5 Things That Will Make You Wealthy

Here are your five proven principles rooted in common sense

that are essential for winning with money.

These steps are not theory; they are practical actions that,

when repeated over time, will lead to building wealth regardless

of your income or circumstances.

1. Have a Written Plan

No one accidentally wins at anything.

You need a written game plan, specifically a budget.

Counting the Cost: As the saying goes, don’t build a tower without first counting the cost, or you might get halfway up and be unable to finish.
Intentionality: Without a plan, you are building blindly. A written budget ensures that you are telling your money where to go instead of wondering where it went.

Your most powerful wealth-building tool is your income.

Stop Giving It Away: When you spend your life giving your money to banks (who have nicer furniture than you), you are losing your ability to build wealth.
Freedom: When you have no payments, you have money. Getting out of debt frees up your income to work for you rather than for a creditor.

If you spend everything you make, you are a fool.

To build wealth, you must consistently live on less than you earn.

Avoid Stagnation: Wages are often stagnant for people who are stagnant. If you don’t like your income, change your situation—get a new job, move, or learn a new skill.
Take Responsibility: No government entity or policy will fix your life. You have to decide to control the controllables, live below your means, and save the difference.

Rich people get rich by saving money.

It is a simple concept, yet many people get caught up

in debating investment theories while investing nothing.

The Problem: The biggest problem with most people’s investments isn’t the rate of return or the expense ratio; it’s that they don’t have any investments at all.
The Assumption: You will be broke until you save money. 100% of people who don’t save money don’t have any. Whether it is real estate or mutual funds, you must actually put money away to see it grow.

This is the most fun you will ever have with money.

The Result of Discipline: When you have a plan, no debt, and savings, you have the margin to be randomly and lavishly generous.
Action vs. Talk: Broke people can’t be generous in the same way. Instead of just discussing philosophies, taking action on the previous four steps allows you to reach a point where you can give freely and impact others.

Winning with money doesn’t require complex theories or magic.

It requires doing these five things over and over again:

make a plan, get out of debt,

live on less than you make, save and invest, and be generous.

If you follow this path, you will build wealth.