What are the common characteristics of people that accumulate wealth?
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What are the common characteristics of people that accumulate wealth?
If you have a low income which can hardly cover your expenses, credit card is your best tool to accumulate some savings if you know how to use it properly. First of all, in order this to work, your credit card must always have zero balance. You must never spend more than you earn. You must always make sure that you can cover your credit in the last payment day, and never before. When you make some money, always invest on an assest which can easily be exchanged back to cash immediatly. Online banks have a lot of investment options and a big deal of them accept very small amounts of money. However, some of them may require 1 or 2 days to exchange so make sure that you will have cash at the moment you need it – which is the very last payment day of your debt. Never let the bank charge interest from you. On the contrary, always make sure that the bank is paying you interest or whatever else that asset gives. Do not gamble. If your budget is really low, never invest on something which has a slightest chance to produce negative income. Prefer assets which bring low but risk-free profit.
You definitely will get a lot of different answers from different people, but the good thing is, most will be correct.
Goal setting
Get clear goals. You have to know what you want in life. Next – create strategy how to reach your goals.
Focus on one thing at a time
Don’t do all things at the same time, better be master at one thing. Focus on one main thing. Don’t waist your energy to other stuff. Learn to say “No”.
Live in the Future
One thing they do differently on a daily basis is attempt to forecast future trends. Like Warren Buffett once said, “Someone is sitting in the shade today because someone planted a tree a long time ago.”
Spend less than earn
It is really simple step. Always spend less than you earn.
Respect time
Know that time is one of the most valuable thing. Plan Your time carefully. Don’t waste it!
Exercise daily
Health and wee being has no price tag!
Work very hard
Work hard every day on your ideas, goals and dreams. Don’t stop when you’re tired, stop when you’re done.
Continually investing in personal growth and learning something new
Don’t watch TV and stop fooling around, read as many books as you can, go to seminars. Always increase your value.
Wake up early
Think of this time as a pre-game warm up, allowing your mind to mentally prepare for the coming challenges. Waking up early is an extremely useful tool for self-reflection and meditation in the daily arsenal of the wealthy.
Generosity
This it is the key for getting more and more richer. Help others to achieve their greatness and you will get rewarded. Always give first!
Surrounding with wealthy and succesful people
You become that person with who you spend time with. Find succeesful a people.
Persistence.
If you fail, don’t give up. Try as long as you succeed in it.
Take actions and risks
The life is all about moments, wether you took that risk or not. At some point all rich people have taken risks, because if you don’t take them, you can’t become rich. Take action on your life! Don’t be afraid from it!