66 Quotes on WEALTH from Successful Millionaires

Being a successful millionaire and having an enviable lifestyle is the result of the way you live. And the way you live is nothing more than a response to the quality of thoughts you harbor in your mind.

That’s why if you want to be a millionaire, listen to someone who’s already done it. Or put another way, be inspired by these millionaire phrases.

Be assured that these millionaire phrases will not only inspire you, but show that what you have built in your life is a result of your way of thinking, not chance of fate.

Phrases from Millionaires on Wealth

1. Poor people have a big television. Rich people have a great bookstore: Jim Rohn

2. Never rely on a single source of income. Invest for a second one: Warren Buffett

3. It doesn’t matter how you live. It doesn’t matter what car you drive. It doesn’t matter what kind of clothes or brand you wear. The more you stress on your account, the harder it will be to focus on your goals. The cheaper you can live, the more options you’ll have: Mark Cuban

4. Never do something to simply make money. If this is your motivation, you better not do it: Richard Branson

5. Have fun. The game is much more fun when you try to do more than just make money: Tony Hsieh

6. Be grateful for what you have, and you will end up having more. If you concentrate on what you don’t have, no matter what you achieve, it will never be enough: Oprah Winfrey

7. It’s not about how much money you make, but how much you have left, how hard you work for yourself and how many generations you will have left: Robert Kiyosaki

8. Don’t tell me how much you’re worth, show me your budget and I’ll tell you how much you’re worth: Joe Biden

9. Don’t think in terms of taking big risks to get big results. Think of the least amount of risk for that great result, and be disciplined about it: Tony Robbins

10. Know what you have, and understand why you have it: Peter Lynch

11. Stop buying things you don’t need to impress people you don’t care about: Suze Orman

12. The best reward for becoming a millionaire is not the amount of money you earn. It’s the kind of person you have to become to become one: Jim Rohn

13. Financial peace of mind isn’t about buying a lot of things. It’s about learning to live on less than what you earn, so you can help others and have something to invest in. You can’t win until you do this: Dave Ramsey

14. To win big, sometimes you’ll have to take big risks: Bill Gates

15. Save a third, live with a third and give a third: Angelina Jolie

17. I think of my business and investments as extensions of my family: Barbara Corcoran

18. If we were motivated by money, we would have sold Google and we would have been on the beach: Larry Page

These initial millionaires’ phrases show that the richest people on the planet had to have very different thoughts the rest of humanity to reach the level of wealth in which they find themselves today.

In conclusion, if your goal is to become rich, you will have to change your perspective on money and how you relate to it. These quotes from successful millionaires and entrepreneurs will help you achieve this.

Mark Zuckerberg, founder of Facebook

19. My goal was never to start a business. Many people misunderstand this, as if it means that I don’t care about income or profitability. But for me, this isn’t the only thing – it’s also creating something that really impacts the world.

What do you have to say about one of the most successful investors of all time and what are his favorite millionaire quotes? Warren Buffett.

20. I will tell you how to get rich: Close the doors. Be cautious when others are greedy, and be ambitious when others are afraid.

Evan Spiegel, founder of Snapchat

21. There are very few people in this world who can create a business like this impact. I’m not interested in trading this for some short-term profit (regarding the possibility of selling Snapchat to Facebook).

Oprah Winfrey

22. The reason why I have been able to be so successful financially is because my approach has never, not for a minute, been money.

Michael Bloomberg, founder of Bloomberg

23. I think the more money you put in people’s hands, the more money they will spend. And if they don’t spend it, they will invest it; and investing the money is another way to create jobs.

Larry Page, co-founder of Google

24. If we were motivated by money, we would have sold Google and been on the beach by now.

Jeff Bezos, founder of Amazon

25. I think that simplicity leads to innovation, as do other kinds of restrictions. One of the only ways out of a safe is to invent a new way to do it.

Sergey Brin, co-founder of Google

26. You always hear the phrase money doesn’t buy happiness…but I thought in the back of my mind, that a lot of money could buy some of it, when the reality is that it doesn’t.

Jack Ma, founder of Alibaba

27. Making money today is very simple. Doing it responsibly with society and improving the world is when it becomes difficult.

Ingvar Kamprad, founder of IKEA

28. I’m a little tied up with money, and what’s wrong with that? I think about the money I’m about to spend and wonder if IKEA customers can afford it…. I could travel first class, but…

Michael Dell, founder of Dell

29. I think you have to understand the economics of a business before you have a strategy, and you have to understand the strategy before you have a structure. If you do this in a mess, you’ll most likely fail.

30. Life is too short to share with people who are not resourceful: Jeff Bezos

31. When you innovate, you have to be prepared for everyone to tell you you’re crazy: Larry Ellison

32. We make the future sustainable when we invest in the poor, not when we insist on their suffering: Bill Gates

33. When something is important enough, you do it even when the odds are not in your favor: Elon Musk

34. It is our choices that show what we really are, much more than our abilities: J. K. Rowling

35. What God intended for you goes far beyond what you can imagine: Oprah Winfrey

36. I told my son, You don’t have to be in the top three of your class. Being part of the average is fine, as long as your grades aren’t bad. Only such people have time to learn other skills: Jack Ma

37. I think a simple business rule is, if you make things easier first, then you can really make a lot of progress: Mark Zuckerberg

38. It’s simple arithmetic: Your income can only grow as much as you do: T. Harv Eker

39. Formal education will make you live; education will make you a fortune: Jim Rohn

40. The only difference between a rich person and a poor person is how they invest their time: Robert Kiyosaki

42. Before you can become a millionaire, you must learn to think like one. You must learn to motivate yourself to counteract fear with courage: Thomas J. Stanley

43. You can’t work three hours a week and earn $100,000. The mud pot mentality always defeats the microwave mentality: Dave Ramsey

44.The rich have small televisions and large libraries, and the poor have small libraries and large television sets: Zig Ziglar

45. I have come to the conclusion that wealth is a state of mind, and that anyone can acquire a state of mind of millions by having rich thoughts: Edward Young

46. All riches have their origin in mind. Wealth is in ideas, not money: Robert Collier

47. Every day is a bank account, and time is our currency. No one is rich, no one is poor, we each have 24 hours: Christopher Rice

48. Disneyland is a work of love. We didn’t create Disneyland just for the sake of making money: Walt Disney

49. What keeps you from being rich? In most cases it is simply a lack of belief. To get rich, you must believe you can do it, and you must take the actions necessary to reach your goal: Suze Orman

