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Money Making: 10 % Which Will Make You Rich Part 2

The formula that will lead to richness:

1. Pay to yourself in advance;

2. Invest 10 % from the income;

3. Constrain consumption expansion;

4. Invest 50 % from income growth;

Now, let’s disassemble each point.

1. Pay to yourself in advance is a very important point. Many people try to invest that remains at them in the end of a month. I know, any surpluses means do not remain. Spare cash doesn’t happen, as a rule, all that hasn’t been postponed in advance is spent.

For this reason, if you have seriously decided to become rich, you should allocate a part of the incomes in the beginning of month ? when you receive the income. Otherwise, it will turn out nothing.

2. Why 10 %? Many, wishing to find riches start to postpone 15 %, 20 %, 25 % of the income, however, are fast enough they don’t maintain such rate and spend all saved up.

The matter is that: ?to Live on the remained 90 % as it is easy or as it is difficult, as well as on all of 100 %?. You won’t notice loss of these of 10 % from level of the consumption, but these 10 % will make you rich (in due course). 10 % is simple a very psychologically comfortable share of the income which you can refuse with relative ease for the sake of future state.

3. Consumption expansion restraint. (The third and fourth point should be united). We will admit today you receive 20 000 in a month, hence, you should invest 10 % * 20 000 = 2 000

Let’s admit from next month you start to receive 25 000. You hadn’t time to get used yet to the new salary, therefore it will be easier to you to increase level of investments. Now they will constitute:

20 000 * 10 % = (25 000 ? 20 000) * 50 % = 2000 + 2 500 = 4 500

That is, for you this transition will be felt how if your income has increased not on 5 000 (25 000 in a month), and on 2 500 (that is 22 500 in a month) ?

However, look as your investments ? more than twice have increased.

Notice, you don’t become the miser or the miser. No, you simply start to spend hardly more slowly. Growth of your income is allocated fifty-fifty between your expenses and investments.

Well here, I have told to you in brief about strategy of finding riches from Bode Shafer. I recommend to you to read the book ?the Way to financial independence? as you will find in it many interesting thoughts concerning not only the monetary party of business, but also outlook of the wealthy man.

Also remember, it is better to become rich in 7 years (by 35 years in my case), than to become never.

The days when governments have been showering people with all sorts of grants have passed. At least for some time. But that does not imply that you must get rid of the idea of getting small business grants.

Everything is doable with nicely balanced attitude; small business grants including.

Visit this blog for more practical tips about grants, how to apply for grants, grant samples, traps and ticks of the grants. This info will help you to get small business grants or any other grants faster.

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