How to unlock your wealth and live a debt free life
04Apr

Wealth. We all want to be wealthy. Everyone wants to be rich. We all want to be like the Bill Gates of today, but we hardly study the habits of the wealthy. But we forget, that lasting wealth takes time, wise investments, great control of your appetite and perseverance. Your fasted way to get wealthy is avoiding instant gratification. You don’t need to buy everything your heart desires. You don’t need to wear the most expensive of jewelry if you want to have lasting wealth and riches.

 

One thing that would surely stop you from going far, is DEBT. Do you want to rest easy and sleep soundly? Start gradually freeing yourself of your debts and start living a debt free life. Avoid buying things you do not need. Pay your credit card full. If you only pay the minimum amount every month, you will pay high interest that is the equivalent of paying your purchases multiple times. Would you like to pay for your new TV 3 times? If you want to laugh a little, look at the bottom of your credit card statement. It indicates how long it will take to pay off your balance if you only pay the minimum amount. Say you have a balance of $ 1,700 to pay, it takes about 15 years and 10 months to repay the debt. That makes you smile yellow, doesn’t it? The hardest thing for the human being to resist is instant gratification. He wants everything and immediately. Unfortunately, it is often in this way that one accumulates debts and very often for completely useless things. Tell yourself that all the trinkets, all the big and small things that you covet will end sooner or later either by breaking, or they will need to be repaired or they will eventually give up the ghost.

 

If you wait at least 48 hours before opening your wallet, often you will realize that you may not really want this object. And if you sometimes envy the gadgets of others, remember this charming proverb which says “The grass is always greener on other side…” until we discover that it is artificial turf! Mark Zuckerberg, who is the 6thrichest man in the world, with a net worth of $67 billion drives a Honda that is worth $20,000. He could as well buy the most expensive of cars, mansions, and yachts, but he chose to ride almost every day in his Jazz. That is a man who has control of his appetite.

 

Before you buy anything, ask yourself the following question: Do I really need it? How many hours should I work to pay for this thing? What values doe this add to my finances?

 

More: One of the best books on becoming wealthy is “The Richest Man In Babylon.” The books boast of no bigger secret than SAVINGS. It teaches that if you can save one-tenth of your earning, and invest it, you would eventually find yourself a wealthy person.

Ilias Aghrim
ABOUT THE AUTHOR
Ilias Aghrim
Ilias Aghrim is an entrepreneur and online marketer from Germany. He is the founder of Millionaire Thinking, Miss Orient and the CDO of the Smart Students and Youpendo App. When not building online businesses or apps, he can most often be found at the gym, the library or traveling the world.
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