Knowing how to Be rich and successful and hence wealthy is what everyone is aiming for in today’s word. No one wants to be poor nor to be seen as a poor person, but if you are to go out in the street and ask most of the people if they truly want to be rich in life. You will be surprised how they will look at you and be thinking if you are mad.
Perhaps everyone wants to be rich and successful in life so asking them such questions will make them think if you really know what the entire struggle in this world is all about. But wait a minute don’t give up because of the answers they will give you but rather go back to the same people who are claiming they want to be rich and successful next time and ask them what they do normally with their lives. You will find out from their mouths base on their answers that not all of them actually want to be rich in life. You will be the surprise of what most of these people do with their life all the time.
Also Check what is success the proven definition
Because as the saying goes “Where you are today is a result of what you did yesterday”.
Base on this proverb it is clear that what you are doing today or currently will determine your future. So if you focus on spending all your money today without thinking about investment or savings I guess you know what will happen to you tomorrow.
So will it not be wise that, you find ways on how to be rich and successful in life?
Before you end up being poor or trap yourself in big debt?
Well I guess you should.
Table of Contents
How To Be Rich And Successful 13 Proven Ways
1. Pay Yourself First (The golden rule on building wealth)
Don’t you pay the garment maker for the cloth that you wear?
Don’t you pay the restaurant owner for the food that you eat?
Don’t you pay for electricity?
Well tell me, what do you have to show for your earnings of all your past working days?
You see the mistake that you have been doing here?
You have been paying to all these people and hence making them rich but not yourself. To be rich and successful in the future you have to pay yourself at least 10% of all your earnings. You may think this is small money and how long will this take to be huge. But just give it a try and be disciplined with it and see. The key here is not to just save 10% of all your earnings and just put them under your pillow, no. The key is to be able to invest it so that it may grow so as it interest too. (First secret key on how to be rich and successful)
Check Also:: The Key To Success In Life
2. Do Some Investment
Do you know that most of the well-known rich and successful peoples are into investment?
What do these people know about investment that almost all of them are into it? Well, to be rich, successful, and financial independence in the future, you need to be making some form of passive income. What I mean about passive income is money that you work on it for a specific time and just leave it to grow, and later whether you work on it or not you still get paid for it, and to be frank who want to be working all days of his or her life for a paycheck, No one unless you have been sold to slavery.
So if you did take into action the first step on how to be rich and successful above, then all those 10% of your earnings that you have been saving consider investing it and keep adding to your regular 10% of all your earnings.
Check Also:: 11 Tips TO Make You Successful In Life
3. Cut Down Or Pay Attention to Unnecessary expenses (very necessary if you want to know how to be rich and successful)
Do you buy things that you don’t actually need?
Do you buy luxury staff that you don’t need just to impress others and hence make them see that you also have money?
Well, not the best, if you have fallen into a victim of just spending just to impress your neighbors then trust me nobody likes’s a bragger and hence is not them that you are impressing but actually you are putting yourself in big debt. Just imagine spending all your past year earning in the latest car in town. Tell me how you and your family will survive for the coming month in case you lose your job? It will be hard and tough right?
That is how it is to be spending on staff that you actually don’t need, but may be you will say hey, I only spend on staff that does not require high amount of money.
Well remember, little drops of water make a mighty ocean.
Check Also:: 20 Secrets To Set Your Mindset For Success
4. Acquire Passive Income (4th rule on how to be rich and successful )
Well, I have already talked about passive income in the second step but I think I have to define it again.
Passive income is cash or money earns without you actively working for it or that does not require your time.
There are many forms of passive income out there but I will only talk about a few, investment, a company that you own does not require your time, bonds.
All the above forms of passive income do not require you to actively work before you earn unlike active income which is term as “no work no gain”. So you get the grew here right to be able to live without all the days of your life without working and hence be earning some money does require you to develop or have some form of passive income which you can depend on.
5. Have A Burning Desire To Be Rich And Successful
This should be your first step if you truly want to be rich and successful in life. You must have the guts inside you and be willing to do anything that will help you to achieve your goals. Without a burning desire trust me you will never succeed in life because success does go with failure. So if you don’t have the desire or the determination to succeed in life you will soon give up whenever you encounter a little obstacle or whenever you fail on one move. So be willing to succeed and this desire will remind you to think of how to accomplish your goals.
