Driving a Ferrari, living in a Mansion, eating at 5 star restaurants, and indulging to other luxurious things, for many this is the standard of living a rich life.
I would not argue with the meaning of richness, but let me share my experiment in getting rich financially.
Here are ideas that I'm trying to explore;
1. Pay all debts. Living a debt free life is like sleeping with a peace of mind. I'm on a process of eliminating debts.
2. Learn to live simply. Spending at a minimum possible, living expenses should be 30% of income. I started with car lift instead of rent a car, from 1600 aed plus petrol down to 700 aed or equivalent 12, 398 php savings.
3. Make money work for me. Keeping my eye on investments with more than 8% ROI in a year. It can be a stocks, franchise, and start up business.
4. Create multiple streams of income. Focus on creating money machines such as rental properties, royalty on books, and blogging income.
5. Join a business venture or partnership. I'm working on a business idea that focus on helping others achieve their dreams.
I'm looking forward to your financial success.
To God be the Glory!!!
Jonathan I. Ruiz CPA