Why doesn't your bank account reflect your growing financial culture?

Why doesn't your bank account reflect your growing financial culture?

GET-RICH    January 25, 2022   

Why doesn't your bank account reflect your growing financial culture?

The road to financial freedom is not easy, and once you take your first steps along this path, you will be hampered by obstacles. Many people get frustrated and give up quickly, while others resist for a while, but without results, and then give up. Only the few who persevere can progress and truly get rich.

Many people don't understand why they didn't come close to achieving financial freedom, even though they've been developing their financial culture for a while, some of them have read a lot of books, take courses. But he wonders: "I am financially educated, but I am still unable to increase my income. So where's the flaw?"

Veteran financial expert Robert Kiyosaki asserts that action is the decisive factor that turns ideas into financial flows and reality, and that makes the difference between sweet wishes and real dreams.Our actions and behaviors determine our future, so if you think you are learning financially and developing your financial culture, but without tangible results, there are probably reasons why you can't do what you want and hinder your progress.

Robert Kiyosaki emphasizes that there are five basic reasons why financially educated people cannot achieve significant cash flows, whether consciously or unconsciously. Of course, overcoming these reasons is not easy, but it is necessary to achieve wealth:

1. Fear

This is the most common reason why most people are not rich. If you're not afraid of anything, what can you do now to get rich? Resigning from your job? Starting your little business next to the job? Creating your own company? Investing your savings in owning income-generating assets?

Many people spend their time reading, studying, and increasing their financial knowledge, but when it's time to act according to that knowledge, they back off. Afraid.

Fear is understandable, risk and change are scary, and it's no problem if you feel scared, but the problem is to let your fear overwhelm you to the point where you don't do anything at all. The fear of being normal then moves into an obstacle that stands in the way of your true freedom.

2. Questioning

Skepticism and pessimism are another form of fear: mistrust that prevents you from having the necessary self-confidence to help you progress. This mistrust can be a distrust of yourself, deep self-doubt, paranoia about markets, questioning a strong agreement, or backing away from a last-minute investment.

Questioning yourself, in your abilities, will hinder you with the results you will get... Whatever way it manifests itself. You must learn to distinguish between real anxiety and exaggerated fear.

If you are financially educated and have done the necessary research and studies, you should trust your abilities. You don't have to let others convince you not to do something you know is right, and you can't stop yourself from trusting your thoughts and information.

3. Laziness

We all think we know what laziness is, it's lying on the couch for five hours in a row watching TV and eating popcorn. If you accuse a hard-working person of laziness, you often receive a very angry response.

Laziness affects all of us, however, and busy people are usually the laziest people. People become "very busy" easily and cannot do and give priority to important things, such as their health, family, or money. They go to work and work all day, and they feel very tired when they come home and don't do anything else from hyper fatigue.

When they're not busy with work or family, they're usually busy watching TV, playing golf, or shopping, but they know in their mind that they're avoiding something important.

This is the most common type of laziness: laziness by staying busy.

So, take an honest look at your life. Is your excuse for not investing that you're too busy? What does that mean? What are you busy with? How does that stop you from achieving financial freedom?

4. Bad habits

Our habits control our future, and if you have bad habits, your future slips out of your hands.

Bad habits are the worst possible obstacles for you because they are very difficult to get rid of, they require discipline and sustained and informed efforts.

Not many people have the discipline to get rid of their bad habits, and worse, many people don't even realize that their habits are bad in the first place. For example, a person who sleeps late on weekends may think that he or she makes up for the sleep he desperately needs, but the habit steals from him many hours from which he could research investing in it or building side work.

Reflect on your life habits, some of which may be so immersed in your daily routine that you don't notice them. And think. How do these habits hinder you?

5. Vanity

"Every time I felt arrogant," Robert says. I lost money because when I'm cocky, I believe that what I don't know doesn't matter."

