Updated: Nov 19, 2020
Wealth is a concept that can be created, grown and maintained. One very good thing about wealth is that, it is non bias irrespective of your gender, religion, nationality, age, financial or family background.. You can create your own wealth, grow it, and maintain it.
All you need to do is to understand the rules of wealth and keep them.
Wealth is an abundance of valuable possessions which may include knowledge or money. We all pursue and desire and fiercely protect money because we can buy a good deal of pleasure and solve a lot of problem that can lead to unhappiness but money can not buy love or happiness.
There are few practices that could guide you to grow and maintain wealth, these are referred to as The Rules of wealth. When these rules are obeyed, you're already on the journey of acquiring prosperity and abundance. Some of these rules are things you already know but you're not doing them yet or not conscious of them. Let me walk you through these rules of wealth .
7 Rules of wealth: the journey of prosperity and abundance.
The 7 rules of wealth creation does not include every practices that influence wealth creation, growth and maintenance. Wealth creation is a concept that requires time, attention, patience and persistency and it is not something that will only take a day or two to be created, it requires patience. If these rules are properly kept, it will shorten your journey of acquiring prosperity and increases your chances of becoming wealthy. Let's jump into discussing these rules.
Our actions in most cases are governed by our thoughts, we do things that we like, hang out with people we love and care about.
One cannot really go far if his thoughts are closer to him. It's also applicable to getting wealthy. Your thoughts must be rich if you must become rich. Your thoughts give rise to your reality.
It is very important to know what you want, why you want it, how you think you are going to get it, what you are going to do with it after you have gotten it. Its not going to be easy but it will definitely be achievable.
Decide on your definition of wealth
Your definition of wealth will decide your inputs toward achieving prosperity and abundance.
What does the word wealth mean to you? What you have considered as wealth is totally up to you. Richard Templar looked at wealth as having enough so that you don’t have to worry about not having enough. For some people, not worrying might mean having enough to pay for any emergency that might arise in their family or home. So how will you define it? This could also be your definition of being wealthy and you could also add figures to it or define it using figures.
This has to be defined, otherwise, you will be like a man who set on a journey without knowing where he's going.
Draw a baseline for comparison
This rule states that there should be a basis for comparing the present with the future (your definition of wealth). This instrument helps in measuring your success and it's base on your definition of wealth.
Set your objectives
Now that you have a destination (that is, you have defined wealth), It's time you choose the road(s) that you can follow to arrive at your destination safely and timely. Your objectives are the pathways (things you do) to achieve your goals. This is also applicable to getting wealthy. You will have to know in advance what wealth means to you, how you intend getting there, how long you expect it to take and what you are going to do or want to do with your money when you get it. Think about how you intend getting rich and how long it is going to take you and then set your objectives. It might be simply: ‘I am going to be a millionaire when I am Thirty and I hope to make the money by running my own procurement and supply chain system company.’ That's quite simple right? Oh yes!. The truth is, it may not be this simple in reality.
Keep your spending in check
Check your spending, ensure your spending is not more than what you get, remember to let your money work for you. You know money begets money, invest your money in real businesses.
You may have enough money but it leaks away before you get to spend it. In a whole variety of ways; taxation, paying interest, lack of use (not invested properly), too much being spent on the wrong things. Before you can control your finances you have to stop the leaks.
Invest to accumulate
Getting wealthy involves whole lots of sacrifices, it involves sacrificing your pleasures and good deals for investment in other to enjoy later. The joy of it all is that when you start reaping the benefits, people start seeing you as the lucky one not knowing how much you have sacrificed. Remember, If you don’t bet, you don’t win. No, no, no. I am not suggesting gambling in any way. What I meant by that statement is, You need to speculate with your time and effort, forethought and planning, energy and dedication. The more you put in, the more you’ll get out. Invest your time and effort until people see the outcome of your investment and tag it as luck. Call us for Business Development planning.
You can have the best of the plans in the whole world but without action (work), it is as good as nothing. Your plans, goals, objectives must be backup with action because without work, these cannot be actualized. It's important to point it out here that combination of working hard and working smart is the best option to go with.
This will produce a faster and more accurate results than working hard without working smart. It's time you get your work noticed and the very best way to get your work noticed is to be very, very good at your job. And the best way to be good at your job is to be totally dedicated to doing the job and ignoring all the rest. Don't stand still in your work,
do things extraordinary, try to learn new skills and new ways of getting your work done.