By Getrude Matayo
Building wealth can be one of the most exciting and rewarding undertakings in a person’s life. Aside from providing a more comfortable day to day experience, substantial net worth can reduce stress and anxiety by freeing you from worry about food on the table or being able to pay your bills.
For some, that alone is enough motivation to start the financial journey. For other, its more like a game, and their passion for wealth building begins with their first check
Change the way you think about Money
The general population has a love/hate relationship with wealth. Some resent those who have money while simultaneously hoping for it themselves. No matter the household you grew up in, the key is to push to move past selling your labor (work) to making your money for you.
Understand the Power of Small Amounts
One of the mistakes most people make when trying to figure out how to get wealthy is that they think they have to start with an army of funds. Small funds can eventually become millions of shillings as long as you see the potential and start saving.
With Every Shilling You Save; you are Buying Yourself Freedom
Money can work for you and the more of it you employ, the faster and larger it can grow. Along with more money comes more freedom, the freedom to stay home with your family, to retire and travel around the world, to quit your job.
Building Wealth Takes Time
Some people are reluctant to make a wealth-building plan because they don’t want to wait more years to be rich. They would rather enjoy their money now. Where you are right now is the sum total of the decision you have made in the past. Your life reflects on how you spend your money.
Consider Becoming Owner
One of the big intellectual and emotional hang-ups people seem to have when they aren’t exposed to wealth is making the connection between productive assets and their everyday life.
Study Success and Those Who Achieved It
Look for financial lessons not only in real-life examples but also in literature, film, TV, and other stories. These financial parables will help you understand the sometimes-complicated nature of investing for long-term gains. You’ll find that by investing in yourself, the money will begin to flow into your life.
Pay Off Debt, Save and Invest
To achieve financial freedom and success, which your family may or may not have had, you have to do two things. First, make a firm commitment to pay off any debt you have.