My Wealth Desire

Wealth Building Strategies & Steps to Financial Success

May 14, 2015
by Wealth Desire
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3 Secret Formulas To Success

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Secret Formulas to Success & Wealth

Secret Formulas to Success & Wealth

Do you want to know the secret formulas to success? Why many people miss to grab the opportunities? They know that every opportunity can be the magic key to their success. However the choice to stay in the comfort zone rather than to make any action is from their end.

It is true that opportunities knock only once.

Definitely it is true also that the blueprint of success is not hard.  In fact, other people find it easy.  There are simple formulas why successful people achieve their goals quickly.

You may wonder that every year many people are becoming millionaires.  The list is keep increasing as we read from Forbes Magazine.

There are lots of successful stories that we read every day.  There are rags to riches stories.

What is the difference between the successful people and the failed people? Do you believe that there is a powerful formula of success?

Successful people who are hailed from poor family or from middle class know the answer for this.  It is the good habits that we adopt or practice in our everyday life.

I have a high school friend where his family survives through his fisherman father’s income.  Through practicing the powerful formula of success he earned his college degree with flying colors.

His family economic circumstances did not stop him to reach his goals.  After few years, I discovered he earned again a new degree in Doctor of Jurisprudence or Bachelor of Law.  From being a son of poor fisherman now he is successful in his political career.

Three Powerful Formulas to Success

Here are the simple formula of reaching your desire goals.

Self discipline

Self discipline is one of the prerequisite to success.  It is very vital in every endeavor to have a self control and to have focus on your goals.

It is necessary to develop this habit.

With self discipline you have the power to direct your mind to action.  You can absolutely control your thoughts, behaviors, emotions and decision making.

You have a personal will to control and limit yourself.  You can control yourself to any temptations and distractions.

I have a friend name Josie (not her real name).  She was my former classmate during college time.  She was an average student but now she is successful in her business ventures.  I believe that she has a strong self discipline that’s why she achieved her level of success.

If you want to become successful in your own term you must have a self discipline.  Discipline is a key to accomplish your works in order to achieve your goal at the earliest possible time.

Like your favorite actors and actresses, they have strong discipline to maintain the physical fitness.  They sacrifice anything that will affect their health, beauty and stamina.

Thus, if you are really determined to achieve something you should maintain an aggressively high level of self control.  With your self-discipline you will surely acquire the best end results.

Powerful Formulas to Success

Powerful Formulas to Success

Focus

Successful people usually have a laser type focus on their respective goal.  They mainly concentrate doing and achieving in one thing.

I found out when you have one goal, your energy and time is concentrated to one thing only.  You are less distracted and you can quickly achieve it.

You become efficient because you are applying 100% of your energy and time to achieve your one goal.

Unsuccessful people failed to achieve goals because they have a lot of goals and everyday they keep setting goals.

I observed that also in my own life, once I concentrate in one goal at a time the tendency is I achieve it easily and quickly.

If you are focused on increasing your wealth then you will build your wealth rapidly.  Our concentration helps us to boost the things to be done simply and quickly.

If we focus on meaningful action, surely we will succeed without wasting time.

Action

One of the biggest mistakes of most people is procrastination or delaying to act.  It is impossible to build fortune without applying action.

Most successful people set a long term goal.  They set goal for 5 years, 10 years to 20 years.

However the poor people tend to make or set goals every day.

Actually it is not enough to have a goal.  To get to the end results you have to apply action.  Stop thinking only about your goals.

Now is the right time to act, not tomorrow or next day.

The best tips in taking action are to start with a baby steps.  As you go in with your action, you can take bigger steps.

This is to avoid you to get easily burn out.  With a small step you are keeping motivated in pursuing your level of success.

The same scenario when you are buying home either for your family or for investment purposes, you start first a small house.

As soon as the family grows it means your family needs bigger space.  That is the right time you can buy bigger house.

One of the biggest mistakes in starting business is to start it big.

