How to become rich in seven steps; If you are wondering how to become wealthy, you are not alone, since the dream of wealth has exhausted most people since time immemorial. How to become rich is an issue that is certainly not easy and requires a lot of effort and perseverance. Before we go deeper into answering our question, you do not expect us to offer you a quick, deceptive solution such as profit advertising, Brazilian Shopping Center companies or even lottery ads. It will not be that simple, and if you think that such a path may get you rich, unfortunately let us tell you that you will only reach the dark circles of vigilance and anxiety.
The fact is that. To be rich, except to inherit a fortune or marry a luxurious family, the only answer is to make your own way of getting rich, bearing in mind that the more you start with greater vigor and at a younger age, the better and faster the results.
The golden rule of how to become wealthy is “either to have money, or to own it, but money and property rarely meet!” Saving is very necessary as a first step. Although we as a society work on the rule: “Fake it until you make it”, that is, as we say in Arabic, “Pretend to become apparent.” Here we mean borrowing. Many of us are burdened with loans that drain most of their income for many years, while the right option is to live a modest life with savings throughout these years. Make your rule in dealing with money is to spend less than you earn.
How to become rich
Make yourself a written financial plan:
Asking yourself how to become wealthy and even alone is not enough, you need a written practical plan that states that. As human development experts always say: If you do not have a “written” plan for 5 or 10 years from now, you do not think you’re ever planning. The written plan compels you to commit far more than those in your mind; they can be adjusted according to the circumstances and at every moment, which is worthless. Calculate what you protest to earn money, and how you will earn it.
Remember that writing a plan does not just mean writing the goal, it is the dream, the goals, the alternative options as well, all the possible scenarios for all the expected and unexpected circumstances, and how to interact with any of them to achieve your dream of wealth.
Saving and then saving and saving:
Saving first and foremost is the answer to your question of how to become rich. After writing your financial plan, you will start to invest to make money. Whatever the type of investment, make yourself strict rules on saving. For example, from each cash payment you receive, deduct 25% as savings on a bank account for your savings only. Do not underestimate the amount you will save today; you will soon realize how large these savings are. Make yourself an emergency fund, even if you face a financial crisis one day away from your savings account. You can follow many other methods that are mentioned in the Money Saving article.
Live at a lower level than your income:
Your commitment to this rule, keeping away from appearances and boasting will definitely benefit you in the future if you wonder how to become rich. No need to buy a house with a huge garden, or a luxury car as long as it will consume all your savings right now. Do not bother buying expensive brands of clothing, electronics, sunglasses or jewelry. All this goes away to his wealth as soon as you buy him, and his debts come back to your accounts with loss. Even if you can afford it, the money is first to save, and as you reach your dream of wealth you can begin to spend, but also with patience and wisdom.
Place credit cards aside:
Keep away from credit cards as much as you can, and as a rule, what you can not pay for in 2-3 months is not to be bought with a credit card. As mentioned in the first article, borrowing burdens you and your bank account as well. If you do not have enough cash, just refrain from buying if you are wondering how to become rich.
Make money working for your account:
Instead of working to make money make money working for you .. Try to invest your money so that it increases over time, without you needing to waste your time in it. For example, you can buy shares in a certain company, and depending on the proportion of your partnership will be the returns from profits.
Create your own project:
In the “Millionaire in Neighbor” book, two-thirds of the world’s millionaires work for themselves, in their own businesses, 75% of them as business people, and the rest are specialists such as accountants and doctors. The idea that the inheritance of money has made you rich does not have that spark that was old, as the book said, money often comes through projects and business.
What is disappointed by the consultant:
Using a financial specialist or a professional economic planner will help you to make money and get rid of the wrong options within your cash plan. Not necessarily hiring one but maintaining good relationships with business and financial professionals will benefit you greatly in getting the advice and guidance you will need.
To achieve the goal of saving, you must protect your money from yourself and there are many ways to do so, most notably:
If you have to go to the bank to get your money saved, this will give you more time to think before you take this step and will make these funds less likely to spend.
If you think your partner is better at spending management, you should seriously consider giving him control over your savings.
Put your money in deposits or mutual funds so that you can only recover them by applying and such an order will create a barrier to keep your money.