Can money success be taught? Yes, it can be taught or preached, it depends on the people being taught. If people can challenge success (money) preaching then it will work for them, otherwise they will live below the poverty line. As I always say, the way to become rich and wealthy is simple but complex to execute. Nevertheless, I strongly believe that these rules below can work for you and make you success (fortune) in the years to come.
RULE ONE: CREATE A STAKE
Try to find yourself a job, you can get a job at different type of success…you can farm, you can provide services to others, you can manufacture/ produce something. No matter the amount you earn, just have a stable income. Then let a part of all you earned be yours to keep. You have to first put off a few optional purchases like, the latest clothing or eating out, but you won’t miss the money after the habit is established.
Remember that, every penny you spend today could worth 100 dollar in the next few months, if you invest it either in your business or others people business. Lastly, open a separate bank account for savings of 10% of money you earned monthly and keep it there for six to twelve months depends on the amount.
RULE TWO: MAKE A BUDGET
Control your expenses with a budget. For the remaining 90% of your monthly income make budget for it. Remember Parkinson’s Law which states that work expands to fill the available time. Well, spending also expands to fill/ use the available money. Desires are infinite. Human wants are unlimited. Create budget for what you really have to spend every month. You don’t have to eat out always. You don’t have to buy new cloth
every month. Cut your needs according to the money left. Unplanned spending got you to where you are today. You must decide which life you want to live, if you want to spend every dollar pursuing short-term pleasure or save money for long-term financial freedom.
Think about this: “I am indeed rich since my income is superior to my expenses, and my expense is equal to my wishes” -----Edward Gibbon. It is a simple mathematics that works, try it.
RULE THREE: PUT YOUR MONEY TO WORK
This simply means invest your money. If your money sits in a bank, it can’t pay you as you will only get from 1 to 10% interest per annum. Instead, make your money work for you, either in a short-term investment or long-term investment.
In this case, the money that you save for stake for some period is the one that you are going to use for investment. Don’t borrow; instead pay off your debt before you start investing. Let me give you a clue to some kind of investment that really worth it: rental properties, it is also possible to own and lease many types of equipment for farms, construction and business purposes. Start your own part time business. You can buy and sell items on eBay. You can buy used cars,
fixed them up and resold them for profit. Investing money in a college account may save you from future price increases. Remember, your true wealth is not in the money you earn, it is in making your money work for you...
Culled from THE WEALTH BIBLE. FOR COMPLETE DOWNLOAD OF WEALTH BIBLE CLICK HERE
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