I haven’t personally met anyone who has no desire to become wealthy. Although there are a few people in the world who have no desire for wealth, I believe that the majority of the populations want to become rich or at the very least, live a life without financial worries.
The typical person spends majority of his life dreaming and trying to have lots of money so he can buy all the things we need and most specially, all the things we want. But only very few actually succeed and end up being wealthy and financially independent.
The road to financial freedom is certainly not short, straight and paved. However, many have already traveled it and found the beaming prize at the end. There is no single surefire formula for attaining wealth–there are many roads that lead to the finish line and there are many ways to tread these paths. But as for me, I believe that learning from the actions of those who have already succeeded in this endeavor seem to be the best way to go.
Tips on How To Reach Your Financial Goals
I have shared below some tips on how to be wealthy. I personally use these tips to propel myself towards reaching my financial goals. I have put together these tips based on the testimonials, experiences and advice of successful and wealthy people that I admire. I hope you will find these tips helpful in your own quest for wealth:
1. Live well below your means.
This is the philosophy of the world’s richest man–Warren Buffet. Despite a net worth measured in billions, Warren Buffett still lives in the same five-bedroom, gray stucco house he bought in 1958. He does not own (and in fact disdains) any luxury car, gadgets, toys or other trappings of wealth.
The reason he has managed to become the riches man to date is that he maintained his frugal habits even when his earnings increased. He strongly discourages conspicuous consumption, discretionary spending and unnecessary expenses; as he believes that these are the biggest robbers of wealth.
2. Use your time wisely.
You get 1,440 minutes at the start of each day, what you do with them is up to you. If you want to get rich, you must use every single minute wisely. It is often said that the only difference between the rich and the poor is what they do in their spare time and this is true.
The average person uses his spare time sitting on the couch watching TV; while a wealthy man would usually use his spare time checking the stock market or reading the news. If you want to become rich, you must rid yourself of habits and activities that do not make you better or nearer your goals. If it does not make you healthier, wiser wealthier or genuinely happier, then you shouldn’t be spending a single minute on it.
3. Watch small expenses.
It is typical for us to scrutinize those large dollar figure purchases, but often, we tend not to think about the small purchases we make. For example, we would normally spend a great deal of time considering whether we should buy that car that we have been eyeing on; but we would normally give no thought to spending a few dollars on a cup of coffee.
I know what you may be thinking–spending a few dollars would not matter. But most of the time, it is these little unnoticeable expenses that hurt your monthly budget. As Benjamin Franklin said, Beware of little expenses. As they say, “a small leak will sink a great ship.”
If you want to become wealthy, you must regulate all your expenditures and pay attention to every dollar that leaves your wallet.
4. Always believe you can.
Holding a strong belief that they can be rich is one of the things that all rich people share in common. Thoughts lead to feelings; feelings lead to actions; actions lead to results. The starting point of everything is your thoughts. If you don’t believe that you can be rich, then you really can’t be rich. As you journey towards reaching your goals of becoming wealthy, you may come across discouraging situations or circumstances; never let them cause you to lose faith in your aspirations.