Master your mind and earn wealth
When we young people enter into practical life after the acquisition of education, the main motive of the work of the majority of us is the acquisition of wealth; And for the next 30 years after graduation, we try to prove our skills to the world by getting some more certificates, taking exams or taking special classes and earn more money than before.
In practical life we gradually adopt some new habits. Toil from morning to night to earn money; And then try to save as much money as possible to fulfill their other desires. Thus, gradually we become part of a "rat race" in which we leave our homes early in the morning to do someone else's job, work hard all day, fight traffic in the evening. They reach home, do their personal work at night and go to sleep. Then this becomes our daily habit.
Our rat race is fueled by the thought: “Earn more so you can spend more.” The problem with this process is that we can become rich by working 8 hours a day for thirty years, keeping the same routine. But not rich.
Not rich, be rich!
If wealth is taken away from a rich man, he would become poor. But when wealth is taken away from a rich person, he can become rich again in some time. Being wealthy is basically a name for a skill.
A person becomes rich by winning the lottery, inheriting property, being born into a rich family, marrying into a rich family, or gradually accumulating money. But often this money does not stay with a person for long; Because a person's being rich or poor is related to his thinking.
Control your expenses
The principles of becoming wealthy are slightly different from those of becoming rich. The basic rule of getting rich is investing. If a person earns 15,000 per month, invests 1,000 and spends the remaining 14,000, then such a person can become rich, but if a person earns 200,000 per month and spends only 200,000, then he becomes temporarily rich. Will go, but can never become rich.
Earning wealth is all about thinking
"If all the wealth of the world is distributed equally among all people, in a few years the poor will become poor again and the rich will become rich again." How is this possible? What would you do if you got two crore rupees today? They will try to fulfill all their wishes which could not be fulfilled due to lack of money. Most people will do the same. This is a whole subject taught under the name of Behavioral Finance.
Whenever we spend money from our pocket, we are getting some services or goods from another person or organization. And thus, our money leaves our hands and becomes the property of the merchant. This happens because the trader stands on the "supplier side" and gets the skills to be a supplier, that too without passing any test. If you also want to get rich, come to the supplier side.
Invest
Investing means investing your wealth today in a place where you can expect a total return. If you have the knowledge to get more wealth from wealth, then you are an investor. And if you are spending your wealth today in the hope of making a profit tomorrow, without acquiring this knowledge, then you are a gambler, not an investor. This is the gamble most people take in the stock market.
A Few Proven Ways To Earn Wealth
People who work or sit on their own business from morning to evening, earn active income for which they have to work 8 to 10 hours daily. These individuals are usually part of the rat race because the day they stop working, the day they stop getting paid.
Earning profit by investing in paper assets is called "Portfolio Income". This includes certificate of deposit, sukuk, mutual fund and share trading. There are two advantages in this work: one is that a small amount of money can be invested, and secondly, if this work is done thoughtfully, financial education and business acumen develop in the person.
A business in which you do not have to work from morning to night, and your employee or your business earns you money with each passing time, such income is called passive income. This includes corporate investment, real estate and other businesses.
When wealthy people earn money, they reinvest the money they earn into profitable businesses. Thus they become richer and richer. Other people work for them, and they reap the benefits of the business system they set up.
A middle-class person will buy a car worth five lakhs but will not invest one lakh, because he did not try to learn investment for fear of sinking money, while his car can also give him a big financial loss. .
If you want to get wealth, make your mind, control your expenses, invest. Save money from active income and invest it in portfolio income. Try to build as many assets as possible. Only then it is possible to get passive income gradually.
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