Money management skills will determine whether a person is financially successful and become rich so or not. Still, these skills are very learnable and require consistency.
Valentino Dinsi, SE, MM, MBA, founder MuslimCOACH mentioned, only one percent of people in the world which controls 50 percent of the money in circulation, and five percent of people in the world who control 90 percent of the money supply. This is tantamount to a growing number of people vying for less money.
So how about the small percentage of people in the world manage their money and financial success and become rich because of it?
1. Do not rely on one income
Become wealthy by working harder and attract more money. Relying on one source of income would not be enough to add revenue. So, how to get rich is to seek a second or third source of income. You can find additional revenue with skills or hobbies that are owned and can be done from home. As a freelance author and do it after work. Or other expertise that is different from your current job.
2. Accumulated assets
The more assets you have, the greater the value of your property. Start investing. Buy land, which facilitates business franchise and demand in the market, or other forms of investment. Of course you need to increase knowledge about investing, including risks. By studying the types and risks of investment, you can earn extra income at a time to accumulate your assets.
3. Apply the theory of "compounding"
As quoted www.dowtheoryletters.com in Irwin Shaw's book entitled Rich Man, Poor Man mentioned, compounding the first rule for making money and being way to rich. This path implies, you must be persistent in trying to make money. You also need the intelligence to keep their job (which generate the money). That means you need to understand exactly what you are doing and why you do the work. Besides compounding also means you need to have knowledge of mathematics to be able to calculate the income you have and manage it appropriately. In addition, the financial success takes time, and not the instant success that lasts only temporarily.
4. Undergo these four professions
Valentino said the four professions in the world's richest people are:
* Entrepreneur
* Stock broker
* CEO / Managing Director of a company.
* Door to door sales staff are paid on commission from the sale.
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