Being rich is your dream, isn’t it?
But it remains just a wishful thinking in your life.
You do not know how to plan your money.
The answer is very simple. While you had only wishes, they had the answers.
Top 10 easy ways to be incredibly rich – Make it happen to you!
1. DEVELOP THE MINDSET.
You should develop the mindset to become rich. Otherwise you will never work towards making it a reality.
- Take off mediocrity from your life.
- Think big.
- Work hard.
- Think of different lucrative ways to manipulate your money properly.
This is the first step to become incredibly rich.
2. YOUR FIRST SPENDING IS YOUR SAVINGS
What do you do when you get your salary?
I am sure most of you go on a shopping spree. You want to relax your work stressed mind. But it is not the right way to become rich.
Your first spending should be your savings.
Let us suppose you are earning one thousand dollars.
How much do you spend?
- If you spend all your one thousand dollars you are in a tight corner.
- If you are spending one thousand and hundred dollars you are squandering your money away. You are gradually getting into debts.
- But if you spend eight hundred dollars and save two hundred dollars you know the art of multiplying your money perfectly well.
Earn! Save! Spend!
3. BUDGET YOUR INCOME
Do you think budgeting your income is not needed?
You are wrong.
A country needs a budget. A large company needs a budget. You too need it.
Unless you budget your income you never know the proper way to allocate money.
Allocate your income according to its priority.
Top priorities in your budget.
- Repayments and installments.
- Education fees of your children.
- Essential groceries for the month.
- Your savings for your old age.
- Recurring deposits and other savings.
- Your day to day expenditure.
Allocate money for your recreation also. You deserve some money for you too.
4. REINVEST YOUR SAVINGS.
Do you have recurring deposits?
Do you have fixed deposits?
- Do not withdraw the money after its maturity.
- Convert your recurring deposits into fixed deposits.
- Do not squander away your incentives.
- Convert it as fixed deposits.
Methodical savings can accumulate into a secure income when you retire. When you start young you have thousands of dollars in your kitty with least effort. Of course it is very tempting to spend money. But smartness in manipulating your money does wonders to your future financial security.
5. TAKE CALCULATIVE RISKS.
Do you deposit all your money in your bank?
Do you play it safe by investing money in schemes provided by your bank?
Your money will be safe, but will not see high returns.
The best way to save and multiply money is to take a fifty\ forty chance.
Sixty percent of your money should be safe as bank deposits. You should take calculative risks with the other forty percent money. Stocks, mutual funds, dividends and other smart ways of investments give good returns for your hard earned money. But be very careful while investing.
6. CONTROL YOUR SPENDING
Are you addicted to shopping? Control the money you spend.
- Do not keep on updating your electronic gadgets.
- Do not be too fashion conscious. You can never keep up with the trend unless you spend lots and lots of money.
- Do not go in car to nearby places. Fuel expenses can really cut into your budget. Walk to nearby places. Good for your body. Good for your purse.
- Do not eat in high end restaurants. It is very costly. Remember you are paying lots of money for the ambience and not for the food.
You might wonder how these small things can make you rich. It is these small things that gradually accumulate as big returns.
7. INVEST YOUR TIME
After returning from work you sit glued to the social media. You are addicted to TV. Or you just laze around.
- Do you have any special talent, like web designing, proof reading and copy editing?
There are thousands of opportunities available in the internet. You can earn easy money from the comfort of your home.
Your talents are your money builders.
- Are you talented in music?
- Are you an extraordinary cook?
- Do you have painting talent?
- Do you know tailoring?
Just a few examples!
You can conduct weekend classes for an hour or so. You feel relaxed when you meet new people. You feel incredibly happy when your hidden talent earns you good extra money.
8. DO NOT USE CREDIT CARDS UNLESS VERY NEEDED
Credit cards can literally drain your money. It gives you a false sense of richness. You get carried away when you go shopping.
When buying things with credit cards you forget you are borrowing money. You feel you are using your own money.
The interest rates for credit cards are very high. It takes away a sizeable part of your income. When you use cash you spend lot less as you can visibly see how much you are spending.
9. A HOME OF YOUR OWN
You should plan a home of your own.
- It gives you great mental satisfaction when the roof over your head is your own.
- It saves you lots of money you pay as rent.
- The money value of your home multiplies very fast. It should be the topmost in your priority list.
10. REAL ESTATE CAN BE A GOOD BET
Investing your money in real estate never lets you down. In fact it is a gold mine.
- The value of your land appreciates considerably within few years.
- Properties which yield rent is a very good investment.
It never happens immediately. But when you plan it you too can achieve it.
Meticulous planning and perfect allocation of your money can make you rich. There is no instant affluence for anyone. It takes time. Wishful thinking to become rich will never materialize. It should be more like hunger.
Not all millionaires inherited wealth. They started very small. Their thinking was big. Their work was smart. They controlled their money.
You should control money! Money should not control you! Money should not master you! You should master it!