Commit to fattening your wallet

Commitment is key

Everyone would like to be better off, everyone would like to get rich, but many don't take steps to getting there. This blog is all about helping you get to where you want to be, financially as well as in general.

Whether you are employed, self employed or a business owner it is important to have discipline and a commitment towards long term goals. An example of someone that is temporarily successful is as businessperson that succeeds with one business only to over expand and within a few years have nothing to show for it.

It's important to assess risks, build separate baskets with different eggs in them and to be committed to an overall plan.

Insuring your survival

Unless you are 100% sure of the certainty of your business/job, i'd recommend multiple streams of income- especially passive income. For more info on this checkout the earning in your sleep entry..

For those that have one source of income it is imperative to use your income to the fullest. You can make your money work for you. Saving is a good habit to get into.

Picture this, if you saved 10% of your income of £2000 per month you'd have £2400 at the end of one year, and nearly 10k at the end of the 4th year! Now you may think you could use that money for something else, right? Well, I'd recommend actually setting aside as much income as possible. So if you are earning 2k a month, try setting aside 25%. That way, you can use the cash for different things: 10% for saving, 10% for investing and 5% for the short term (birthdays/wedding gifts/ business development/charity/holidays). That way you can have a good, stable financial life and give back to the ones you love and the world through gifts and charity.

So commit to it, save, invest and giveaway as much as you can. It might not add up in 6 weeks, but by waiting around you should have a good pot of money within 5 years, and who knows what opportunities will arise then for the man with a buck or two in his pocket....

Good luck..