How to become Rich in 365 Days
Who doesn’t want to become rich? It must be perhaps every man’s dream to become rich and become rich in just a matter of 365 days!
While it may seem impervious, it is in fact very much possible. It isn’t easy though. Sure you need a little luck but more than that what you need is perseverance, planning and the correct guidance.
Golden Rule no. 1
You may not believe it but there are actually many ways you can save money. Start by making it a habit to put away some portion of your paycheck every month in a savings account. Cut on your expenses like if you don’t need a new pair of jeans, don’t buy one; if you have to buy a new car, buy the one that is just priced to meet your requirements and not the one that is priced higher for the features for which you don’t really have any need. Spend your tax refund cautiously. You also need to make practical budget every month to keep your expenses in check. Also try not to buy anything on loan from bank, saving your money which would otherwise be wasted on interest. And even if you just have to, then try to opt for a shorter plan.
Golden Rule No. 2
Reduce your living expenses
The living expenses are generally static which you cannot opt out of completely. Although, you can definitely reduce them like try to cook at home instead of buying food from eateries, grow your own kitchen garden to get fresh and low costing vegetables and buy your monthly supplies in bulk; thereby availing offers and discounts. Learn to use electric equipment as little as possible and switch them off after use. Make use of public transport or better still walk to work every day if it’s not too far, thus, getting some exercise in return as well. Another way to effectively reduce your living expense is to own a house rather than renting an apartment. Here, one thing to note is that, you need to prioritize your want to; can you make do with a smaller apartment or you want to spend unnecessarily on a large house.
Golden Rule No. 3
Put money in stocks, bonds or real estate. If you invest wisely you can very well expect to get handsome returns. Make some investment in your future too. Buy 1-2 good retirement plans. Also, avoid spending your hard earned money on things which are not going to be worthwhile in a few years’ time.
Golden Rule No. 4
Building up a Rewarding Career
It may not always be true but is definitely a thing to keep in mind that a person who has a great academic background or is highly qualified is the one who is most likely to nail a handsomely paying job. The type and location of the job you choose also matters since of course you can’t imagine getting rich with a job of a school teacher as opposed to IT or finance or in a rural area against metro cities. Also, do not stick to just one job for years on end. Keep changing your employer to get a substantial raise in your pay.
Being a little money-wise and determined one can surely become rich in just 365 days or quicker.