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Know How You Spend And Stick To A Budget:
I think this sounds simple and it will be a good foundation for being wealthy. The money that are coming in and out for you have to be master so as to increase your net worth. Don’t spend more than you make because this will not allow you to have cash available to save and to invest.
A budget makes makes you spend your money in a meaningful way, it will make you spend your money on stuff that matters and skip those that are of no value as much as you think.
Saving And Investing A Large Percentage Of Your Income:
In most cases saving and investment is the secret to others people wealth. When your goals looks this way, saving and investing of 20 percent or 30 percent of your income won’t be a problem for you, and this will be a target to hit those major wealth-building goals.
Making More Money:
Saving and investing only happens when you have your money to begin with. The way of getting money looks different for everyone in so many ways, which depends on everyone’s goals. There are many challenges and opportunity which can lead to money making in life.
* Changing of jobs when you feel like making more money
* Seeking for higher position at your working place which will lead to higher payment of salary
* Hustle for yourself aside from your day job
Investment is also a way of making more money.
Hold Wealth In Asset-Not In Stuff:
Most people in life drive a flashy car and own big houses but they’re not actually wealthy. Most of them have higher income but all those money get spend instead of saving and investing, imagine if the money just drive up, they won’t have nothing to fall back on, no we’re to run to, no savings no investment.
If you want to be wealthy or g more in your wealth, put your focus on growing your wealth and not spending and spending on stuff that doesn’t matte. And not to show how much money you have in your bank account or money coming in each month.
Accept risk, work with people who take risks with their money, invest in market, never think of losing a single Naira will be too much. And put in mind that every investment comes with degrees of risk, there’s a relationship between risk and return.
You have to accept some risk if you want to earn a return on your money.
Paying Attention To The Little Thing
Honestly ,most people that make it in life do not make it through lottery or got lucky with one big investment.
They succeed because they stick to those little opportunity and care about making little things right at the right time, over and over again.
Those little things include
* No matter what circumstances save and invest with the little you’ve got
* Finding answer to your problems
* Ask for help and support
* Try to avoid temptations on spending on things that don’t matter