Tips on how to become wealthy

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We all should aspire to become wealthy and not just rich, you might be confused and think "don't they all mean the same?, but let me categorically let you on that they don't.

WHO IS A RICH GUY

A rich person can be termed rich probably because he has a high-paying income, a big house, drives the fanciest of cars, and wears the latest designer clothing. But to all this, if his spending is more than his income, for example earning $200,000 in a year but spending double that amount on expenses making him have debts hanging around him. He is rich and has a lavish lifestyle, to show for it, but he isn't wealthy, he only survives on the job to maintain the lifestyle, and when the job ends, he might go broke again. He doesn't even have budgets on how cash flows in and out, he is just on a spending spree.

Now who is a wealthy person

A wealthy man might not earn up to the rich man, but he is termed wealthy because his worth is greater than his expenses by far, no debt attached to him either. His attitude towards his finances can sustain him for life. He keeps track of his wealth and knows when there is an incoming danger, so he knows how not to come down financially.

How to become wealthy

1 Always save a percentage from your income, it could be 10-20% constantly.

2 Investment, a wealthy man looks for ways to double his income, either by acquiring assets or investing in the stock market. This investment works for him in the future time when he retires.

3 Spend less, the extravagant lifestyle is not for a wealthy man, especially during the growing stage.

4 A wealthy man in making stays off debt or anything that wants to tamper with his finances.

5 A wealthy man sees a better future, the reason why he sets long-term goals and stays determined to accomplish them.

CONCLUSION

Wealthy men don't necessarily start their journey rich, they rather start with a wealthy mindset, saving and investing a regular thing to them with lots of determination. Think like a wealthy man today to have a sustainable and stress-free future.

Thank you for reading.

Posted Using LeoFinance Beta

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8 comments
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Thanks for sharing this tip, this is a nice article one needs to really read well and digest

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yea, we should all have this tips in mind as we hustle fir a better future.

Thanks for reading

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    My definition for what means having a enough for the future, a sustainable kind of wealth and not being able to take care of ones present bills.

    Wealthy person mostly things of long term investment, their today is sorted and the put all their focus on the future

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