Most people think to become rich, you have to work very hard to earn more money and give your all to your work or business, and you will be successful and rich.
But, unfortunately that's not true. To be rich has to do more with being a disciple and focused with a long term plan for the money you earn and spend.
I repeat it is not about hardwork and earning more money. It is what you do with the money after you earn it that counts. If becoming rich was only through hardwork, then every street hawker around the world will be rich. Then the most hardworking people at your office or in your company would be the richest people. But it's not so.
However, there are a few life-changing lessons we all have to learn here. Here's how it works....
Rich people live in the world of abundance. And by abundance, I mean learning and understanding well the habit of savings and making wise, profitable investments that will reap multiple folds of more money for you at the end. However, poor people think there's not much much to do with money once you earn it or you are paid from your work. So to the poor person, they only option you have when you have money is to spend it. Let tomorrow worry about itself. Poor people live in a world of limitation. They cannot think beyond spend, spend and spend.
Poor people fear to take risks with money, rich people on the other hand are great risk takers with money.
Here are a few tips to help us all get really rich in 2020...
1. *Start taking responsibility for your own Money* .
Do not spend more than you earn. This statement might be very simple but it's very powerful and very helpful if we understand and practice it very well. Most women are addicted to shopping for example, once they get in the mall, then they feel everything on the shelf should go to their shopping cart.
As men we love taking beer and tequila shots with our boys every Friday night after work. All because it is the weekend. Have we for a second thought about the cost of all those many beer bottles we spend on every week? Or the countless number of shoes and bags we buy as ladies from the mall everytime we go shopping?? which we will never be able to wear all of them within a month, It will suprise all of us that our expenditure will be running into a million by the end of the year if we are to sit down and carefully calculate. To help us stop this and make more money this year, put a limit to how much you spend on these things. Cut cut and cut unnecessary spending habits. For instance, you can cut on your beer with the guys from say £200 to say £100 pounds for night. Or from £1,000 pounds of shopping to about £800. Make a list of everything and keep yourself under check to stay with the budget on the list.
2. *Saving & Investing*
Learning how to save money is the first principle anyone can use no matter who you are or how much you earn to become rich.
Depending on how much you earn from work every month, strictly decide to save the first 10% of your monthly salary as your savings.
Another 10% or 20% for household expenses and bills depending on your responsibilities at home and the size of your family. You can always increase the number as your expenditure gets bigger around the home. But mind you, you should never go beyond the number (%) you will give yourself. Self discipline is really important here. Also, another 10% for what I like to call "unforseen (unpredictable) circumstances. They are the things that we usually don't prepare for to happen to us in our lives but they happen to us anyway. For instance, your child suffering fever attacks in the middle of the night and you need to take him or her to the hospital for treatment. You never planned for this to happen. But now here you are as parents getting ready to spend on huge hospital bills you never planned to spend for in the first place. And I don't think your child planned to get sick either. It just happened.
Unforseen circumstance expenditures can be car accidents and so on. Please do not take this for granted. It's extremely important to stick like crazy to saving for them.
Investing is simply making your money or saved money work for you while you sleep. Your money here is working for you while you sleep because you have invested it into something that also keeps making more money for you. Good investing if done properly and wisely, will help you get rich quicker and easier than you expect. The common and safest way for most people to invest their money or savings is these days is to put in a bank as a fixed deposit and hope to earn some good rates on them or buy government treasury bills and earn more on it or decide to invest in a small business or business opportunity that has a lot of long term potential to make you more money from its profits. Anyway you want to invest, the decision is yours. Just make sure you get as you can much information from an expert investor or information from a reputable investment company before you finally decide to invest.
3. *The perfect use of your wisdom and your knowledge*
Finally, to be rich this 2020, you have to be smart, wise and knowledgeable. All put together use common sense.
You can never be rich by working your whole life away for somebody's business or company. No matter how big or small your salary is at the end of the month, the owner of the business or company grows richer and richer than you because he has your time, knowledge and experience with him to keep growing up and up. Thanks to your help. Work on project or start a business on your own. Do things on your own terms. It is very hard and extremely difficult at the beginning, but if you have good business idea, you will definitely make it.
If you can't be an entrepreneur with your own business, start a part time job or freelance job on the side of your regular job. You can write, teach, sing, or be a consultant and share your professional knowledge with people for money. The most important thing here is to do whatever you love while still making good money from it.
Being poor has never been because we don't have money. But because we don't have ideas to wisely handle the money we earn and the opportunity to help us continue to earn more. If you still wish to say poor after all this information, just remember what the word poor means. Poor means Passing Over Opportunities Repeatedly.
A word to the wise.
Kwame Sarpong | Freelance Writer:
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