Build Daily Wealth Like A Millionaire Build True Wealth Today In 5 Simple Steps!
So here you are, learning about daily wealth and how to build it. What you are really learning is a new set of habits and thought processes with respect to money.
You see, the only difference between those who generate poverty and those who generate wealth daily, is how they think about (and do with) money!
Sadly most money-making people don't keep track of where it goes! Money is like your army, and your mission is to build a solid financial foundation for yourself and generations to come.
But, if you don't know where your troops are going, how can you possibly account for them and lead them towards daily wealth? ;-) Or worse, most people let their money lead them! That won't do!
In the words of B T barnum:
So one of your first steps to building wealth daily is:
Daily Wealth Tip #1: Keep Track of Your Cash Flow!
The most important thing that you can collect are: your receipts! One time I had dinner with a millionaire. We went to a restaurant and he picked up the tab.
After paying, he asked for a receipt, and put it in his wallet, where I noticed a bunch of receipts (which were his receipts for the day I presume).
How about you? Do you keep them and note the amount down in a special booklet? Or do you file them in the trash?
I recommend keeping receipts, writing the numbers down in a planner or financial booklet for yourself, and keeping track of your expenses throughout the month.
Know what your money is doing, and lead it towards daily wealth. Don't let them lead you like most people. Learn to master your wealth daily, and you will build a a solid financial foundation!
Daily Wealth Tip #2: Pay Yourself First!
When you've got money coming in, what do you do with it? Most people say: "I'll pay more bills" or "buy something WITHOUT using my credit card!
So as your building true wealth, you pay your bills, and pay taxes, but do you pay yourself? The wealthy do. They pay themselves first. They have their own taxes that Kiyosaki likes to call your:
- Investment tax
- Vusiness tax
- Savings tax
Whenever you get money, you want to take some of it, and put some of it into an investment vehicle (such as silver, or stocks, or even yourself), a business (either into your own business, or aside to pay for your own business), and savings (just be careful as currency is no longer money and, your currency loses value daily.)
What's very important isn't so much how much money you put into these taxes, or when you pay them. What's important is the priority you give them, with respect to other things in your life. Do you pay these taxes before or after you pay your debts?
Let me tell you about my situation. It wasn't until I chose to focus on my own wealth first that I started turning debt into wealth.
You see, with this small habit of paying yourself first that stays with you for years on end, will definitely take you towards the way to wealth.
It's how they say:
Let me re-iterate that:
True Wealth Tip #3: Take Your Money Out of the Bank
A big mistake that most people make is that they leave all their money into one bank account. After using their debit card a few times, they're surprised that all the money's gone!
First off, trusting the bank with your money is something to think twice about nowadays.
Secondly, consciously taking your money out and putting it into separate accounts helps you keep track of your daily wealth and adjust where the money flows as necessary.
So what I recommend doing is taking your money and putting it into different accounts.
Some of the money going to your investments, business, and savings account, and the rest going towards your bill-paying account, food account, etc...
The Key is to have your money available and have a plan for your wealth daily.
True Wealth Tip # 4:Think Twice Before Spending!
Have you ever been to a store and bought something that, a day later, you caught yourself either:
A/ never using it
B/ never seeing it again
or
C/ both
Too many times when we make money, we tend to spend it on things we don't need to impress people we don't know, after working at jobs we don't want!
One habit that will make sure that you preserve your true wealth, is to stop and think before you buy.
It's easier said than done, that's why I say that you need to tell yourself this:
"If in an hour I still feel like buying this, I'll buy it!"
More often than not, you will hold yourself back. This habit will make sure that you spend more of your money to build daily wealth.
Also, if something says Limited Time offer! then do yourself a favor, and let it go.
Daily wealth Tip #5: Give to a Charity You Support!
One of the fastest ways towards attracting wealth daily is to give a portion of it to charity.
A big mistake people make is that they only give to charity when they have a few pennies and put it in a small box with a picture of Ben's Kids. (come on, we're all guilty!) ;-)
I'm not saying that giving money to that cause isn't good - but I am saying that if you really want to attract true wealth through giving to charity AND genuinely feel good about yourself: give to a charity you support.
For example, when I first started I gave money to an entrepreneurial-supporting website called Kiva. I fully support this group, and when I started I barely donated 1% of my income.
As you can imagine, nowadays I am giving a bigger percentage of my money, and because of that I am both attracting wealth daily and feeling better about myself.
So in conclusion: Do yourself a favor, and make these 5 habits a part of your life. I garantee that you will see changes happen to your life, and you will start to build wealth daily!
