Narmeen Shahid

“The way to wealth is as plain as the way to the market—it depends on two words, industry and frugality, that is, waste neither time nor money but make the best of both. Without industry and frugality nothing will do; with them everything” (Franklin 1758). Affluent people, he says, have a lot of money. But, on the other hand, wealthy people have the security that comes with knowing how to manage however much money they do have so that they'll still have money tomorrow. Hence, seven secret wealth gaining attributes can be ascertained to discuss how to increase the wealth position. First attribute is to stop procrastinating (Inc 15 march 2016). Out of the 500 millionaires, Hill in his book in 1937, “Think and Grow Rich,” concluded that in the early 20th century, “Every one of them had the habit of reaching decisions promptly”. Secondly, one should know that there is no magic to be rich so on the 2013 Forbes Billionaires List, the major segment of billionaires made their wealth through savings. Whether they’re in stocks or something like real estate, not only do investments give you an opportunity to make a large amount of money, but they also help you produce passive income i.e. the amount of money that comes in without you doing any direct work. Thus, there are so many hours in the day that you can vigorously earn money, so it makes sense to put your money to work for you. Hence, the third cause to wealth is to invest in yourself. Investing in yourself means that a person undertakes numerous amounts of training, skill learning and courses in order to build self-value (Is the key to getting rich work, risk or luck? Robert Frank, June15, 2013). Therefore, fourthly, one should create a budget in order to become wealthy. Budgets play a serious role in helping consumers pay off debt, build their nest egg and make the most of their hard-earned dollars. Yet, despite their best intentions, many Americans lack the money-management skills essential to get their bank accounts under control (Secrets to creating a Budget by Shelly K. Schwartz 2017). Also, fifthly, pay down your debt as getting rid of debt is required in order to be rich as each debt that goes is like getting a rise at work as money that was being exhausted into debt settlement would turn into disposable cash that you can spend elsewhere. In short, not only would you stop losing money, but you’d actually be gaining money Finance Self Improvement (How to Get Rich: The Fastest Way to Get out of Debt, Joel Lee, March 2015). Hence, sixthly, taking risks is also a way to success as people who take risks know that failure is just part of the process in discovering what will truly work to build more wealth (2017 Forbes) and lastly, Diversification is very essential as no matter how big your income is, never depend on one flow. To create wealth, you must make investments that will create dependable streams of income flows, independent of your main source of income (Brian O'Connell 2014). In conclusion, it is important to incorporate these seven secret steps to gain wealth in one’s life to achieve objectives effectively and efficiently.