Successful entrepreneurs know that the best strategy to success in any business is to start small and make it big along the way.  When your customers grow you need to expand your enterprise.

This is simple Economics 101: expand your business once there is a huge demand.

Going back to action, people who make a long list of goals without action is nothing.  No use to spend time preparing a list if you keep delaying in rendering action.

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April 30, 2015
by Wealth Desire
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The Best Investment That Will Get You Rich Surely and Quickly

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Best Investment to Get Rich Quickly

Best Investment to Get Rich Quickly

Do you know the best investments that will get you rich surely? Wealth cannot be achieved by having a high income alone.  What is the use of having higher income if nothing left at the end of the month?

Focus on building wealth.  You can build wealth from nothing or using other people resources.

Wealth is referring to the time or period that you can survive without working for money or help from other people.  You can live once you have savings and investments that can surely give you a passive income.

If you are wealthy, it means you do not worry about your tomorrow’s expenses.  You can leave your job without bothering about your bills or how you can survive.

My personal advice to you is first invest in acquiring financial knowledge.  One of the great founding father of United States, Benjamin Franklin said, an investment in knowledge pays the best interest.

Those people that have ample knowledge of making money know the best investment to get rich quickly.  They create system or business that can provide cash flow.

However, it is not enough to have knowledge only.

Remember knowledge become power when you put it to action.  Successful people become wealthy because they are fearless to take action.

Many people are focused on many things.  They become distracted on material desire.

Poor people invest on the wrong things or investment.  They focus on spending on liabilities rather than assets.

For those who don’t know what liability is, I will define it simply.  A liability is all things that you put in that don’t have any returns.  All money that goes out from your pocket and you expect no profits.

What are the best investments that will certainly get you rich?

These simple investments will surely get you wealthy.  You will learn that it is not the money that will make your life more meaningful.

  1. Invest With Your Time

Most of the time people focus on meeting the financial obligation with his or her family.  Other single people are focused on buying stuffs for themselves.

They forgot to invest the time.  Time is so fast.  As soon as it passes it will not come back anymore.

You need to invest time because time is gold.  It is the most precious one that you put on the top of your list.

Why rich people are investing time?

Rich people are busy people.  They buy more time from other person that is why they hire employees.  They pay their employees through wages.

Other people stay poor or middle class because of selling their time.

Actually they are not only trading their time but also their energy, effort and even their soul.

  1. Invest With Your Health

If you are still young or grown up, you should focus on investing your own health.  Nowadays it is very easy to have access on junk foods.

Millionaires are investing their health.  They want to grow old to enjoy their wealth.

Avoid unhealthy diet.  Do a lot of exercise or walking.

The very first step to improve your health is from your kitchen.  Yes as simple as that.

Your health is your wealth.  If your health is deteriorating your wealth is also worsening.

  1. Invest With Your Family

Many working couples are focused on their career or advancement of their employment.  Most of the cases they miss to have a bonding moment with their kids.

Open communication with your kids or spouse is good for the family.  It will give you a sense of meaning of your life.  Make your family as your inspiration for your entire endeavor.

Investing relationship with your family will provide a wealthy and happy life.  Your family will help or support you in getting rich.

“Behind every successful man is a woman, behind her is his wife”Groucho Marx

You have only one life; you must take care and manage your time with your family.

You will realize that your kids are already grown up; still you are not around during dinner time.

  1. Invest in Assets

If you want to be wealthy, it is necessary to invest your hard earned money into assets.  Focus on assets that will give you returns.

Assets usually provide a consistent cash flow.

Poor become poorer because most of the time they are investing on liabilities.  They concentrate in collecting or spending of stuffs and unnecessary gadgets, new furniture, big car and big house.

While affluent people and family put majority of their money and energy in investing different types of assets.

It is the assets that make Bill Gates richer even he quit from Microsoft Inc.  His assets value keeps increasing dramatically every minutes and every day.

  1. Invest With Your Employees

If you have a business and you want to expand, you have to invest good quality employees.  You can afford only to level up your business if you have someone that you can trust and can work properly.

