Content

• Steps
• Method 1 of 4: Become a Saving Guru
• Method 2 of 4: Get Rich Actively
• Method 3 of 4: Become a Smart Consumer
• Method 4 of 4: Improve Your Skills
• Tips
• Warnings

Almost every one of us dreams of wealth. After many years of hard work, I want to have a reward for this. But how to give up the goods of the present for the sake of the future? This article sets out short, but very clear theses.

Steps

Method 1 of 4: Become a Saving Guru

1. 1 Calculate your budget. This is the primary action. You will not be able to make a fortune if you do not save and save money, as well as if you do not know what it is going to. You can find information on how to distribute the budget on the net, we will not load you with this question. The most important thing in budget allocation is to always remember that spending should be deliberate. With this in mind, you can save a lot of money.
2. 2 Save money from every paycheck. How much to save is up to you. Some save 10-15% of their salary every month, some more. The sooner you start saving, the more the amount will accumulate, even if it will be 10% at first.
   • Another golden rule of economy is the rule of eight.It means that by the time you retire, you should have accumulated 8 times more money than your salary. Thus, by 35 you should have saved twice as much salary, by 45 - 3 times, and by 55 - 5 times more.
3. 3 Take advantage of "free" money. This is a percentage of taxes that is deferred until you retire. Most of us do not know the interest rate of our Pension Fund. Moreover, they do not know that a pension is an investment vehicle. So, every person is an investor, but this money can be received only at the onset of retirement age.
   • Unfortunately, in 2006 the State Pension Fund accrued only 4.7 percent on the funded part, while the official inflation rate was 9 percent. The losses of each investor in this case amounted to 4.3%.
   • There are also income-generating retirement plans. These are Non-State Pension Funds, which strive to show returns higher than inflation. The activities of Non-State Pension Funds are controlled by the state, and the worst thing for a fund is to lose a license, but even in this case, investors will not lose their savings.
4. 4 Create an Individual Pension Plan (IPP). This is a set of conditions chosen by the contributor (client), in accordance with which voluntary pension contributions are transferred to a non-state pension fund (NPF), funds are accumulated and, subsequently, a non-state pension is paid.
   • Having concluded an agreement on non-state pension provision with the NPF, you can independently determine the amount of voluntary pension contributions, the frequency and duration of their payment, as well as (optionally) appoint a legal successor, thereby independently forming your non-state pension. NPF invests pension contributions and calculates investment income on them. Due to this, there is an increase in the pension amount on the registered individual pension account.
5. 5 Don't overuse credit cards. Of course, in some cases, credit cards save you, but it is important to understand that this is how you train yourself not to count money. In the future, you may have problems because of this.
   • Moreover, scientists have found that we perceive money on a card and real money differently. Studies have shown that those who often pay with a credit card spend, on average, 12-18% more than those who use real money. For example, at McDonald's, people who pay by card pay $ 2.50 more. Why does this happen?
   • We "feel" the real money better than the one on the card. Our brain perceives virtual money differently, because of this we spend more using the card.
6. 6 Don't waste your tax refund or use it wisely. It is better to invest this money in something, pay off debts with it, or put it off for a special occasion. Anything is better than being unwise to waste it, thinking that money just fell on you from the sky. You can't make a fortune that way. Always think about what you are spending your money on.
7. 7 Change your perspective on saving money. We all know that saving is not easy. It’s very difficult. In general, saving money, we give up the goods of the present in the name of the future. But you can motivate yourself by looking at it from a different angle. For example:
   • When you make a high-value purchase, calculate what percentage of your salary you spent on it. So when you're looking to buy something that has cost you a week of work, consider if there is a cheaper option?
   • Divide your savings goals into points. That is, instead of setting yourself the goal of accumulating a certain amount in a year, it is better to try to accumulate a certain amount in a week, month, decade. If you go to the goal in small steps, it will be easier to achieve it.

