How To Be Rich Quick

When money gets tight the majority of people either cut down on spending or rebel by spending money they don't really have. A mistake that some of my friends and I made when we first started practising positive thinking was to believe that if we spent and thought positively, the money would come. Wealthy means that you don't have to spend every moment worry about how you are going to have money to grow old with.

In order to be financially free your passive income (income you don't need to work for) needs to be greater than all of your expenses. This will increase your income as well as open new ways to start home based business. If you know how to get rich, and you may know more than you think already, you can make good returns by investing in real estate and the stock market, with limited risk.

If you want to be financially free then you need to know the difference between assets and liabilities and you need to buy assets. But there are ways you can legally minimize your tax payments so that you can have more money to invest and you can become richer quicker.

If you looked at an annual financial statement you would see that we sold $ 1 million dollars of Widget A and made a 10% profit of $100,000. In my opinion, there are two categories of people that would find wealth creation and making money a difficult process.

So it is important that you learn to budget for a surplus so you can constantly have more and more money to invest. Based on my understanding, I started investing a certain percentage of my monthly salary in buying assets. So next time you say 'I want to be rich' don't leave it at that - instead follow these steps below and who knows one day you might even become rich.

1.) Wealth Building Mindset Change - It all starts with you, and your thought process may have to change a little. A lot of people fail to become rich because money gets taken out of their pocket as fast as it goes in. One of the biggest expenses in your life will win prizes be your taxes.