The Real Financial Success Plan

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Success is a noble goal. Unfortunately, this natural desire has been manipulated by people to their own disadvantage by becoming gambling addicts. In my article, where I analyze the dangers of gambling in detail, I have laid a strong foundation for why high-risk financial decisions must be avoided.

In this article I present the necessary steps that lead to long-term financial success.

DO NOT WASTE MONEY

The number one rule in finance is this: spend less than you earn. When you follow this rule you retire rich. And when you violate this rule, you become broke.

When you spend all your money on unnecessary expenses, there is nothing left to save for a potential future investment.

All the accountants are agreed upon this fundamental principle: savings increase financial stability, whilst the opposite destroy it.

The pre-requisite for long-term financial success is a good savings account; and good habits such as strong self-control in personal life allow for savings to accumulate.

INVEST IN YOURSELF

If you do not invest in yourself — no one will. And even if invest in yourself, this is no guarantee that this will result in others caring about to invest you. At the end of the day everyone asks the same question, ”What’s in it for me?”

Do not fall for anything stupid — there is nothing guaranteed in life, especially when it comes to economics. The place you work at does not love you and you can be replaced in an instant by someone better-looking with better-grades from a better-college.

Find your passion in life, work hard at it, own it completely and invest in yourself.

WRITE YOUR GOALS DOWN

Writing your goals down makes you more likely to achieve it-this is a well-known axiom.

Always write your goals down in the present tense preferably starting with singular personal pronoun ‘I’. And believe as if the goal has already been accomplished. This is a powerful way to become successful.

Resolve to write your daily goals down, as many times as possible.

BECOME AN ACCOUNTANT

When you control your money and you understand it with absolute certainty, you are your own accountant. And this must be your goal: control your financial decisions with knowledge. Also, it is a good idea to get some accounting qualifications in this hyper-competitive capitalistic economic planet.

Warren Buffett called accounting the ”language of business”; it is completely true.

REDUCE PAYING TAX

This is where you legally manage your tax-expenses through expert consultation with accountants and attorneys. One of the most important secrets of wealth is to legally reduce tax expenditure.

According to data, the rich Americans ”Hold Back $600 Billion in Taxes Annually”. This is an actual article by the same title.

The prize is the potential gain that can be won by sheer chance and has economic value.

DO NOT WASTE TIME

Time is the most precious commodity in this world because it is irrecoverable. As a consequence, everything must be done to save and manage and utilize this resource as rationally as possible.

When you work for someone else, you are probably wasting your time. How? This is because you are not investing in yourself to improve your skills, knowledge and health; you are too busy putting all your effort and time into someone else.

The best way to not waste time is to not work for someone else — become self-employed.

In summary, to become successful you need to stop wasting money, invest in yourself, write your goals down, become an accountant, manage paying tax and not waste time.

A contributed article by Zalghi Khan