Affluent entrepreneurs like Carlos Slim, Bill Gates, Mark Zuckerberg, Warren Buffett and many more are recruiting staffs and managers that among the best in the job market.

Their managers not only think out of the box but also the lead and run rich people business smoothly and profitably.

The richest man now is Bill Gates and two years back was Carlos Slim Helu.  You will be amazed how Bill Gates became the richest man again after stepping down from Microsoft Inc. and focusing his energy with his philanthropist works.

He hired a good manager that can manage his assets, investment and various companies.  Even if he is sleeping or while on vacation he is still earning.  Money is keep coming to his bank account.

Bottom Line

My tips are to focus on the things that will give you 80% chances of getting rich.  You need only to act and exert 20% of your time, energy and money to get an 80% result.

If working with someone will get you rich then focus on climbing the corporate ladder.  However, I have a doubt, your chances is slim.

Photo Credit : Lifehacker.com

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April 23, 2015
by Wealth Desire
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The Proven Ways to Wealth and Perhaps the Quickest Ways to Get Rich

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Most of the top 2015 billionaires and top 400 revealed in the Forbes Magazine have in common.  These success people build their fortune through the proven ways to wealth.  Majority of the self made billionaires are not working with someone. 

In fact they build wealth through their initiatives and effort.

 

You can check their background and you will discover astonishingly that nobody from these affluent are working with other people company.

 

On the other hand, poor people are hungry to get a high paying jobs but still financially struggling.  Poor people are selling their time to wealthy individuals.

 

It is clear that being an employee, it will limit your chances to get rich.  There are only few who works climb the corporate ladder and become CEO.

What are the Proven Ways on How to Get Rich

  1. Join for start up in a promising company.

 

Your main objective of getting a job is to join a new company that has a great opportunity to grow or to become a global brand.  Once you join in a start up company as an employee you have an easy access to acquire the stock.

 

Stock for start up company is not expensive or hard to get.  Many unknown personalities get wealthy through this avenue.

 

Actually, this is one of the quickest ways to wealth.

  1. Build your own business.

 

The proven path to get rich is to have your own business.  Minding your own business will definitely build your wealth.

 

If you are an employee, your chance of getting rich is very slim.  Carlos Slim become one of the world’s richest billionaires through building his various business conglomerate.

 

As I researched and study on the latest top richest people in the world, they have one thing in common. They have their own business and not only one but many.

 

Indeed, running your own business is the best ways to get rich.

 

Remember that the more business you have the more stream of income you are earning.

 

Bill Gates, the present world’s richest man is one of the greatest entrepreneurs of our time.  He co founded the Microsoft Inc. and run it into multinational company.  If he did not drop from Harvard University and build his own company, he might be financially struggling now.

  1. Acquiring and Developing real Property.

 

Some people get rich from real estate development or venturing into real properties. Donald Trump, one of the American billionaire who builds his fortune through developing properties.

 

For me, investing and developing real estate property is one of the fastest route to wealth.

  1. Investing in companies stock and bonds.

 

This is one of the proven roads to wealth. Investing in stocks is not an option to get rich fast.

 

Jumping into stocks and bonds or mutual funds means you are investing in time.  The longer period you can invest the higher chances your money grows.

 

Warren Buffett made fortunes from investing quality and promising companies’ stock.

Conclusion

 

In the present generation, the proven path way to become wealthy is to set up and run your own business.  You can also become intelligent investor like Warren Buffett.

 

Being an entrepreneur, the income is keep increasing exponentially for the period of time.  Not like as an employee your income is stagnant and most of the time no increment.

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April 9, 2015
by Wealth Desire
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Do Not Spend Money for Your Child Birthday But Invest It for Your Kid’s Future

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Best Expenses for Child Birthday

Best Expenses for Child Birthday

A big mistake in celebrating your child birthday is to spend huge amount of money for the party. When your child is still young, he will not appreciate the celebration. Most of the cases, the reason of celebrating luxuriously is to impress our friends and family that we can afford it.

