Are you stuck in the middle class ?
In this article I will teach you how to work your way out of your current situation and possibly enter the world of the 10% of the population that posses most of the money in circulation....
Before I begin, I would like to state that I am not in any way an expert in this subject, the following is only an expression of my opinion in which I have gathered quite some knowledge about over time.
So let's start...
Over the years, the cost of living has gone up dramatically compared to previous decades. While that has been happening, people's income have not grown proportionate to this inflation (cost living) which in time this has caused people to not afford their normal way of living and actually down size beyond their means.
What this implies is... people are going from living well to diminishing their ability to live more freely and have options, where the people that were already living beyond their needs are actually now losing their homes. The rate of home ownership is reducing as we speak and more home owners are renters and some renters are actually homeless, which leaves us to believe that the middle class is slowly getting eliminated.
WHAT YOU WANNA BE DOING IS....
- THINK BIG !
If you wanna be big, you must THINK BIG... It all starts with a simple thought, an idea. VISUALIZE GROWTH AND PROSPERITY for yourself. Begin to think of ways to help yourself slowly work your way up into the higher class bracket ( I will cover ways to do so in future articles) Use your imagination, that's why we have one. After all, we are the authors of our own stories!
- FIND YOUR NICHE AND AREAS WHERE YOU POSSESS THE MOST EXPERTISE.
Find something that you're knowledgeable about and have courage to be self employed and start a business according to the skills that you possess (I will talk about how to use your skills to prosper in future articles)
- LEARN HOW TO BE "CHEAP"
I know what you're thinking, being cheap sounds bad... but actually, being cheap is THE ONLY WAY to become financially stable. DONT BE AFRAID TO BE CHEAP. Ask yourself if you really need something before buying it. Here's a little tip for you... Almost every intelligent rich person out there only invest their money into things that "GAIN VALUE IN TIME". (do not invest your money in things that rot, rust or depreciate over time)
- "CREATE A PASSIVE INCOME"
Creating a passive income will help propel you into a much richer lifestyle due to the fact that it is an income that will require the least of your energy, leaving you with time to focus on other methods for making you more money.
Having a passive income will be extremely important to carry you into the next level. In a few words... Find something that you can set up in a way that will generate income while on the other hand doesn't require most of your time. Here's a couple of ways that provide passive income: Real estate, cryptocurrency or stocks.
@GrantCardone said " Invest in you first, then in Real estate." Wise words from a very wise man. If you don't know who Grant Cardone is, he's a master of sales and of multi family real estate investments.
- CREATE A BUDGET FOR YOURSELF
Having a budget is very important if you want to grow financially. It will guide you and help keep you on track of your finances. Every single dollar needs to be accounted for. Don't be a consumer, be the merchant !
- SAVE SAVE SAVE !
But not with the intentions of keeping it for retirement ... SAVE TO INVEST !
This is one of the most important things to master to get yourself on the path of success; You must learn how to be a saving machine!!! Saving is going to be the most important thing for you to get out of your current state. (Don't worry, I will talk about some saving strategies in my future articles that will hopefully help you)
- READ THE FOLLOWING 3 WORDS CAREFULLY... " INVEST INVEST INVEST "
No investment is too small, start with what you can afford in your current situation. Investing your money is where you will begin to grow richer financially. This is how 99.9% of the wealthiest people on the planet have become rich and GET RICHER every day. Having an investment strategy will definitely be an excellent way to gain profits (*or lose some profit, so be extremely wise with your decisions)
Investing your money is the only way to catapult yourself into a better financial situation.
You must come up with a way to make your money "WORK FOR YOU", not the other way around.
- GROW YOUR INVESTMENT!
This can be quite tricky for most people but will be extremely important to try and master as best as possible. Continuously looking for new ways to step up your game and keep growing your investments will be a key factor in determining the uprise of your growth. .
- KNOWLEDGE IS GOLD
Having the proper knowledge will earn you higher rewards. You should start learning more and gaining more knowledge. Warren Buffet, "Learning more = earning more"
Having a great amount of knowledge will help you make the most appropriate decision during a time where it will be needed the most.
Master yourself to grow masterful !
Well Steemians, that's all for now. I would like to end this with a magic word that I hope will remain implanted in your mind, "INSPIRATION", inspiration is extremely important for success, the feeling of being inspired will drive you right to the top in no time. Find a reason to be inspired. Accomplish certain missions you have and constantly remind yourself why you're doing what you're doing. Keep the feeling of inspiration and use it to prosper and become successful.
I would like a to thank everyone who's taken the time to read this article. Much appreciated and I sincerely hope this has helped you.
Best Regards!
@FrancescoP