Yes, you read that right. It is not easy to get rich. It is even tougher to maintain being rich. Securing good yields out of your accumulated wealth requires financial planning, which this article is not about. The GettingYouRich.com team is much better equipped with the expertise to plan your finances, than me.

I have always been astonished with the stark gap between the rich and the poor in Mumbai, the city in which I reside. On one hand, there are industrialists and movie stars who make a couple of crores every month. On the other hand, there are people who struggle daily to make ends meet. In between is the middle class. 

If you too are on your way to financial independence like me, these are some really small things that you can do:

• Bargain Hunt: This is a very important skill which will help you save a lot of money. Whether you are buying vegetables, groceries, clothes, or stocks, you need to bargain hunt. Spend time searching the market place, find out who offers the lowest price without comprising on the quality greatly and you will end up saving quite a lot ( making a lot in case of stocks). 
• Save and Spend: Save some portion of your monthly salary always and then spend. This can be as low as 5% or as high as 50%. There is no magic figure since it all depends on your requirements. Whatever little, but save. And let compounding do the rest. 
• Pay bills at the last day: Pay all your bills not before their due date. Use the room given to you by the utilities for bill payment. But, please don’t extend beyond the due date, else you will have to only shell out some more. 
• Plan ahead: You are aware of a major expenditure that will occur in future. Plan ahead for the same and allocate a set budget. Once you have a fixed budget in mind, do not overshoot it; under-cut your expenses if need be. After all, if you have fixed a budget, there must be a reason for it. 
• Plan for the Unplanned: Keep aside some corpus for events that you cannot plan for. While you are saving every month, you could break-down your calculation of how much you should save as: % for pure savings + % for unplanned expenditure. Make sure that the money you save for unplanned expenditure is liquid i.e. available for withdrawal anytime.
• Making a huge investment? Be Well Researched: Buying a home is probably the biggest expenditure for any Indian family. Hence, you must be at least 10 times sure before plunging into it. Read news, blogs and forums for the property you have in mind. Do a primary check with brokers, existing residents or buyers, if possible. You do not want to be taking any chance since a huge portion of your hard earned money is involved.

These are the small things I practice to discipline myself with money. And after all, saving is a step to getting richer.

There is one last thing that I want to share. Working for yourself and creating an asset from scratch is the ultimate and also the most riskiest way to get rich. I left my very safe and secure job, 2 years back to give light to an idea that I had in mind. When you venture out on your own, you know the limit is endless. And so are the risks. By leaving your secure job, especially in such trying market times, without a clear plan in mind, , you are only taking a big risk. Plan, and be very sure of how you will achieve what you have planned. Keep in mind that it takes time to build a business. So be patient.

This is my journey to financial independence. I will love to hear from you on more experiences, tips, mistakes or anything that can make our journeys more rewarding!