Check Also:: My Secret of Becoming Successful
6. Focus On One Thing At A Time
The Word “Focus” actually means:
F = Follow
O = One
C = Course
U = Until
S = Success
To be able to achieve a specific goal you need to focus deeply on it and figure out how you will accomplish it. But if you have more than one goal at the same time it will be very difficult to concentrate on both. So you have to focus on a single task at a time and hence if you achieve it successfully you can focus on different one.
7. Build A Network With Rich and Successful People
While is this important. The bible even says’s “there is nothing new under the sun” the success that you are looking for has already been achieved by someone already.
So why should you border yourself on how to achieve the same result? If you truly want to be rich you need to build a network with any successful person you know in your area that you think he or she can assist you. Remember most of these people are willing to offer their advice for free to others, so it is up to you to make the move and trust me if you find one, you will see how easy it will be for you to succeed in life.
This is a life secret tip, no only on how to be rich and successful, no. It Does applies on anything that you want to achieve in the future. If you want to achieve anything new, consider building a network with those who already has it.
8. Get Or Find A Job
Well, becoming rich or succeeding in life with nothing only happens by miracle or luck. But what if you aren’t lucky?
Will you still or keep looking up for a luck or miracle?
Great I guess you should if only you want to be the poorest person ever in this world. But if you don’t then you do need to get a job if you are not doing anything that will help you to achieve your goals. The purpose of work is not to be doing it for the rest of your life. The real fact is to be able to convert that paycheck you earn from working for others into passive income.
This is something that most people don’t know and hence end up working for the rest of their life. Which is a very bad thing?
Check Also:: 11 Ways to Make Money Online in Ghana As a Student
9. Establish your own business
The vast majority of rich and successful people are entrepreneurs. There’s a very limited amount of jobs that can get you rich, but everyone can start a business.
Not many businesses succeed, but in capitalism owning an equity of successful companies is what creates and drives wealth. Ownership and profits are the name of the game in capitalism. And the best way to own a fat share of a successful business is to start one.
The problem is that most businesses fail in the first five years. Only some businesses are successful enough to bring founders enough money for a decent life. Even fewer among many hit fast growth and bring founders real wealth.
Businesses that get founders are usually businesses with disruptive innovation or with a new business model that reinvents or refreshes established industries. And when those businesses go public are sold or payout dividends, they make founders really rich. A special branch of businesses that must be mentioned are online businesses. Today you have the chance to reach millions of customers from your home office.
10. Learn To Budget (5nd rule how to be rich and successful)
Well this was very challenging for myself as I started, nobody told me about budgeting and in the beginning, I was spending just anyhow I like but ones I figure out something over the internet I got to knew of budgeting and trust me leaving on a budget has actually changed my life for the best by cutting down my expenses and also helping me to track where most spend most.
So you learn to depend on the budget to be rich in life. If not $300,000 monthly paycheck won’t solve your problems it will increase it. But if you learn to draw a proper budget for every penny that you earn, you will be wealthy in no time
Check Also:: How to Achieve Success in Life Faster Than Others
11. Build Multiple Stream Of Income
Can you become successful or rich by depending in single source of income?
Well surely you can if only that single source does bring in huge cash regularly. But what if it doesn’t? Then, you do need other sources of income in addition to assist you. You can surely do this at your home by owning a business over the internet.
Do you know any skill that you can offer online or any business in mind that you can establish? If not what about starting a YouTube channel, blogging, sell on amazon, affiliate marketing, or Facebook Ads. These are all platforms that you can make money online with it, so pick the right one that best suits you and start with it.
12. Plan for the long term.
Starting in your 20s, you should be investing in a retirement plan. If your employer has a matching program for a 401(k) plan don’t miss out on their generosity by not contributing. If that’s not an option, look into starting a Roth IRA.
It’s crucial to begin saving for retirement early on, so you can take advantage of the magic of compound interest. And you should also be socking some money away into an emergency fund to protect you and prevent you from going into massive debt if the worst happens.
By saving for the long term, you’ll ensure you’re building a nest egg to see you beyond your 30s. Most people in today’s world that knows how to be rich and successful, always plan for long term goals instead of short term.
Check Also:: Best Success and Money Quotes of all Time
13. Start tracking how many people you help, if only in a small way.
The most successful people I know–both financially and in other ways–are shockingly helpful. They’re incredibly good at understanding other people and helping them achieve their goals. They know their success is ultimately based on the success of the people around them.
So they work hard to make other people successful: their employees, their customers, their vendors and suppliers…because they know if they can do that then their own success will surely follow.
And they will have built a business–or a career–they can be truly proud of. Well Explained here At Get Rich Home