Contest: "How to accumulate wealth".

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Wealth here refers to riches, luxury, valuable possessions in it's abundance.

It is the accruing of valuable resources in terms of any or all the types of wealth which are; Financial (money), Physical (health), Mental (health, spirituality), Social (relationships) and Time (freedom) wealth.

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Financial wealth deals with the monetary value of assets excluding all liabilities. This form of wealth can accumulated by trying out the following;

• Set finance related goals: these goals could be in form of short-term or long-term goals. While setting these goals, it is important to keep in mind that these goals might change anything due to unforseen circumstances.
  It is also important to set realistic goals with the mindset of achieving them. Doing this sets your path towards financial security.

• Work for income: being at the earning point of any forms of income, either active, passive or portfolio income contributes greatly to building and maximizing wealth.

• Saving: as someone looking forward to accumulate great wealth, saving should be a habit. From each income, 20% of any amount should always be allocated to a savings account.

• Paying off debt: debt especially high interest debts prevents wealth accumulation. Paying up these debts is very important as it frees up your money for proper savings and investment.

• Investing: investments though having it's own risk depending on the type of investment, undoubtedly increases financial growth in form of mostly long-term goals.
  Constant investment with constant returns is a sure medium for accumulating wealth.

In all these, dedication, hardwork, consistency and persistence are invaluable qualities that work together with each step.

Thank you @boylikegirl for this topic. I am inviting my friends, @uduak3287 , @bossj23 and @spanky-dollar to come share their interesting thoughts and management methods regarding the topic.

   Thanks for reading my blog.