Introduction Of 7 Keys To Manage Your Money Like The 1% Of The Richest
7 Keys To Manage Your Money Like The 1% Of The Richest. 7 keys to managing your money as 1 percent of the richest and most financially successful people every time you handle the money like the richest 1% of people does not necessarily mean being by earning huge amounts of money you can earn relatively little money and handle it very well one thing is to earn a lot but not necessarily be growing financially having a net worth or net worth pretty tall and people who just make lots of money and spend lots of money you never get rich by actually spending the people you seem more successful or wealthy are the ones who spend.
Who have income and a net fortune equivalent
The most because they are the who buy cars that are showy those who buy houses that are gigantic mansions or those that suddenly we see jewels and living luxuries, not necessarily those who have a large investment portfolio or those who have really good money habits that in the dow they handle how they must to grow to that level, however, those who have income and a net fortune equivalent to what it is to belong to the 1% since they have to do something different beyond just winning good money they earn good money many people can do it, let’s say through different ways including for example many politicians and good people.
That I do not consider truly rich because it is speaking of mental wealth first and later wealth in knowledge manage money so that it is a source of good things for him world not only for me but for people belonging to the 1% can seem extremely difficult and although it might surprise you it is not if you want to create a video about it you need to belong to the 1% counts in the comments on the day and let’s talk really how to get there and what the guidelines that if you carry out constantly with a lot of judgment and consistency and discipline from today Regardless of where you are, the safest thing is that your finances progress to the point. Its Game Changer Blog 7 Keys To Manage Your Money Like The 1% Of The Richest.
Where hopefully at some point you are in that situation and the first key is to have very strict monitoring of expenses poor or middle-class poverty-minded people think that rich people spend without thinking without control as they have so much money they do not care to buy this they are not worried about buying the other and if there are probably people who spend that way but people who come on their own and perhaps starting from scratch starting with him not being born in a golden cradle or not coming from a rich family because you have to be very conscious about how manages your money.
You enter to analyze your statistics are on a sheet of paper
You can’t just get out of hand like water every month without knowing what happened and all this begins with strict monitoring of every expense is not that these things cost me very little money so I am not going to take it into account because there it is where we fall into the problem friend are that this expense because I already had it planned is so that I will notice it because probably later we will perhaps that expense counts if it could have been reduced in this way or changed for this other is to take into account a global follow-up and many people tell me that I repeat this a lot but it is those same people here who have never done the exercise.
The one that tells me because if you carry out the exercise 30 60 90 days with constancy and consistency the moment you enter to analyze your statistics are on a sheet of paper or an excel sheet or an application wherever you want to be, whatever you do when you analyze yourself you are going to realize many things of which you are not aware today if you do not you have done the exercise and this is done by many people who are thanks to it has kept in mind that control of expenses almost at the accounting level.
Because many acquire it through after their business and accounting of strict that they have to carry out and they do it on a personal level as well Thanks to that, they get those results and allow themselves to be in the 1% the emergency fund is money saved for contingencies that for these times many people ask me what is advisable to have them in normal savings account simply because not in cash because of the issue of Security I do not recommend it because it persists they steal it, let’s say that was the issue of the angel of emergencies and well, not in an investment type CDT where you are going to delay a certain amount of them.
When you need it or some fixed income because the funds in Colombia
When you need it or some fixed income because the funds in Colombia are falling but it turns out that roughly 60 percent of people in agreement different studies could not cover an unforeseen expense equivalent to a minimum wage roughly if something comes up from one moment to the next that is not I was planning to pay what costs you about the minimum wage the most It is likely that you do not have the money and you will have to go into debt if that is not the excellent case let’s say you’re in a position in which you have contingency money or a fund of emergencies has saved I have a video in which I speak precisely about how to consolidate it.
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What are the amounts owed but, amazingly, so many people aren’t ready for an unforeseen and the most certain thing is that in life and as life has shown us, again and again, there are these types of unforeseen events even very frequently So these expenses do not make us acquire debts with credit cards? credit or loans drop by drop or many other things that could be worse and cost you more money in the long run key number 3 is not to have high issues interest not having free investment loans maybe vehicle credits we also talk about credit cards credit card debt is poisonous because interests are practically the highest the usury rate then.
When Let’s say we have a mortgage loan, suddenly we can say ok the rate if it is low enough if you have a good credit history and banks they offer you either through interest rate subsidies or Anything else, then this credit is ready, we can not consider it as a debt and we simply consider it suddenly as a long-term investment term or something like that maybe it’s sooner to take it out of the equation but when we talk about credit card debt especially when the people pay for a vacation with a credit card they put them at 36 installments and they spend years paying that queen but this simply does not contribute to the financial growth and people who consolidate their wealth even with good or low income do not acquire debts.
