How to Get Rich || TIPS TO GET RICH

Do you dream of becoming financially independent? Probably, like the vast majority of the population.

However, where are you in your life, financially speaking? Are you on your way to financial independence or are you more dependent on your next pay check to pay your bills?

Sadly, according to a survey conducted by the Canadian Payroll Association (CPA), 59% of workers say they would experience financial hardship if their paycheck was handed out just one week later. In the case of single-parent families, 76% of them say that they would have difficulty meeting their financial obligations if their pay was late.

wow! Can you imagine the pressure these people have to go through every week? Can you also imagine the conflicts and bickering between couples that the lack of money can cause? I don't wish that on anyone.

First of all, what do we mean by "rich"? In reality, the notion of wealth is very subjective, and we could not discuss the subject without telling you about this reality.

Concretely, everyone can have their own wealth goal: it's not necessarily about driving in the most beautiful cars or retiring now, quite the contrary! Some may consider themselves wealthy enough if they live comfortably without wanting for anything, and have the opportunity to indulge themselves frequently. Everything also depends on his daily working time: working little - or not at all - and earning enough money to live happily, isn't that a certain form of wealth?

To determine the level of wealth of a person, countries like France are based on the income and the value of the heritage. This method of calculation is correct, without being perfect: debts and expenses are not taken into account.

So how do you avoid living paycheck to paycheck?

Here are tips for getting rich.

1) Make the decision to get rich

The main reason people are poor when they retire is that they never made the decision to become rich. So make that decision now. In life, we all have a choice: to be poor or to be rich. Money may not bring happiness, but it takes the pressure off us and contributes to a good mood.

2) Pay your debts first

He who pays his debts gets richer. Immediately stop spending money that you do not already have in your possession. For example, never put a trip, show tickets, or dinner out on your credit card if you don't already have the necessary funds in your savings account. In addition, saving to buy something will give you a greater sense of satisfaction.

3) Pay cash

If you do not have the discipline to pay your credit card balance in full every month (interest rate at 18%), pay for your purchases with cash only. You'll realize much more value for money and spend less, guaranteed!

4) Look for deals and shop before you buy

As you've probably already experienced, two or three phone calls can save you hundreds of dollars on car or home insurance. Last week, for example, thanks to a few mouse clicks on the Internet, I saved $515 on the purchase of a new MacBook Pro (laptop).

5) Buy used

Do you absolutely have to buy new? Here's an interesting stat for you, 80% of millionaires drive second-hand cars. Not because they can't afford new, but because they know that a car is not an investment and loses about 40% of its value in the first two years.

6) Negotiate

When it comes time to buy anything of a certain value, always ask for a rebate or discount. The worst the seller can tell you is no. Imagine how much money you would save in your lifetime if you were given a 20% discount every time you asked for it. In the case of a house, the savings you will make can amount to tens of thousands of dollars.

7) Set up a system to save money automatically

Ask your financial institution to automatically take 10% of your net income every month and invest this amount in some investment vehicle for you. Do this for 25 or 30 years and you will become a millionaire automatically and effortlessly.

8) Increase your value

Money is only a measure of the value of the service rendered. Simply increase your value and the company, that is, your employer or customers will be willing to pay you more for the work you do. How to increase your value? Make continuing education a priority in your life. Read books, listen to audio training programs, and hire coaches to help you reach your goals. No one said getting rich would be easy.

9) Have multiple sources of income

The wealthiest people in our society don't just have one source of income, they have many. Ideally, your additional income streams shouldn't take a lot of your time and should generate income without your physical presence being required. This may be, for example, income from investments, a transactional website, rental income, etc.

10) Invest your savings in assets rather than liabilities

An asset earns you money and its value increases over time. An apartment building for example. A passive costs you money and its value decreases over time. A boat for example.

About 80% of millionaires are self-made. They started with ambition, energy and discipline, nothing more; that is, with the same thing that we have, you and me. Make an immediate decision to get rich and stop living paycheck to paycheck. The key factor in your future financial success has nothing to do with the economy, but rather with your philosophy.

Here are the 5 good habits to adopt to succeed in getting rich:

1) Learn to be well informed

You don't get rich overnight. For your income to increase and your financial situation to be favorable, you must make the right choices, put in place appropriate strategies and think about the most relevant solutions in your particular case.

Before creating savings, launching your business or even signing up with a new, less expensive insurance policy, systematically get into the habit of keeping yourself well informed. Anticipate expenses, know all the consequences of your actions, read "the small lines" of each contract. Never make hasty decisions, but think carefully about the logical consequences of each initiative.

2.) Dare to take some risks

Most people who have become wealthy have had to step out of their comfort zone to find success. The success of a new business often depends on innovation or the creation of a need for consumers. Steve Jobs understood this when he designed and produced the very first smartphone, the iPhone, and the first touchscreen tablet, the iPad.

Knowing how to take risks by going after your ideas is one of the particularities of many wealthy entrepreneurs. In this way, like Steve Jobs, some of them became millionaires and then very young billionaires: Jeff Bezos (Amazon), Bill Gates (Microsoft) or Mark Zuckenberg

3.) Have a healthy relationship with money

How you think about money shapes your financial future. If you really want to get rich one day, have a healthy relationship with money.

First of all, don't be jealous of those who have a lot. Envy them, but without falling into negative faults which will become obstacles to your ambitions.

Then, keep in mind that anything is possible: making a fortune is not necessarily beyond your reach.

4.) Pay off your credits (and limit them)

As you probably already know, borrowing costs money. So, as soon as you manage to make some savings every month, start by using them to pay off your debts. Do not hesitate to increase the amount of the monthly payments to complete your loan contracts more quickly, and ultimately save money.

Thereafter, use bank credit as little as possible. Naturally, in certain cases such as that of a real estate purchase, you have no choice but to spread out the expenses. On the other hand, do not be tempted by the payments in installments that you are offered for classic consumer goods: it costs more in the long term. In addition, this practice makes you financially dependent, which you absolutely must avoid if you want to get rich.

5). Solicit as many sources of income as possible

Once you have fully grasped your potential, you know what can bring money among the different activities that you like to do, and that you have complete control over.

As soon as this awareness is made, you must take action, and mobilize your qualities to multiply the sources of income. Try to have at least three sources so you don't end up dependent on just one.

It's not necessarily your talent for web design that will make you rich. Nor even your habit of giving English lessons, or your DIY services rendered to the neighbours. On the other hand, if you combine all these small activities together, you will see your monthly income gradually increase. It is often said that “small streams form large rivers”: take inspiration from this quote to exercise as many activities as possible and enrich yourself!

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