There are many rules for wealth creation out there but here we will be talking about the bed rock rules of building wealth. You must write it down and inscribe it into your memory and subconscious.
First Rule: You must learn to live upon less than you earn. Meaning, live below your means. Don’t buy expensive things to impress people. Cut cost so that you can save. In other words, this rule is specifically talking about spending excessively and unnecessarily beyond your financial capability just because you want to fit in or show off, rather you should spend little and save more.
Second Rule: Seek advice ONLY from those who are COMPETENT through their own EXPERIENCE in your area of SPECIALTY. Meaning, before you venture into any business, seek advice of people succeeding in THAT business.
Below are guides to achieving that.
1. Don’t take business advice from employee.
2. Don’t take transport business advice from cloth dealer.
3. Don’t take financial advice from broke person.
4. Don’t take advice from someone who have no experience in the challenge you could face.
Rather seek out for people who have EXPERIENCE, EXPERTISE and OVERCAME those challenges.
Third Rule: Learn how to make money work for you. Meaning every money you earn, a part of it must be sent to work to earn more money, after following the second rule.
Money must make you more money. Don’t put money in bank, put it in business or investment to produce residual or passive income and streams of profit.
Conclusion: If the above have been strictly adhered to then can you actually qualified to handle wealth.
Did you learn something?