For me the best way to celebrate birthday with your kids is to express gratitude to God for another year of your child’s life.

I firmly agree of what Oprah Winfrey said, “The more you praise and celebrate your life, the more there is in life to celebrate.”

In fact, every time you thank God or to the Universe, the more blessings, more life and good health that you will have.

Just recently, I noticed that most of our family friends are celebrating their kids’ birthday in a hotel or expensive restaurants.

Then after the celebration they realize that what they spend for the party is not worth it.

Instead of spending money for birthday celebration, you can put that money into investment or for your kid’s education.

Smart Ways to Use Your Money For your Kid’s Future

Smart parents are those who plan and consider the financial future of his or her child.

Best gift for kid's birthday

Best gift for kid’s birthday

Actually, spending money for investment or education funds is the best gift you can give to your child.

Remember that what you do today will affect the future of your child.

1. Invest in stock or mutual funds

Keep your money work for you through investing in stocks or mutual funds. My best tip is start with a little and let it grow.

Again research and educate yourself in this kind of investment before jumping in.

Let say you want to spend $2,500 for birthday party and instead you will invest it.

Assuming 10% interest gain annually and after 10 years it becomes $6,484. If you let it grow for 15 or 20 years, the future amount is $10,443 and $18,618 respectively.

That is the magic of compounding interest.

2. Start saving for college funds

Another smart way to use your money rather than spending it for birthday party is to start saving for college funds.

Education is one of the best legacies that you can give to your kids.

This is to ensure that finances are not a burden when you’ll send your children to college.

Earning a college degree boost your child chances of getting high paying jobs. With a higher education, it gives advantage or edge for better opportunity and promotion.

By doing this, you are helping your child/children to avoid student loan or debt as well. Student loan is bad and stressful as soon as your kids start paying it.

3. Buy gold coin or silver bullion

Buying gold coin is very easy. You can start buying gold once a year. As of this writing the price of American Gold Eagle one ounce coin is $1,245.76.

You can buy two coins for less than $2,500 budget.

It is an excellent option to invest on actual gold. In time of crisis gold can easily be converted into cash.

Gold is acceptable in most countries of the world as money.

The average price of gold per ounce on year 2005 is $444.74 and the average rate for 2015 (March 23, 2015) is $1,221.12.

Historical data shows that gold price is keep increasing significantly.

If you can hold your gold coin for ten years probably you will earn $700 per ounce.

Bottom line

Celebrating birthday party is costly and tiring. It will give memory and happiness for your kids.

However, if you spend the same cost of birthday party into savings or investment, it certainly will help the financial future of your kids.

The best thing parents can do for his child is to plan and prepare his/her future wealth.

Lastly, I will share this proverb from Confucius; “A man who does not plan long ahead will find trouble at his door.”

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March 26, 2015
by Wealth Desire
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Simple Ways to Increase Wealth Significantly

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Ways to Increase Wealth

Ways to Increase Wealth

Learning the simple ways to increase wealth is the best step that you can do to improve your finances.  It is very true that knowledge is a very useful tool in making money or in growing your wealth.  Successful people became wealthy or became self-made millionaire because of valuable knowledge.

Bill Gates, Warren Buffet, Carlos Slim and many others became rich because of their wisdom and knowledge about saving, investing, acquisition and money management.

The real methods of increasing wealth are not complicated. 

In fact, you can grow your wealth without too much hard work.

If you’re looking for a solution to grow your fortune, getting a second or third job is not always the best answer.  It does not make sense to have many jobs then at the end of every month nothing left behind to save or to invest.

Most people reached their financial success because of wisdom. It became their weapon how to make their money make more money.  They have solid information on how money works for them.

I firmly believed that if a person has knowledge about wealth creation can certainly build wealth from nothing.

Keep reading below to learn the fantastic ideas that certainly increase your money and fortune.