I found that many people use vanity to try to hide their making, they embezzle and over-show confidence to hide from the fact that they don't know what they're doing. Instead of humbly acknowledging what they need to know, they blame others and circumstances for their failure.

If you can't be honest and humble with yourself, you have no chance of freedom.

Good news: If you have one of the above factors, you have a very big chance of getting it right. This task is not, of course, easy, otherwise, everyone will achieve financial freedom in a short time and with ease. But generally knowing the reasons and behaviors that hinder you from increasing your wealth is the first step.Make sure that with training and perseverance you will be able to overcome these bad behaviors and feelings and find your way to freedom.

5 Personal Reasons for Personal Financial Stumbles

5 Personal Reasons for Personal Financial Stumbles

GET-RICH    January 24, 2022   

 5 Personal Reasons for Personal Financial Stumbles

When it comes to failure and financial poverty, it is easy for one to shirk one's responsibility and blame circumstances and others.

No one denies external reasons or factors! But blaming it will not work and will not come to any conclusion, but what everyone has to do is take the initiative to take responsibility for their current and future financial situation.

We will share with you in this article, 5 personal reasons that are a factor in many people remaining on the financial side of their lives:

1. Weak motives.

In other means, a person has no justification for his interest in earning more money, developing himself, and improving his standard of living. Satisfied with a little, whether lazy or incapacitated, is a negative conviction and a weakness in the energy, and maybe caused by either:

- Lower personal expectations ceiling.

- Or surrender to challenges and obstacles.

2. Low professional skills.

Those skills qualify you for the right job opportunity or those that qualify you to be promoted in your current job or move to a more appropriate job to improve one's income.

There are skills that anyone can use to improve their chances of increasing their income, whatever their job or job, such as learning:

- How to sell

- How to negotiate

- How to manage his relationships?

- How to invest?

3. Financial illiteracy.

In this case, the individual is ignorant of the simple alphabets of financial development that ensure that his or her future and that of his family are secured, and he or she is also ignorant of the financial mistakes he has to avoid so that he does not waste his financial resources in useless matters.

Financial illiteracy can flood its owner with debt, fail its business, make it vulnerable to fraud and deception, or make it spend its money without a clear and random plan.

4. Lack of a financial application program.

Per capita income may be acceptable, but it does not develop for a better future. Myopia, lack of planning for the future, and a lack of vigor in doing what needs to be done are major disasters. If that person is forced to leave work for any reason (e.g. illness, disability, old age, or expulsion from work), it becomes an over-number of the poor!

5- Distorts faith and spiritual beliefs.

For example, a person may think that money is from the filth of the world and its dirty filth that hurts the soul! He may also think that his poor financial situation is justice and destiny, which would justify his inability and laziness, and he would not strive to take the reasons. Others may believe that poverty is a noble virtue of faith that guarantees him a dignified return!

8 top tips for achieving financial independence

GET-RICH    January 17, 2022   

 

8 top tips for achieving financial independence

To grow your wealth, you need to invest part of your income in high-return investments. Recording your income and expenses constantly achieves financial independence (Getty) 19/9/2020 achieving financial independence is a goal for all people, who dream of achieving it because it not only

 provides them with abundant money but also power and freedom.

In a report published by the Spanish website Pseco Activa, writer Espalia Farias says that achieving financial independence makes a person free in his or her actions, away from the interventions of others, and gives him full freedom to make his or her decisions.

But the question is how to achieve this financial independence, so the site initially points out that the writer Nelson Enrique Rodríguez, in a study published entitled "Money, Management and the Search for Financial Freedom", warned that many confuse wealth with financial independence on the other, a mistake not only for heads of households but even for businessmen.

Those who manage their savings and dispose of their money can achieve this goal, especially after following a set of financial advice and rules.

1- Control your money

Avoid spending on unnecessary purchases, as much of what you bring home, may end up in the basement without using it, so you just have to buy the things you need, avoid irrational shopping behavior, especially during discount periods such as Black Friday, as well as the need to record and calculate all income and expenses and control them.

