For a long time I have been thinking to my self, how can I build my wealth?
In this article I will present my answer to this question. If you have a steady job (maybe even two), with long working hours each week, this article is for you. You will learn the steps you need to take in order to build your income and control your financial world.
It had all begun, when I realized that I should do something more, to generate extra income, but what? I also realized, that there aren't enough hours in the day to take up extra work in another job and even then, how much more can I earn? Out of multiple jobs or from working over time, I will not triple my income or make enough money to start building my wealth.
So what should you do? How do you actually become rich? Does it happen only by getting an inheritance, or by passive income generating from many assets? All these are great, but I don't have them – yet.
Then, I discovered that I should start thinking differently and start doing things in a different way than the way I did things until now.
The answer to "how to become rich" begins with this basic equation – the total of all earnings should be grater then the total of all expenses (you must know that equation). Although it is a simple one, the human nature does not enable its existence in a proper way. If it is on account of habitual expanses or the aspiration to modernize the living standard and its quality, if for ourselves or in order to provide the competitive-social urge.
In order to become rich, a number of conditions should be met:
1. You need to start thinking like a rich man, ie to know at any given moment how much money do you have and how these funds are distributed – Is it allotted to luxury, to expenses of sustenance, or on investments, etc.? (you can do it by reading Kiyosaki's book "Rich Dad, Poor Dad")
2. It is up to you, to acquire a suitable education in the field of money management in the most basic level, such as, How to leverage your extra money (there is always extra, "luxury" money, it all comes down to the question of preferences)? You need to learn how to manage risks in online and offline investments, the stock exchange or even at your own bank.
Then, with that "luxury" money and with the proper leveraging, you will be able to invest in opportunities that will yield a passive income on a monthly basis for a meaningful yearly extra income.
3. Last but certainly not least, you must take the first step ahead and decide to implement sections 1 and 2. You must understand, those two simple (but hard to do) sections, are the only thing that separates you from having financial freedom .
No, it is not easy and also requires great courage, therefore, 95% of the population remains only with the desire to be rich. If you didn't inherit large amounts of money or assets, you need to know that to become rich or a millionaire, does not happen over night. This is a process you should endeavor for and build gradually by thinking and planning for the long run in order to succeed; But it is definitely possible.
If you will not make any changes in your present carrying on, in another five or ten years from now, there will be no drastic change in your financial status. The good news is, that you can implement the steps described above, change your expanse habits and your financial decisions and make the dream to become rich come true.
Who are those rich, millionaire people? They are people like you that have the courage to think and do things differently, they don't necessarily have high education or have received a big inheritance. They simply dared to think on a major scale and took the risk, which lies within the change itself. I have realized that not everyone wants to be rich and not everyone should be rich, but if you imagine yourself with financial freedom and dare to dream, you should know, it is within your possibility to arrive there.