If you want to attain money & prosperity, you need to stop dreaming and start doing. Look, nobody ever got rich dreaming about being rich. It's as much about the attitude as it is about what you do and how you save and invest. So before we get into the more practical steps on finding financial independence, the first step is to stop wishing you could be rich.
Here are the five steps you take to get there...
Stop Spending
If you want to know why you're always broke at the end of the month, it's because you just had to have the latest Iphone or gadget, it's because you just wouldn't give up on your soy lattes from the coffee shop, it's because you keep buying new clothes, rarely wearing them then shelving them. Look, it's all about the mentality. There are people who win the lottery, and because of how they spend, they're broke again in a year's time. If the first thing you do with a dollar is think of what to spend it on, then stop wasting your time thinking you can get rich.
Cut Your Expenses in Half
It's possible to just plain cut your expenses in half. Do the math and figure it out. You can trade your gas guzzler in and buy a used car, so no more car payments and you're spending way, way less on fuel and even on insurance. Cut up your credit cards, so no more bills there. Stop using so much electricity and water. If you're young and single, you could even consider moving back into your parent's house for a little while to save up some money. The point of this step is to have a little something to invest at the end of every month. If you can turn half of your income into disposable income, you can turn it into income to invest.
Set Your Sights Realistically
You're not going to be a millionaire overnight. It's very, very possible to become a millionaire by spending and saving and investing wisely, but it's not going to happen in a week or a month. Luckily, if you put the time and effort in, if you think things through, you'll feel life getting easier on you in six month's time, but to be a millionaire takes hard work for years. Forget the mansion on the beach for now and be realistic.
Make a Plan
Set your goals and work towards them no matter what. Arnold Schwarzenegger was a multi-millionaire well before he was ever a movie star. He would write his goals on index cards at the start of the year, and then work towards them, crossing them off when he attained them. He never gave up on any of them. Set your goals realistically each year.
Don't write down "GET RICH!" rather, write down something like "Start an online business". Next year, you can write "expand my business" and success will follow. Don't base your goals on luck.
Reinvest Your Earnings
When you make your first earnings through investments, reinvest that money. Don't cash out and go to Vegas. Take the money you made on your business or in stocks and put it right back where you got it. The more money you make, the more money your money will make you. The difference between rich and poor isn't the money, it's the fact that rich people make the money work for them. Like Many Successful People.
Are You Ready To Take Full Control In All Areas Of Your Life?
Pictures: Courtesy of Gettyimages and pixabay
Article Source: https://EzineArticles.com/expert/Chris_Christophi/420332
No comments:
Post a Comment