2- Caution in the use of the credit card

The bank card should be used consciously, and pay attention to the amounts disbursed through it, especially since sometimes we do not feel the value of the money when we do not pay it in cash out of pocket.

Credit Card (Strastoke) It is necessary to pay attention to the amounts disbursed through bank cards (Strastock)

3- Record your expenses

It is very important to hold personal accounts and record all income and expenses, to monitor and follow where your money goes, which will make it easier for you to manage, and today many smartphone applications can facilitate this.

4-Improving the career path

The site advises adventure, breaking into new professional areas, or changing jobs, if you believe that your current career is not promising and does not bring you the financial prosperity you aspire to, in our time, many have succeeded in relaunching their careers and breaking into new areas, by developing their way of thinking and skills and keeping pace with the modern changes in the world.

5-Long-term planning

Beware of crazy behavior and quick spending, especially for those who act like there isn't tomorrow, and they often have the problem of compulsive spending when shopping.

No one can expect what can happen in the future, every human being is vulnerable to many unpleasant accidents and surprises, and financial conditions can be turned upside down day and night, so part of the income must be saved for Black Day.

Part of the income must be saved and allocated for crisis time (Getty)

6- Work-based on realistic objectives

You may not be able to buy the car you want this year or even next year, but you can achieve this goal by making simple and steady strides by raising money gradually, a much better way than falling into the loan trap and spiraling debt that will deprive you of sleep.

7-Diversification of sources of income

You may have a lot of talent and abilities, which you can activate and make a source of money by taking on a second activity alongside your job.

It is also recommended to diversify investments and divide them into diverse opportunities and areas, to avoid losing everything once in the event of a crisis.

8-Some money has been allocated for training

The site advises every ambitious person to invest in improving their professional qualifications and gaining new knowledge and skills that give you more opportunities, which is the best investment to make more money in the future.

In conclusion, the site warned that a person should reward himself from time to time if these tips are adhered to, as austerity and excessive and persistent discipline may have negative effects, so part of the money must be allocated for entertainment and free disposal, and to carry out enjoyable individual or family activities.

12 steps recommended by experts to control and reduce your budget

GET-RICH    January 16, 2022   

 

12 steps recommended by experts to control and reduce your budget

The U.S. Magazine Reader's Digest reported that budgeting and adherence to it represent the first step towards financial independence.

Your budget is your plan to spend money over the week, month, or next year, and it's based on calculating the money you earn and the money you spend.

One way to control the budget is to set a clear goal that it seeks to achieve by the end of the exact period.

According to financial adviser Brian Saranovitz, to achieve any goal in your life, the most important thing is discipline and perseverance, and this applies to financial matters.

As you move to develop your financial discipline in your life, budgeting is the first step, and in every detail of expenses your success will always be linked to your ability to adjust and commit to the budget, here are some practical steps to help you set yourself a financial plan.

1- Draw your goals

It's wise to have a vision about disposing of your money, to be written, and by imagining the results and drawing a mental picture, you encourage you more to stick to this budget and achieve your goals.

2- Calculate your monthly income

The magazine advised you to set your current income every month after paying taxes, which is easier than you think, i.e. you have to calculate all the liquidity that flows into your wallet and write all these numbers with paper and pen or use a smartphone or computer, and you can create a file to record all these numbers.

You must calculate and record all your monthly income (Reuters).

3- Adjust your monthly expenses

On the same page, you can write all the expenses that await you monthly, making sure that all expenses are included without exception, even entertainment, trips, and hobbies, as well as fixed expenses, such as house rent, food, services, transportation and debt, and if you are not sure of a particular number, overestimating it is better than underestimating it.

For bills and services whose price changes from time to time, experts recommend estimating the rate or average of these amounts, based on what has been paid in the last six months.

4- Living within your means

The magazine explained that then you will want to compare your total expenses with your income, to see if you live within your means or if you spend more than you earn, and this result can simply be achieved through the process of subtracting your expenses from the income you earn after paying taxes, and if the result is negative there are steps to be taken.

