Post
Topic
Board Economics
Re: Building wealth it's not just one time Luck
by
DubemIfedigbo001
on 25/09/2023, 15:05:18 UTC

1) Control income and expenses.
2) Spend less than you earn.


This is a good discipline for low income earners, but can't sustain you for long cos the bills keep increasing everyday.

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4) Increase your income and get different sources of income.
Before thinking of different sources of income, you should have built one particular source of income very well to serve as your pivot in case of uncertainties. Diving to increase source of income on low financial backing often meets with frustration and discouragements cos the money that is needed to make more money its not a small money.

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5) Invest, invest, invest.

The importance of this can never be undermined, you've to understand the business you're going into properly and note: DON'T BORROW TO INVEST IN A BUSINESS FOR THE FIRST TIME .