3 Ways to Increase Your Wealth
It is one of the great conundrums of our time. Money. Now more than ever, money seems to rule the universe and the humans within it. Money controls governments and armies, politicians and citizens alike.
I wish money wasn't as powerful as it is today. You can certainly live a minimal lifestyle where money is pushed to the side. That's a micro view of money. On a macro level, money is certainly one of the most influential factors in the world today.
I view money as a tool for accomplishing and experiencing everything you can dream of in your life. Some things that I enjoy can only be purchased with money.
Example) Food. I LOVE eating good food and food costs money. Therefore I have to place some importance on money if I am to enjoy things that I like.
With all this being said, it's certainly better to be wealthy than poor.
Wealth is a mindset. Here are 3 ways to create more wealth for yourself.
- Anybody can attain wealth if they're focused enough (and with enough time). If it's truly a goal of yours and you do everything in your power to achieve it, nobody is stopping you.
As yourself, What's holding you back from wealth? Is it your debts? Is it your spending habits?
-Sit down and draw out a plan of attack for destroying the things that are holding you back. Figure out how to pay off your student loan and spend time doing research on intelligent ways to conquer it. Maybe you can refinance but never knew that because you didn't run a Google search!
-Stop spending on things you don't need. This is one of the most important challenges you need to overcome financially.
2)Investment Mindset. Invest in assets, not liabilities. This may seem obvious but if you make it a habit to constantly be investing and reinvesting than you've just created a machine that makes you money while you sleep.
- S&P 500 Index Fund historically is around 6-8% returns. Would you rather use your money to make more money or buy a Grande Frappuccino from Starbucks?
- We all invest in crypto so obviously you have an investment mindset if you're here.
3)The wealthy have 5-7 income streams. Look for ways to create more income. Use your passions and skills to set up side-gigs that net you even more profits. Who knows, maybe you can quit your day job and do what you love if you work hard enough!
Cheers guys, that's all for today
Much Love
I talked with a man once that explained your wealth as a pool. All you expenses are siphoning out of your pool, and you need more water hoses coming in to offset the siphons. He liked investing in mineral rights for passive income.
One of my goals is to replace Facebook with steemit. I'll still check my Facebook a couple times a day, but when I find myself seeing the same few posts again, I'll hop over here and do something productive with my internet time.
It's time that I would spend BSing on Facebook, so I replace it with something rewarding and enriching.
Something I would add to your list, and something that I think about often: I like to ask "how does this increase my quality of life?" If it provides no appreciable service, it leaves. Often by way of a game, app, or old hobby in my case.
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