How to Become Rich

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I think there is only a small portion of the world population that does not long to become wealthy. I think almost everyone wants to be rich.

When I was little I really wanted to grow old quick and finish college for one reason. I wanted to get rich. I wanted to buy anything I saw on TV. I wanted to go to places anytime. But later on, I learned that earning money is difficult. And that becoming rich is even more difficult.

Some stories were told that having a college degree is a guarantee to have a better life or even to become rich. But some of the billionaires of today are not college graduates. One example in particular is Michael Zuckerberg, the founder of Facebook. He became very rich when he was at the age of 26. He was an undergrad. So, in contrast to what I made to believe, anyone can become rich regardless of educational status.

In my little curiosity to find ways to become rich, I met the following tips that I would like to share:

  1. Make investments. The earlier you start investing, the better. There are so many things worth investing. One of which is buy and sale business. If you have a quite large capital then, real estate’s business is a great suggestion. If you are not that enthusiastic in managing a business like that, you can try investing in stock market. It is very risky though since stocks are highly unstable. But once you learn how to play with it, it will give you back hand folds of your investment.
  2. Learn to live a simple life. This means a lot of things. Regardless of how much you earn, you need to save at least 20% of your income. Put it in a bank for safe keeping and interest earning. Then you have to keep track of you expenses also. Sometimes, we fall short on spending more than what we regularly earn. Why? Because we feel that we need to satisfy our wants. Living a simple life is having things not more than what we need. Every time you think of buying something, ask yourself “Do I really need this?”. Of course you would convince yourself to buy it. Try to list the objective reasons of buying it. And instead of resolving to directly to buying, as much as possible be resourceful.

There are so many other tips available anywhere. But most of these are “common sense” ideas. Above examples are the most obvious and I think are the most practical tips. Whether you apply these or not, becoming rich still depends on you…

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