How to change the way you approach life to increase your wealth

in #wealth2 months ago

Change the way you approach life to increase your income. As long as you just dream of getting rich, there is practically no chance of this. But as soon as you make a dream a goal and start doing something to achieve it, it will take on real shape.

Of course, this will require setting specific tasks, deadlines for their implementation, roll up our sleeves and work.
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Interim goals can be made small and achievable, but in a global sense, you should strive for more than you can imagine. This will force you to look for means of achievement that would simply not have occurred to you otherwise.

For example, you want to be a millionaire. If the goal is to define one million, a miracle will not happen: it can be earned, saved up, inherited. But the task of making a capital of several million will make you think how to invest wisely , how to develop professionally, so that in a few years you will think in other financial categories.

Artificial constraints keep you from growing. Often you yourself set the bar down. For example, when you refuse to participate in a project where you will have to perform unusual duties, although you will not have a second chance to get such experience.

Everything new is a step by means of which you can rise higher.

Rest assured, a wealthy person does not spend all his income and will not give up the last to buy, for example, an expensive car. This is the prerogative of the poor people. And the point is not at all in the amount of earnings, but in relation to money.

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Spending must be reasonable, and you must determine the upper spending bar for each item. For example, spend no more than 30% of your earnings on housing, even if you rent an apartment. If the amount exceeds a third of the salary, it is worth looking for housing cheaper.

Calculating and saving is not a fun process. It's boring enough, especially when compared to the once-in-a-lifetime chic. But you can live once in much better financial conditions.

Treat finance like a business. The company is unlikely to be able to become profitable if it stops reducing debit and credit, looking for more lucrative contracts and reducing off-target expenses. This also works for your personal funds : if you are not aware of the movement of money, you should not count on profit.

Saving will not make you a millionaire, but it will help you avoid bankruptcy. Lack of elementary savings in case of force majeure will lead to the fact that in the event of an emergency, such as illness or dismissal, you will be forced to go into debt in order to pay at least for food.

People love folk wisdom, but the phrase "came easily, easily left" is used for some reason more often than "a penny saves a ruble." Nevertheless, the advice to save money that came to you unexpectedly really makes you richer.

An unexpected bonus, royalty, gift, or other source of funds is easy to set aside without prejudice, because you didn't budget for it. This will increase your savings, and you will be one step closer to wealth.

As long as you simply store the savings, they decrease, as their real purchasing power decreases due to inflation. To prevent this from happening, the money must at least be transferred to a savings account, the interest on which is ahead of inflation. But this is not at all a tool for making money.

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To receive income, money must be invested. True, for this you will have to consider various options for investing and figure out how not to lose your savings.

One source of income is unreliable; for a confident increase in capital, there must be at least three of them.

In this case, we are not talking about the search for the second and third jobs. You can invest in stocks, rent out real estate or become a partner in a third party company.


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