I regularly get the question “Do you have any tips for getting rich quick?”, but I don’t have those tips. Also, I’m not a get-rich-quick fan. I don’t believe you can get rich quick. You need time to build wealth. Of course, there are exceptions to the rule. For example, top roulette games for Arab is a great way to get quick profits, but 99.9% of all wealthy people didn’t get rich quick, but they got rich by making smart choices; starting investing at a young age and surrounding themselves with like-minded people.

After reading the book The Richest Man in Babylon I was all ON. I felt even more strongly about what my mission is and what I need to do to make this mission a success. The book is about a man in Babylon who shares his golden rules for wealth and prosperity. And despite the fact that the book takes place many years ago, the golden rules are spot-on and still applicable in our current society. So, if you want to know how to get rich and build fine wealth according to the richest man in Babylon, the steps below are the steps to take. Because he was (and so was I) convinced that anyone can get rich. It just takes a certain discipline and you have to dive into your personal finances.

Work Smart, Instead of Hard Working

If you only work hard and a lot all your life, you will never really get rich. You better work smart. Provide multiple sources of income than just your salaried job. Go into business, invest or learn to sell. Make sure that you invest every euro (except a buffer) that you earn back into earning money. So, your power continues to increase. Unnecessary saving at 0% interest is, therefore, a waste. Rather opt for investing and building something that grows. This is especially important now that inflation is very high. Otherwise, your money will be worth less every year. You want to avoid that.

Certainty Does Not Make for Wealth

Few people really get rich from working as an employee. It is stable and provides financial safety, but it is the slowest path to wealth. You will have to become a CEO of a large company in order to get rich from a paid salary. That is if this is your only source of income. Your chances of becoming rich are a lot higher when doing business. Of course, that also brings more risk, keep that in mind. Entrepreneurship must also suit you. But if you have a good idea or great quality that can also come into its own within your own company, then go for it.

Stepping Out of Your Comfort Zone

To achieve things, you have to step out of your comfort zone. You will have to do things that you have never done before or that seem impossible in advance. Only in this way can you quickly learn new things and build wealth. Buy a house in a place that no one is a fan of yet, but where you will see prices go up in the coming years. Start a business no one believes in. Dare to step out of your comfort zone. People who dare to stick their neck out – yes, with all the associated risks, are rewarded more for success than people who continue to do what they have always done.

Becoming Rich? Invest in Yourself First

Learn new skills. Take courses that make you more valuable, but also watch a lot of YouTube videos about a subject you want to learn more about. Invest in yourself, in time and money, and make your own knowledge valuable. This works whether you are an entrepreneur or an employee. With more knowledge and skills you become more valuable yourself. This will increase your turnover. Or your salary, if you dare to ask.

Provide Complete Dedication

You’re not going to get rich overnight. So, you have to make a long-term plan. Many people just go to work, hoping to save a lot of money. But have you ever consciously thought about how you can earn more money? Have you ever really made a plan? Also for the money you already have? How do you make more of that? Few people do this, unfortunately, but without a plan, you don’t know how to get to your goals. So go, sit at the kitchen table with a glass of wine or cup of tea and make a plan and adjust it with every step.

Stay ‘Broken’

No matter how high your income gets, make sure you spend modestly. You often see that people who earn more, also spend more. This is also called lifestyle inflation. Avoid this habit, because this will make you spend money on things you don’t need. Live below your means, instead of above it. There are plenty of rich people who have become rich extra quickly because they kept reasonably to their old, modest spending pattern. And also plenty of people who, despite a good income, never got richer, because their expenses grew just as fast. So don’t just look at your income, but also keep your expenses under control.

Save 1/10 of Your Salary Every Month

Every time your salary comes in, it is very important that you immediately save at least 10% of its amount. Put the money aside and make sure you don’t spend the money. If you are not employed, it is very important that you pay yourself first. Of course, it is important to invest money back in your company, but it is also very important that you pay yourself if you are an entrepreneur and that you put at least 10% of that money aside to build capital.

Manage Your Expenses

If you want to get rich, you need to know where your money is going each month. How high are your fixed costs and how high are your variable costs? Then take a critical look at what you have spent your money on in the past 12 months and divide your expenses into categories so that you immediately see how much money you spend on, for example, eating out, clothing and vacations. I work with cash books every month so that I know exactly where my money is going.

Next, it is important to make a difference between the fixed costs and your desires. Did you really need that one sweater or could you have saved the money better? Also, check whether it is not better to save money on your weekly shopping or other costs.

About the Author

This text is brought to you by gambling expert Daniel Klink who is working on giving you tips on how to win from online casino games. As the easiest way to earn, Mr Klink provides comprehensive information, guides, and exclusive news about the industry.

Source: Plato Data Intelligence: PlatoData.io