50. Wealth is largely the result of habit: John Jacob Astor

51. All achievements, all the riches gained, have their beginning in one idea: Napoleon Hill

52. Too many people spend the money they earn to buy things they don’t want, to impress people they don’t like: Will Rogers

53. Economic problems are not solved with money, they are solved with imagination. Anthony Robbins

54. The secret of my success was to surround myself with people who were smarter than me: Andrew Carnegie

55. Money will not make you successful. The freedom to win it yes: Nelson Mandela

56. I refuse to feel guilty. I feel guilty for too much in my life, but not for the money, I went through periods when I had nothing, so someone in my family has to become rich: Jim Carrey

57. Money cannot buy happiness, but it will certainly give you a better kind of memory: President Ronald Reagan

58. Don’t play games you don’t understand, even if you see a lot of people making money with them: Tony Hsieh

59. The road to wealth depends on only two words, industry and frugality: Benjamin Franklin

60. Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are: James W. Frick

61. Wealth is not about having a lot of money; it’s about having a lot of options: Chris Rock

62. If your only goal is to get rich, you will never make it: John D. Rockefeller

63. A budget tells your money where to go, rather than asking where it went: John C. Maxwell

64. Compound interest is the eighth wonder of the world. He who understands it, wins it; he who does not, pays for it: Albert Einstein

65. Lack of money is never a problem. Lack of money is simply a symptom of what is happening inside you: T. Harv Eker

66. All wealth comes from adding value, from producing more, better, cheaper, faster and easier than anyone else: Brian Tracy

If you want to achieve financial independence, you’ll have to read these millionaires’ phrases several times and live by their principles.

Wealth is something that takes time, so invest in yourself, your knowledge, resources and motivation.

And there’s no better way to motivate yourself to achieve your financial goals than by being inspired by those successful millionaires.

45 Learnings on Wealth Creation from the book “The Secrets of the Millionaire Mind”

The book “The Secrets of the Millionaire Mind” is a must read if your goal is to learn how to be a millionaire.

Why you should read this amazing book?

Financial independence is the result of your knowledge of investing your money and managing your personal finances.

And this book aims to train you on how to deal with money, and how to develep mentality to attract abundance to your life.

After reading this book, we have summarized 45 most important teachings which can be applied in your life. These findings are listed below.

Understanding the importance of money, what to do with your income, and how to invest your money, the teachings of the book “The Secrets of the Millionaire Mind” brings together everything you need to change your lifestyle and create wealth.

So here are the learnings and phrases from “The Secrets of the Millionaire Mind” –

1. Don’t complain, blame, or justify yourself

You are responsible for what happens in your life.

So, every time you’re complaining about something that happened, blaming someone for your reality, or justifying the life you’re leading, realize that you’re accepting that you’re capable of controlling your life, and that you’re just someone who lets yourself go where others want you to go.

2. Write down every day something that went right and something that went wrong.

Ask yourself, what did you do to make this situation happen, and how responsible are you for it? This small exercise, done daily, will keep you aware that you are the one who controls what happens in your life, not others, not the moment, not the situation. It’s only you.

3. Do you have financial objectives?

Encourage yourself to write down 5 goals related to your financial future that reflect your desire and conviction to achieve wealth, not comfort or financial stability. Go further and focus on abundance.

While these goals must be realistic and time-bound, you must look beyond something easy to achieve.

4. For once forget about the menu prices

Visit a restaurant, café or place that is exclusive and ask for what you want, not what your wallet is capable of. You must have a mentality of wealth creation. Otherwise you will stay in the place where you are today.

5. Wealth must be important to you.

Concretely write why wealth is important to you, and why you want to achieve it.

6. Commit to being rich

Declare that you want to be rich and commit yourself to doing it by writing:

I, _________, commit to reaching wealth and being a millionaire before ___________.

Sign it and stick it on your wall, or give it to a friend or family member who reminds you of it. After doing this, analyze how you feel…afraid? free? or just no feeling?

By not doing committing, you may not work towards achieving your financial objective, and stay where you are today.

7. Identify your talents

We are all born with talents that set us apart and allow us to stand out from the crowd. So what is yours?

Write them down and think about how you can use them more in your life, in what area and place.

8. Impact more people

Surely your job involves solving a problem, generating alternatives, or presenting opportunities. Someway or the other you influence someone else with what you do.

With this in mind, think about how you can solve this problem for 10, 20, 30 more people, think about different strategies and alternatives.

In the case of entrepreneurship, you might consider these ideas for earning money online and reaching millions of people.

9. Execute, execute and execute.

The time has come to execute that project, business idea, or situation that you have wanted to give life to for so long.

Whatever reason or excuses you’ve had in the past, whatever circumstance you find yourself in, or whatever you’re imagining…START RIGHT NOW. Execute it, with your best capabilities and make it a reality.

10. Be an optimist

Everything that happens in your life can be an opportunity and not an obstacle. It is a question of how you look at it – Seeing the glass half full or half empty. But abundance does not admit half empty glasses and pessimistic mentalities.

11. Focus on what you have

Focus on everything you have, not what you lack. Write down 15 things you have and are grateful for. And every morning you wake up, read them, and understand that if you don’t appreciate what you have, you will never have anything more.

12. Admire what you want

Instead of criticizing and judging those who have money, beautiful houses, luxury cars and other possessions, admire them and bless them.

In other words, admire those people who are successful and have full of wealth. There is a simple reason to do so: you will not get what you criticize, you will achieve everything you admire and seek.

13. Write a letter to someone you admire

Take the time to write a letter to someone you admire. You don’t have to know them, just write them why you admire them and how you appreciate their achievements.

14. Get inspired by a book

There are books about people who were extremely successful and who can inspire you.

Biographies like Steve Jobs’ and other characters can teach you the strategies and, above all, the perspective of wealth that led them to the level of success they have achieved.

15. Join a club

Surround yourself with successful people. That’s the intention to join a tennis club, a business club, a golf club, a coffee club, anything.

If you can’t afford their memberships, visit an exclusive place in your city, ask for something, and analyze how these people behave. You’ll understand that they’re no different than you.

16. Out with the negative

That negative person next to you should be away from you. All he is doing is diverting you from your objective and desire for wealth; if he is a relative of yours, however difficult it may be, you should ignore his company.

