How to Get Rich: Personal Finance Advice

How to get rich is simple. Getting rich has its foundation laid on Financial Planning. A financial plan should not be based on “How to Get Rich Quick” but how to get rich slowly and stay that way.

In this wise, you need to Pay Yourself First, after you have given God His. Save! Wealth flow from savings not from income. Save at least 10% of every money that comes in to your pocket. Over time, it is going to become a substantial amount, which can be invested in safe-interest-bearing instruments. It can also be used as a capital to start a business, or in building a house for rent, and many more. The main purpose of saving money should be to invest the money saved. Saving in itself can never make you wealthy, it is what you do with the accumulated money that can. Savings are used for investing and creating more money, not for paying bills.

The Key to becoming a self-made millionaire is longtime perspective combined with an ability to delay gratification in the short term.

REFERENCE
The Wealthy Barber by David Chilton, summarized by Edward Trapunski.
Poor Dad, Rich Dad by Robert Kiyosaki, summarized by BusinessSummaries.com, 2001.
21 Success Secrets of Self-made Millionaires by Brian Tracy.

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17 Comments

  1. Delaying gratification is the biggest challenge. Human beings have a blind spot when it comes to seeing the harvest in the seed. Even if they manage to see it, the pain of waiting often overcomes the joy that lies in the future. Only the disciplined can afford the virtue of not eating their cake and not having it now. Amazing post!

    Liked by 1 person

  2. Thank you for this. I’m going to go ahead and read your other posts on this subject in the coming week. This topic is one in which I’ve been seeking more guidance and wisdom. Unfortunately, I feel that too many people (including myself) were not taught much in this area and picked up bad habits by watching the way family members handled money.

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    1. I think this is good for Christians and the hravenly- minded. In Heaven, faith is the currency, while on earth, money is one of the measures of success, and if well handled will facilitate our making heavens. May the Lord answer all our prayers and grant us peace all-around. Thanks friend!

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