Creating wealth is more than the accumulation of money and properties. Besides, there are different levels of creating wealth. What matters here is the ability to sustain your wealth over a period of time. That is the difference between the rich and the wealthy. The rich spend most part of their earnings to live large and be comfortable as much as they can and when the resources start depleting or the inflow is shunted, there is little or nothing to fall back on. While the wealthy they are able to sustain themselves for years even when the resources are cutoff for about 10 years and more.
That is quite something worth achieving that these wealthy people ensure that despite future occurrences they are secured. But study them closely. They are never wasteful to ensure they secure that standard of being wealthy. They do simple things that ordinarily the poor wouldn't do. Dress simple, buy not too expensive wristwatches and most importantly take care of their health by eating right.
These are some more simple ways to start being frugal in your approach to wealth creation.
Wise Buying
This is common amongs ladies who would spend the most part of their earnings on hair extenders, cloths, shoes and makeup items so they appear to be living large. While guys would spend buying cartons of beer for themselves and friends. Someetimes they buy cars they cannot keep up with the expenses to maintain. These are ways monies are spent wrongly rather than on things that would actually improve oneself or invested.
Cut down on your expenses and ensure that thing you spend money on is a need and at a reduced rate.
Cook your Food
The trend with most single guys and ladies who are working either for self or a paid job is eating outside. By this i mean not cooking their own food at home. Yes you make good money and yes you do not have the time. That still is not an excuse to not cook at all in your house to eat your own food. Cooking helps you cut down cost and it ensures you are sure of what you are feeding your body with. Eating out all the time will never guarantee you good health. Most cases of high blood pressure and diabetes are linked to bad eating habits than hereditary. These foods especially in Nigeria are stuffed up with MSG (maggi, knorr etc) which are detrimental to our health. Don't mind the garnishing, taste, and smell from those fast foods, they don't care about your health. Once in a while outing is rather ok but you need to be healthy to make and enjoy your wealth.
Diversify
Spread your tentacles by gaining new skills or develop yourself gaining a higher degree to get more pay. Invest in something you can effectively manage and grow. Ensure you have more than one source of income. Not so that you spend more but to enable you start saving wisely and on time. You can also monetize any of your hobbies that you are passionate about. It is easier to do such and succeed in it.
Many people look too far seeking what is close to them. It could be that you are a good negotiator. I just discovered i could bring people together for a certain type of business and negotiations are ongoing right now. I thought it was just one of those helps i can render but it is going to fetch me some money. This is what i have been doing in the past for free. Now i realized i could earn from it.
Maximize your potentials and channel your energy into positive things, ensure you are frugal/ prudent in your spending from day to day. It is never too late.
To understand more, read my first article on this topic here: https://steemit.com/motivation/@gloeze/wealth-you-can-create-for-yourself-despite-your-income-1
NOTE: At the end of the year what matters is how much you could save from the cash flow that came to you that year or the investments you have. This is your true worth.
