What money advice: can you learn in 20 minutes to help you become rich? Here discussed 19 wise money tips to make you rich painlessly but with ironclad willpower. Napoleon Hill wrote: “to become rich consist of doing.” Thus, get the wisdom here and act on it. You will become rich.

1. Live below your means-Don’t live above your means
You have heard it. To improve your financial ability spend less than you earn. In other words – live below your means. Spend 70% of your earnings save or invest the balance. Baby – It’s that simple!

2. Money is only a tool
Money is no different from a car, spoon, or any other tool. We use tools to simplify and complete a certain task. Treat money as a tool and you will achieve a lot of successes with it. The money will do whatever you want it to do without complaining. Money is liquid and thus likes to move. It will take you anywhere and everywhere. You need to drive money and never allow money to drive you.

Money Rule:

• * “Never lose your money” not under any circumstance
• * Never forget the rule of money

3. Self-improvement – invest in yourself
The most important thing you can do for yourself is to continuously improve your standards. If you want to become rich invest in the following areas;

• Education – to fit in with your peers and community expectations • Health – to be able to tackle tasks ahead • Physical appearance – to look good, sharp and respectable • Knowledge – to become wise and knowledgeable • Career – to improve your marketable skills • Future – save and invest some of your money continuously • Relationships – you need family and friends support to thrive

4. Stop buying stuff you don’t need
Know how to manage your money. Spend your money on value. Don’t buy stuff for the seek of feeling good. Stuff you buy should improve your financial well-being in the long run. Invest in an asset and avoid liabilities. Long lasting items tend to have value due to their long-term usage capabilities.

5. Don’t loan money to family and friends
The best financial practices dictate that “never lend money to family or friends,” because the cost of this action is very high.

You lose both in the end.

6. Advice: Create and rely on more than one income source
Build multiple income streams because it’s a bad idea to rely on one source.

You need to own things that bring money in but not taking your money away… 7 is the recommended number of income streams one must have ideally.

7. Create a budget
To become rich you need to create a budget to help manage your money. A budget is a financial plan that enables you to control your money. Without a budget, your money will control you.

8. Avoid high-interest debt – bad debt
Don’t take bad loans. Bad loans have high-interest rates. Instead of helping you grow financially, bad loans drug you down. Credit card debt is an example of a bad loan. Don’t use bad debt.

9. Save regularly and compound your savings
Save money regularly to help get rich. Building a financial empire begins at your money-saving prowess. Save and don’t get your interest earnings out. Compounding your earned interest is the name of the money game.

10. Buy and keep
Buy valuable assets with an intention to keep for a long time (or many years.) Buy and hold is a good strategy. Things you can buy to hold for long include; • real estate • stocks

11. Learn how to raise money
Learn how to raise money and people will come for help and advice. People need money for projects but they don’t know how to raise project money. You can Charge consultation and finder fees. Ask to become part of the project.

12. Start a small business
People who become billionaires start small time businesses. They grew their business to corporate giants over the years. You need to start your own business to become truly rich.
For more info on this visit
https://wealthscheme./2019/09/16/19-money-advice-learning-to-help-make-you-rich/

Thanks. Very valuable advice. Knew and used a lot of the above. I wanted to open my own business and therefore studied a lot of information on this subject. But still, my funds were not enough to open a business. Good thing I could find out about best business loans in Australia. I was able to find a reliable lender with affordable interest rates for the business, proper loan repayments and claims. If you are looking for reliable financial assistance, lenders should be on your list.