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| Sources : https://www.capablewealth.com |
'Before you read, Please note this article is not a financial advices any advices related to finance has to be taken from financial experts'
Rule 1: Multiple Income/Multiple streams of Income.
You might say how? you see can't climb a bladder putting your hand in the pocket. Like that, you can achieve financial freedom running after one job or having one job. Cause, things are pretty expensive - depending on where you live and stay. What does multiple Income does is this. It create a money storage in your life. That means, you can feel safe always.
Like understand this
Rule number 1 (Multiple Income)
let's say you have planted 100 apple trees to sell the fruits in Market-In the beginning when you're apple plant is small. It will be very difficult to keep them safe. There will be many problems will pop up. But once they grow big they will need less maintains.
Similar to these, you can also create multiple income. Which need maintains in the beginning and once they are full grown. You don't need must maintains anymore.
Some of them are :-
1. Ebook: - If you love writing, then you can publish you are ebook in the Amazon kindle .All you got to do is make your writing in PDF or any other files that it supports and it is easy to create these days.There are plenty of websites which can make your dream come true.
2. Affliate Marketing :- There are many sites where you can joint to their affiliate program like Amazon and Flipkart.
Rule number 2: Be unreplicable
The market does not remain same it changes and evolved over the years. If you're listening to audio cassettes in walkman - A device where you can play audio cassette. People will call you insane or will give you a weird look. Because, people no longer used this kind of device, but back in the days it was normal. That is why? You have to keep changing because remaining the same is going backwards. Think about, Apple for instant - Apple products are high class- they are unreplicable they have a wide range of series of Products. Apple sale emotion-Apple always shows their products are high class and it is not for everyone nor everyone can effort it.There are many ways one can become unreplicable creating a product that no-one can replace it-think about this facebook was not first social media site there were many of them before Facebook some of them were My space,Orkut and Frndzo and so on. So, how come Facebook dominant the entire scene. They could do because they create an entirely new experience of social media. Like for example - Group,Page,Status,Emoji and many more -Human don't like.Someone stopping them from doing.Some time they love to do. In the case, of Facebook anyone can do anything.
You can read Mastery by Robert Greene a great book to achieve greatness in your field.So, to say in other way to become unreplicable.Why? we know only Albert Einstein they were many scientists before him or during his time. Because he was unique, he was different.
Rule 3 - Know the difference between Passive and Active Income :-
To understand, the difference between passive and active income. Let's understand it by this example- Let's say I'm a teacher of a Government school. I will only get my salary as long as I will keep working. That means, no work, no money. That is active income- It applies to job/service and so on.But, in case of passive income.We will work once and you won't have to work again. If you go YouTube, you'll come across a channel who have not uploaded a video in years now.But, still getting views-Ads are running.This does mean you will upload any video that you find and upload it.No! The video has to be useful so that people keep searching on that tropics.If you take my own example-I have a YouTube channel where I rarely upload despite all these, my subscriber - is growing day by day/year by year. You can generate the passive through different ways-you home rant can be also be passive income, you can turn your car into passive income find a driver and be a part of OLA/Uber (online Taxi) service these are countless ways through which you can generate passive income.
Rule 4: - Know how money Works
This one is the key towards building that massive wealth that you always wanted to own. There are many books that have helped people achieve financial freedom forever.Some of the books are Rich Dad and Poor Dad by Robert Kiyosaki and The Millionaire First Lane M.J.DeMarco and so on.
It is very necessary to know how the money works to maintain the flow of money.Money is more about psychology than about actual work.
Let's say 'You have already assumed that you will fail, no- matter how much you try to study to clear UGC-NET exam' and you are doomed to fail. Psycho Cybernetics is a great book written on Pre-Visualization .In this book it has been clearly been mentioned that "The, Man who conceives himself to be a "failure type person" will find some way to fail, in spite of all his good intention or his will power, even if opportunity is literally dumped in his lap. The person who conceived himself to be a victim of injustice, one "Who was mean to suffer" will invariably find circumstances to verify his opinions.
The self-image is a
premise, a base, or a foundation upon which your entire personality, your
behaviour, and even your circumstances are built."
Train your brain to make more money by John Assaraf is a great video where he talked about how you can actually attract more money to your life with the power of Pre-Visualization .Now, that does mean you will not work and you will keep visualizing about the money and money will come to you. It doesn't work that way, you are actually training your brain to look for it. It is almost like searching great books in online store to buy or to read.
Rule 5 : Buy assets not liabilities
We all love to buy cool gadgets, but Billionaire and Millionaire see it as a waste of money. Here is why? your 20 lakh watch can show the same time a 250 Rs watch can do.
And that is why? We must educate ourself the difference between assets and lialibities.Assets-bring money- you're land is an asset- because it can bring money. How? You can build a shop there or open a farm which ever you which like to build.
Anything, that cause you money is liabilities and anything that bring you money is an asset. That is why? you don't see successful people wearing expensive clothes/watch and so on. Cause, they know - if they go after liabilities, it will cause them money.And in return, they will have to work harder to maintain their lifestyle.
Originally written by Bodo Media
Some
suggestion and further reading recommendation
1.
Rich Dad and Poor Dad by Robert Kiyosaki : https://amzn.to/3j1N8pS
2.
The Millionaire First Lane
M.J.DeMarco : https://amzn.to/2QhzMtl
3. Psycho Cybernetics : https://amzn.to/34oOJ54
4. Train your brain to make more money by John
Assaraf:
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