We have all heard the expression more than once that “The rich get richer, and the poor only get poorer.”
However, we rarely think about the reason for this trend.
Therefore, in today’s article I propose that we together understand the non-obvious “laws of money” that cause such disharmony.
The thing is that the vast majority of wealthy people were able to get rich not just like that (that is, out of nowhere, by the wave of a magic wand, or by receiving a large inheritance), but by following certain rules — which provided them with sustainable financial well-being.
So, meet the Four Unobvious Laws of Money:
1) We (and our wealth) are a byproduct of our habits
It is our habits that determine the difference between a “loser” and a “successful person.”
The process of “accumulation” of the positive consequences of our habits occurs over years. In other words, the visible results of everything you do today will be visible in 1 year, or 5 years, or even 10 years.
This means that how full your wallet is is a result of what you did 1 year ago (or 5-10 years ago).
2) Focus on what really matters
A very small number of things are critical to achieving the goals we set for ourselves.
Therefore, in fact, we only have to master a few of the most important financial habits.
Saving and investing account for 80% of the steps leading to wealth and sustainable monetary well-being.
To put it simply: all you have to do to become rich is save (i.e., don’t waste your salary) and regularly invest some of the money you receive.
Everything else is about optimizing your personal/family finances (which is useful, but not strictly necessary).
3) Delegate what’s not important
Which will allow you to focus entirely on what is important to you and your family, and do only what you are really good at.
Unfortunately, the number of hours in a day is limited to 24 hours. Therefore, it makes sense to devote maximum of our time and energy to what brings us the greatest benefit.
4) Focus on the long term
People greatly overestimate what they can accomplish in 1 month, six months, or 1 year.
And they also greatly underestimate what they can do in 5-10 years.
Achieving financial wealth will take a lot of time but relatively little effort.
So “the game is worth the candle”!