The same thing happens with that place or situation that only brings you negative thoughts and ideas. Get away from this.

17. Break up with your TV

The relationship you’re having with the TV is not healthy. And you should know that, the amount of hours you spend on it every day is taking you away from your goals.

18. Evaluate your products

What score does the product or service you are selling or about to sell deserve?

If you think it has a low rating, you should stop offering it immediately. There is no reason to sell something you don’t believe in.

19. Sales Expert

Sales person searches for books, hears from experts, attends sales courses and talks in order to learn how to sell.

There is no wealth without the ability to sell and market. You must learn to sell your skills, abilities, experiences and techniques. You must learn to sell yourself.

20. The size of your problems depends on your mind

The situations you face in your life are neither big nor small, they are not impossible or simple…they are simply situations analyzed from a certain point of view.

If you are pessimistic, all your problems will be immense and impossible to solve. If you do not consider that you are ready to face it, every situation will be difficult.

Change your perspective and be assured that you are bigger than any problem.

21. Solve a problem

Think about that difficult moment you are going through. Now write it down on paper along with 10 concrete and immediate actions that you will implement to solve it.

This little exercise will make you focus on the solution and not the problem, and will certainly help you to put an end to it.

22. Learn to receive

From now on, every time you receive a compliment, simply say thank you. Learn to practice the attitudes and behaviors you receive.

Many times when they tell you something positive, you usually respond by saying another compliment to the person who told you. While this is not bad, you must learn to receive and feel the pleasure of reward.

And when someone deserves a compliment, give it to them, and don’t expect anything in return.

The book “The Secrets of the Millionaire Mind” teaches you to value yourself, and reminds you to celebrate your goals.

23. Celebrate your money

No matter what money you earn or receive whether you find on the floor, the lottery, your salary, your taxes, a bonus… whatever it is, celebrate it and thank the universe for receiving it.

All the thoughts you harbor in your mind are reflected in reality. So every time you celebrate the money you receive, the universe will take care to put more of it in your pocket.

In fact, you could use some of these success phrases to remind yourself of the importance of thanking you for the money you have.

24. Pamper yourself

Once a month you should do something satisfying. Something like going for a walk, renting a boat, eating in a class restaurant, getting a massage, resting in a hotel for a night, being taken care of all day in bed.

The goal of this day is to make you feel like a millionaire, rich and deserving. These kinds of experiences reflect your abundance.

25. Charge for your results, not your time

If you are currently earning a fortnightly or monthly salary for going to work for certain hours, propose to your boss or company to allow you to receive part of your salary based on your results or productivity.

If you have a business, generate a strategy where your employees, partners and suppliers win based on the sales results.

Additionally, make sure your salary is not your only source of income. Try these extra income opportunities.

26. Change jobs

If you are employed and feel that you are not being well paid, or that your pay is not fair to your results, consider starting your business.

You have many ways to start, some possibilities are: part-time, advising other companies, doing consulting. Consider each of them based on a system of changing by result, and not just by time.

27. Have a mentality of abundance

Why can’t you have the two things they’re offering you? Many times they make proposals where you have to choose one of the options; try to think and analyze what you have to do to get both.

28. Money in circulation

Money works on money created within a society. It comes to you, and then it goes to other people.

So every time you spend or decide to invest your money, remember that it is generating value for the person who is receiving it, and that you are part of that process.

29. Become a role model

Practice and lead a lifestyle in which you are aware that you are a role model for others. Behave in a way that inspires others to change, being kind, humble, generous and above all rich.

30. Wealth factors

Focus on each of the elements that make up your wealth:

  • Earn extra money by increasing your income
  • Learn how to save your money
  • Increase your return on investment
  • Simplify your lifestyle by reducing unnecessary expenses

31. Calculate your wealth

Do you know how much your net worth is yet? If you want to find out, you have to add up everything you have, everything.

This is known as assets which consists of your house, apartment, car, computer, clothes…all your belongings.

Then subtract everything you owe, which is known as liability. Commit to reviewing this value every three months and decide which one you want to focus on: your assets, or your liabilities?

32. Invest in your retirement

In the book “The Secrets of the Millionaire Mind”, the author suggests that you open a bank account where you will deposit 10% of your salary and the rest of your income each month.

You must promise never to spend this money, you are only going to invest it with an objective of getting returns and income for your retirement.

33. Start a piggy bank

From today onwards take a jar from your kitchen and start depositing as much money as you can along the way.

No matter how much you save, whether it’s $1 or $10 a day, the important thing is that you understand the importance of saving and its long-term benefits. Surely this dollar in a year’s time will be hundreds.

34. Create multiple bank accounts

You have two options, open an account or start a new piggy bank. Whatever you choose, deposit 10% of your income there and you will use this money to have fun and play; spend this money on what you like.

If possible, you must try to have atleast 3 accounts:

  1. Long-term account: You will deposit 15% of your income there for long-term expenses.
  2. Basic needs account: The remaining 75% of your income will be used to live on and meet your most important needs
  3. Training account: 10% for all the courses, diplomas and classes you wish to attend.

35. Properly manage your money

Whether you’re earning a minimum wage or earning thousands of dollars a month, you should start managing it today.

One of the key teachings of the book “The Secrets of the Millionaire Mind” is to take care of your money by putting it to good use.

It is very important that you begin to divide your income into the respective accounts, even if it is 10 cents that you have to put into each of your accounts.

36. Inform yourself and prepare yourself

There are many ways to learn and prepare for wealth. You can attend seminars, courses, read books, subscribe to investment magazines. This does not mean that you should follow the recommendations. It is about surrounding yourself with this knowledge, understand the concepts and have some idea of where the economy is going.

The important thing is that you learn to invest.

37. Passive income

In the book, it is made very clear that you need to generate both types of income: the assets that are the product of your work and presence; and the liabilities that do not need your presence or work.

There are many ways to generate the latter, such as by investing in a stock exchange or a business.

38. Buy real estate

T. Harv Eker couldn’t have said it better in his book “The Secrets of the Millionaire Mind”:

“Don’t wait to buy real estate. Instead buy real estate and then wait.” Got it?

39. Concerns about money

Identify and write on paper what your main fears, concerns, or reservations are about money and wealth.

The best thing you can do is to ask yourself what would happen if each of these situations came true, and then to think about whether you would survive them.

Most likely you will. So stop worrying and get rich.

