How to guarantee your wealth.

 How to guarantee your wealth. 

The first rule is that you cannot get  wealthy by exchanging time for money.  You know that time is limited, so  trading your time for money means   restricting your earning potential. No one becomes wealthy by selling   their time for money, and a simple check at  the Forbes List of the world’s wealthiest   individuals should clear up any remaining  concerns. 

If you spend money on a business

If you spend money on a business   or project, you can get it back, but  you can’t get back yesterday’s 24 hours. Two of the most important financial rules  are to save and invest consistently,   as well as to practice frugality when it comes to  money, and to pay yourself before anybody else.  The idea of saving the best for the worst  does not work, and you deserve to be paid   first.

 It’s common knowledge among personal  finance and retirement planning experts   that paying yourself first is a  smart strategy for staying on top   of your monthly savings contributions. This approach is based on the premise   that many people are prone to straying from their  savings or investment plans because it’s easy to   get carried away and spend your money on frivolous  things. The golden rule of personal finance is a   term used by financial experts to describe  this guideline because of its importance.

 If you’ve made the decision  to adhere to this guideline,   you may begin by setting aside funds  in a variety of savings accounts.  If you’re saving for a specific goal,  such as a new car or a vacation,   start with a more targeted savings account.  Finally, no matter how small your contribution,   make sure you stick to the percentage of your  paycheck that you’ve decided to contribute   weekly or monthly to said savings accounts.

 Achieve your financial GOALS 

 In order to achieve your financial goals,   you must match the savings vehicle  you choose with your goals. There is a third rule to follow:  the philosophy that less is more.  Too much of a good thing can be exhausting  at times, and this mentality is crucial to a   person’s well-being, so having too much  of a good thing can make them unhappy. For example, having one delightful trip this  month does not automatically imply that having 15   in the same month will make you 15 times happier.  However, consider this thought experiment further. 

There are many reasons 

  There are many reasons why individuals continue  to pursue more, but one of the most common   is that they have a highly busy life and so  have little time, so why do they keep trying?  In studying minimalism, you are encouraged  to prioritize quality above quantity because   of this principle. if you’re intentional in your  actions, you’ll be able to get more done with   less effort. 

In fact, you’ll be able to enjoy more  with less and achieve more with less if you change   your thinking. An great illustration of this is  the famous guideline that reads, “Work smarter,   not harder.” A large part of the quote’s  fame comes from those who use it as an   excuse to be lazy, just as quality is  an important component in the maxim   “work smarter, not harder.” In my own  experience, productivity is enhanced when   one concentrates on the essence of the task  at hand. For example, if you are a farmer,   do you harvest more crops by spending more  time cutting the grass and sowing the seeds? The strategy metric is known as if you don’t  cut wood correctly, the pieces become damaged,   hence it’s easier to double check and cut  correctly than to make the erroneous cut.   This is an ancient technique that is thought to  have been intended for carpenters. When it comes   to measuring twice, it’s not only for carpenters;  it’s for everybody who has a job to do.  

 This guideline can indicate that you create a  plan B if plan A doesn’t work out. as I say,   prepare for the worse and yet plan for  the best so you should plan for the best   It’s important to do research before making any  expenditures whether your idea turns out to be   more or less profitable than expected, for example  Regardless of the specialists you engage with,   it’s always a good idea to do your  own due diligence as an investor.

 Focus completely on your own path as the  fifth rule of thumb Even if you were born as   identical twins, you are still an individual  with your own unique genetic makeup,   so it’s not a good idea to compare yourself to  anyone else. Your opportunities and your beliefs   are not the same, and if you’re lucky enough to  meet someone who shares some traits with you,   that’s even better. There is no time to spend  comparing oneself to others Since a successful   person is continuously attempting to understand  himself and because this may be quite exhausting, 

No time to waste

  There is no time to waste  comparing oneself to others   There’s a lot to accomplish if you want to  attain your goals, and one thing is for sure:   there’s only a limited amount of time to do it,  so you need to concentrate on your own route. Know your value and do all you can to boost it.  The difference between a person’s assets and   liabilities —like the sum of what they own minus  what they owe — is used to assess their net worth.   When your assets exceed your liabilities, you  have a positive net worth; on the other hand,   if your liabilities are greater than  your assets, your net worth is negative.   So why is this important?

 Because your net worth  gives you a snapshot of your financial situation   and serves as a benchmark for monitoring  your financial progress. For example,   you may have a negative net worth right now  because your liabilities exceed your assets.   Alternatively, if you’re already in the black,  you may want to keep tabs on how much money you’re   making. It’s one of the wisest things you can do  and it’s frequently forgotten, but I can assure   that the more you monitor the better judgments  you’ll make when it comes to your finances.. The last rule is to transform fun into money.  

“If you ask me”

If you ask me, earning money doing what you love   is a sure-fire method to experience financial  success. This is because it is almost difficult   to fail when you are enthusiastic about what you  are doing and there is the additional drive of it   paying your expenses. In order to pursue his  passions for basketball and music streaming,   Sean Carter, better known as Jay-z, has  developed a multibillion-dollar company   based on his passions. Today, he is considered  the first hip-hop millionaire. As they say,   practice makes perfect, and when you love what  you’re doing, you constantly want to do it, .

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