There are ten key wealth-building principles that lead to true wealth, not just monetary wealth. The objective is not just to become rich, but to build a balanced, fulfilling, wealthy life.
These ten key principles will help keep you on track:
- Build Wealth For A Deep Cause: You must know WHY you want wealth. If you do not know WHY you want it, then it will be almost impossible to acquire. Money alone is too shallow a goal to motivate you to overcome all the obstacles that stand between you and wealth. When you find a deeper goal like freedom, growth, creativity, or charity, then you’ll have the internal motivation to persist and succeed.
- Give More Value Than You Take: When you give value then your financial success becomes a measure of how much you have given to the world. It’s a satisfying way to live.
- Live with 100% Integrity: Integrity is non-negotiable because no amount of money can replace a good night’s sleep, a clear conscience, and a peaceful mind.
- Be Courageous: Wealth results from doing what others won’t so you can have what others never will.
- Be Disciplined: Life will conspire to distract you from achieving your goal. Only the disciplined will stay the course with consistent enough action to get results.
- Avoid Conspicuous Consumption: Nobody ever spent their way to financial freedom. Every day you make a choice between consumption today or wealth for tomorrow. Conserve – avoid impressing others and purchasing “things” you do not need.
- Build Supportive Environments: The path of least resistance to wealth is paved by supportive environments that literally pull you toward the goal.
- Apply Leverage: Leverage is what separates those who achieve wealth from those who don’t. You can’t reach the goal by trading time for money, and you can’t do it all yourself. You need leverage.
- Treat Your Wealth Like A Business: As a wealth builder, you’re in the personal financial management business and must manage your net worth just like an executive manages a successful business.
- Steward Your Wealth: Money is little more than a tool that comes with the responsibility to use it wisely. It’s not something you possess, but something that passes through you and must be given back.