40. Get out of your comfort zone

Make decisions that you know will be uncomfortable for you. There is no other way to learn how to get out of the comfort zone in which you have decided to live.

Some of the situations you might experience are: talking to strangers, asking your boss for that promotion or salary increase, getting up earlier, changing your route…

41. Challenge your “can’t”.

Among the teachings you will find in the book is to practice controlling your mind and thoughts.

You must analyze each of the thoughts you harbor and determine how they affect your reality. This is known as mental discipline.

Whenever you are dominated by your “I can’t”, “I don’t want to”, “I am afraid”, remember that most of your decisions are being made on the basis of your fears and not on the basis of your desires.

Stay away from security and aspire to freedom. The best way to achieve this is that every time you feel afraid, do the same, and you will understand that your success is not limited to your fears.

42. Focus on your growth

Make a commitment to read a book every month, attend a personal finance course, an investment seminar…

Remember that you are the best asset you can invest in.

43. Make a commitment to someone

Talk to someone else about your financial goals and objectives. Commit yourself to that person close to you and ask them to evaluate you constantly.

While you need to have a commitment to yourself, it is important that someone else is aware of your process and desires. This will help you to achieve this in a faster and easier way.

44. Don’t settle for your current situation

Everyday is an opportunity to get closer to your financial goals. It’s not just about reading this book. It’s about building a lifestyle where every day you seek to improve from the day before.

The wealth, the money, and everything you have is the product of the thoughts you harbor in your mind, the conversation you have with yourself every day.

So when you learn to master your mind, you will have learned to build your wealth. This is what “The Secrets of the Millionaire Mind” is all about.

45. Read the book “The Secrets of the Millionaire Mind”

This book has changed millions of minds, and in it you will expand all your practical knowledge of this guide.

Rest assured that your life will change once you decide to read the book and implement few of the teachings. And you will understand that the mind is your main resource for building your wealth.

9 Ways to Earn Money While Studying in a College

There is no doubt that the time during the university days is the best of all. And it can be hardly argued, isn’t it? It is the time when you grow as a person professionally, build networks, decide your career path and many more. But it is also the time when you live on a strict budget and are always on a lookout for ways to make money.

However lack of time for studies and little work experience make finding a job a real challenge. And if you find work, it will always be part-time. So you’ll have to work work hard to make ends meet.

However, there are many ways for you to earn money while studying in college and without affecting your grades.

And here’s how:

1. Find out more about the scholarships and apply

Colleges usually have a scholarship program to help their students. All you need is good grades to be able to apply for one.

However, there are other institutions or websites that offer university scholarships, so it is a matter of researching all the different possibilities available.

2. Become a tutor

Do you excel in any subject? E.g. programming, designing, playing musical instrument, etc. If your answer is yes, then you should start taking advantage of that to make extra income while in college. Contact one of your professors to see if there is a chance that the university will pay you for a course.

Also, you can put up posters (i.e. advertisement) around the university where you offer your services as a tutor on a certain subject. Be flexible and give them the option of both personalized as well as group tutoring.

And definitely you will find students needing a trainer.

3. Take notes for someone else

In every university there are students with disabilities who need extra help to study. Nowadays it is very common to see the university assign another student to take notes, perform tasks on the computer, print them out or send them by e-mail. It’s an hourly task and you get paid too.

4. Correcting student work

This job is ideal for those who have impeccable writing and spelling skills. This not only allows you to earn money, but also continue learning.

In addition to reviewing their written work, you can offer to make presentations. Post ads on your social networks, and distribute small posters at the university, you’ll see that many students will contact you to get their job done!

5. Apply at the university’s employment program

Universities always have employment programs for their students. One of the biggest advantage of such program is that you can change your schedules according to your classes without any problems.

It is common to find employments such as secretary, librarian, cafeteria assistant, or receptionist.

6. Sell your study material

If at the end of each semester your books are in good condition, then you can sell them to other students or at used book stores.

It is normal for anyone to buy books which would be never used again. So what’s the point in keeping them?

7. Sell food

Everyone in this world has craving for some special food. And when you are young then definitely you will have more cravings. This can be a good money making opportunity. What you need to do is researching on what food is not sold in the cafeteria and then offer it to your classmates. For e.g. cakes are loved by most of us and if your cafeteria don’t sell cakes or dessert, it’s your chance to make it available and earn money doing this.

In addition, you can offer breakfast services on request, you only have to make ads with good pictures and spread the news.

8. Look for a job as a waiter

Working as a waiter is a good way to generate extra income, as you earn money through tips in addition to your salary. In fact, the amount of money you make in tips is always more than the salary you get.

You can make money as waiter, a food delivery boy, a bartender and others.

9. Share your car

If you have a car, you can make the most of it. There are students who live far away or who need to go to a certain place but do not want to take public transport or pay a lot for a taxi.

Offer your services like transportation for lower fares. But remember to charge a reasonable money as students don’t have much money.

Being a college student and making money at the same time is difficult, but it depends on your attitude and flexibility to make this change. In addition to the above mentioned options, there are many other ways to earn money while studying. But the above listed ones are most common and tested by students worldwide especially in the United States and United Kingdom.

So it’s time to get creative and start making money while studying.

9 Tips for Better Debt Management/Recovery – Planning & Saving

If you feel that no matter how hard you try, you can’t fill the debt gap, and on the contrary, it gets bigger or you plan to buy new credit, then read this article to avoid making your situation worse.

First do the analysis of how your debts are going…. and not wait until the end of the year when you are already immersed in a series of obligations and end up being another purpose again for the year that begins.

For the honest man, debt is a bitter slavery. And historically, debts have been stigmatized as a bad habit, which instead of helping in life become a growing burden.

But if you know how to manage your obligations, they can be the best ally to achieve your goals. Debt allows you to get goods and services that have a high value. And knowing how to manage these obligations will guarantee you to enjoy everything you have achieved, or else you may losing everything.

So here are some guidelines for debt recovery

1. Review your debts

Typically, mortgage debt, personal loans, and vehicle debt make up the majority of your total financial obligations. Analyze how you have these obligations distributed and begin to organize your payments to phase them out.

2. Start paying off higher-interest debt first

Some debts are difficult to pay because they grow uncontrollably over time. Analyzing and paying these obligations early will ensure that you avoid paying even two or three times for the product or service purchased. If you have several debts with similar interest rates, pay first the one with the lowest balance, this will allow you to feel free and will motivate you to continue paying the rest of your commitments.

