Ebo Yawson writes
23/02/2020.
The discipline of wealth creation.
Success is predictable, so is wealth creation, life is predictable. Things always don’t sometimes happen, we can sometimes predict the outcome of an event from it beginning.
Most rich people created wealth using principles, and laws that most people are not willing to observe and obey, simple because they think it difficult, becoming rich or wealthy don’t happen overnight. It takes the boldness and courage to be discipline to create, manage and grow wealth. The ability to delay gratification for a better tomorrow is a force to use in wealth creation.
Here are 5 tips to use in disciplining our self towards wealth creation.
- See the future from today with your mind. (mental picture of the good future)
Everything good and bad take it genesis from the mind. The mind is the pivot of creation. One need to see the future from today by having the hope and believe that saving and investing his or her money today will lead him or her to have a good and a better tomorrow. Without a good mental image of what you want to be financial ,you can’t discipline yourself to create wealth.
The future image will bring the willing and the desire to create that future. - Start investing today don’t start tomorrow.
Have you had the power of compound interest, it one of the greatest invention, but this principle of compound interest only becomes important when you put into practice for a long period. One don’t need One trillion to start investing, one need to start with the little that you have in your hand now, and it will grow to become great, it also called the seed principle, every big tree you see today was once a seed or a little tree, wealth building takes a long time, so why not start today, and that start today requires consistency in savings, investment and reinvestment, it not easy, but it takes discipline to start, and it good to start today, we only have one-day in a year, and that day is today, tomorrow will never come and yesterday is gone and will not come again.
Start now with a little percentage of your money and make it a habit . - Budgeting.
Most people thinks rich people are wicked, and stingy. But that is not so, most rich people are the real givers of this world. Wealth is built with a plan, and if you don’t plan the use of your money someone will misuse it for you,
Budgeting your money and sticking to the budget plan is one of the most amazing methods rich and wealth people used in creating wealth. I believe in 70,10,10,10 principles of budgeting (Will debilitate more on that in our next article)
Most people look at a budget as a tool for deprivation. But at its core, a budget is simply a tool for telling your money where to go so, it’s used as efficiently as possible. When you use a budget to eliminate financial waste, you have more money to spend and invest for the future. You will never spend more than you make so eventually, you’ll have the rich life you want.
- Pay yourself second after Giving to God or charity.
Most people think let me pay first my debt first before, I will use what is left, but it doesn’t work that way, paying yourself is putting money aside to work for you first before you pay your debt,
You can use automatic deduction from your bank to investment account.
(more on this soon) . - Live on less than you make. Or live below your means.(delay gratification)
Saving, and investing money requires delaying Your enjoyment today For the future. And it takes discipline to be able to do that . Delay gratification not eating your egg when you have it, but hatching it to have more hens to lay more eggs for you.
It takes discipline to be wealthy, wealth is not created in a day but, wealth is created by application of financial principles and laws on daily bases, There’re no secrets to wealth creation, but principles and laws that only a few people (rich 0.1% people) are willing to discipline themselves to obey, and observe.
Let join those doing it by becoming discipline also to create wealth. Because it possible.
Ebo Yawson
The financial freedom coach.
0541360633/0240868357.
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