When you read this title I’m sure you thought that this whole article was going to be about budgeting or something similar. Well rest assured because the way to wealth is not through budgeting. We would all like to be part of the wealthy population, but are always turned-off by the idea because it seems impossible and full of restrictions. People don’t usually like certain restrictions, and that’s why most of them don’t do very well on budgeting plans. I put together the true steps to becoming wealthy – no restrictions included!
You might think the wealthy could go out and buy things just because they can, you know buying on impulse since they have millions to back them up. If they did do that whenever they ‘’just felt’’ like it, they wouldn’t have those millions to back them up for very long. The wealthiest are exactly that because they know when they can buy on ‘’impulse’’ and when they can’t. The beauty is in balance. Just because they have millions doesn’t mean it’s all extra cash. The more money they have the bigger the bills, investments and saving plans. This outlook on money whether it being a couple of thousands or a couple of millions can always be applied.
Not Giving Up Things
Let’s be honest that expensive latte you buy before you go to work, isn’t going to make you any richer or poorer. But it will make your morning more enjoyable. Life is all about the little things. Don’t give up what you love, it’s what’s making you happy. Imagine you did give up every single little luxury. That morning coffee, occasional eating out, going to the movies or buying yourself a new pair of shoes you’d start to feel frustrated. Then binge spending occurs. You get so sick of restricting yourself you go out and buy something more expensive than everything above to ‘’make up’’ for the ‘’sacrificing’’. So as you can see occasional spending keeps you and your bank account happy!
If you’ve got money to buy that very expensive and exotic car, does it mean you have to? Most of the wealthiest people don’t buy million dollar houses or cars. The live below their means, not because they have to but because they want to. That is one of best ways they secure their wealth. Money is easier to spend than it is to earn. Do you really need a new TV that costs 500$? Or could you buy one worth 250$? And use the rest of the money to let’s say put away for rainy days?
The wealthy seek alternative investments and alternative money management. Such as life insurance and annuity products. Even hedge funds. These all turn out to be very profitable the savings can end up being in hundreds of thousands of dollars—sometimes even millions, in tax savings over the years as the assets are distributed and the wealth is transferred to future generations. That is very smart investing and putting money in the right places.
These are the true steps to living a wealthy life, one filled with financial security and success. Follow these simple but efficient steps and you will never have to worry about money again.
Here’s one extra bonus last step.
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