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Growing up in a middle class family who is tight on budget, money has always been an issue with me. Wanting more money is my ultimate goal as with more money comes more lavish lifestyle and happiness too. Without money there comes hardships in many cases.
Although many emotional happiness doesn’t come from money, having enough money will keep us at ease and help us in getting through things much faster.
We all want to live a rich life. The problem is we are not trying hard enough to do so. We think a magical wand will come and help us, the harsh truth is you have to take charge and do something.
You may be wondering what exactly needs to be done. Don’t worry, I have got you covered. I have compiled all the awesome ways which will help you in living a rich life.
Change Your Perspective
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Often many people preach to cut down costs to increase the balance sheet revenue. What they mean is to eliminate the unnecessary cost. If your cost is linked to your rich lifestyle, then you could have saved money in the bargain, but lost to rich life.
So, here is what you need to understand. First analyze the rich lifestyle which you need to live. Second is the amount of money you need for it. Make sure you set a realistic goal here. Definitely you will find yourself short of money.
Now you need to explore the opportunities out there and increase your inflow of money so you don’t have to cut down costs, still live awesome each day.
Remember, savings is an important part of life, so don’t equate not cutting down costs to not saving. You should always first save at least 10 to 20 percent of your income and then think of any other expense. You should exploit all the available savings opportunities namely savings account, mutual funds, shares and so on.
An Example Of Rich Life
Rich life doesn’t have to be superb expensive. For me rich life is having good amount of savings for retirement, having not to worry about daily survival and at least 1 mini vacation each month and 1 Mega vacation each year.
See what I did over there. I set my goal as per my happiness, not the standards you see in movies or read in newspaper. Although that is a rich lifestyle, you need to make a goal that is personal to you. This way you will find that you are near to your rich lifestyle.
A brainstorming can help you find the rich life which you wish to live. Take a pen and notepad, write down all your rich desires. Once you have at least 15 of them, eliminate 10, so you get 5 of your top most priorities.
Congrats you have just set a life approach for your rich lifestyle. Now, second step is the most important one. Working to get over there. Let’s explore how we can do this.
1. Increasing Your Salary
Salary hikes are a periodic review in all the major companies. So we all think we don’t need to stress more about it, as we will naturally have a better salary in next year.
That is true, however you can take charge and push yourself to have a better pay. It may not be always possible, but unless you try you won’t know. Here are things you need to do.
- If you are being given salary hike basis on your performance metrics. Make sure you ask for the exact numbers you need to hit for the maximum increment. The second thing is to chase down the numbers and get rewarded for the best performance.
- Ask you manager if we can negotiate salary compensation, if you outperform all others with at lest 25 percent. If you convince him, get a plan to achieve the same and then get an increase in salary when other won’t get it.
- Many companies have internal job posting opportunities. Keep looking for it and then apply for the same, with a promotion, you will get higher salary.
2. Get A Part Time Job
This is a necessity to have a surety and more security. Although you might have a decent paying job, you should have a back up plain just in case, something happens and you need to quit the job. The solution is to ramp up your savings by a part time job.
Also, this money would add up to your rich lifestyle too.
How to find and get a part time job? First you need to make sure you are not spending too much time, else you will find yourself in a bad situation.
Do occasional jobs which you can do with your skill, like proofreading a novel for a writer, giving a helping hand in celebration, becoming part of security and stuffs in shows. This way you won’t have a commitment and you will keep adding money to your pocket.
- Keep saving some money from part time job in case you lose your primary job and spend the rest on the lifestyle you wish.
- Remember, working hard sometimes and smart otherwise is the key to succeed. You need to analyze the situation and then go with your instinct.
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- Remember, this one is optional and if you are not finding an exceptional skill in yourself, stick to the first two methods. You will be fine.
- This takes time, but if you have the awesomeness, you will succeed and a rich and quality life awaits you as your trophy.