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Earn, save, invest. If you want to get rich, those three things always need to be on your mind. In that order too. I really didn’t understand this until I started a small business Back then in my diploma days with my friends. We kept on struggling with funds and how to manage the profit we made.
It took me time to understand these 3 habits because i could remember this lead to inconsistency in the business and I needed to go back and strategize .I can tell you today this has really helped me and I would share some tips on how you can go about these habits.
It’s really not that complicated. You don’t even need to earn a lot of money to become wealthy if you have healthy financial habits.
The habit of earning moreI believe that increasing your earnings potential is a way to build wealth faster,The more we learn, the more value we can provide to other people and organizations,and that’s how we earn more. I see earning more like a habit. Every year, I want to learn new skills and ways that increase my earning potential. I don’t look at the amount of money I make. I look at whether I’m making progress. That’s what matters more than anything.because the more I can offer the more I would earn .
The habit of saving more
The biggest mistake is to save the same amount of money if you earn more. When I started, I could only save 10% of my income because I didn’t earn that much. But every year, I could save more because I earned a bit more. But don’t only focus on saving .
The habit of investing more
The biggest mistake I’ve made with investing is that I was never consistent.i started a business 2018 and I didn’t even reinvest the profits I made from the business .
But around 2020 I started becoming consistent with investment not only that I also started looking at investing as a habit that only pays off long-term. I overcame my fear of losing money.
But don’t forget , I started with earning more, then saving more, and then I started with investing. People want to skip the first two steps.
They want to get rich overnight , they want to buy real estate without putting money down .
Ultimately,building wealth comes down to our habits. If we have healthy financial habits, keep developing ourselves, and invest our money wisely without taking big risks, we will win.
I hope this helps every business owners and entrepreneurs out there 🙇.. thank you for reading ❤️
Aggh, I am also not saving anything for myself or for my future. I know I will regret this in the future. Well! you raised all the valid points of getting rich and I agree with all of them.