February 22, 2017
SIMPLE EQUATION IN MONEY TO BECOME RICH
Getting rich is very simple, a lot of people can't become rich because they are making it complicated. being rich is all about how you feel, it is all about enjoying the feeling of having a financial security and providing your family their basic needs. Everything else is just additional.
The equation is this: THE MONEY THAT IS COMING IN SHOULD BE GREATER THAN WHAT IS COMING OUT.
Very basic and very simple, if you want to become rich then you should not spend more than what you can earn. You should be focused on saving money and trying to make it grow every now and then. You don't need a major degree for this, you don't need to have a master's degree. All you need is a simple logic and the discipline to save money as much as you can. You don't even need to have a very strong business or a passive income that will give you a lot of money. All you need is having the commitment to grow your money and enjoying the process of doing it.
Once the mindset of growing your money is there, once the love for making your financial status always stronger then you will be alright. You are on your way to becoming rich because you're already rich. Once you have a mindset of a rich person then you're already rich even though the money is not yet there. You will find more ways how to grow your money little by little, you will have a lot of fun seeing your bank accounts multiplied as the years go by. It is a slow but sure process.
It doesn't matter if your salary is only small, the most important thing here is following the equation, the money that is coming in should be greater than what is coming out. Poor people, once they received their monthly salary, they will immediately consume a lot of things that they don't even need. There are no excuses here, you can budget your money and follow the equation if you really want to become rich.
If you were able to save $30,000 you should not buy a $15,000 car or even a $10,000 car. Remember that your objective is to make your money grow and not to spend it. You can only buy luxury things if you feel that your financial status will never be affected by doing that.
It's all about how you feel, you should be addicted in saving money and making it grow rather than having a habit of spending it all once you have some.
Be humble and don't be flashy, people who are in debts loves to buy things that will make them look rich, only to find out that they don't need to buy those things. They will only learn that their decision is bad once they don't have anymore money to spend.
My mother and father were my idols, they were not in a hurry to become rich, they just save and save money as much as they can and when they have enough money... they use it to build apartments. They were not business moguls, they don't know anything how to become rich. They only do the basic stuffs and look at them now... they were financially stable and they don't have any debts. They can relax all they long without having to worry about money.
If you are only smart to handle your money and stop buying useless things then you will become rich one day. It is not a one night process, but it is a sure process that will give you a financial freedom. No excuses here, if you need to endure a lot of things, if you need to be a little bit hungry because of saving then do it.
All you need to do is be happy with the little growth that you are having in your money savings and always follow the equation... you should keep more than you can spend. Everything else will follow, riches will be attracted to you. And also, stop being envy with other people who are buying what they want, those people are broke deep inside, you are not one of them, you are rich because you are in the right path.