What type of debts are worth acquiring so as not to get into debt
Because debts are They are proportional to what I earn because they are going to eat through interest all possible growth potential of return even from more investment as we are going to mention in the last element then what happens that unless I have a clear and specific strategy to get out of debt or the knowledge of what type of debts are worth acquiring so as not to get into debt unnecessarily because it will be very difficult if I do not take those things into account that I can belong to the 1%. Read More To Know 7 Keys To Manage Your Money Like The 1% Of The Richest.
The reinvestment and maybe Let’s talk about reinvesting in your own business, whether when you’re starting and the business begins to make a profit unless you spend the money that you mates them in little things as we say around here Instead, they reinvest them to create more products or launch a new line or to just buy more inventory of the raw material you need or in research and development in knowledge including reinvesting in you in your education whatever it is you need the reinvestments perhaps one of the fundamental keys to wealth because it allows you exponentially multiply the potential of your money if your business.
Start to generate profits and you spend fabrics you are cutting your wings practically and if you do not have a business and need to acquire the knowledge study learn or test experience that investment is more like in yourself well if you do not know what to invest in first to invest in your own knowledge key number 5 is to generate more income because there comes a point where people say that I already did everything possible to reduce my expenses by monitoring strictly and I know What expenses do I have? Which ones are impulsive? I already eliminated them, I already have the Swiss call control of everything possible because of my expenses.
What happens if that income source is affected about two years ago
I am also saving the minimums and suddenly I already got out of debt and Now I want to invest a little but the money is still not enough for me at that point you need to generate an additional source of income and the people who be belong the 1% of the richest people who earn the most money of the who have a higher net worth have more than one source of income not we can only depend on one business even if I have my own business if I am a businessman or merchant but if it is only me come what happens if that income source is affected about two years ago when I made videos talking about these issues because many people told me that their unlikely and I don’t know what but now with the pandemic with the country’s situation with the crises that we have been living one after another after another now like.
If it is clear that certain sources of income may be affected in the short, medium, or long term so I should not depend on or leave my luck linked to only one of them and although I know that it is not easy to think that there I just do this and with this, I gen,rated more income I was going to attend to every person in every location with every level of knowledge of the age of so many two factors are missing what to do to generate more income because I consider that the effort necessary to fail if it is necessary to study learn to try and fail more until you make it truly worth the Pity the key number 6 is to plan your pension or your retirement your r. Get More Infromation 7 Keys To Manage Your Money Like The 1% Of The Richest.
You trust what is the mandatory pension to the state does not matter plan yourself either through buying properties that you rent if these leases give you a monthly income that you can live on or through an investment in shares that then dividends provide that monthly income when you are a certain age or through anything else that you know for sure what the plan is to retire for have an income without having to work at what age are you going to start receiving that income how much exactly that income is going to be adjusted for inflation and therefore so much today how much you must contribute and contribute monthly to make.
It takes to grow even more is one thing to invest in mechanisms traditional
That happen reality unless you have a specific plan for that is going to be very difficult that later may belong to the 1% of the richest because practically all in this perfectly structured step and key number 7 is to invest but only after you have had all the previous steps only after having consolidated the fact of having a strict tracking of all your expenses only after having your fund saved emergencies so that no unforeseen expenses arising from nothing will unbalance you only after you have paid your debts of high interest and if you have a mortgage no more just having invested in you and have reinvested your earnings through your business or of whatever.
It takes to grow even more is one thing to invest in mechanisms traditional like stocks bonds mutual funds cryptocurrencies and even another thing is to invest in your own business or your ventures or your knowledge after having more than one source of income and after already contributing monthly what is necessary to retire that’s where we say now we’re going to invest and we’re going to build an investment portfolio well-diversified enough to reduce the risk but to expand the possibility of growing your money from so that we are ready we are on our way to consolidate and strengthen your heritage of so that you can belong to the 1% in a guaranteed way.
When people hear that usually what not to think are you going to take me a lot of time but the reality is that it is okay if it takes you months or years to get home to carry out the above steps before investing many people believe that investing in the way of getting rich and you are not although there are a few exceptional cases of great luck in which people invested and became rich with something strange the reality is that traditional investments are a virtually long-term guaranteed mechanism to consolidate establish preserve and grow the fortune that one already created the great millionaires invest.
The fortune they have already created through their businesses
So that the fortune they have already created through their businesses from the undertakings of their participation in companies Well, do not go to the floor, do not disappear from one moment to another, I do not know to spend it on little things but truly that wealth remains in time and preferably grow a little is not that we are going to duplicate it in three months like out there they promise us everywhere that if we invest x amount in a multilevel that uses cryptocurrencies and trading and who knows what things then that we are going to double our money in a month or two months or six months or in a year which is simply not sustainable because.
If they want to achieve that all the time consistently and guaranteed they would probably be the richest people on planet earth and we would be hearing for help everywhere but sometimes they are offers that not even we know where they come from then it is very strange and when we are going to invest We have to invest in something that we are going to know that we understand and on which we have educated ourselves is to say if you do not know what to invest in You first have to invest in education to know where to invest this money management structure to make sure you’re doing what is necessary step by step.