Updated: Apr 5
Wealth building can look impossible and stressful to a lot of people especially people who want to spend on what they want and crap instead of just want they need!
There is a huge difference between what you need and what you want!, an example is you need to eat but you want to eat Chinese food. So you can need to eat to have energy and all but you want is a choice which most likely you can do without!
7 ways to build wealth faster in our society
Your living expenses must fall/drop
Dropping your living expenses is a great wealth builder because it focuses on your saving money and earning more.
To be honest you cannot invest unless you have money to invest. Living beyond your means and having no additional money to put to work on you or investment will never build your wealth.
Saving on Vehicles and saving a percentage your income
Having a vehicle without doing research firstly can be the biggest mistake you ever made and it will never make you save that percentage of your income!
Many buyers are so eager to get through the journey of buying a car without finding out everything about the vehicle's price, finance and reliability.
Car loans come with huge ridiculous interest rates that nobody should have to pay and remember you need to save a percentage of your income for the future or just into a business venture.
Don't buy things you don't need!
We shouldn't be buying things we don't need or crap things that will not benefit our process of building wealth. Ask yourself what you really need not want.
Do you really need that expensive holiday trip or car, or doing that event celebration!
You need to have money to make money! Well I guess your next question is how, when I don't have money so how can I earn money!
Infant, the power of the mind is a very big too, when you say that you don't have money you have already decided your faith. Failure is first created in the mind!
Change your mindset and believe that you can find a way to make much money, invest on people, invest on talents, build your network and work hard and you will be amazed with the rewards.
Start to plant that seed of success in your mind.
Work hard now that you can!
Remember when you still have the mental and physical strength use it for your advantage now.
Improve on your work ethics and even if you have a job you don't like give it everything that you have got!
Start from your early age or youth and work hard and you will find doors of opportunity open to you.
Remember to work towards having a franchise, that's the only way you can remain relevant in the market, stop looking for quick fix it only last for a while. Build your empire!
#Invest in yourself
Invest in your health, buy books especially on wealth creation, entrepreneurship, pay for coaching programs and seminars, develop your mind, what a man thinks all day long is the reflection of him.
Take that risk
Venture into entrepreneurship, take that risk and start building wealth, a risk taken is better than a risk not taken at all.
Please visit forbes.com on ways to build wealth faster that your financial advisor might not tell you!