Getting rich slowly-not a Rocket science
A Get Rich Slowly but Surely Plan in Seven Steps
It's true that money can't buy happiness, but it certainly can help you live the life of your dreams!
You don't need fancy investment strategies to become financially secure, and you don't need to win the lottery either!
Here are seven simple steps you can take to help you reach your financial goal:
Make a Budget
Budgets are a necessary evil. They're the only practical way to get a grip on your spending so that you can make sure your money is used the way you want it.
Creating a budget generally requires three steps:
- A. Identify how your money is spent today.
- B. Evaluate that spending and set goals that take account of your financial objectives.
- C. Track your ongoing spending to make sure it stays within those guidelines.
Pay Yourself
Save 5-10% of your paycheck to a separate account before you have a chance to spend it and you will soon realize a great wealth! Best of all this will grow your "nest-egg" without changing your lifestyle!
Get the Most for Your Money
Place the same amount of money each and every month into an investment, thus helping your fortune grow steadily over time.
Make Your Assets Work
Convert savings accounts into higher-paying money market accounts. Sell unneeded items and invest the proceeds. Invest in stocks rather than bonds and guaranteed income funds.
Know about Compound Interest
The secret of compound interest is time! Compounding simply works better over time. Start investing regularly in stocks keeping a long term of 5 to 20 years.
Pay Lower Taxes
The only two things certain in this life are death and taxes. Though we all must pay taxes, there is no patriotic reason to pay any more than our fair share. Be smart check this possibility with a good accountant and do some research.
Build Your Plan
Build a financial time targeted investment plan and stick to it! Like most people, you know that you have to save and invest your money, but, without clearly defined goals and objectives, it's hard to know how fast to save, whether the return on your investment is high enough, and if the investment is safe enough to rely on to be there when you need it.
- Knowing and understanding the desired outcome of your investment will help keep you motivated and focused.
- Knowing and understanding your personal investment goals will help you determine what to seek from your investments.
- Finally, before investing, ask yourself: Why do I need my money to grow & when do I want to use it?
How rich people communicate
One continues to be poor because of his/her habits. Yes, if we can only improve few habits we can become rich. Communication is one area where rich people score very high compared to poor. Research shows that most poor people lack communication skills. How rich people communicate with people around them? Research proves that majority of poor people are more self-concentrated. This makes them uninteresting for other people. Being only self-concentrated does not help the communication chain. Try talking to people more about themselves and you will see that communication flows more smoothly and fruitfully. As majority of poor people are more egoistic they prefer thinking and talking more about themselves. This is very damaging when it comes to building relationship. One cannot become rich on their own. There should be a combination of several things. One of the most important things is people and relationship. Self-ego does not help in building relationship. So it will not be wrong to comment that wrong communication habits keep people poor. So how rich people communicate in their day to day life? This is what we will discuss in this article, keep reading…….
I am sure we all know Warren Buffett. He is one of the richest men on this earth. He has built a fortune from his investment skills. When Warren Buffett talks in public he looks so natural. The way he modulates his voice, his body-language, his hand movements is simply amazing. Is it a pure coincidence that Warren Buffett is rich and also a good communicator? No, he worked hard to achieve both the milestones. His number one goal was to invest money profitably. But effective communication helped him to get to the top. Warren Buffett was very shy is his young age. He overcame this limitation by opting to teach in a night school. This way he could communicate to larger audience and learn to control his nerves. It is not important what way Buffett selected to improve his communication. Important is to understand that he gave importance to communication. How rich people communicate with other will is generally impressive.Surely, there is strong link between the way we communicate and our possibility to get rich. An effective communicator makes a complicated thing simple and then delivers it to a larger audience.
The relationship that has already been made is already made. One can only improve it. One can use the tricks of ‘making complicated thing simple’ and start communicating with near and dear ones. The benefits can be observed instantaneously. But one also deals with new people in day to day life. Communicating with new people is more difficult. Idea is to convert every relationship into a gold mine. For sure not every relationship can prove to be gold. A healthy relationship works like a success-chain. One relationship leads to another and paves path for success. Generally rich people know their acquaintances very deeply. This automatically happens to rich people because of their communication skills. People open-up much more to rich people. When rich people talk least about themselves. They will only ask interesting questions about the other one. Idea is to make people comfortable. People find it easy to communicate when they are speaking about themselves. Rich people use this trick to build relationships.
Suppose one happens to meet a person who can really help him. How should he communicate with him? At that moment of time one needs to have a plan. Purpose is to convert a small chit-chat into a profitable relationship. This conversion does not happen instantaneously. Building genuine relationships is more important. It is not so difficult to kick-start the process of genuine relationship. We just need to know to ask the right questions. Remember, idea is to make the other feel comfortable while communicating. People often find it hard to start a conversation with a new person. Rich people are expert in initiating conversation with new person. A research has listed few questions that most rich people ask to a new person. I read this article and I thought I must share it with my readers.
How Rich People Communicate? How they initiate conversation?
Communication is very important aspect of getting rich. It is nearly impossible to get rich if we are not communicating well. Proper communication helps to make true friendship and genuine relationships. Beyond doubt, there’s will be a positive effect of encouraging people around. Not only it keeps us balanced but it also helps us to become rich. Rich people communicate so effectively that they build trust very easily. The environment that rich people create triggers creatives ideas to make more money. Poor people are more miss-understood
Effective communication helps us better understand a person or situation and enables us to resolve differences, build trust and respect, and create environments where creative ideas, problem solving, affection, and caring can flourish. As simple as communication seems, much of what we try to communicate to others—and what others try to communicate to us—gets misunderstood, which can cause conflict and frustration in personal and professional relationships. By learning these effective communication skills, you can better connect with your spouse, kids, friends, and coworkers.