3. Make a payment plan

Depending on your ability to pay, start paying off high interest debts so that you can lower your amount in the future. If, on the other hand, these obligations are too high, start paying off the debts of small installments, so that you can get more cash flow and you can start making your payments of highest installments.

4. Reduce time and no fees

When you are called by a bank or financial institution proposing to reduce the fees you have been paying, what they are doing is increasing the term of that obligation, and thereby increasing the interest you were scheduled to pay. What you should do is shorten the term of the debt so that you end up paying less interest on it.

5. Reduce your monthly expenses

Lack of cash flow is often a barrier to debt reduction. But have you really thought that these “unnecessary” or “whimsical” expenses could become the fee you can overpay? Simply review what expenses are not needed on a day-to-day basis and at the end of the month you will have a percentage of cash that you can use to reduce some of your major debts.

6. Make progressive savings

Most people know that saving is very important, but why don’t they do it? The main reason is that they do not have a simple and effective method. If you start by saving $2,000 and daily increase that savings by $500, you will have $1,005,000 after 60 days. Do not use this money for buying something expensive but to pay off a debt, or why not generate a new source of income. This is a very simple method recommended by financial experts.

7. Eat healthy, stay healthy

It is proven that eating fruits, vegetables, fish meat, mineral water, is healthier and improves our body; it is also more economical. In contrast, all processed, pre-cooked foods contain components that are detrimental to your health. The no. 1 cause of illness is poor nutrition, so this point not only generates savings in the present but also avoids high health costs in the future.

8. Eating at home is healthier, more enjoyable, and financially smart

Eating in a restaurant is practical and very simple, and avoids the need to clean the kitchen and other requirements. But actually eating out can be 3 to 5 times more expensive than eating at home. Preparing food at home helps not only your health but also your financial balance.

9. Provisioning is better than borrowing

There are expenses that are not incurred every month, but every six months or every year. Taxes are one such issue. So it is best to set aside an amount of money each month for this and when the time comes you will not need to resort to a loan or financing for this payment.

All purpose requires effort and sacrifice, if you learn to manage your debts and financial obligations you can achieve great things in a shorter time than you might have imagined. There is still time to correct bad practices or improve your financial habits.

How to Save, When You Earn Little

Saving should be one of the main objective of everyone including businesses. Let’s understand why and the best ways to do it.

It is not a coincidence that restaurants, as well as shopping malls, among other places, are usually full on the payment date of companies whereas opposite is the case, i.e. days before the payment, as it has very few people. The reason is very simple – the financial habits of the people.

The financial culture of most people is the reason why they live in debt and the money they receive disappears quickly.

Savings can be a solution to this problem, as a worker with money in reserve, in his or her accounts is safe from any eventuality. You can’t expect to earn more money to save, nor can you think of salary increase as an opportunity to spend, nor visualize saving as a sacrifice, rather than an investment.

To talk about savings,it is also necessary to talk about expenses, because many do not understand what this implies, nor do they seek to change consumption habits that keep them empty. Remember that to buy something it is better to have a savings, because if you do it with a credit card you end up paying 20% or 30% more for the same product.

Surely it must have happened to you that on a busy day, when you were in many different places and paid multiple costs for meals, transportation, and the occasional gifts, you finally realized that everything you had in your pocket was gone. This happens because you didn’t have any control over the expenses, since you didn’t have the budget to spend that amount of money for that day.

To save money, you must have a strong conviction, so it is advisable to have an incentive, this may be to pay for a trip, a house, a new TV or any other good or service you want. This will give you a goal and range of money to save.

Here are some tips to help you save money

Spend less on services

There are bills you pay every month and can be much cheaper, this is the case with utilities such as water, gas or electricity, most people spend more than they need, especially on water resources. You can spend less time bathing or washing your dishes with little water, you can also turn off the lights and turn off the appliances you are not using. For services where you can’t save money, such as the Internet or television, it’s worth checking to see if you can buy a cheaper package from another operator.

Make a budget

To prevent money from going out of your pocket, make budgets and record all your expenses so you don’t think money will fall out of your pocket and have more control. It’s even good for knowing clues to help you understand what expenses you can start saving on.

The budget should include an amount earmarked for savings, and in the case of families, you should try not to make daily expenses by visiting markets often.

Save the extra money

If a friend suddenly pays you back a debt that you wrote off, or you sell some property or got a bonus on the job, use this capital to save it for some purpose. Be strong and resist the temptation to spend it immediately.

Generate more income

You should not consider that your only source of income is the salary, which almost never goes up. Instead think of ways to get more money authentically. If, for example, you have free time, consider these hours as an opportunity to earn money, you can work as a freelancer or train for a better job.

Spend less by changing habits

To save you money you don’t need to go hungry or significantly reduce your quality of life, you can do it by changing habits that generate similar results. For example, you can ride your bike or carry lunch from home. And it’s also important to watch out for offers on day to day items. If there’s one thing the ‘spendthrift’ loves, it is the offers.

8 Things You Must Do Today to be RICH in the Future

There are two types of people in life: those who live in dreams and those who make their dreams come true. The former are usually the ones who, in addition to their pockets, also have a poverty mentality. They are the same ones who spend their days waiting for a better chance, for a better job or a higher salary and who one day will win the ballot. What’s more, people who wander off into the wilderness are often the most likely to lose money in illegal businesses such as pyramid scheme and to be easily sweetened up by others.

And the later ones are those who have the perfect reasons to take the time out to learn new things and gain experience and turn their dreams into a reality. While those who do work on a day-to-day basis to achieve their goals have their “feet on the ground”, even though they dream happy and successful. They know that they have to move to achieve it, that if they do not pursue their desires they will never achieve it, they do not believe in luck but in efforts. And they consider that the quality of who they are and the work they do is completely under their control. They decide to become the kind of person who naturally attracts success and simply seek it out.

This article is for all everyone but especially for people who are not clear and unaware of where they are going.

Listed below are some of the keys to success that will allow you to earn a good amount of money for your future provided you start planning and implementing them as soon as possible, in order for it to work.

Here’s the list of 8 habits which will help you to become rich:

1. Be firm in your objective: Do you believe in something? What is your conviction? If you know how to answer these two questions, then that’s great. Because you know what you really want. If not, you must start working on it, and to do so, you must identify what your liking is, which makes you devote your time to a specific objective.

