| Complaining
that you do not
have enough money to spend on, not to mention to invest in? |
Get
Rid of Bad Spending Habits And Adopt Wealth Creating Habits |
Create New Spending Habits
Your Money Making Criterion |
Wealth Creating Habits of Successful People |
How Can You Start The Habit? |
| Anything that increases in value over
time. |
- Rich people buy luxury last.
- They are willing to save their money so that they can invest it wisely.
- They develop financial goals for themselves by making a note of how much they want to save each month and how they are going to invest their savings.
- They take time to learn financial
jargons so that they can understand about the kind of returns and risks
they could face from the investment they are interested in.
|
- Experts agree that it takes twenty-one days to
get rid of a bad habit and form a new one. However, in order for the
behavior or action to become a routine, it must be done daily over a period of twenty-one consecutive
days.
- Make an effort to look into ways you can
save some money by changing your spending habits.
- Are you always buying that "something extra" that you can live without?
- Clearly declare the habits you would
like to change or adopt.
- Get your friends involved to remind one
another of the new objectives.
- Consistently build up those "wealth creating"
habits and you will soon have a tidy sum
saved up to invest in.
|
| Anything that
that will help you save cost over time. |
- Look at
cost-effective ways to meet their objectives and goals.
- They would rather
do away with inefficient processes by applying the right tools even if the
initial cost is high.
- They look into long term profitability.
|
- Think of cost savings also in term of time
and energy eg, would you rather slog
on a typewriter when you can be more productive working from a computer?
- Before you decide to buy any appliances or
use any services consider if they can help you save cost, time or energy.
|
| Anything which you can add value and resell. |
Do not look for short-term pleasure with no long-term benefit.
· |
Before you take out your credit card and buy that something new or trendy, ask yourself:
- How long will it hold my interest?
- If I want to give it up, will I be able to resell it at a profit?
|
| Something that you are passionate about but will give you more money in return than you put in to acquire it. |
- They follow the right people by seeking mentors in people who are already successful in the field they have interest in.
- They are willing to listen and apply what they have learned to help others.
|
If something fascinates or interests you, start doing a research by browsing through websites, reading books, and talking to experts. Find out:
- If it is a field that you can invest in,
and if so, how?
- What are the risks involved? Does it meet your acceptable risk limits?
- What are the initial monetary requirements? Does it require a huge up-front investment?
- Do not just read and maul over it. If it is something that
you are passionate about, start small and experiment on the investment idea.
- Example, if you enjoy
collecting limited edition coins, do a research to decide what you can
afford and would like to collect.
Buy some and keep them over a period of time.
Now and then check on websites like eBay to see if your
collections are sought after. If
you are able to sell them at a profit margin acceptable to you and
which will enable you to build up your collection, you have started
making your money work for you!
|
| An Intangible Way to Wealth |
Wealth,
The Feng Shui Way |
bravenet.com