“You can’t build wealth by buying things you don’t need, with money you don’t have, to impress people you don’t like.”
So how do you build wealth in real? There are four common means to become rich either fast or over time. They are:
Marry a rich partner
Inherit it from your parents or forefathers
Get money from a windfall like a lottery
Save and accumulate
Even though the first three steps are easy ways to become rich, you need a element of luck too to go that way. The best and most dependable means of earning wealth is the last point i.e. becoming rich by saving and accumulating.
So how do you accumulate wealth? There are four golden rules involved in wealth creation. Please find it below:
Live prudently: To live prudently I mean to spend what you have. You should avoid living on credits. Using of credit cards is good when you have the balance in your bank account to pay it off immediately. In the olden days, when the concept of credit cards and personal loans were not there, how did people live? They still lead a good life, when they didn’t have money to buy something, they didn’t buy it. What was the result? They had more savings and they were debt free to a large extend. Today we see the saving of a large
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Sanoj Jose –
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