Top six strategies to become rich:
First of all thanks for landing on this article, if you want to know how to become rich in your life then I am glad you are in the right place. I want to aware of one thing that nobody in the world has become rich in one night. One cannot become a millionaire by just winning lottery ticket, playing casinos and all like that. Becoming millionaire/billionaire is a long-term race that anyone can win but to do that you have to follow these six strategies which tell you how to become rich.
1) Set your goals
In today’s world, everyone wants to become rich but maximum of them (98%) are demotivated in the middle and change their goal. If you have decided to become rich in life then do not change your goal in the middle, I know that there some conditions arrive which force you to change your path. At that point of time, you have to face that condition and should concentrate your goal.
2) Say no to toys (cars, bikes, expensive things)
If there is no need, always say no to toys (toys here means cars, bikes, all luxurious things). If you require a car or bike to move from place to place then always buy the cheapest one possible. The fourth wealthiest person in the world Warren Buffet always drive the cheapest car buy cheapest clothes and saves money, he puts that saved money into investment. He is one of the successful investors in the world. He has not even changed his old construction house with the new one as he always wants to save money and he puts that saved money into investment.
3) Save money – make assets
Saving the money cannot work alone to make you rich but how you use that saved money will make you rich. If you save some money then use it to buy some assets (like a small room/house/vehicle which you will give on rent). It will give you money even if you are not working. Assets play a very important role in becoming rich. You can take an example of any millionaire, he/she definitely have assets.
4) Make free time as productive
I told you that if you buy some asset then it will give you money even if you are not working. But wait! Why are you not working in your free time? Do some job either small or big OR open any small business which will give you money as extra income. So now you are making money from both sides – one from the assets and other from your job/business.
5) Investment in FD’S
Never put your saved money in home lockers rather invest it somewhere which gives you return. Create FD (fixed deposit) in a bank which doubles your saved money every year. Money saved in your lockers will not give you anything so invest it in FD’S and take good interest in that money from the bank.
6) Avoid debts
Last but not the least is that you have to avoid debts. If you avoid debts it means you are avoiding paying interest on the principal amount. Paying interests make a person financially weak day by day.
These six strategies are also followed by the Warren Buffett who is the fourth wealthiest person and one of the most successful investors in the world.