Basically, it’s about your ability to answer the why of things, why do you do it? Or why did you choose this and not that? People don’t buy what you sell, they buy why you sell it. In this process what should stand out is the difference, what distinguishes it from the others.

2. Define what wealth and success are for you: There are people who believe that money is everything in life, while others believe that this is only the means to meet your goal. In fact the most successful people have demonstrated and assured on many occasions that money is a tool to get and do more work.

3. Don’t focus on time and effort, but rather on results: The only people who concentrate on working hours and hours without thinking about anything else are those who live in stability. People who only expect the monthly payment in their company regardless of the results of their work, team and/or organization, live in their comfort zone.

Ideally, you should change your approach so that with little you achieve much more. It is important that you relax, take time off for rest and personal development, and that you arrive more recharged and full of energy for your work activity.

4. Set goals without fear: Write down your goal on a piece of paper, write down why you have that goal and not other. And add how you would measure the accomplishment of that goal to see if you are really working on it. Doing this task will help you to remember your achievements everyday and make them a reality.

5. Create a win-win strategy: Healthy competition is good because you strive to highlight and demonstrate how capable you are. Yet when competition is focused solely on winning, the real solutions are set aside.

But when you open up to others, you realize how much you can get from other people who are specialists in other areas. Remember that collaboration creates a unique, mutually supportive connection that is useful in meeting the objectives outlined above.

6. Don’t work for money, work for learning: Even if you don’t believe it, doing this will bring you many benefits. The first and most important one is that you will be happy because you are passionate about what you do. It is as simple as that. If you don’t feel comfortable with your work, you will live your whole life in vain and bitterness.

In fact, you should only spend 20% on your real work and the rest is to improve, learn and rest, this will help you become a better professional. The sacrifices will then be rewarded, because if you are dedicated to learning over time you can charge more for what you do because no one else will know how to do it.

7. Invest at least 10% of your income in yourself: It is the same as any other type of investment, profitability will be achieved over the years, either with the goals achieved, the money earned or simply professional satisfaction. The good thing about investing money for yourself is the feeling of appreciation and the seriousness you put into what you decided to study or do to improve your situation or your knowledge. Remember to always surround yourself with the best of the best.

8. Invest in things that make you more money: Many people aspire to get a high salary and a position of greater recognition with the goal of a better quality of life from the time they first start working. But when they do, they forget that the job can’t last them a lifetime and that the money has to be grown, not wasted on purchases and luxuries, which after a few days have no value.

If you want to have a good living for your old age, you should think of investing as an important vehicle for making money. It is never too late, the important thing is the intention and start as soon as possible with the support of an advisor or expert.

Don’t wait for the situation to get better overnight, work on what you want and be confident. And if you really want to have a lot of money, start doing this as soon as possible.

Rs.5000 Income: Credit Card @2% Interest from Syndicate Bank for Poor Earners

Credit is needed by almost everyone especially at the time of need. And such individuals either meet their requirement from their own savings, ask their friends/relatives, or take financing from lenders such as banks, private money lenders, peer to peer lending companies, and others.

However there is one financial product known as “credit card” loved by people across the world. And the main reason for its attraction is the free money which the card issuer (mostly banks) provides every month and time frame to pay back the credit used. In fact, it is the widely accepted payment method worldwide and you can buy whatever you want. Be it – expensive clothing, jewelry, etc.

But there is a myth amongst people especially low income group individuals that credit cards are offered only to high income earning people. And this myth is false. There are many banks in India requiring very minimum income for the credit card.

Syndicate bank offers 3 credit cards for low income earners having income less than Rs. 10,000 per month. For income less than Rs. 15,000 per month there are 4 credit cards.

Here is the table showing list of such cards and the minimum income required:

Sr. NoCredit Card NameMinimum Annual Income RequiredEquivalent Minimum Monthly Income
1Classic for SalariedRs. 60,000Rs. 5,000
2Classic for Senior CitizenRs. 60,000Rs. 5,000
3Classic for Self EmployedRs. 1,00,000Rs. 8,333
4Gold for SalariedRs. 1,50,000Rs. 12,500
5Gold for Self EmployedRs. 2,00,000Rs. 16,666

Features of Credit Card

  • Since the product is targeted towards low income earning individuals, there is no annual fee or joining fee.
  • For a security point of view, card has photo of the owner.
  • Interest charged is just 2% per month.
  • Minimum free credit period is 20 days and maximum is 50 days.
  • Card owner can get a supplementary card (also called as add-on card) for his/her family member. Add-on cards is one of the best way to build credit history for a beginner (especially housewife, student, and others). And most importantly there is no credit history check for the secondary card owner. However such cards are issued only when primary card owner has good repayment history and has used the card satisfactorily i.e. within the credit limit, no payment default, has done full repayment before the due date and so on.
  • Like other credit cards in the market, these cards can also be used for cash withdrawal at ATMs and online/offline purchases. But remember that using the card for withdrawing money from ATM carries a charge and also affects credit score. So try to stay away from frequent withdrawals, as it indicates being credit hungry.
  • Non-Resident Indians and Persons of Indian Origin are also eligible for this card provided they hold account with the bank.

Check out credit card for NRI.

Documents Required

  • For Salaried – computerized pay slip, salary certificate, form 16 and IT return acknowledgement form
  • For Self Employed or Businessmen –  Form 16 A, IT return, Form No. 10 CCAC
  • For Senior Citizens – They have to be pensioners of the bank.

In addition to credit cards, Syndicate bank offers various types of personal loan for low income earning individuals. The table below shows two loan products along with the minimum income required:

Sr. NoName of Loan ProductPurposeAnnual Income RequiredEquivalent Monthly Income
1Synd VahanPurchase of New Two WheelerRs. 50,000Rs. 4,166
2Synd KuteerPurchase and construction of residential plot, buying new or old dwelling units, Construction of house on already owned site/plotRs. 1,00,000Rs. 8,333

There are many other personal loan products offered by Syndicate bank but minimum income requirement is not available as follows:

  1. Synd Senior – For pensioners from government establishments who pension is routed through Syndicate bank. Minimum loan amount provided is Rs. 50,000. For such quantum of loan, the income required is typically low.
  2. Synd Swarna – For any genuine credit requirement for salaried and non-salaried person. Applicant can get minimum loan amount of Rs. 10,000. Since it is a gold loan, applicant has to deposit gold or gold ornaments as a security with the bank. Interest rate on secured personal loan are low compared to traditional personal loan without security.
  3. Synd Connect – This is for employees of government/public sector unit and, blue chip companies. 15 times of gross salary, loan amount is provided.

