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Tags: finance, wealth building, wealth building
 You may not have been given the privilege of being born rich, like the few elite around the world, heck you may have even been born poor, like plenty everywhere. But things don’t always have to stay that way. Wealth building isn’t for the rich crowd exclusively, but it was meant for everyone regardless of financial status.
You don’t have to be rich to get rich; all you need is a “strategy” to get you a ticket to financial freedom. There are plenty of wealth building methods that can get you an abundance of cash flowing into your pocket, and today I’m going to share one in particular that anybody can start trying now.
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Interested in finding out what it is, my friend? Then start reading here: 1st wealth building step would be to “pay yourself” – what on earth do I mean by this? I’m trying to hammer the message of “saving” part of your income. Now you’re probably thinking that it’s an easy thing to do, and that you already know that.
Before you get thoughts of doubt running through the backs of your mind, here’s why people saving and saving don’t get anywhere with their savings: they aren’t saving enough, taking what they have left, and play the money game. Now, the amount you have to be preserving should at least be a good 10% of what you earn.
That’s the amount you must be “paying yourself” or stashing each month. Moving on with the discussion, take what that 10% and allow it to accumulate. The power of accumulation is often underestimated. There are plenty of impulsive buyers out there saving money and using it to buy things that aren’t necessary – don’t be that kinda guy.
Popping cash as if it were candy is a big no-no when it comes to wealth building. These kind of things “hinder” the cash flowing into your pocket, and are popularly termed as liabilities. Liabilities are the good such as cars and such that require you to set aside a percentage of your monthly income in order to maintain or continue using it.
Here’s what you should be doing: investing the dough you’ve accumulated in a median or asset that gives good returns. That’s putting your cash to good use, and ultimately expands your income (increase buying power), which is the true essence of getting rich. Investing in more medians (that work) increases your income, investing in liabilities slows it down.
Never buy the latter unless you’ve invested more than enough in the former. Doing things that you like which revolves around the skill set you’ve got at presence, is always a good thing as well. Loving what you’re doing to earn extra bucks is the proper mind set you've got to be having when it comes to making money.
Eventually, when you’ve finally stabilized and have a steady and strong flow of cash, you can play the money game (like investing in the stock market). This is the game you wanna play if you’ve plans on increasing your income exponentially. But before you do, it’s best you educate yourself on how to play the game to win.
About the author
The author of this article Rick Goldfeller is a successful underground Financial Analyst who has been advising and coaching individuals for many years. Rick recently published a book on how to manage your money and attract Wealth and Financial Freedom. More info on his Finance Planning course is available HERE.
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