Excellent Methods to Increase Your Wealth

“Wealth can only be accumulated by the earnings of industry and the savings of frugality.” – John Tyler

  1. Spending Less

It is a smart decision to manage properly every penny you have.  As soon as you start receiving your pay check always consider how you will spend it.  Spending less is the ultimate key to increase your wealth.

 

Warren Buffett and other rich people are very frugal.  They focus on spending things that has big potential returns.

It is their burning desire that compel them to adopt frugal living.  They know by spending less they can save more money to invest or to buy assets.

Your assets and investments are the excellent financial tools to grow your fortune.

Simple Methods to Increase Wealth

Simple Methods to Increase Wealth

  1. Take advantage of the free money

Getting free money is the excellent method to grow your wealth.  One of the common or popular free money that we can earn is the 401(K) or social security contribution in other countries

In every contribution in your 401(k) plan your employer or company match with certain amount or percentage.  Your company’s contribution toward your retirement plan or social security funds is the absolutely free money.

Another benefits of retirement plan like 401 (k) is tax deferred.  Meaning your tax is calculated after deducting the amount you contributed to your 401 (k).

Another example of free money is credit card’s rewards, voucher or coupon.  I purchase gold jewellery for my wife out from my credit card rewards.  I can turn gold into cash easily.

  1. Increase your Income

Sometimes to increase your pay is impossible but achievable. As an employee the simplest way to increase wealth is to increase your pay.

It is astonishing truth if you have high income job you can invest bigger amount. My best advice is keeping your cost of living low so that you have more money to save and invest.

It is possible also to increase your fortune with a low income.  However, it is faster to build wealth if you have a higher income with low expenses.

Remember that a higher income is definitely helpful in growing your wealth.

  1. Reduce your taxes

Another brilliant step to raise your wealth is to learn the tax loophole that you can reduce your tax legally.

Any money you save from paying low taxes you can use it to make more money.  One of the excellent ideas is to invest it.

It is fantastic tips that any extra money can increase your wealth.

You can ask your accountant or lawyer to help you how to take the advantage of tax law.

What are the best ways to reduce your taxes?

Having an ample knowledge about taxes can ease your path way to get rich.

Conclusion

Acquiring knowledge to increase your wealth quickly can increase your chances to be financially successful person.  Knowledge is not power.  It became powerful when we applied it.

The same principle also applies when it comes to your finances.  You will absolutely boost your wealth if you will apply the simple ways to increase wealth.

Photo Credit: 1 and 2

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March 5, 2015
by Wealth Desire
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Biggest Lessons I Learned Working From Someone

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Biggest Lessons Learned while working

Biggest Lessons Learned while working

One of biggest lessons I learned working with other people company is to get out from being an employee.  In fact, we are trained and educated from school to get a job after college.  It is the trend since the start of industrial age that most people earn for a living by working in a company.

Rich and affluent families are the major holder and owner of the biggest companies in the world we are working with.

It is inculcated in our minds that to earn money and to survive in this world, everyone should work to the affluent people companies.  The working people are programmed to do the task according to the instruction of their bosses.

Actually, there is nothing wrong earning income through working in a decent job. The most important is how we manage the income.  How to grow the hard earned money? 

Start learning how to let money work for you.  By educating yourself in financial education, you are preparing yourself to get out from the rat race.

I am working in the Middle East for more than a decade and there is ups and downs.  I invest most of our family income in real estate in Asia.  We paid off our house and we purchase also 2 bed room condo unit.

Speaking up downs, I learned a lot 3 big lessons working in a company.  These lessons taught me how to invest myself and my hard earned money.

I learned a lot about financial education and I applied it in my personal life.

Important Lessons I Learned from Working

 

Hard to Achieve Financial Security

Yes, achieving financial security by working with your job is possible but is very hard and it will take too much time.

I observed that if my family income is tied with our salaries, reaching financial freedom is just only a dream.

You can receive consistent and on time salary if you are working on big companies that are financially stable.

But my company is run by a micromanagement style and does not prioritize the compensation of their workers or staffs.

Most of the government bodies in Middle East are not very strict when it comes to labor rights and labor law.

