There is a huge difference between the habits of rich people and poor people. And there is a huge difference between the attitudes of both categories. Robert T. Kiyosaki said,
The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.
Self-made rich people are always committed, passionate and consistent. Stephen Covey has said that successful people are proactive and they have great communication skills.
Everything is true.
I use to believe that there is no rocket science of anything. Each and everything has its fundamentals and when followed everyone can do anything.
Let’s say you can be successful if you adopt success factors.
So is the case with becoming rich.
Once I read,
Rich people save first and then spend.
When I judged my lifestyle, I found that my expenses are more than my incomes, how can I save money? Should I lessen my expenses? And what if I only spend on necessities?
Sooner, I realized that there is a difference between necessities and desires.
How you can differentiate between necessities and desires? Here is my simple “shortage formula” to differ.
Let’s say if you have suffered from a shortage of water, how will you consume water? Definitely when ended the most.
With the formula, you too will find that it’s possible to cut off the expenses as I did.
Then I started reading books on being wealthy. I was curious to know what rich people do and what’s the main difference poor and riches.
Tony Robbins has said, self-education is the only solution to every problem. And when I read “The Richest Man in Babylon”. Then I got the real story.
There is really 1 habit that makes the difference.
The real difference between riches and the poor:
The major difference between riches and the poor is that riches save first and then spend.
It looks like surprising, maybe, you too, are thinking that as riches have more money than their expenses that’s why they save first. Is that really true?
I don’t think so.
Every self-made rich person had this time where you stand. But they managed their life so that they were no more ruled by their desires.
They got the theory that no matter how the money you make, you can spend all and even more than your incomes. And no matter how little you earn, you can save at least a penny.
That’s why they saved first no matter how it had been.
How you can be the richest person?
This is a really important question. You know, I really want all of you to be rich, that’s why I always try to set examples by experiencing whatever I speak. Because I don’t t speak what I have not personally experienced in my life. I have found this method works for all that’s why I decided to share it with you.
So if you want to be the richest person, it’s not that much difficult for you. You just need to follow the method of George Clason and what Jim Rohn also preaches as to open a saving account.
Save at least 10 per cent of your incomes.
Let’s cut into small pieces for better understanding.
- Organize and prior the expenses
- Save at least 10%
- Invest wisely
Organize the expenses:
I believe that whenever you organize things, you need to put fewer efforts.
Like, Brian Tracy has said that if you spend the first 12 minutes to plan your day it will save 120 minutes each day.
It works in all fields. Actually, I believe that wherever you organize things, you perform better than ever.
So, when you organize your expenses you can better understand how much important something is to invest.
It’s always said to write everything you want to measure and improve. Here write down the expenses and categories them with basics, essentials and show off items. You will find a number of ways to save show off items.
Save at least 10 per cent:
George Clason has said, whatever your income is, keep 10 per cent for you. And don’t touch it even in the harder times and let it make money for you.
Now, you must be able to understand where you don’t really need to spend money and you can save money for your better future.
Let’s say you don’t still find it easier to save 10 per cent. Don’t get hurt. Even Jim Rohn had opened his saving account with just $10.
Actually, it doesn’t matter how much money you save. The thing that matter is to build a habit of saving. If you will learn to save $1 and keep it, it means you can save more. And remember as the earlier as the better.
Invest that money wisely:
It’s really the most important part of the story. I know, you can prior and save money – somehow. But, here, I’m sure you will have a fear of losing it.
It’s a risky part of the story.
Do you know why it’s always risky?
Actually, it’s not always risky. It’s only always risky for those who don’t learn to invest money.
Look, investing money is a skill and you will have to learn it. Invest wisely.
A philosopher said,
If you collect all the money from the people and distribute it in the world equally. Sooner or later, it will come back to the actual pockets.
Investing wisely means, you should always invest in something that you learned your own. Never invest in something that you have not experienced yet.
Instead of it always invest your time to learn that thing first.
Here, I mean, whatever your field is, where you want to invest, learn from the experts of the fields – who have maximum profits in the field and invest in the field. And if you don’t have time then you can find partners who have strong expertise in something so that not only they can save your money – also they will make more money for you.
What will be the impact on your life?
Do you remember, when you have been worried and angry with your family? When you were upset with the job? When you were more willing to smoke drink and have more intimate relationships?
What was the reason?
Remember the most of times when you were rude, worried and angry with your family and fellows – you will find one basic reason behind most of them.
Yes, it’s money.
When you have money in your pocket, you become confident, happy and can strengthen your relationships easily. Isn’t it so?
Believe me or not it’s true. And when you will start saving money you will sooner realize that you were on a mistake by not doing so.
Look, there is no need to wait for a good time to start saving money, it will never come until you start saving money. Today is the day to start. If you won’t compromise or sacrifice today, you will have to suffer it the whole life. And if you try it once – right now – all the sufferings will end sooner and you will enjoy the rest of the life.