Tuesday, July 3, 2012

How to become rich ? Part -1

If this question is asked to anyone, the probable answer will be that you should have a high earning job or you should be the owner of a business which should be the source of good income. But is earning good amount is the only way to get rich? Or maybe it is just one aspect of the answer to this question.
Earning good amount on regular basis is one important aspect of becoming rich; the other important aspect is to save a good amount regularly. For example, if we consider two persons X and Y, suppose X earns Rs. 30000 per month while Y earns Rs. 20000 per month, X lives his life in a lavish style and spends a lot on parties, outings, shopping while Y is a reasonable spender, he spends only when it is required, he also go for parties, outings and shopping but he has an habit of keeping in control. On an average X saves only Rs. 2000 per month while Y saves Rs. 6000 per month, so by simple mathematical calculation we can make out that in one year X will have Rs. 24000 in his saving account while Y’s account will have Rs. 72000. Despite earning more than Y, X is poorer than Y.
In simple words, saving as more important as earning and a person should be conscious about his/her expenses and should cut out any unnecessary expenses and save money.
Let us discuss some ways of saving money and becoming rich :

1)      Save electricity and keep a check on the bill : electricity should be used reasonably and keep in mind to switch off all the lights when you are leaving house and never waste electricity as it is national property. By using power in a reasonable manner you can not only save your money but you can also help your country as Saving of electricity = production of electricity .

2)      Save water: water is also national property as power and it should not be wasted as it is already in scarcity, by keeping a check on the wastage of water you should reduce your water bills as well as do your country some good.

3)      Limit petrol expenses : In India, in last two years the petrol prices have gone up by almost Rs 30/ litre, so we should also make sure that we are using our vehicles when they are necessary and if you are travelling alone in city prefer to travel by public transport or two-wheelers whose average is more than car. Cars should be used only when the whole family is travelling together.

4)      Limit junk food : prefer to eat home food as it is more healthy and cheap in comparison to junk food. Eating junk food regularly will also increase your medical expenses as they are unhygienic and unhealthy and after a time limit your digestion is not able to cope up with your unhealthy habits.

5)      Drinking habits : avoid liquor as much as possible as it is unhealthy and costly as well. The soft drinks available in market should also be avoided and you should prefer to drink fruit juices as they are both refreshing and healthy.

We will be discussing more ways of saving money and becoming rich in next part.

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http://msjilesen.yolasite.com/resources/electricity.jpg, pic courtesy : http://assetssecurity.net/wp-content/uploads/2010/03/How-to-Become-Rich.jpg, 

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