Another factor that could be considered as a big burden in reaching financial security if you are working in Middle East is the unstoppable rising of cost of living.

Cost of living keeps rising but my salary pay is not.

If you get an increase it is not equal or the same percentage of the increase of cost of living expenses.

Related topic: Achieving Financial Success – 5 Steps to Achieve It Easy

Important Lessons Working with your Job

Important Lessons Working with your Job

Income is Unstable

One of the bad things working with someone is your income is not stable and irregular.

I am working in one of the vibrant cities in the Middle East and I am receiving my salary very late.  Yes not only too late but also too much delayed.  My salary is delayed for about 4 months now.

To manage and control our finances is not easy due to this circumstance.

The moment you started working with someone, you cannot control the flow of your income.  You don’t have any idea if you will get your benefits or pay on the promised date.

Related topic: Building Wealth from Scratch Success Stories of Top Billionaires

No Personal Freedom

Working with someone’s company, definitely lose our own freedom.  Most of the companies in the world or even in first class countries; the flexible timing is not acceptable.

In my case, Friday is only my off and it is very hard for me to get a day off on Saturday and Sunday.

It is difficult to get out from my bed while my wife is off and still sleeping.  I have no choice but to force myself to get off from bed to work.

If I want to take leave it is like I have to beg from my boss to allow me.  Sometimes, I want to take off in order to celebrate my kid’s birthday but my boss would suspect me that I am going for a job interview.

Working as an ordinary employee, our action and decision making is limited.  We cannot make huge financial decision because most of the time you are afraid to lose your job.

Related topic: Amazing Reasons to Start your Own Business

Most Employees Focus on Shopping rather than building fortune.

Most Employees Focus on Shopping rather than building fortune.

Bottom Line

Working is fulfilling because it is a realization of your dream to become a professional.  For me, I like my job because it is involved in building construction.  I feel fulfilled to see any structures that is completed knowing that I was involved in the team doing it.

However, the pain comes when you are not compensated.  When they are not giving their employees their benefits and wages on time.

Photo Credit 1, 2 & 3

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February 26, 2015
by Wealth Desire
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Do You Have These Eight Best Personal Finance Mobile Applications (Apps)?

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Best apps for personal finances

Best apps for personal finances

You want to get rich, don’t you? Managing your wealth or money nowadays is easy and handy.  With the help of best personal finance mobile applications, you can surely get rich.  Definitely you can control your finances and get motivated to invest with the advance apps from your iphone, android or any smart phone.

In fact, using phone is popular for more than 100 years.  However, in recent years there are many trends of using phone that help improved our financial life.

Personal finance mobile applications are power tool.  Just a click away you can track down your expenses and investment.

If you are a busy person, there is no excuse that you cannot save and invest your money. The internet, smart phone and the cool financial applications are the smart solution to control your finances.

8 Best Apps for Personal Finance

I am pretty sure that these 8 best apps for personal finances can increase your chances to get rich.

 

  1. Billguard

Billguard is one of the free and top rate personal finance apps that can easily tracks your own spending habits and can help you save money because of budgeting platform.  It used to scan credit cards and debit card to protect your card from scam.  It has features that can protect identity theft or fraud.

Using this best mobile application can help you manage your money easily.  You can see what you are spending and what the charges from your cards are.

  1. Mint

Mint is another best iphone and android apps for personal financial that collects all your financial information into one platform or account.  Using this application can track your investments, expenses, bank account, credit cards, debit cards loan transactions and many more.

I like this application because it can remind us of our bill due date and we can create our own budget as well.  You can also monitor and see your credit rating using your smart phone.

This mobile application is only available in USA and Canada only.

Best Personal Finance iPhone Apps

Best Personal Finance iPhone Apps

  1. Checkbook

Checkbook is very simple personal finance iphone application because it does not requires you to sign in for account and to link to your bank account.  It is a very convenient way to reconcile your checkbook with your other bank accounts.

With this application you can avoid over drafting with your account.  In addition to, you can also view your monthly statement of different accounts.

