Here are the 3 basic habits to get rich

Tom Corleycollaborator of the American newspaper Cnbc decided to conduct an in-depth study on the habits of rich people. To achieve the goal he has interviewed hundreds of millionaires. The work lasted 5 years. At the end Corley was able to locate the 3 fundamental habits to build a capital.

SAVE AT LEAST 20% OF YOUR REVENUE
Each millionaire involved in the study has consistently saved 20% or more of their financial income. Employees achieved this by automating the withdrawal of a fixed percentage of the salary. Even entrepreneurs who have realized their dream of starting a business once they have achieved success, in the form of free cash flow, have started saving at least 20% of their earnings.

BE EXTREMELY FRUGAL
The second principle is closely related to the first. For the millionaires who worked as employees, frugality began the moment they received their first paycheck. For entrepreneurs, frugality began when their companies created enough cash flow to allow them to save and invest.

Corley made it clear that being frugal requires between things. Awareness of how you spend your money. Concentration on quality or use of money to purchase quality products and services. Buy cheap or spend the least amount possible by making purchases at the lowest price.

INVEST YOUR EARNINGS IN FINANCIAL MARKETS

All millionaires have constantly invested their savings in the financial markets and this over time has increased their wealth over time. Again, the rule was followed by employees and entrepreneurs.

Source link

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

Check Also

Borsa Italiana, the commentary on today’s session (5 October 2022)

Bank stocks take the downward path. The BTP-Bund spread widened beyond 235 points, with the …

Leave a Reply

Your email address will not be published.