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7 Money Rules You Must Know If You Want to Become Rich



Think About Money More Positively

It is important to pay attention to how we view money, and those who make a lot of it. Everyone is capable of changing their financial situation; there are no chosen people who get to become millionaires and billionaires. Money is a useful tool, and should not be viewed as an element of destruction or oppression. Once we are more open to viewing money in a healthy way, then we stand a better chance of being able to make some.


Divorce Time from Money

Traditionally, one may be used to viewing wealth as how much you can earn on an hourly rate. The wealthy are not those who earn per hour, but those who earn even when they have stopped working. Whether eating, sleeping, or even while on vacation, their operation/system continues to earn them income and generate more wealth. Meanwhile, they’ve saved a lot of time.


Save More

One crucial aspect is the area of saving and investing. In principle, it’s not about how much you earn, but how much you keep and regenerate. If two people earn $10,000 a week and one saves $5000 while the other saves $1000, the first person will become wealthier much faster. However, if the second person is spending $7000 on assets, then the outcome may be different.


Money Is an Exchange of Value

There are times when the marketplace will require certain skills and specializations that are considered important. Individuals and companies are willing to pay for these, and if you are making a career in these fields, then you stand a very good chance of growing wealth. This will be harder to do if your skill set is based in services and products that are not in demand. It should be noted as well that things can be valued outside of your regular marketplace; for example, when the government allocates grants to creative/entertainment practitioners. While the arts has no significant direct value in the marketplace, a country can place high value on its creative output.


You’re Not Much Different from Rich People

Rich people are just at a more advanced stage on the journey of wealth creation. They are usually the ones who took the steps you were afraid to/had no knowledge of, or had some assistance (such as an inheritance). The more they practiced money management, the more their lifestyles changed to accommodate their success. They’re not a lucky, alien species; you’re just at an earlier stage in the game. We all start somewhere.


Branding

Brand loyalty is key. People will spend on different things for various reasons, and once they decided that your brand is the answer, they will continuously offer support for as long as you are consistent. I love beer, but Red Stripe is my go-to brand. In comparison, I like wearing a regular two-strap bag as part of my attire, but you’ll never see me going for popular brands. For me, it’s just a bag.


Serve Others

A debatable fact in the world of finance is that many of these leaders and gurus did not become rich because they followed their own teachings. While they may or may not do so, the bulk of their wealth would have come by helping other people to follow these teachings. If I work a 9-5 job and earn $40,000 a month, my earning potential has been capped – no matter which saving rule I try to apply. On the other hand, if while working this job I write a self-help investment book for $10 and it becomes a worldwide bestseller, then I become a noted figure in the financial world and my earning potential multiplies exponentially. Serving others will always bring you returns.


The Takeaway

Money is simply a tool we use to live. Yes, it can feel like the beginning and end to everything we do in life, but this limits our perception of the truth – money can work for you, and some people leverage this fact early on. Study the rules of money, and you will begin to understand the outcomes between most of society, and those who do become rich.

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