 

Vijaya Bank: Credit Card for Low Income (Rs. 4,167) Earners

Post demonetization, usage of digital payment methods has increased tremendously in India and hopefully citizens help making India a “less-cash” society. Digital payments include net banking, mobile wallets, debit cards, credit card and others.

Of these options, credit card is most sought payment method used. This is due to multiple reasons as follows:

  1. Card owner gets free money (called as credit) to use every month.
  2. There is a time frame (usually 20 days) given to make the repayment each month after the monthly bill is generated.
  3. Merchants offer rewards and cash backs on the card usage.
  4. Most importantly, it helps in building credit score and many others.

However the minimum income eligibility criteria for credit card keeps it out of reach of individuals earning low income. The reason is the repayment capacity. Non-payment of the credit is loss making for the issuer.

This is the reason, most of the banks in India, prefer giving credit cards to individuals earning high income. However there are many banks in India providing credit cards to low income earners (working or self-employed). And Vijaya bank is one such bank. The minimum salary/income asked by Vijaya bank are actually lowest and poor income earning individuals can easily apply and get approved.

Credit Cards from Vijaya Bank for Low Income Individuals

Vijaya Bank offers 3 credit cards – Visa Classic, Visa Global and RuPay. The card can also be taken against fixed deposit. Having a credit card against the fixed deposit offers many benefits and most important one being the credit history of the applicant is not checked.

Here is the table showing credit card along with the minimum income required:

Sr. NoCredit Card NameMinimum Annual Income RequiredEquivalent Minimum Monthly Income
1Visa Classic for Self EmployedRs. 50,000Rs. 4,167
2Visa Classic for SalariedRs. 60,000Rs. 5,000
3Visa Global for Self EmployedRs. 1,00,000Rs. 8,333
4Visa Global for SalariedRs. 1,20,000Rs. 10,000
5Vijay RuPay Credit CardNANA

But remember that income is the most important criteria for any type of credit approval (loan or credit card). But it is not the only criteria. In addition to the income; banks also check for employer, city you live in, your credit score, document proof. Salary slip is required for working professional and income tax return statement for self-employed. Depending on the case, bank may ask for additional documents as well.

Features of Credit Card

  • Cards from Vijaya bank are highly secured and chip enabled and offered to the account holders of the bank.
  • Cards are accepted by both national and international merchants and can be used for almost any type of payment.
  • Can be used outside of India as well.
  • Card user is protected through insurance for any fraudulent use.
  • Upon successful usage of card by the primary card holder, add-on card is also offered.

The above listed are just the few features. For more features and benefits of the card, you may visit their website: https://www.vijayabank.com/

Card Support

For more details on credit card, you many reach following:

Toll Free Number: 1800 425 5885 / 1800 425 9992 / 1800 425 4066
E-Mail: [email protected]

Canara Bank: Credit Card, Loan for Low Income (Rs 8,333) Earners

Amongst many banks owned by Indian government, Canara Bank is one of them. The bank has been in existence for over 100 years and was founded in the year 1906.

They have various financial products catered to the common people such as personal loan, vehicle loan, credit card, etc. However there is often a myth that financial products are targeted for high to medium ranged income earners. Of course, the primary target of any bank is such category of individuals only due to their high repayment capacity since the income is good.

But this does not mean that poor earners are not eligible for much needed financial products especially personal loan. In fact, these categories of individuals are in need of money more. And products such as credit card and personal loan are the only solution to their problem.

Canara bank has many retail products having a very low income eligibility criteria.

Listed in the table below are the credit cards and personal loan from Canara Bank along with their minimum income criteria.

Sr. NoCredit Card NameMinimum Annual Income Required (in Rs.)Equivalent Minimum Monthly Income (in Rs.)
1Canara Visa Classic1,00,0008,333
2Canara MasterCard Standard1,00,0008,333
3Canara Global Gold2,00,00016,667
Sr. NoName of Loan ProductPurposeMinimum Net Take Home Salary (Monthly) after installment
1BudgetPersonal or domestic need10,000
2Pension - General PublicMedical expenses and other genuine personal needsMust be a pension drawer from Canara Bank
3Teachers LoanPersonal or domestic need10,000
4Swarna Loan (Gold Loan)Medical expenses and any other contigencyDepends on the value and quality of the gold ornaments
5Canara CashInstant CashDepends on the value of the shares
6Consumer LoanPurchase of consumer durable items6,000
7Home ImprovementFurnish house/flat2,000
8Home ImprovementFurnish house/flatMinimum annual income of Rs. 50,000 (for self employed i.e. non-salaried)

There are many benefits of owning a credit card as follows:

  1. Helps in building credit history especially for the beginners. In fact, credit card and loan are the only options to build credit history. Debit card or a normal bank account will never help in building a credit history. Not having a credit history has its own negatives. Most importantly, a person with no credit score has higher chance of credit application rejection. This is because, lender has no way to evaluate credit worthiness of such applicants.
  2. A good credit score further helps in getting loan at a lower interest or increase credit limit in the future at no extra charge.
  3. Convenience offered by cards are many since it is accepted by most of the merchants today.
  4. Rewards and cash backs received help in saving money.
  5. They come with high level of security which is not possible in case of cash.
  6. Many cards come with insurance as well. Although there are insurance for low income earners in India, having additional insurance does no harm and that too with no premium to be paid.
  7. There is a 20 days (or more) grace period offered to make the repayment. So especially poor salaried or self-employed individuals have sufficient time to make repayment.

But remember that income (high or low) is just one of the factor (but the most important one) taken into consideration by the lenders. Even if your income meets the eligibility criteria, there is always a possibility of credit application rejection either because of poor or no credit score, insufficient or fake documentation such as salary slip or IT return, company where you work for, city you live in, and so on. It’s upto the bank to decide whether credit card or personal loan application should be approved or denied.

