Do you want to get out of the galley and earn enough money to never run out of it, go from poor to rich? To achieve this goal, there are dozens of different routes. They will depend on you, your personal situation, your will and the plan you will follow. Does that seem complicated? The good news is that there are almost mandatory steps to get there. Knowing them will optimize your trip. Here are explained in the simplest possible way the 10 steps to go from poor to rich.
In a story, there is always a beginning, a middle and an end. Each of its parts has elements that must also be placed in a specific order. If this order is not followed, history loses understanding. For example, in the cinema, if the hero performs actions without being given the reasons (without knowing his "objective" therefore), you will have trouble understanding the film. Does that seem obvious to you? But are you doing it for yourself, for your life or for your financial future?
And yet, when it comes to finance, financial independence or "wealth", it's exactly the same thing. If you don't have a plan, you can easily get lost. Going from poor to wealthy can only be done through a succession of steps that are linked to each other. So… follow the guide:
STEP 1: TO GO FROM POOR TO RICH, YOU HAVE TO HAVE A GOAL
It may sound silly to say but, yet few people go through this phase. Even if it may seem a little futile, it is essential to know where you want to go to be able to go there, right? So think about what you want to achieve first. What do you really want? Do not limit yourself to "I want to go from poor to rich" because it is too general and too vague a goal. No, try to define it precisely. It can be a monthly salary to be reached, an annuity or a capital to be obtained, etc. Your goal should be both ambitious but realistic. Then, during your journey, it can be readjusted or reviewed. At the same time, ask yourself the question of "why" you want to achieve these goals.
STEP 2: MAKE A FINANCIAL SITUATION
Knowing your destination is not enough. You also need to know where you are leaving from and what you are leaving with. The financial inventory is used for that. It will allow you to see exactly where you are, what you have and allow you to gauge the way to go. It’s a bit like having your car checked before a long drive. By regularly taking stock of your resources, you will also see your progress on the journey, the stages that you have crossed and those that you still have to go, so you will know exactly where you are on your journey which goes from poor to rich.
STEP 3: ELIMINATE DEBTS
Do not expect to achieve financial freedom or independence if you are in debt. At least debts other than those that are investment related (that is, other than those that save you money). All your credits must disappear in order to have the clearest starting budget possible. Clean up your finances and the essential step to start your journey to wealth. Otherwise, it would be like wanting to go around the world with a vehicle with a tank pierced.
STEP 4: EARN SUFFICIENTLY TO COVER EXPENSES
This is the logical continuation of step 3. Once the credits are eliminated, you have to make sure that what you earn covers all of your expenses. This stage involves adapting his lifestyle to his income. In fact, many people live beyond their means and simply cannot develop their heritage (or very little), thus not being able to evolve from poor to rich. Step 4 and therefore a transitional phase which emphasizes spending control in order to gradually lead you to spend less than what you earn. It is also one of the most important steps because it will lay the foundations for all your future progress
STEP 5: WIN ENOUGH TO COVER EXPENSES AND BE ABLE TO SAVE
As soon as you manage to spend less than what you earn, the excess money is set aside. Even if you save little, for lack of means, the most important is to do it regularly. From this moment, the machine is started and time and regularity will work in your favor. Obviously the objective is also to save effectively so that this "woolen sock" has the highest possible return.
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