saving, then you will have to be saving in millions daily, or monthly. Saving is for easy access to cash in case of business opportunities or in cases of being cashless or broke.

Wealth is not only based on liquid money, and any property that depreciates in value the longer it exist as well as anything that is isn’t giving you value is not to be regarded as part of a person’s wealth. Wealth is a combination of assets minus liability. Never be scared of getting into loans and using other people’s money, provided you are using it to make more money and it is not the profit isn’t lower than the interest to be made. Never get into debt that have high interest, it is good to get into debt for businesses and investment purposes if the inflation isn’t uncontrollable.

The goal of being wealthy is not to spend less, although money management is important but the goal is to earn more. To keep earning even when your expenses remain the same. If you are reducing expenses without earning more, then you are just going to remain the same. When it comes to expenses, never spend beyond your income and be sure to know what and where you need your money.


Hi @ajewa
An excellent reflection of life, the strategies are the basis of the triumph definitely.

Hello @ajewa
I think it all boils down to "it's not about saving or spending less, yes, or making more money". This is the main thing to be able to achieve this goal.

keeping your money with the banks is just one of the ways of remaining average. investments are smart but that's when you get smart about investing too

Good article, I think people are looking to be free financially and not accumulate millions as in the industrial era.

Hello friend, certainly people think that saving solves the problem, and I think the word is investment, investing in something that doubles or triples our investment, that's the goal, saving will only keep us in the same place, but a good investment can get us there much faster!

Hello dear friend, these are very wise words, without a doubt saving is a way to be able to counteract some difficult situations, but sometimes we find it difficult to invest to generate some profit, your advice was of great encouragement to me.

See you later, have a great weekend.

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