I wrote an article previously on some reason why most people remain poor due to their lack of understanding of the rules of wealth and lack of financial literacy, if you missed the article, you can find it here.
Today I will be discussing 3 simple fundamental rules in which any one can follow to become wealthy and attain financial freedom.
1. THE FIRST RULE IS; MONEY REWARD PRODUCERS; majority of the world’s population are consumers so to be ahead of your game, you have to learn to become a producer. Look around you and ask yourself “what do people around me really needs”? “how much of such product/service do people really need” once you are able to find answer to these questions, then you are already one step closer to attaining financial freedom. Money is simply the harvest of your production so if you are planning on earning thrice as much, of what you are already earning, then you should be ready to work thrice as much. You must make sure that people value your product/service because when it comes to production, you must look for a new way to add value at every point of production. Always remember than whenever you work more than you are paid to do, then you get paid more than you do.
2. THE SECOND RULES IS THAT MONEY REQUIRES RESPONSIBILTY; for instance if you learn how to take care of $500 and use it to it full potential, then the world will reward you with $5000 and even more. So if you able to take care of small amount, then eventually a bigger amount will come your way. If you have different income stream, you must learn to pay attention to each of your income stream, always remember that money requires great deal of attention. When it comes to money, you have to realize what you are doing, who you are doing it with, when you are doing it and most importantly why you are doing it.
3. THE THIRD AND THE MOST IMPORTANT RULE IS; LEARN TO TAKE RISK. Wealth is a direct reward of risk and hard work. So if you are willing to do what 87% of the population are unwilling to do, then you will be rewarded with what 87% of the population are wishing to get. I’m not saying you should go ahead and take unnecessary risks. Always take calculated risks you should be very scrupulous and astute when taking risks. Money requires someone that is brave. Money requires someone that is willing to take risks. It’s always better to try and fail than not to try at all. Don’t hoard money and don’t hold it fearfully. If you don’t make cautious and logical decisions about your money, other people and external forces will make the decisions for you. So always put it at the back of your mind that the only reason for saving money is to invest, but that does not mean you should not have an emergency funds. If you are well invested, you will always have enough money in circulation to take care of unforeseen circumstances.
image source; google.com
Thanks for reading my article and I hope you find it useful don’t forget to leave your opinion in the comment section.