“There is no law against living below your means (and then saving and/or investing what is left).”
― Mokokoma Mokhonoana

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I'm going to be rich ! This is what most people’s wish to become for their lifetime. Before you reach that goal, there are 5 steps and 28 habits to moving forward to the first pot of gold. Here we go:

Hereunder are 5 steps to make first pot of gold.

Step 1. Make up your mind

Many people think that a determination to become a rich person is a kind of determination. In the eyes of experts, this is not enough. German money coach Bodo Schäfer points out that truly determined people will say, "Even if there are setbacks, I will not give up, I will be rich no matter what!"

Step 2. Set specific goals and practices

Set specific goals one at a time, like planning a vacation, with a list of things to do and a schedule. For example, a newcomer in the workplace might set a goal of making 1 million pesos over five years. But this is not enough. The specific goal should be: how to accumulate 1 million pesos in 5 years.

Step 3. Tell friends and family about your resolutions and goals

You can stick to your goals by writing them down on your blog, or by emailing or calling friends and relatives. Investment guru John M. Templeton was never afraid that others would know that he was cheap, because friends would instead tell him where to find bargains.

Step 4. Track and evaluate

You can rely on household accounting books or accounting software to keep records, post a list of invoices for daily expenses (including cash and credit cards), review weekly whether there are wasteful expenses, and keep inspection records. If you can save another 10% each time, Congratulations, you have learned to plan for living expenses.

Step 5. Self-encouragement

Take out the positive thought card you wrote when you made up your mind, or write another self-motivation card like "One step closer to the rich" and read it to yourself. Recite it before going to bed and when you wake up, so that you can feel confident and remind yourself to keep going.

And among these 28 good financial management habits, how many do you have? Always thinking about making money:

1. Often imagine your future rich life.
2. No matter how little money you have, you will still manage your finances.
3. Always think of some money-making ideas.
4. Read financial books and newspapers when you have time.
5. Associate with people who are very good at managing money.
6. Concerned about the interest rates of various commodities and loans.
7. As soon as you have money, plan how to use it.
8. Deal with and make comparisons with several finance specialists at the same time. Try to save money !
9. Use "income – savings = expenses" to make budget planning.
10. Save 1/2 of your extra incomes, such as salary raises, dividends, bonuses, etc.
11. As soon as the salary is paid, the funds will be automatically deducted to buy funds and force yourself to save.
12. When you have no money, no matter how difficult it is, don't use your investments and savings.
13. Be aware of where all your money is going.
14. Keep bills with your family. Try hard to save money
15. Find out the top 5 expenses from the accounting and find a way to save some more.
16. When you see something you like, wait until it is on sale before buying it.
17. After eating with others, you will pay for your own.
18. Keep only one credit card and try to pay in cash.
19. Try to do other activities with relatives and friends who love shopping, don't go shopping. smart money management.
20. When investing in financial products, you must pay attention to the precautions.
21. No matter how good investment commodities are, do not do concentrated investment. Diversify investments.
22. When someone advises you to make an investment, you don't act immediately.
23. It is better to save money than to invest blindly before you are not sure.
24. Ask clear questions to investment experts and get written responses.
25. Write down the ratio of asset allocation, reasons, review period and handling principles in case of market changes.
26. Invest with spare money and set the principle of stop profit and stop loss.
27. When setting goals, set the amount and time to reach them.
28. Reward yourself when things are done well and goals are achieved.

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