Accelerate your wealth from your 1st paycheck

	I am no online business entrepreneur, nor a professional investor, hence the tips I will give you below are the ways I have used to dramatically increase my wealth in the past 20 years (I am now 40) based on common sense, experience, yet no specific entepreneurship/venture. Hope this will help.

• Learn how to spend wisely

From the day I got my first pay check, I started to record my earnings and expenses on a software.
I usually record these at the end of each month when I receive my statements.
Thanks to this I started to understand my spending habits, opportunities for savings, as well as watch my savings grow.

• Allocate a portion of savings to Bonds mainly and a bit in stocks

As an example, out of the money I have put on the stock market, 70% are in Bonds and 30% in stocks.
The bonds I use are government based and fast growing technology caps. The stocks I hold are mainly in the medical equipment space (population in developed countries is getting older…;-)
The securities I have chosen have been for 10-20 years (the first bonds I bought I was 22, I am now 40) steadily growing. Over 20 years I have tripled my gains.

• Explore invoice financing

When I was a student, I learnt that invoice factoring has been a leading way throughout centuries to finance companies in need of immediate cash instead of waiting for the regular N30, N60, N90... days of payments. About 2 years ago I identified online platforms that enable online invoice financing. I basically select the type of companies I wish to finance, and then choose the number of days I want to finance invoices. Being risk averse, I usually select 30 days financing; still, it gives me a yearly average 7-8% net return.

• Open a “smart” savings account

Wherever you are in the world, just shop around, different interests rates are offered from an account type and bank to another, in your respective country. As an example, I found an account where I can lock my savings for a few months and make a 2% interest rate as of 2018.

• Use a credit card to save money!

I have 2 credit cards however, I never, ever use them as a financing method. I always pay my dues before the deadline hence I owe the bank nothing. I have selected these cards because they give me 10-20% discount selected restaurants, stores etc.as well as airlines points (I fly once a year long-haul flights for free thanks to my points).

• Buy your home ASAP

This is very simple math, when you are a tenant, the money you spend on your rental is forever gone. Period.
In 20 years I have heard people being tenant of their home and buying outside property to rent it out! This is what I call a 0 sum game.
Let’s say after 10 years your home value has not increased a dime or even let’s say lost 10% (or less or more) of its original value, you still saved significant money on the rent your did not spend.
Build a business case (financial model) on xls, make your calculation.

• Buy an additional property to rent it out

Once I had saved enough money after buying my home, I earned additional passive income (in addition to bonds) by buying a couple of studios in well located/high demand neighborhoods. Remember, the lower the property size the high the return.

• Explore #cryptocurrencies

I have invested 5% of my savings in #crypto and I made really good money (overall tripled too) as I learnt how to exit in crash times…
I am not a professional crypto investor, many others are; what I know is that market is low right now and I will probably re-enter the market in the next few weeks.

Photo by Anthony DELANOIX on Unsplash