Become Wealthy - 7 Practical Things You Can Do to Increase Wealth
If wealth could be served on a plate, the majority of people would order a very generous helping and request seconds.
While so many people desire wealth, the fact is that the majority of people are either poor or live continuously from paycheck to paycheck and never become wealthy.
While becoming wealthy is not an extremely easy thing to do, it is however very achievable.
There are several very specific and practical things that you can do to increase wealth.
1.
Believe that you can become wealthy.
This is the ultimate key to your success.
If you believe that you can become wealthy, that's more than 90% of the hurdles you have to cross.
Don't underestimate the power of belief.
Constantly picture yourself as a wealthy person.
See yourself leading the lifestyle you desire, living in the house or area you desire or owning a successful company.
A very wise person (Jerry Gillies) once said, "Wealth is not a material gain, but a state of mind.
" To increase wealth start believing that you can, and refuse to entertain any negative thoughts or persons that may make you believe otherwise.
2.
Do not spend more than you make.
Spending more than you make will guarantee that you never become wealthy.
If you have this problem, prepare a personal budget and identify where you can begin to cut back on your expenses.
For example, reduce the number of times you eat out during the month.
If you're married and you and your spouse each have a car, get rid of one car or downgrade the cars that you have.
3.
Say "No!" to debt unless it is for investment purposes.
I only advocate incurring debt for investment or other worthwhile purposes such as real estate or a business start-up.
Charging an expensive vacation on your credit card does not qualify as a worthwhile purpose.
In fact, you should avoid credit card debt at all cost.
If you are not able to pay off your credit card balance at the end of each month, don't use it.
Instead you should put off making purchases until you have saved enough money to do so.
This way you avoid unnecessary debt and the high interest charges that come along with it.
4.
Invest your time in things that help you become wealthy.
Time is money.
Rather than wasting away countless hours watching television or engaging in some other mindless 'time-stealing' activity, invest your time in creating value for yourself - whether it's reading self-help or how-to books, attending seminars, doing business research on the internet or engaging other wealthy people.
It's amazing to think that Bill Gates, Oprah Winfrey or other wealthy people have the same number of hours in a day as everyone else does.
They don't get a bonus of two or four hours a day.
The difference is simply what they do with their time.
5.
Start your own business.
This may sound a bit overwhelming but it really doesn't have to be.
New business ideas are born every day.
Make a list of the things you are interested in, your hobbies, skills or even something related to your current job.
Think of how you can turn one of these ideas into a viable business.
Starting your own business is key to becoming wealthy because entrepreneurs are 4 times more likely to become wealthy or become millionaires than those who work for others.
7.
Take action and be persistent.
Start believing now that you can become wealthy and free yourself from financial slavery.
Take action now and start planning how you will get yourself out debt.
Write down the tangible steps that you will take and put a target date to each action step.
Take action now and identify a business opportunity and set goals for making your business a reality.
You may have to start small - maybe a home-based business or an online business but the point is to start.
Once you have taken action in fulfilling your goal of becoming wealthy, you need to be persistent in the pursuit of your goal.
Determine within yourself that you will never give up on your dream and never give up on yourself no matter how many challenges or perceived failures you encounter.
Begin viewing 'failures' as learning exercises.
Remember, belief in yourself is 90% of battle.
While so many people desire wealth, the fact is that the majority of people are either poor or live continuously from paycheck to paycheck and never become wealthy.
While becoming wealthy is not an extremely easy thing to do, it is however very achievable.
There are several very specific and practical things that you can do to increase wealth.
1.
Believe that you can become wealthy.
This is the ultimate key to your success.
If you believe that you can become wealthy, that's more than 90% of the hurdles you have to cross.
Don't underestimate the power of belief.
Constantly picture yourself as a wealthy person.
See yourself leading the lifestyle you desire, living in the house or area you desire or owning a successful company.
A very wise person (Jerry Gillies) once said, "Wealth is not a material gain, but a state of mind.
" To increase wealth start believing that you can, and refuse to entertain any negative thoughts or persons that may make you believe otherwise.
2.
Do not spend more than you make.
Spending more than you make will guarantee that you never become wealthy.
If you have this problem, prepare a personal budget and identify where you can begin to cut back on your expenses.
For example, reduce the number of times you eat out during the month.
If you're married and you and your spouse each have a car, get rid of one car or downgrade the cars that you have.
3.
Say "No!" to debt unless it is for investment purposes.
I only advocate incurring debt for investment or other worthwhile purposes such as real estate or a business start-up.
Charging an expensive vacation on your credit card does not qualify as a worthwhile purpose.
In fact, you should avoid credit card debt at all cost.
If you are not able to pay off your credit card balance at the end of each month, don't use it.
Instead you should put off making purchases until you have saved enough money to do so.
This way you avoid unnecessary debt and the high interest charges that come along with it.
4.
Invest your time in things that help you become wealthy.
Time is money.
Rather than wasting away countless hours watching television or engaging in some other mindless 'time-stealing' activity, invest your time in creating value for yourself - whether it's reading self-help or how-to books, attending seminars, doing business research on the internet or engaging other wealthy people.
It's amazing to think that Bill Gates, Oprah Winfrey or other wealthy people have the same number of hours in a day as everyone else does.
They don't get a bonus of two or four hours a day.
The difference is simply what they do with their time.
5.
Start your own business.
This may sound a bit overwhelming but it really doesn't have to be.
New business ideas are born every day.
Make a list of the things you are interested in, your hobbies, skills or even something related to your current job.
Think of how you can turn one of these ideas into a viable business.
Starting your own business is key to becoming wealthy because entrepreneurs are 4 times more likely to become wealthy or become millionaires than those who work for others.
7.
Take action and be persistent.
Start believing now that you can become wealthy and free yourself from financial slavery.
Take action now and start planning how you will get yourself out debt.
Write down the tangible steps that you will take and put a target date to each action step.
Take action now and identify a business opportunity and set goals for making your business a reality.
You may have to start small - maybe a home-based business or an online business but the point is to start.
Once you have taken action in fulfilling your goal of becoming wealthy, you need to be persistent in the pursuit of your goal.
Determine within yourself that you will never give up on your dream and never give up on yourself no matter how many challenges or perceived failures you encounter.
Begin viewing 'failures' as learning exercises.
Remember, belief in yourself is 90% of battle.
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