Hello! my friend am glad to invite you once again in our blog which always we meet to discuss all issues about success, we do this because we need to see all people to become financial independence. My friend all the i hear many people complain about others about their success, let me tell you one thing success and failure are belong to so your the only one who decide what you want in life, no one can block your success than yourself.
Today let us share about how to become financial achievement, my friend many people they they fail to success because they fail to achieve financially, so let us share together the steps on how to become financially achievement.
1. Develop a written financial plan
Saying you want to be wealthy isn't good enough. You need to come up with a workable plan and put it on paper.
"The written plan forces you to do something," Welch says. "Calculate what you need to earn and how to invest. The plan isn't just the goal, it's the whole thing -- the dream, the goals, the options. The options are scenario planning -- all the ways you can accomplish that goal -- open a Roth IRA, contribute to a 401(k).
2. Save, save, save
The end result of your financial plan should be systematic investment. Get in the habit of saving money. Build an emergency fund in a money account so you don't have to raid the rest of your savings and investments when there's an unexpected major expense. Make it a point to save at least half of every pay raise.
3. Live below your means
Don't be a walking billboard for overpriced designer clothes, shoes, sunglasses or jewelry. Don't allow your house or car payments to be budget-busters.
4. Lay off the credit
Some people say that if you can eat it or wear it, don't put it on your credit card. That's good advice, but take it further. Try not putting anything on your cards that you can't pay off in 2 or 3 months. You need only 1 or 2 credit cards. If you have a fistful, pay them off. Remember, debt holds you back.
"It reduces cash flow for other things, including investing," says Welch. "If no one gave you money to borrow, you'd be better off and the economy would be smaller. If they only let you borrow 75% of the value of your home, you'd be a heck of a lot better off."
5. Make your money work for you
It takes money to make money, but that doesn't mean you need a lot to invest. Open an account with a mutual fund company that has no-load funds and low expense ratios. Build a diverse portfolio and you can reasonably expect to earn 8% to 10% annually on your investments over the long haul.
6. Start your own business
Dear friend if you want to achieve financially you must start your own business, in the world millionaires they establish their own business. In the 1996 book "The Millionaire Next Door: The Surprising Secrets of America's Wealthy," the authors state that two-thirds of the millionaires are self-employed, with 75% of them entrepreneurs, and the remainder professionals, such as doctors and accountants.
Forget inheriting a pot of money; entrepreneurs create most of the wealth in the country. Most millionaires in the making, 8 out of 10, earned or increased their assets on their own, a 2015 survey by Fidelity Investments found. That's true for millionaires and millionaires 10-times over, as well.
So take it my friend to become successful and financial achievement fall this steps and put it into the practice, always we say that your mind is your destiny if you think positive you become success and if you think negative you fail to success, wish you all the best my friend.
Author: Mwasyeba Fanuel
Contact: 0717262705/0683636572
Email : fanuelmwasyeba@gmail.com