Method 2 of 4: Get Rich Actively

1. 1 Consult with a finance professional. Have you ever heard the expression "Money is needed in order to earn it"? So, a consultation with a specialist is exactly the case. A specialist, especially a good specialist, will help you plan your finances and show you how to make your money work for you. So this is a wise investment of money that will contribute to the growth of your finances.
   • A specialist will teach you investment strategies, explain long-term and short-term goal-setting strategies, help you develop a healthy and rational attitude to money and tell you when you should invest money in order to get the maximum benefit.
2. 2 Decide if you want to invest your savings. If you want to increase your profits, you should invest money. There are many ways and options for deposits. Find the option that suits you best.
3. 3 Don't get caught up in one day's stock market trading. You may think that you will get rich buying cheap and selling high, but unfortunately, time has shown that this is not the best way to get rich. In fact, this is speculation, but not an investment! Once you get into the excitement of speculating, you will lose.
   • Research has shown that one day's trading on the stock exchange is not profitable. If you're lucky, you will only see a 25-50% gain. Only those who take part in such transactions on long-term terms can earn, but not those who are engaged in resale.
4. 4 Invest in a foreign or emerging market. By buying foreign stocks or bonds, you are taking risks, but there is also the possibility that you will make good money on it.
5. 5 Invest in real estate. Investing in property can increase your fortune dramatically. Thus, you will not have to spend a lot of money every month on rent, you will start paying only for utilities. You will soon feel the difference.
   • Buy the property you can afford and no longer pay rent. It may be that buying an apartment on a mortgage is the biggest waste of money in your life, but it's worth it. You will not have to pay a monthly rent and you will finally have your own property, which in the future can become the property of your children. By spending money on renting a home, you distance yourself from your main goal, namely, from buying your own apartment or house.
   • Become a landlord. By renting out an apartment, you will receive a constant profit.

Method 3 of 4: Become a Smart Consumer

1. 1 Live on your own means. In order to be financially independent in the future, try not to borrow, but to cope with your own funds.
2. 2 Never buy expensive items on impulses. You see how your friend bought a new car, and you also want to please yourself with such a purchase. Remember, your emotional, non-rational side is talking about you. What if this happens?
   • Set a mandatory waiting period. Wait at least a week or until the end of the month. If you still want this thing, then you may no longer be on the impulse.
3. 3 Don't go to the grocery store and make shopping lists when you're hungry. It's no secret that hungry people always buy more food. Therefore, go to the store after eating. Once you've made a list, you will only buy what is listed. So you buy what you need, not what you think you need.
4. 4 Buy some products in bulk. It is always cheaper in bulk, so think about what foods you consume regularly and buy in bulk so that it will last for a long time. There are also various online services and discount programs, so before going to the supermarket, check the Internet for any discounts or special offers.
5. 5 Make "pussies" to work. You will save money this way because you don't have to buy lunch every day.But this does not mean that you should not allow yourself to go out somewhere after hard working days.

Method 4 of 4: Improve Your Skills

1. 1 Learn to make money. If you feel that your skills are getting in the way of making money, go to university or college. Education is the best value for money.
   • Change your specialty. Analyze the job market and choose a lucrative profession that suits you. You will quickly learn and in a couple of years you will be able to make good money in a new field.
   • Do not study for the sake of just getting the "crust". Knowledge and skills are much more important!
2. 2 Communicate with colleagues, share experiences. Do not be afraid of such communication, it is very useful for both you and your colleague.
3. 3 Maintain collaboration and run small business. You will be able to communicate within the work community, which is very important for your career growth. You never know how people can influence you, and how you can influence people.
4. 4 Learn to "use" your money. Remember that money is earned in order to spend it. Therefore, make yourself nice gifts from time to time. Use your money while you live, as it will be very disappointing to die knowing that you still have a whole fortune unspent.

Tips

• Read on. Reading is your key to success. It is very important to know what is happening around and how the world lives.
• Invest money for the future.
• Invest wisely.
• Develop your horizons. Learn more, get additional education.

Warnings

• Don't waste your savings on emotions.
• Know the value of yourself and your skills.
• Remember that a grain is harvested ... Your investment is grain.
• Do not waste "grains" in vain, otherwise you will not harvest.