You often hear not to keep up with the Joneses in the personal finance community. While it's best not to try to keep up with the people who are broke and flaunting it, what should you do instead? I suggest keeping up with the Gateses — Bill Gates.
Who is Bill Gates?
Bill and Melinda Gates are widely known, but the Gateses could also be anyone who has built wealth in smart ways, saves for a rainy day, and doesn't flaunt their debt.
So, how can you become a Gates? Well, there are quite a few things you can do.
Invest in Education
Everyone who knows of Bill Gates' story knows that he dropped out of Harvard University. However, he has recommended on several occasions that investing in your education is important.
This isn't to say that you have to get into massive student loan debt. But it does mean to take some classes to learn new skills, get a degree if you can do so debt free, or even just practicing something new.
Why is investing in education so important? Think about it. If you have more marketable skills, chances are that you are more likely to get hired for a job or be able to have a few side hustles to earn extra cash. ...continue reading
The following is a guest post from SB, who blogs at One Cent at a Time, where he teaches about getting ahead in life, encompassing personal finance and productivity related topics like Becoming Rich, Earning Extra Money and Saving Environment.
No one wants to maintain or lower economical condition. Everyone wants to earn more & more money and become rich. There are many ways to make money. However, there are some ways which are not legal or by using them you may find yourself in a problem. Here are 15 ways for you to build wealth legally
- Get rich by saving money- Many of us waste money unnecessarily. If we use money economically and save it we will definitely save a lot of money in a very short span of time. For our future to be better, we should start saving from now. Remember, Drop by drop makes an ocean.
- Start your own business- You can start a business of your own with proper guidance as business may give a lot of profit. It is always preferable to start your business if you have experience in the field as you should not take risk as you may lose what you have invested.
- Choose proper career- You can earn a lot of money if you work properly. You can work properly if you have interest in the field and so you should select your profession according to your interest.
- Invest in property- As nowadays the rates of real estate are on a rise it is profitable to invest in them. You should invest in different localities so that even if property rates at a particular locality goes down you may recover the loss from other localities.
- Keep changing jobs-‘A rolling stone gathers no moss’ is an old saying nowadays as if you keep the same job for years together you cannot progress and changing jobs help you to get a rise every time you change the job.
- Start tutoring- You can tutor children as a part time job which will help you earn more and you will utilize your free time.
- Invest in stock markets- Stock markets are real good earners if you invest in proper places. Seek advice from some experienced stockers if needed.
- Purchase things in discount-You should shop when the rates of things are low, like in sale. It saves a lot of your money. Also you get the things you want and the best part is that you pay much less than what you pay normally.
- Start a shop of your own-You can start your own shop and hire people to work there and you may continue with your job. This will work as a second way of income for you.
- Rent your house-If you have extra space in your house you may rent it and earn from it. or you may buy a house and then rent it.
- Work online-You may work online as you don’t need any office for it you may work from home. You may work as a freelancer, start your own website, buy and sell things online, etc.
- Select proper location-You need to choose a perfect city or country according to you profession. Like you should live in a city where you can get plenty of jobs to choose and you will definitely earn more there.
- Earn money from your car-If you have a spare car you can rent it to people or travel agency and take a fare rent from them. This type of renting pays really well.
- Sell unwanted things-You should always sell unwanted thing for a good profit. It is always good to sell unwanted things rather than keeping them and creating a mess in your house.
- Always work harder-Never stop and be satisfied with what you have. Always try and work harder to earn more.
Readers, as the name of my blog suggests, wealth should be accumulated one cent at a time, you can grow rich but can't do that overnight, it just can't happen without a lottery or gambling win.