The word “millionaire” defines a lot of meaning in every individuals. It requires a lot of patience, discipline and savvy moves to becoming a millionaire. If you search in the internet, there are a bunch of ways how to achieve to be a wealthy person, the results would be overwhelming in such a way that you don’t know where and how to start. It simply because you cannot justify the situation in life of each and every person.
This is my simple steps of how to achieve your financial freedom:
1. Set yourself a specific goals.
This is your everyday mind setting and a necessity to becoming a wealthy person. Wealth is just a reward of things that you’ve worked for. You should do something to reach your goal, and it started with your own thinking, your vision and your goal.
Once you have your goal, hold on to it no matter what happen. There are people who experienced discouragement a long the way and most of them just giving up their goals in life, some of them tried a different type or tempted in another way of thinking. Some might get convinced from other friends
2. Develop your Expertise.
Most of the millionaires/billionaires around the world has its own expertise and some of them are college drop out. I’m not saying you don’t have to go college because knowledge is one of the assets to achieved to get wealthy. To know your expertise you must ask yourself of what is the things you love to do in life. You must develop your expertise, gather more information for improvement. Some are Lawyers, Doctors, Engineers, Architect and many more.
Once you’ve mastered your skills and expertise try to acquire other field of information like for example in digital world, graphic designing, web designing or programming.
3. Build A Business.
Doing a business needs a lot of business plan ahead. Step number 3 is very important ingredients to start a business. Here are some ways to process and simplify getting with your own business.
- You must have a business plan.
- How much is the start up capital.
- Work on your business idea.
- Network with people or get your website.
- Gather feedback.
- Address all customer’s comments and suggestion.
It may have more ways to build your business but the bottom line is your “PASSION” to do the business.
Continue to study your business outlook and always have new strategy on how to attract more customers.
Always find ways to offer what people want to buy, not just what you want to sell. If your customers are looking for something that you don’t have, just ask the customers contact number and do your best to find that item, call them once you have what they wanted.
4. Save and Invest.
Many people don’t understand that saving money and investing money are two different things. They have different purposes and play different roles in the long run in your financial balance sheet.
People who make a habit of saving regularly, even saving small amounts, are well on their way to success. That habit will be develop until he/she will grow up. There are different types of Saving money and there is only one place to go for saving it, “Bank”. It offers the following:
- Regular Saving Account
- Checking Account
- Time Deposit Account
- Dollar Account
You can inquire any bank near you, every bank has its own requirement on how to open account. My personal advice of planning to open Savings Account.
First, you must have a specific and different bank accounts for a specific needs, let’s say:
- Savings Account –> This account is only for saving for your future.
- Emergency Account–> This account is intended for emergency or for unexpected events.
- Expenses Account –> For grocery accounts, personal needs and others.
“Do not save what is left after spending, but spend what is left after saving.”
Investing, when you “invest” you have a greater chance of losing your money than when you “save”. People who does investing are the risk taker person. They know how risky the investing is, but in long term their is a big profit awaits for the investors.
There are many types of how to invest your money like:
- Stock Market
- Mutual Funds or Trust Funds
Most of the banks now offers investment plan, you can ask your bank about the basic requirement of how to start investing your money. Most common investing now is Stock Market, you can research about investing in stock market before jumping in, know the risky thing so that you are preferred enough about the stock market whether it’s Uptrend or Downtrend.
“In the short term, the market is popularity contest. In the long term, the market is a weighing machine.” by: Warren Buffett
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Thank you very much.
“Changing your actions, behaviors and thoughts might sound simple, but they are powerful tools to implement in your life. “