Everyone who strives for success understands that they have to work hard. However, one option is not enough. You have to take full responsibility for what happens in your life. That is why the first step toward success should be a complete change in the way you think. Look at the world with a new look. Everything is only in your hands.
People become rich in three stages. All three levels are important. It is impossible to move from one level to the next without progressing.
First level - earning more.
Second level - saving more of the money earned.
The third stage - investing widely in saved money.
Earning more:
Getting a good job in a good job or a good career. If less, earning money can be life-saving. Thus, let’s look at some examples of what can be done to earn more.
If the money earned is not enough, both husband and wife will go to work
Getting involved in vocational training, developing your skills or getting another job or promotion
The earning person, part time, lands another job or profession
Getting into a business based on things we know and like.
Of the money earned, saving the most:
Money earned should be saved, not lost. Some people save 10% on a monthly salary. There are also people who save 50 - 70%. This step is simpler than the first step. The money earned is already there. You need to think about how to store it. Some things are important for this.
Living a frugal life:
We have to live by spending money (Budget) without wasting any money. Within the monetary plan, life must be conducted. Debt should be allocated. If the money earned is stuck to pay off debts, no money can be allocated for investment. Debts must be set aside. The man in debt, the slave man. He mortgages the future to debt.
Have an emergency fund:
An emergency fund can help you deal with the urgent needs of the home, without having to deal with others. Avoiding debt.
Have a health and term insurance plan; The insurance plan will protect you from having to borrow for emergencies. Gives hope to life.
Need-based housing, vehicles to be purchased; Home and vehicle are the biggest costs of one's life. They should be purchased as needed. Otherwise, you will be burdened with a huge debt burden.
Living within the money earned. The cost is to live in control and save money, without ever having to pay.
Be careful with every expense:
Eating in a restaurant, watching a movie, watching that every thing, it is necessary to save money. Taking advantage of any office-based, store-based offers. Saving money through any one reasonable offer
Making more money but never changing the standard of living.
This is called Lifestyle inflation in English. Raising the standard of living while earning too much. This will make you lose more money again. Despite earning more money, the quality of life is the same as before, living frugally and saving money. Note above all, saved money, it is important to set aside for social benefit. It is the duty of man to govern himself, to live, to pay his debt to society.
Widely invest in saved money:
The money saved, without investment, cannot cope with inflation. The word widespread here is important. Even if one investment fails, another will save. This investment should be started early and grow long enough, without disturbing. You can only get here if you cross the first two steps. Only by earning more, can the need go and save. You can only invest if you save. Let us look at some examples.
Reinvestment of Dividend Amount of Shares, reinvestment of Dividend Amount without spending.
• Investing in Mutual Funds. Investment in mutual funds is less risky.
• expanding and expanding the industry; By investing heavily in business, expanding and maximizing money
Government tax concession based
Investing in Investments:
Investing in tax-exempt schemes such as Public Retirement Deposit Fund (PPF), National Savings Scheme (NPS), Kisan Vikas Bond (KVP), National Pension Scheme. The money that grows here is fully available. Utilization of Government's professional projects.
Long-term return on investment:
Investments are money quality, period. Until then, wait patiently and let the investment grow. Picking it up in the middle is like cutting a golden egg duck. If the seed is disturbed frequently, the seed will not grow into a tree. The well-watered seed will turn into a tree and bear fruit.
Widely investing in:
Getting into many businesses, not just one business. Diversification of investment into equity based mutual funds, bond based mutual funds, stocks, gold, land, without being the only investment.
Immediately investing huge sums of money; Immediately invest the surplus money available in any business, or office. Not in vain.
Investing in his business, his skills:
Such an investment could lead to higher salaries in the future. Investing in business will increase business.
Continuing to invest; Stock market fluctuations, without worrying about the recession, I have to continue to invest that my debt is invested.
Investment should not be stopped for any reason.
Thus, the money invested, according to the compound interest theory, will multiply and become big money and become rich man. The money invested in the business will multiply the business, multiply the money and make you a rich man.
Humans are gradually getting richer. It takes patience. Even if you slip in one of the three steps, you will not become rich. No one can become rich overnight.
Some important tips:
• Only one person's labor will make you wealthy. Others must work for your progress, you as the employer, others as the worker.
• One of your professions is to give people an essential item that they cannot avoid, at a price that suits them. In this, the middle class and the poor will follow you. These are the hubs of your business all the time.
• Another industry should be dependent on the luxury sector, targeting those who are reluctant to spend money in the community. It is not easy to impress them. But these are more profitable for you.
• It is difficult to find people you trust in every profession. Every rupee exchanged in the business must be documented.
• Your competitor in business is your guru.
'Career Without Mind'
• Increased influence in the city, and contact with those in power is important for the safety of your business. It is also necessary to 'look after' him often.
• Make full use of technology. Finish global work from where it was.
• Avoid innocence and excessive compassion until you reach your goal.
• Your money should be in a place where it can multiply itself. (Investments)
Finally, do a little better when it comes to getting bored with the money you have struggled with.
