Need Guidance in Phil Stock Market and Be Blessed? Sign-up now!!!

GodWhispersClub.com52 Healing Habits Program of Bro Bo SanchezJoin the Truly Rich ClubJoin FamilyReborn.com

Share This!

Saturday, June 4, 2011

Practical Tips on How to Become Rich


Practical Tips on How to Become Rich

Everybody wants to be rich. This is more obvious in a Third World Country like the Philippines. Who else doesn’t want to enjoy a comfortable living anyway?

As you can see, a lot of people line up in a lotto outlet hoping they can hit the jackpot and becoming an instant millionaire.

We have been probably bombarded by a lot of financial advises. From simple ways on how to control spending, how to protect our money, valuable ways to save money that we can implement, investment options and decisions that we should consider to grow our money, each presents little step by step on how to be rich and financially free.

Hardwork. Nothing on earth can be achieved without hardwork. As the famous commercial of Milo says: “Great things start from small beginnings.” Each of us has to do our own work in order to achieve our goals. No questions about that. All the hardworking bring a profit, but a mere talk leads only to poverty. So work hard, shut your mouth and do your thing

Investment. You may be tired of hearing this: “Don’t put all your eggs to one basket!”. Diversify, diversify, diversify. There are a lot of options where to invest your extra cash such as Mutual Funds, Unit Investment Trust Fund (UITF), etc. Take note that no one has become successful without encountering risks.

Borrowing. As much as possible, do not borrow if you cannot commit yourself to turn the debt into a ‘good debt’. There’s a huge difference between good debt vs. bad debt. Each time you borrow, you become a slave of the lender. You will act as a servant to your master which is the lender. You will be inclined to work harder just to pay your debts for the rest of your life.

Auditing. You don’t need to become an accountant to audit your own money. Just separate the wants from the needs. Beware of little expenses, a small leak can sink a large ship. You must watch out for those leaks and stop them as early as possible.

Savings. Don’t save what is left after spending. Instead, spend what is left after saving. This is the proper way of saving money wisely. Save first before you spend. Pay yourself first. Use the equation, INCOME - SAVINGS = EXPENSES

Earnings. Never depend on a single source of income. This is why a job is one of the most unsecured source of income. Build and invest into assets so that they can provide you passive income even while you are sleeping.

There are many ways on how to do it nowadays especially with the rise of internet technology. Internet business, investing on stocks market, mutual or UITF are definitely one of the most profitable among businesses which many people haven’t discovered yet because they are too busy with their jobs.



Next to be read...
Top 10 money advice for savings



Related post



No comments:

Post a Comment

Need Guidance in Phil Stock Market and Be Blessed? Sign-up now!!!

GodWhispersClub.com52 Healing Habits Program of Bro Bo SanchezJoin the Truly Rich ClubJoin FamilyReborn.com
Related Posts Plugin for WordPress, Blogger...