Let’s take the mystery out of achieving wealth. This purple piggy bank is the perfect visual to illustrate my wealth-building basics.
You can’t achieve great wealth, if you leave out making, saving, spending, donating, and investing money. Unless you receive a giant inheritance. In which case, I’ve witnessed people blow through hundreds of thousands of dollars, as they lacked wealth building and maintaining knowledge, and/or a wealth mindset.
Whatever it is you make 40k/year, 100k or millions, the same wealth-building strategy apples.
$ – Save first, even if all you can save is $100 a week.
$ – Spend second. Spend on your rent, mortgage, diapers, food, etc….
$ – Donate third. Now if you are really up against it, donate by throwing in some change into a tip jar. The point here is to practice consistency giving back. As money is a currency, it’s also an energetic exchange. The more you give, the more it trains your mind that there is an abundance of wealth available to you at all times. $ – Invest. As your savings account reaches a certain set point. Let’s say three months living expenses (for example), anything above that amount rolls into an investment account. Investing also means investing in growing your career, starting a business, your personal development. It doesn’t just mean a stocks and bonds portfolio. Investing is assessing what will give you the best return on your money, with a level of risk that still allows you to sleep at night.
$ – Obviously everyone’s life, goals, bills, health, etc looks different. So wealth building IS NOT a one-size fits all; in terms of what percentage you should save, spend, donate, and invest. To avoid participating in these 4 categories will pretty much guarantee you WILL NOT get wealthy or even financially free.
$ – Baby steps are good. That’s better than no action at all.
? Wishing you wealth, health, and worth, always.