Despite of carrying highest interest rate (but less than a credit card) since it is mostly a unsecured loan, personal loan also has many benefits as follows:

  1. Is the second option to meet emergency money requirement after the credit card. Of course you can ask your friends/relatives for money at the time of need. But if all options fail, personal loan is the only solution left.
  2. Money is disbursed in a speedy manner.
  3. Can be used for almost any purpose such as medical expenses, house improvement, buying a vehicle and so on.
  4. As mentioned above, helps in building credit score.
  5. There is no mandatory requirement of collateral. Although you can also get a secured personal loan by pledging property, shares, gold, LIC policy, mutual fund and few others. This type of secured personal loan has low interest rate compared to traditional loan.
  6. Very minimal documents are required compared to other types of loan e.g. home loan.

Irrespective of the credit taken, make a habit of making complete payment before the due date. Never utilize your credit limit fully, and use it wisely and do not let lender know that you are credit hungry.

11 Worst Financial Mistakes You Can Make in 30’s

After a decade of trial and error and growth, most people learn to overcome the most common financial mistakes as they turn 30. But as they enter a new decade, they will be welcomed with new challenges.

Here is the compiled list of the worst financial mistakes that anyone can make before turning 30, a key time in anyone’s development and future, as it is often the time to buy a home, build relationships, start a family, and save for retirement.

1. Saving too much in wrong products

Investing is important, but people in their 30’s often overemphasize their pension funds and other retirement savings plans, and put savings aside for other large purchases.

But there are other important purchases on the horizon, especially if you’re having children or thinking about having a house, for which you’ll need savings.

Put money into a pension plan, but don’t forget to set aside money for other things, such as a house, a car, a good vacation or your children’s education. It is recommended setting up different savings accounts for specific purchases. Take a look at the options your bank offers and see if it allows you to create different savings accounts.

2. Prioritize your children’s education over your own retirement

While focusing too much on the pension plan is a common financial mistake, not saving enough money for retirement is also a common problem, especially when child’s education expenses come into effect.

Obviously, your children’s education is important, but the number one priority at 30 – even if you have a family – should be retirement. Think long-term. If you don’t set aside enough money for your own retirement, your children may have to help you in the future, which could end up being more expensive in the long run than student loans would be.

Make sure you save fast for a decent retirement before you start saving for college. Once you get that rhythm, you have enough extra funds and you can and should save for college.

3. Neglecting insurance

Insurance in general – health, life, home and disability – is often given lowest priority for two main reasons: “It’s not a fun thing to talk about, so it’s often delayed off longer than it should be. “People often don’t have good insurance advice. They are often advised to just get coverage – no matter what kind, just get some – but years later, when they get close to 50 or 60 and something happens, they find they don’t have the right coverage.

It is advisable to spend time studying insurance plans or talking to a trusted advisor.

4. Not buying long-term disability insurance

One type of insurance that is neglected more often than the rest is long-term disability coverage, but not having it can be extremely risky. Disability insurance is designed to provide income in the event of a disability that prevents you from working, which is more likely to happen than many people think. It is estimated, according to the Social Security Administration, that more than 25% of those who are now 20 years old will suffer some form of disability before retirement.

Many people will buy life insurance that covers in the event of death. But they don’t think about the possible disability – especially if it’s not covered by your company – and that’s a bigger risk. You’re not dead, but you can’t work and you can’t do anything to avoid bankruptcy.

5. Not talking about money before you get married

It’s no fun or simple conversation topic, but talking about your personal finances, spending habits and financial plan with your partner is crucial. Couples often have this conversation too late, if at all. When they finally sit down to discuss it, there is already a great deal of emotional involvement in the relationship, which causes many couples to play down important financial differences.

The conversation must take place and sooner the better. First, you need to understand your partner’s financial background, which will help you understand how he or she makes financial decisions. You can then decide whether to keep your finances separate, if you both work; or whether to combine them, and then you should agree on how to spend together.

6. Spending too much on a wedding

Too many people are spending an absurd amount of money on organizing a disproportionate wedding. Today, an average wedding in the United States costs a staggering $35,329 (30,000 euros).

It is recommended to plan a modest wedding, and use the remaining money as an advance on a house. Organizing a big wedding for less than $5,000 is possible if you are careful with your budget.

However, it’s a very personal decision: whether organizing a big wedding is important to you, all right. You just have to start saving soon.

7. Spending too much on the first child

When the first child is born, new parents tend to overspend on high-end cribs, bottles, clothes and baby accessories. The spending problems we usually see in 20-year-old’s are moderated until the children are born and then they explode.

You should raise your child in a comfortable environment, but think twice before spending thousands of dollars on a branded cart that leaves you without savings, when other unexpected expenses are likely to arrive.

8. Spending too much on cars

Another area in which experts see a serious financial error is overspending on cars. People get bored of cars fast. They always want a new car and have to pay for it. But car is a rapidly losing value asset. You don’t want to invest money in something that won’t be worth anything after a few years.

So it is recommended to keep the cars for at least 10 years. After you buy a new one, make sure you finish paying for it in five years, so you can spend that money on other savings for the next five years. After 10 years, if you go to the dealer again and if you have taken care of your old car, you can get a good price for it, which will help you pay for the next one.

Another option is to use leasing. You can decide if it is a good option for you or not. Also, consider giving up a new car and buying a second-hand one, which could save you an significant amount.

9. Taking a master’s degree for wrong reasons

A master’s degree is usually quite expensive, so make sure you go back to school for the right reasons, especially if you’re paying for it out of your own pocket.

It should certainly help you progress in your career. Let’s take an example of MBA. If you don’t know what your goal is after getting the MBA, you’re not doing the right thing, considering the fact that cost of MBA is very high. If getting the MBA helps you get a position that enhances your long-term career, then it’s the perfect solution.

It is also recommended that you earn while you learn. Do not stop working while you study, if possible.

10. Taking a job with short-term money in mind

When you’re in your mid-thirties, you’re preparing to enter your higher income years, and it’s important to prepare for this stage of your life.

At this point, you shouldn’t take jobs with short-term money in mind. You must choose a job that prepares you for much more money in the long run.

11. Optimistic of having more money in the future

While optimism is a good and must to have quality, too much optimism can be dangerous, especially when it comes to money.

People tend to assume that they will make a lot more money when they reach 40. This is one of the most serious and common mistakes in each person’s personal finances.

The basic rule should be to live below your means. If you can’t afford to buy a new car, then buy a second-hand car with guarantee. Saving first’ should be your motto: save for retirement first and spend with the remaining money. People tend to do just the opposite thinking, I have to buy this, this and this, and what’s left, I’ll save it. Pay for your future first, and make sure your present is secure.