How to Become Rich

I want to do this, I want to do that, become rich or wish one fine day Money Grows on Tree

You must have found lot of people talking about becoming rich and having financial freedom either with their jobs or in business or while smoking, talking, chatting. For this they must have be talking something about doing some business, insurance agent, starting envying someone making money, to ending by going back to their jobs and next day starting again from where they started.

But whenever they try to do something they fail because either they fall short in commitment,  planning, passion or it was just a wish and not a strong desire to succeed. Definitely you can't grow Money but definitely make it Work for you.

So, even if you are short of money and time, as a beginner follow these basic steps:

1. Identify your potential, what you are GOOD at,
2. Set a TARGET what you want to achieve,
3. Check what resources are Available to you,
4. Start working on it with Commitment, Hard Work, Persistence
5. Start Tracking, Don't Loose Focus

What are 10 Financial tips and area where you can learn and earn :-

1. Stock Market- May be a good idea if you have an understanding of companies business, financial numbers, stock trends. Like Warren Buffet said investing in companies requires long time to ripe the benefits of patience.
2. Mutual Fund - If you are not good at stock market investment which involves a lot of risk, go for Mutual fund investment where your money is managed by specialized financial advisers and professionals. These mutual fund adviser invest the fund in diversified areas of market like equity, debt and other government instruments. So you as an investor based on your risk appetite can decide where to invest your money. Mutual fund investment usually target to maximize the profit for investor and for themselves. Good Example of MF investment- If MF House or Manager invest in FMCG company, they may like to have consistent stable return on investment. They may invest in Tea/coffee and Ice cream companies so that with seasonal changes the return on investment (ROI) is not effected, which means when one business. (Tea/Coffee) is down in summer Ice cream business or share will perform and vice-versa.
3. E-commerce portal- Use and learn different ways of doing business on e-commerce along with learning and earning money and reputation in society,
4. Find and work on Niche Ideas : Find Solution in Problems of people
5. Learn the art of investing- Learn to invest along with saving, observe, follow and invest small and learn for bigger dream plans
6. Don't hesitate to ask or seek professional advice- atleast it is better than loosing money.
7. Stop spending unnecessarily unless it is required
8. Invest in learning and yourself that can help you achieve more and become richer
9. Share your knowledge and Network, because Network = Net Worth in current market.
10. Don't Just Plan - Start Now

Always remember there are No Shortcut for success...

Do share this post if you like someone else also to read this article. I would be happy to connect more and share my experience & knowledge to learn further from you.