Learn more about moneyandinvestments with this collection
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How to get wealthy
You don't need to earn a lot of money to become rich if you have healthy financial habits.
If you want to get wealthy, you need to consider three things:
- Earn
- Save
- Invest.
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The habit of earning more
It is natural to earn more over your lifetime. But a person can only earn more if they learn more. Further education enables an individual to provide more value.
Earning more is like a habit. Every year, we learn new skills and ways that will increase our ...
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The habit of investing more
Consistent investing is essential. Investing as a habit will pay off in the long run.
It is most important to start with earning more, then saving more, then investing. People want to skip the first two steps and day-trade themselves to wealth, but most will only lose mone...
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The habit of saving more
The key to the habit of saving is to save a bigger percentage the more you earn. When you start, you may only be able to save 10% of your income, but it is a mistake to commit to the same amount if you earn more.
However, it's a losing game to only focus on saving money. L...
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"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman
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Wealth In Terms Of Owning Things
Housing should be no more than 30% of your income. Warren Buffett's house is worth .001% of his total wealth.
The possession of things differentiates the rich from the wealthy. Wealthy people don't flaunt their money; they save and invest it.
Think Rich
Becoming wealthy is not about earning more , though earning more might definitely help. Even if you don't earn a lot you could be on rhe path to wealth by having good financial habits
How We Use Money
There is a natural tendency to spend the money we earn, instead of saving or investing. If we watch how rich people utilize wealth, we can learn a lot from them and change our financial mindset.
One has to invest money no matter how less the income is, choosing something t...
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