I don’t claim to be millionaire, but thanks to a bit of hard work, meeting the right people, ingenuity, luck, tips and principles, I’ve managed to get out of the “minus” of the 1st 50% of the western world and get into the remaining 50% who are not in debt, and create wealth daily.
A book which I’d recommend anyone to read is “The Cashflow Quadrant” by Robert Kiyosaki – who reveals the distinct differences between “working for a company”, “being your own boss”, having others “work for you” and finally having an “invested interest” in those who make money.
It’s hard to believe sometimes, but there really is enough money to be made for everyone, and deciding to create extra wealth can be a very fun hobby 🙂 Apart from the extra opportunities money can bring, it’s my experience that you can build some real friends and relationships in the process, as well as have the privilege of working close to your true passions in life.
Talking about money is sometimes hard to do, but the starting point is doing just that, and being honest with yourself and all others involved in your money.
I hope that this list will lead you through the strain and stress than money issues can cause…
Stop wasting time, your time is the most valuable thing you have.
You don’t work, you don’t eat. You don’t polish, you don’t shine.
Having said that, work hard but never depend on a single income. If you are dependent on a single income source, you’re at great risk. Do not put “all your eggs in one basket” as they say. Make not just financial investments, but also investments of your time and energy to create multiple sources of income.
Increase your personal worth at every chance you get by learning new things, skills, talents, languages.
Grand Law: Increasing your incomings and decrease your outgoings.
Input & Output: The only way money is made is through the input of Power (Time, Energy & Money) and is a direct result of the intelligent application of Power.
Loss of Money results from applying Power in the wrong place.
What is a system?
A group of interacting parts forming a complex whole. Concerning “money” we are looking for systems that convert Power into Money and ways to increase the amount of input and increase their output.
Spend less than you earn.
If you buy things you do not need, soon you may have to sell things you do need.
Plan ahead every time you spend money.
Record everything: your income, your expenses – daily, weekly, monthly and yearly. That which is monitored can be improved.
Take care of your things. If you can’t earn more per hour than the time it takes to do a task that you have to pay for, then do it yourself.
Eliminate any debt you have as your 1st priority.
Spend less than you earn, or at least make more than you spend.
Stop trying to impress other people.
Do not save what is left after spending, but spend what is left after saving.
Never test the depth of the river with both feet.
Give without strings or regrets at least 10% of your income regularly – it’ll make you richer.