Saturday, March 20, 2010

TWELVE LAWS OF INCREASING WEALTH

But thou shall remember the Lord thy God: for it is He that gives thee power to get wealth….Deuteronomy 8 vs.18. It is necessary that you have a burning desire and a definite plan with minimal risk to increase wealth. You should now slowly read and digest the laws that follow.

  1. Identify, develop your talent and skill: you can achieve this by reading books and having mentors. Try out this books richest man in Babylon by George S. Clason and Rich Dad Poor Dad by Robert Kiyosaki.
  2. Don’t spend more than you earn: never borrow money to eat, buy clothing, etc. you need to know now much you earn and how much you spend. Don’t buy things on impulse. Spend more money on assets and not liabilities.
  3. You must learn to save money (compulsory at least 10% of your income).
  4. Create for yourself multiple sources of income.
  5. Take calculated risk: you must understand as a business person that life itself is a risk. Look out for opportunities that will take you to the next level. Poor simply mean passing over opportunities regularly.
  6. You must learn to invest: the richest group of people in the world is investors. You must learn to overcome fear to invest. Learn never to fear failure.
  7. Increase your financial intelligence: The value of man is what you can offer and it is dependent on what you know.
  8. Learn to budget. This is to be treated very importantly and must be done often that is, daily, weekly, monthly, etc.
  9. Write down your financial goals: set goals for yourself, what you want to achieve today, this week, this month, etc.
  10. Belong to a network of up going people.
  11. Get an idea and put a plus on each day: what you see matters, learn to see good. Ideas rule the world.
  12. Partner with God. See you at the top

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