Mostly, every one of
us wants to be financially independent. Let's not put down the fact that we need
money for everything. Money is a stepping stone for your financial freedom. One
day or the other, we all would have dreamed of becoming rich and not worrying
about money. All of us want to retire early and enjoy our life with financial
freedom.
But, let's be
straight! Nothing is going to happen if you don’t work hard enough. Many people
just want to become rich by doing nothing. Do you think money is going to fly
and land on your lap? No right! You have to put in work. Millionaires tell that
not only work is appreciated when trying to become wealthy but also so many
other factors that influence your growth and stability as a wealthy person.
I have clubbed these
factors and have presented below as the most important 10 tips to follow.
1. Read Read Read
Warren Buffett says he reads a
minimum of five to six hours a day. He reads from books, hundreds of
pages of corporate reports, along with five newspapers each day. Buffett estimates he spends as much as 80% of his time on an average
day reading.
Reading expands your knowledge. To be successful, you
need a wide knowledge. So many intellectuals lived all these years and all
their knowledge has been transferred in the form of books. Reading a book is
like having a conversation with the author.
You will gather different perspectives if you read
books. The amount of information you can collect by reading books is infinite.
2. Connect with people with the same mindset
"you are the average of 5 people you hang out
with". So when you hang out with friends who don’t have goals and are
always partying for no reason then you will also be the same. Consciously or
unconsciously you will be influenced by their behaviors.
In the same way, when you be friends with people who
always push you to take the further leap, who always gives ideas on your
businesses and growth. Keep them close and watch yourself grow.
3. Have mentors/coaches
Everyone needs a coach or mentor. It may be your
colleague, partner, or a professionally trained coach - everyone needs one.
The reason is, you may always not be in the right
mindset. You may fall down, you may lose hope, you may face failures, a coach
will help you cope up with all your life's setbacks. They never leave you to be
stuck in one place at all. They design personal strategies for you to overcome
your difficulties.
Every millionaire in the world has a personal coach
who will help them to move forward. A coach is also your accountability
partner. The benefits of having your own coach are immense.
4. Hard work
All of us know this. Without hard work, nothing can be
done. Yeah, your smart work will also help you but not as much as the energy you
put into getting a task done.
Hard work also does not mean that you have tired
yourself to the core and take on all the stress on your shoulders. No. Hard
work is knowing what to do and being the right kind of productive.
According to me, the energy you put into work is
called hard work. If I work on something really hard but with no interest
then it does not make any sense to me. I define hard work as the intense
positive energy you direct in getting the work done.
5. Good communication skills
This is also really important if you need to be
successful. Communication skills are not only how much you are fluent in your
language but also how you talk with others. The words you use, your tone, your
patience, your body language everything counts to the communication skills.
If you want to succeed financially, you will need
to communicate with people. It may be regarding sales, marketing, or business
anything. Your financial success does not solely depend on you, it also depends
on your partners, your employers, etc. So, do develop a better relationship
with them you have to master the skill of effective communication.
6. Be your own brand
While you need the support of others to be financially
successful, it does not mean that you have to compromise on things that you
believe.
Always, stand by your values and believes. Be your own
brand. Don't give up on who you are in order to earn money. This is also one of the most important traits you need to install in you if you need to become
financially independent the right way!
7. Enjoy what you do
You will never succeed if you do something just for
the sake of doing. If you don’t love what you are doing then you are not going to give your best in it.
You can also not succeed in something because you are forced to do it.
Choose your passion and work towards it. When you
really enjoy your work, then it does not even seem like work to you. Your
satisfaction in doing the work will be your reward and the money will be the by-product.
8. Save and invest
Every millionaire talks about saving and investing. I
read a book called "The richest man in Babylon". It outlines the
story of how saving at least 1/10th of your earnings and investing them will
make you the richest person.
Develop the habit of saving your money. Money is to be
cherished in a useful and mindful way. Please stop spending on things just to
impress people or to entertain you. You will never know the power of money
until you don’t have it. So, why wait until you burn your pockets just to
realize the value of money? Start small, start now.
9. Reduce entertainment
As I mentioned before, stop spending on things that
do not make value. Instead, spend on your education. Buy courses and books.
Attend webinars, connect with educated people. Spend money on those. Not on
expensive phones, cars and dressed. Man, all the shoes and dresses won't fit
you next ten years. But the knowledge you gain will always remain with you. So
think wise and stop spending so much on entertainment. It is obvious that we
need entertainment in life. I'm not asking you not to go to a movie or have a fun-filled vacation. I'm just saying that you should spend your money wisely. You will know it
:)
10. Be obsessed
This is the main key to every other point. Be
obsessed with who you want to become. Just don’t wish or desire to be rich, be
obsessed.
When you are really obsessed you tend to put all the
work. Try out all the methods to attain your goals. Failures won't knock you
down. You will never feel demotivated ever. Every day you spend will be like an
opportunity to attain the goal. You will become more self-aware. You will jump
out of the bed with enthusiasm to work hard. That kind of motivation will only
be available if you are obsessed with reaching that goal.
All the best!
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