5) Review – You should have a financial plan in place with short-term and long-term financial goals. You should track your investments and review it regularly and tweak it as per changing market conditions and personal life.
6) Love what you do – It is better to do something that you love to earn a living. If you like what you are doing, you will be more happy and will be willing to put in more hours of effort and hard work. You will be keen to learn and update yourself regarding your job. You will become better at your profession and ultimately earn more. This will lead to adding to one’s wealth. more money. All of us cannot make a living out of singing or playing cricket how much ever we like it. But we can always choose our second or third favourite thing to earn a living.
It is not always easy, smart or safe to get rich using shortcuts. The steps mentioned above will set you on the path to getting rich slowly but steadily. Do you consider yourself rich? We would love to know what did you do to become rich.
6) Love what you do – It is better to do something that you love to earn a living. If you like what you are doing, you will be more happy and will be willing to put in more hours of effort and hard work. You will be keen to learn and update yourself regarding your job. You will become better at your profession and ultimately earn more. This will lead to adding to one’s wealth. more money. All of us cannot make a living out of singing or playing cricket how much ever we like it. But we can always choose our second or third favourite thing to earn a living.
It is not always easy, smart or safe to get rich using shortcuts. The steps mentioned above will set you on the path to getting rich slowly but steadily. Do you consider yourself rich? We would love to know what did you do to become rich.
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Executive Summary – Let us face it. Most of us want to have the lifestyle of the rich. We are constantly looking for ways to increase our income and wealth. Some ways to get rich are to have a steady source of income, spend less, save more, invest, make the best use of opportunities, review your money situation and earn your livelihood doing something you enjoy.
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There are quotes like, ‘Money isn’t everything’ and ‘Money can’t buy happiness’. But at the same time, people want shiny cars, big houses, best education for their children etc. All these things cost money. Everyone wants to have a good life and money surely helps in achieving that. The difference is that you should aim to build wealth rather than earn money via some quick get rich schemes and spending it all. Let us look at some ways to set you on the path of riches –
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3) Invest Invest and Reinvest – Money is of no use if it is sitting idle. It even gets devalued if it is lying in your locker or account. You should invest money in various investment avenues so that your money can grow and make you rich. There are many investment avenues such as mutual funds, real estate, commodities, stocks. You should decide the asset allocation optimum for you and invest keeping your income, risk capacity and risk tolerance levels in mind.
4) Keep looking for opportunities – There are many opportunities around us to make money. You should be aware of what is happening around you and be ready to take action. For example, everyone wants to get fit and healthy and this has resulted in various types of fitness trainers and classes entering this industry to make money. People want to try out different fitness regimes such as Yoga, Zumba, cycling etc. and there are many people who have trained themselves as instructors and organizers of such offerings and have made money out of it. It is a good time to start the venture that you have dreamed about. People are open to ideas, willing to try out things and investors are willing to place a bet on potentially good business ideas. If you have a business idea, you should get it rolling. You can enter into network marketing or teach something in your spare time to increase your income. If you are good, you will earn a lot of money in these ventures.
4) Keep looking for opportunities – There are many opportunities around us to make money. You should be aware of what is happening around you and be ready to take action. For example, everyone wants to get fit and healthy and this has resulted in various types of fitness trainers and classes entering this industry to make money. People want to try out different fitness regimes such as Yoga, Zumba, cycling etc. and there are many people who have trained themselves as instructors and organizers of such offerings and have made money out of it. It is a good time to start the venture that you have dreamed about. People are open to ideas, willing to try out things and investors are willing to place a bet on potentially good business ideas. If you have a business idea, you should get it rolling. You can enter into network marketing or teach something in your spare time to increase your income. If you are good, you will earn a lot of money in these ventures.
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1) Have a Steady Source of Income – You should of course start earning money to get rich. You should have a regular income stream that can be used to make you rich. It means you have a job or run a business that allows you to deposit cash in your savings bank account on a regular basis. This will ensure that your money kitty grows over a period of time.
2) Spend less and Save more – Money can buy a lot of things but the best way to get rich is to keep the money with you or use it for investing to earn more money and build wealth. This means spending smartly and leading a frugal life. You need not deprieve yourself of comfort or be a miser but it is important to keep a track of your expenses. Make sure you are following your budget. It is important to keep your debts in check as if they spiral out of control you will have a tough time repaying the amount along with interest. This will ensure that the money is with you to take action on it to become rich as you need money to make more money. |
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“It is not always easy, smart or safe to get rich using shortcuts. The steps mentioned above will set you on the path to getting rich slowly but steadily. Do you consider yourself rich? We would love to know what did you do to become rich. “
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