We happen to live in a material world, where money tends to go faster than it comes by. For most of us, our hard-earned green notes go into daily survival needs – food, clothing and shelter. What we are left with is barely anything to scrape by with. And if you are like an other average employee, every month the only financial bit you have with you is the debt you have incurred. Paying off student loans, mortgages, car payments and credit card bills, has become a norm for the general public. While many feel stuck in the wheel of slog-earn-pay bills-die for the rest of their lives, you can get yourself out of the cycle by following these proven steps on going from debt ridden to rich. We teach you how to earn money without working.
Have you heard of Robert Kiyosaki? What about Tony Robbins? There are many gurus out there who teach us about getting financially strong, citing their own struggles and eventual victory with their finances. You may read book after book, watch video after video and even go for seminar after seminar to gain knowledge and insight, but the fact is that nothing is going to change until you MAKE the change. To break it down, follow these easy guides and watch your bank account grow along with your happiness quotient:
- In his groundbreaking book, Think And Grow Rich, Napoleon Hill had stated something that no one had ever thought of before: what you think, you become. Richness is a mindset. Look at any millionaire, or billionaire for that matter. They always have that air about them, that confidence that separates them from the rest. If you want to become rich, the first thing you need to do is think about it.
- Many people think about paying their bills the minute money comes in. However, financial experts like Tony Robbins suggest that you PAY YOURSELF FIRST. What does this mean? The minute you get paid, first think about setting an amount said that you will not touch, no matter what. Every time you earn interest on it, re-invest. This is what Warren Buffet did at a young age with his wife, and continues to do to this day. If you feel that you don’t have enough to pay your bills, that will be incentive to work harder and meet your living expenses.
- The principal sum you save up needs to be saved up. However, you can live off the interest. Likewise, if you have real estate that you aren’t living in, you can make use of the rent that you earn from it. Keep rolling your assets and you will find that soon you will use it as a backup plan, while being able to lead a comfortable life over the earnings you get from it.
- Another great tip is to learn from your favorite mentor. Each person built their empires in different ways, and some of their ideas may suit you, while others may not. Find a plan that goes with your lifestyle, and soon it will become more of a joy to save rather than a burden or something that you detest doing. Make saving fun. While some people love low risk investments and prefer putting their money into real estate, others may find that investing in the stock markets through equity or derivatives is exciting and something that interests them greatly. Do what you love so that you end up loving what you do.