If the result is positive, it means that you live within your means and spend money well, in which case the first thing to do considering an income surplus is to create emergency savings.

5- Dispensing with unnecessary expenses

If you live above your financial means, you need to make some changes, and you should pay attention here to small expenses that you don't usually pay attention to, you of course need to continue buying food, consuming electricity, and paying rent, but you can stop spending your money on unnecessary things, such as participating in entertainment.

On the other hand, you can earn extra money by selling things you no longer use, moving to a cheaper place, or changing your health insurance terms to become less expensive.

It's important to pay attention to your small expenses that you don't usually pay attention to (Getty)

6- Set a goal and stick to it

The magazine reported that to succeed you should read or look at your plans at least once a week to motivate yourself, but budget commitment is difficult because you are exposed to all the temptations and mental distractions provided by the media and advertising by displaying glamorous products used by people who seem happy.

7- Ask for help when facing problems

The magazine reported that there are many ways on the Internet and smartphone applications to help you track your expenses and get advice and guidance, but if you prefer human communication, you can get the services of an accountant or financial advisor, and this type of guidance is not necessarily paid for, as you can get it from a friend or wife.

8- See your previous results

It's important to lose how far you've come with your plan and the expenses you've spent saving each period, and, when we think we should live and enjoy life, we also believe in the need to live it responsibly while keeping a look at the future, especially during a retirement period where we won't be able to work and make money.

On the other hand, some people check their budget on a daily and frequent basis, which can be considered an obsession, and the right behavior is to do calculations and lose the budget once a week, monitor your progress towards your goals once a month, and advise not to stop adjusting the budget and control incomes and expenses even after retiring, as this organization always remains useful.

9-  Anticipating and probabilizing changes 

The magazine noted that it is important to plan all the possibilities and transformations that your life will experience in the coming period, such as having a baby, moving a child to university, applying for a home loan, buying a car, and other things.

Your expenses and savings should be reviewed at each time to measure your progress in your financial plan (Reuters) Your expenses and savings should be reviewed at each period to measure your progress in your financial plan (Reuters)

10- Reset your goals

With life changes, you must sometimes modify or change your goals as well, when there is a baby on the way, you may have to give up your holiday travel plans, start planning to rent a larger apartment, and if you have a wife, it's important to talk to her to set common priorities.

11- Adjusting the budget

 If you were luckier than you expected and got extra money, you should relax and not rush, and proceed first to reset the budget, especially since these positive surprises can be followed by negative ones. And people who are good at budgeting and saving do better in the long run than those who quickly give up their commitment, and here it is not much different from exercise and diet, as giving up the commitment once you get good results may lead to a return to the same problem.

12- When you fail Start saving

 Experts advise writing down your total income after paying taxes, and setting your goals in terms of saving money, and when you get all these incomes, start taking the savings to the bank or invest it, and then you can spend the rest of the money. Also, seeking to modify your buying behavior to adapt to savings schemes is a skill that can be acquired, and if you are not ready for complete discipline, you can first start saving, as putting $5 in a savings fund each period can be enough to make the difference. 

3 financial targets should be included in the 2022 plan

3 financial targets should be included in the 2022 plan

GET-RICH    January 01, 2022   

3 financial targets should be included in the 2022 plan

2021 is over, so how do you see your financial achievements over the past 12 months? And how do you measure your financial progress during it? As we hope for more and more abundant and financial development in the coming years, we will present you with easy ideas today to review and evaluate your financial career over the past year.

A clear set of ideas that measure your financial successes and failures, which will give you a more mature view of your financial objectives, thus helping you set your financial trajectory on the best options for the new year 2022.

Did you achieve financial targets last year?

The financial objectives you choose for yourself with full care, and keep in mind, will be the precise compass that leads you to the right direction to take, the more you take steps in the same direction as your goals this is an explicit indication that you are making the required progress, and that you deserve congratulations in advance, you are on your way to broad financial independence.