  1. PayPal

PayPal is one of the greatest and safest money internet applications.  You can use this to transfer money and payment online.

Recently, PayPal launch digital wallet that can be used to pay most of your online transactions smarter and simpler.  This top rated financial application can be acceptable in most of the countries around the globe.

  1. Wally+

Wally+ is a smart mobile application where you can monitor and control your money.  Using this application you can bring your financial life into handy mobile.  You can manage your account into one place wherever you are as long as there is Wifi connection.

This is commonly use in Middle East and U.A.E.  You can balance your income and check your expenses easily and remotely.

Top rated personal finance apps

Top rated personal finance apps

  1. SigFig

SigFig is a great mobile apps to track all investment portfolios in one place.  You can also invest with low ETF portfolio using SigFig.

In fact you can view the real time performance of your stocks, ETF and mutual funds from your smart phone or iPad.  This is designed to manage and improve the growth of your investments.

  1. SavePlus

SavePlus is the solution to save for the busy people.   You can save money while on the go without time constraint either for retirement or for emergency funds.

Every time you spent, certain percentage of amount will automatically transfer to your savings account.  This is simply following the basic simple rule of improving financial being, paying yourself first.  It is like you are paying tax against the amount you spend.  This tax goes directly to your personal savings account.

  1. LearnVest

Learnvest boasts various features from tracking down your expenses to monitoring your financial goals.  In fact, with your handy iphone or android mobile you can view your available money and progress of your goal.

You can connect all your accounts using this top finance mobile application.  Then you can easily manage your income and expenses and at the same time you can budget your money with this application.

LearnVest gives convenience and simplicity to the end user.  I love their additional feature, providing various financial education articles and tips.

            RELATED TOPIC:

                        Proven Ways on How to Get Richer

                        Top Ten Best Personal Finance Books to Become Financially Successful

                        How to Make Money on the Internet and Get Rich Quick

                        7 Best Wealth Strategies to Get Rich and to Get Out of Rat Race

                        Key To Wealth Building – Secret to Get You Rich Fast

Bottom line

Improving our financial being through good financial management mobile applications can be achieved easily.  Technology and internet are important to connect you and your portfolio or your money.

You can choose the best suitable mobile application that will fits your need.  It is not necessary to have it all.  The most important is you have at least one or two personal finance mobile application to track your finances.

Photo Credit:  1, 2,

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February 12, 2015
by Wealth Desire
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Lessons from Young Self Made Billionaires That You Need To Learn To Get Rich

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Famous Young Self Made Billionaire

Famous Young Self Made Billionaire

Learning lessons from young self-made billionaires is one of the best things we could invest to our life.  By discovering their secrets or how young billionaires build a successful business empire is very inspiring.  It motivates to all people from different walks of life to be creative, optimistic, and to be an achiever.

The level of financial success and achievement of young money billionaires and how they made it is astonishing.  In fact, every accomplishment, inventions and ventures of these young achievers have great impact in human life.

I researched and gathered information about billionaires’ habits and self-made billionaires stories that we could learn lessons.  Building multi-billion businesses and accumulating billion of net worth are not easy.

Life Changing Lessons from Young Billionaires

There are 7 lessons that we need to learn from the self made billionaires and could help us to get rich.

 

  1. Inspire with your dream and target it

Young self-made billionaires are motivated with their dreams and goals in life.  They build their wealth from nothing because of their dream.

The famous young billionaire of our generation is Mark Zuckerberg, started Facebook from his big dream.  He became inspired with his vision and eagerness to share it with other people.

It is true that the first ingredient to succeed is a great dream.  Dream creates a program in your mind and it became part of your subconscious mind that stimulates you to target your goal

.

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  1. Solve the common problems

The new rich people are those young men and women who can solve the common problems.  They get rich because of their products or services that solve the human problems or help to improve the life of most people.

