3 Ways To Become Rich!!!

Ok so there are hundreds and thousands of mails you get, and a similar amount of books stating ways and means to get rich, right from the hilarious “Get Rich in 30 Days”, “Think like a millionaire”, and some really good books like “Rich Dad, Poor Dad”... While I don’t claim to have read as many books to write one myself or to become a critic, I can definitely say the following principles hold true in most cases, and if you are able to stick to these 3 rules you can in fact become a money source rather than a money sink.

1. Ask yourself “Can I live without this?”
Spending, if you can curtail this practice is an ancient wisdom hard written by the old adage “A Penny Saved is a Penny Earned”. Before you get into any sort of spending, and ask yourself 3 times (5 if you consider yourself an impulsive shopper) if you really need to spend your hard earned money on the object of desire. If the answer is even a weak ‘NO’ it will do you no harm on refraining to spend on the specific object.

2. Make your money make more money
Having money is of no use, money should effectively be used to generate more revenue. A rupee in your pocket will be of no use unless u either spend it on something that brings u more if not an equivalent value or u invest it in one of the many ways to make it generate more money. This is a secret few have ever managed to fathom, but look at someone like Warren Buffet or any other big wig; they stop working for money while being effective at making their own money make more money.

3. Manage your Money
Most importantly, if you cannot manage something if you cannot measure it. Measuring your input and your output is critical in order to be able to make decisions easy for the above 2 questions. Say you need to buy a watch; “Can I live without this?” (Question 1) will possibly depend upon “Do I have spare cash, after I have invested as much as I needed to this month?” (Question 2) for this it is imperative to know where your money is parked as of right now. There are various tools and techniques to do this. For the most simplest of things a mere paper and pencil would do, but to be exponentially effective in the long term you can make use of software that at the touch of a button tells you your exact details of spending, and investments.

And in case you are able to stick to the rules, continuously and consciously sticking to them will only become easier. So are you ready to Grow Richer?

P.s For more information on how to better measure and hence manage your money, search for Onyem in google

By: Onyem

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