Resumo de Let Me Present Some Rationalities On How To Become Rich

Let me present some rationality on How to Become Rich:
1. MAKE FINANCIAL SECURITY A PRIORITY. The best way to insure financial security is by availing ourselves or our businesses with insurance. Insurance is an institution that would share the financial risk of ones company during times of fortuitous or force major events. Fire, life, accident, retirement, old age and disability insurance are geared towards providing cash and income to those who can no longer be productive. Save for the rainy days, follow the ways of the ants - store your grains during summer for the winter days to come. Another way of having financial security is to buy properties having capital gains and develop it. Touch the interest and the fruits of the capital gains but never touch or withdraw its original capital or investment. Develop and teal the land for productive and agricultural gains but never sell the land itself for financial security. Another concept of financial security is to prepare a will while a person is still alive, it will provide a better management of ones property if he dies. Create multiple streams of income including passive ones to ensure regular incomes from many sources. Depending in one form of source to earn an income is debilitating and risky.
2. SPEND LESS THAN YOU EARN. This means earn more than you spend. Millionaires are people who are bigger than their financial problems, it means living within your means and saving a portion of what you earn to afford a haven for investment in the future. As your income increases your standard of living must remain the same is one of the surest path to being Rich and millionaire. Buy things that will meet your needs rather than your wants. Self gratification in buying things that we desire and want is the only way to poverty.
3. SAVE AND INVEST REGULARY. Remember the three legged stool for one to become rich - earn money, save it and invest in high yield instruments like time deposits, demand drafts, treasury bills, stocks, bonds, mutual funds and marketable securities. He who saves and puts value into his money for future investment purposes will become rich. Make it a habit to save, save, and save regularly then diversify the investment to minimize risk will make a person financially independent and successful in business. Meet your obligations and pay first all fixed expenses and minimize payments to variable expenses. Variable expenses are expenses which could be controlled like public relations overheads, even city services could be controlled, lights off to all electrical appliances when not using to control so much payment for electricity. Do not leave leaky faucets unprepared to avoid over payments to water services.
4. PAY DOWN DEBT. Make money your slave and not your master is the best advice. Do not borrow money since borrowed money becomes our master rather than our slaves. One of the best sign of successful business is when we can meet our financial obligations promptly whether it will be by the millions of dollars or otherwise. Pay down debt and if possible totally eliminate it. Buy goods in cash basis, it is lot more cheaper and cash discounts or rebates are always given when payments are made through cash. You cannot serve two masters at one time as what the Bible says. You cannot be the slave of money at the same time be the master''s of it. Borrow money with a considerable risk taken into consideration and pay the obligations on time. We become the master of money if we can let it work for us, if we can earn income out of the investments that we make. We must treat money just like seeds and as we toil and water it, it grows in an exceeding growth and bears ever lasting fruit. One day we will all end up to be like the Upanishads, as they get and consume wealth, more wealth are still bountiful and abundant.
5. OWN A HOME. Mid pleasures and palaces though we may roam be it ever so humble there is no place like HOME according to Walt Whitn. If you own a home, then you will be the owner of it. You can have it rented as you acquire more houses or establishments. A home provides capital gains to the owners where he could have it served as collateral to the banks if he prefers to borrow money. Above all it provides a sanctuary for his family - a place where love and respect reigns above all.

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