Forgetting to bring USB or external drive is one of the common problems among people.  Then Dropbox was invented to have cloud based storage and back files services.  Dropbox was founded by Drew Houston, one of the young self-made billionaire.  This is the product of new technology to provide a worry free storing and sharing files.  No need to worry if your hard drive will crash or your house will get burned.

In short, young billionaires invented new products or services that can solve the problem of most people.  Then their products became in demand in the global market and brought huge income and great returns for them. They get rich by inventing and creating new technology that improve the life of human being.

Lessons from Young Billionaire

Lessons from Young Billionaire

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  1. Now is the right time

Successful young billionaires are not fond of procrastination.  As soon as they realize that there is opportunity, they grab it.  The perfect time for them is now and not tomorrow or next day.

One of the young billionaires is Mark Zuckerberg wherein he did not wait to finish his degree to start student directory and then Facebook.  He dropped out from Harvard University to make his dream a reality, to make a successful student directory from “Photo Address Book” into “Facebook”.

Some of these young successful people launch their business while still working.  They didn’t wait to quit from their job before starting it yet they do a lot of stuffs during their spare time.

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  1. Doing what you love to do

This young generation self made billionaire reap billion of dollars that was started out from doing what they love.

Robert Pera was working before in Apple Inc., as a hardware engineer, however after 2 years he quit his promising career to do what he loves to do.  He is obsessed to succeed on his own rather than working with someone.

In 2005, he founded the Ubiquiti Networks Inc. to provide cheap internet access.

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  1. Taking risk

Fear is the one that hold us to succeed.  We are afraid to take risk.  Because of fear, we did not make the first step to venture into business.

Not like this young risk taker billionaires, they don’t mind the danger of every action, decision or ventures they are taking.

They know that the riskier their investments are the greater wealth they can accumulate.  Even though they failed on their first attempt, they still stand up and pick up the pieces.

Eduardo Saverin, one of the co-founder of Facebook takes a risk to renounce his US citizenship to protect his wealth and to reduce capital gain taxes from US government.  He takes the risk in order not to lose money from the high rate of taxes in United States.

Young Self Made Billionaire

Young Self Made Billionaire

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  1. Stay focus

One trait of young billionaires that I respect is being focused on one goal at a time.   Young self-made wealthy people reach the superb level of success because they concentrate their mind and energy on one goal.

Being focused on one thing resulted to a huge rate of success.  Concentration can help to boost the things done easily and quickly.  That is why they accumulated huge fortune at young age because of these habits.

In fact, avoiding distraction on every business endeavour can bring it into the right direction.

billionaires become successful not because of chance or luck but because of their desire to get the things done while they are still young.  They focus on meaningful action without wasting time.  They control their own life because of staying focused.

Below is a clip from Saverin’s interview and his comments about Mark Zuckerberg.

Mark Zuckerberg Focus

Mark Zuckerberg Focus

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  1. Start small and make it big

What I learned from them, they start their venture small but they grow it big.  They aggressively acquire capital from different angel investors to expand their business.

Drew Houston, co-founder of Dropbox is one of the prominent young self-made billionaires.  He and Arash Ferdowsi founded the Dropbox Inc. on June 2007.  They started their business small as an online storage and back up service.  On September 2007 they moved their business to San Francisco and they got more capital from Y Combinator, Accel Partners, Sequoia Capital and other investors.

Now Dropbox Inc. is a multi-billion company that caters any organization or individual for back up, LAN networks, sharing files and many other IT services.

The same with Jan Koum.  Though he has big business ideas but started first his company in small scale.  He incorporated WatsApp on February 2009 in California as a messenger application.  At first it is free and to keep growing his business into profitable one, his team decided to make it a paid service.  Like other business, to grow into a global arena they sell it to Facebook.  The acquisition is worth of $4 billion cash and $12 billion Facebook shares and $3 billion shares for Jan Koum and Brian Acton.

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Bottom line

If we have big ideas and we know there is a potential to have impact in the global arena then you can go for the next level.  It is not enough to dream and to write a goal without action.  Action is the key ingredient that these young adult bring their life into billionaires club.

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