It will surprise you how many ways there are to get rich. Question is which one would most likely work for you. Among all the possible ways to put an extra million dollar on your savings account, here are the 5 methods which will most likely make that dream of yours come true.
1. Inherit it. While not all of us are born with a silver spoon in our mouth, this is probably one of the easiest ways to get rich. The problem is only 5% of the total population is rich. If you were born in a wealthy family then you should consider yourself lucky and possibly the envy of many. This leaves 95% of the population competing with each other for a chance at getting rich.
2. Save Money. One sure way of getting rich is through saving money. Most people’s formula for this is income minus expense equals savings but I say it should be income minus savings equals expense. You never spend more than what you earn. You need to first set aside a certain portion, say 20%, of your income to your savings account that you’ll never spend. Do this every pay day and notice your savings grow.
Another way of saving money is to make a budget. Create a monthly budget which will cover all your expenses and still be able to set aside money for your savings.
You can also go as far as cutting your other expenses. If it doesn’t really hurt that much to not have Starbucks every morning then that’s something you can do without. Imagine how much a designer coffee would cost you in a week and how much it would save you in a month. That saves you a good amount of money.
3. Work Hard for it. This method requires a lot of planning and decision making. It starts with excelling academically. Most, if not all, people who did great in school become highly employable and are offered better pay. Once you get that job you’ll need to work your way up. Stick with your job to get the experience that you need to advance.
If you’ve stayed long enough don’t be afraid to change jobs and employer. This is one way of increasing your pay. If you are considered to be a great asset to your company, they would most likely offer you an increase or additional benefits to convince you to stay.
4. Marry a Millionaire. Another easy way to get rich, especially for the girls, is to marry someone rich. This is common to people who doesn’t see the first 3 ways to work for them. If you’ve been getting compliments of yourself being attractive, you can use that to your advantage. Work with what you have and maximize your resources as what others would say.
5. Start your own Business. This has got to be the most effective and proven way to become rich. If you have identified a certain need for a certain service or product, find a way to effectively provide that and make money out of it.It may take you years to succeed but this is how most stories of today’s business tycoons started.
The good thing about putting up a business is that you don’t have to be good at everything your business requires. You just need to find the right people who are good at what they do and have them do the job for you. When you are an employee you give out 100% of your effort. When you’re the boss, it’s 100% multiplied by the number of employees you have that’s being put into your business. Not to mention the part where you get to be the boss and call the shots. You get your freedom right from the start.
So which method would work for you? Whichever way you choose, make sure to start early. The earlier you start, the sooner you can harvest the financial rewards you seek. Start now.
” There are people who have money and people who are rich. “ – Coco Chanel
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