Five Steps towards Prosperity and

Wealth
It is no wonder that every soul on the planet is literally pursuit of
wealth and riches. By taking footprints of wealthy and rich people
on earth we can ascertain five common and successful steps which
are essential to accumulate riches and to become happy and
wealthy.

Try To Earn More Money:

The first and foremost step towards success in terms of riches and
money is to earn money. This is the first and start of the process
of getting rich.try to do smart work along with hard work.
In the pursuit of prosperity and riches you must develop yourself
in a way to work more than usual so that you may have increased
money, try to earn more money than your need.
In this modern era of science and technology world is growing so
fast. Opportunities of earning money are also increasing.
For taking a first step of increasing your income you need to
educate your self. Try to learn extra skills in order to develop
yourself. Don’t stop learning and trying.
If you stop learning your progress will get stop as well. In this
modern era several works which can perform through your
computer screen or online.
Freelancing is a major source for online work. If you are not
comfortable in free lancing then try to find a part time work or
extra work.

Focus On Savings:
It is a fact that your growth is measured in terms of money and
savings. If you hardly meet your expenses than most likely you are
not going to make progress in terms of money and riches.
In contrary if you could save pennies from ACTIVE INCOME, it
may preparatory of your base for PASSIVE INCOME. I would
discuss about passive income later.
According to economical experts easy way to save money is to
follow the pattern of money flow which is “SAVE FIRST SPEND
LATER”. Which means before spending or making expenditure
you must save your desired portion of income.

Make Investments:
Third step towards attaining money or riches and prosperity is
“MAKING AN INVESTMENT”. In the quest of prosperity or
riches, it is necessary to start your PASSIVE INCOME.
Active income represents the income a person acquires by
performing his or her primary job or duty and work. This is also
call straight income.
In contrary to active income, passive income is an income you can
acquire by making additional investments. An income you may
acquire without putting yourself in an extra effort.
Investments are to be made wisely. “DON’T PUT YOUR ALL
EGGS IN ONE BASKET”. You can make small portion of
investments called investment pool. Let your money work for you.
Money makes additional money. Successful people and
millionaires let their money to work for them.
It is an astonishing fact; a person can become wealthy by doing
business. Don’t let your saving idol; put your saving in
investments for PASSIVE INCOME.
If you keep your saving idols and don’t invest it means, your
saving are getting reduced with the effect of inflation. Inflation is
a major factor effects on NET WORTH of a person.
Don’t wait for inflation to suck your savings, let them invest.

Try To Purchase Assets Not

Liabilities:
If you really want to become wealthy and happy in terms of money
you need to focus your spending. Try to spend your income or
saving in purchasing an ASSET not LIABILITY. If you purchase
an asset it increases your net worth.
Assets are more likely to generate more income for you. But if you
purchase liability, it is not going to increase your net worth. For
example if you purchase a land which is an Asset. You can use
your land to make more money for you.
Prices of land or real estate are hiking day by day; it will make an
increased in your net worth. You can use your land for making
house to give rent to people for living so you may earn money.
In contrary buying a liability will not make an additional income
but decreased your net worth though. So try to purchase Assets
not liabilities.

Adopt Simplicity:
Fifth step towards riches is to adopt simplicity. If your life pattern
is “INCOME IN = INCOME OUT “then most likely your net worth
will not be raised. Simplicity is foremost factor in prosperity don’t
spend too much till your investments bear fruit and your balance
sheet rises.
For simplicity you need to avoid competition of status, class and
luxuries. Don’t compete yourself with others in terms of expenses
clothes, cars, jewelry etc. Try to become focused on your
spending, try to control your expenses.
Focus on savings, investments and passive income. I have seen
many fellows who are under dept due to having behavior of
competition.
When your liabilities are less than your assets and income you will
inevitably become prosperous and wealthy.