It is really unfortunate that many people do not have real financial objectives, and does not have a clear vision about their financial future, so they will not get more than life donates to them in a semi-random way!!

Financial targets should be included in the 2022 plan

Now that you're starting a new year, you have to review your financial goals, reconsider their strength and feasibility, and measure how far you've come, ask yourself: What acceptable steps have you taken to achieve your financial goals? This is why you put yourself back on track and refresh your financial plan with a new spirit of enthusiasm:

1. Raising the level of income

One of the main financial objectives of any financial plan is to raise the level of income, possibly through overtime, of any kind, or by contributing to the financing of a project, or through investment, i.e. by purchasing an income-generating financial asset, the latter option is the most intelligent.
What about you?! Have you achieved any acceptable additional income over the past few months?

2. Increase savings

No matter how excellent your income is, without saving you will not be able to control your financial situation, and you will not be able to grow your money, as saving 10% to 20% is not unusual, but it is an excellent plant for the natural progress in the financial development line, which we talked about in the last issue.

If your savings are 10 times your monthly income, you are in an acceptable position, but if they are worth more than 20 times your monthly income, we congratulate you on your financial success in advance because by investing this amount you can earn more new income than your current income.

It is a real indicator if your savings have recorded consistent periodic growth over the past months, you are in the right direction, otherwise, you should reconsider your financial plan and approve a reasonable percentage of your periodic savings income.

3. Buy assets

Financial assets are chickens that bleach gold!! It is the secret that explains the huge balances that flood the accounts of the rich! Have you bought one in the last few months?

A financial asset is everything that can be purchased to generate additional income or anything that can be purchased to sell it at a higher price, it is simply an investment.

Real estate, financial assets may be one of the best options, such as buying a house to rent it or buying land to sell it at a higher price, but the options available are much wider, there are expensive options with high financial return, there are options close to the reach of the average person because of its modest price, there are assets that carry little risk, and the financial intermediary can guide you to the best solutions suitable for you, especially as you Oman is witnessing structural development Large projects will provide more and more excellent investment opportunities

.

Buying assets is a reliable source of your money development, a tried-and-tested way to reach any financial level you aspire to, and you can view the financial asset as a money factory because it will produce a lot of it for you.

The end is another face to the beginning.

Endings are always new beginnings, don't regret what's gone on, entering a new year comes at the end of a year, start today to take care of your financial future, draw a clear picture of what you want to achieve in the new year 2022.

About Get-rich

About Get-rich

GET-RICH    December 21, 2021   

About website Get-rich

The Basics

Do not visit here unless you seriously want to know how to get rich because you won't want to hear what we have to say. Are you ready to listen?
There are basic, simple steps upon which everyone can get rich - given time. So, this is not get rich quick, but where did all those get rich quick schemes get us any way? This is not based on luck like Get Rich Quick is for the majority of people. It is based on "Anyone can Get Rich". So let us proceed slowly and Get Rich in 3 basic steps...1...2...3...

1. Economic Choice

When you have 1 dollar you can spend it or you can save it. There are a few variations like where you spend it or how you save it but essentially it is as simple as - spend or save.

2. Compound Interest

1 million dollars will get you 60 thousand dollars interest. Compound interest is often called the 8th Wonder of the World but it is also often dismissed because it takes time. Small numbers seem stupid and children are not impressed with their return but saying 1 million dollars will get you 60 thousand dollars in interest is does not sound so stupid.

3. Attitude Change

You need to change your attitude. Stop being a consumer. Buying something will not make you feel better. Possessions do not equal status. The person who has the most when they die is not the winner. How many TV's does one house need? How many DVD players does one family need? Get off the fashion bandwagon. Why are you paying 300 dollars or 15o dollars for jeans when you can get them for 40?
So these are the basics on How to Get Rich - slowly. If you want more stay around or bookmark this site and come back.

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