3 main steps to create wealth

• Tweet
• Share
• Email

• Tweet
• Share
• Email

If creation of wealth could be oversimplified to 3 minimal steps, I would simply say (in order of priority, in my view)

1. Focus on your income. Try to increase it every year.
2. Invest your money using common sense.
3. Focus on reducing expenses.

Well, for these 3 steps there are 1001 things that you can do. A few are listed below.

For step 1.
1. Focus on job, over deliver, re-brand yourself, learn new skills, increase competency, add more income streams, add new customers, ………. and the list goes on.

For step 2.
1. Read, read and read. Use common sense. Learn from mistakes. Do own research. Don’t go by hearsay. Don’t go with the crowd. Be greedy when others are scared. Be scared when others are greedy. Have an investment philosophy and do not invest randomly. Insure yourself and your assets. Be patient…..and the list goes on.

For step 3.
1. Track your expenses. Budget your money. Know where money comes from and goes to. Stop leakages. Revisit your expense habits. Revisit your lifestyle. Revisit your needs. Involve your family…….and the list goes on.

NOTE: This is a 2 year old post which I edited and moved up the list by changing the date.

No related posts.