Finance: Do You Want to Be Rich? Follow These Timeless Principles of Wealth Creation

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man-holding-money

Being rich sometimes seems like an uphill task but it doesn’t have to be that way. Here are some very simple, tested and trusted principles to end your financial struggles:

  1. Spend Less Than You Earn: The importance of saving in growing a fortune can never be over-emphasized. As billionaire Warren Buffett, said, don’t save what’s left after spending, spend what’s left after saving. Always put aside a percentage of your income for the future.
  2. Control Your Expenditure: Buy only the things that are absolutely necessary and track your spending. This will help you account for what takes the most of your money and keep you from wasting money.
  3. Make Your Money Multiply: Find worthy investments to put your money in. This will help multiply your resources. Don’t invest blindly. Ask around for expert advice from people who have succeeded financially.
  4. Own Your Own Home: Having your own home should be a priority. Don’t waste money on unnecessary frivolities.  Save up whatever you can to provide your family with guaranteed shelter.
  5. Increase Your Capacity To Earn: Create multiple streams of income. Learn more skills. Gain more knowledge and experience of more fields. Be good at what you do and strive to do better. Work well done does good to the man who does it .
  6. Be Diligent: Whatever you’re doing now, do it well. He who can be trusted with little will definitely be trusted with more. Whatever is worth doing at all is worth doing well

 

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2 COMMENTS

  1. Invest into a feasiable business, and try to invest on long-term project that you will be earning its income for about 2-5years. This will buttress your earning for life.

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