Mr. Nget Chou is a financial expert and an active investor in the real estate sector. Chou often shares knowledge and tips that he thinks are useful for thinking about business, finance or investment. Here are four short steps you can take to begin the process of preparation for building wealth.
1. Change negative thoughts about money
Like thinking that today I have no money, but in 10 years I will have a lot of money. Wealth is not a destiny, but an effort of ingenuity and an understanding of opportunity.
2. Pay off bad debts. Stop buying unnecessary things
These debts are high in interest, and items bought in installments, such as cell phones, cars, and electronics, are depreciating rapidly.
3. Change the attitude about using money effectively
The money earned is divided into two parts: rice and seeds. Rice means to spend only what is necessary, like people need food to live. The seeds are invested to make money. If 40% of the money earned is rice and 60% is seeds, then you are not poor.
4. Use the money you have to invest
To make money, you may want to consider making it through investing in stocks (Stocks), investment in real estate, investment in a mutual fund management company (Fund Management Company), etc.