Become Rich: If you want to become a millionaire, then definitely know these formulas of Mathematics, you will become rich easily
Rich
Become Rich: Every person wants to become rich but he does not know how to become it. He blames his luck and time for not getting rich. However, it is not correct. A lot depends on planning to become rich. If you invest in the right way along with earning, then nothing can stop you from becoming rich. Today we are telling you about many such mathematical formulas, using which you can easily save and become rich.
Identify spending and investment habits
Not all of us have the same financial habits. Everyone strategizes for their income, expenses and investments in their own way. On this basis, we are telling you about four formulas of mathematics. Which category you are in now, you can decide by looking at the formulas given below. Then we will tell you about what changes you have to make.
1. Income (Income–I) – Savings (Savings–S) = Expenses (Expenses–E) i.e. (I–S=E)
Under this formula, such people can be kept who already withdraw some part of their income for savings. After that he spends the remaining amount. They invest the withdrawn money either in a savings bank account or in a low-risk investment medium.
2. Income-Expenditure = Saving ((I–E = S)
In this formula fit those people who believe in the fact that first make income and then spend according to your needs. If anything is left, I will invest it. With such people, a very small amount is deposited in the name of savings.
3. Income + Debt = Expense ( I+L = E)
Today’s youth generation believes in this formula. Under this, young people spend their total income i.e. income and then do not shy away from taking loans for expenses.
If you want to become rich then you have to follow this formula
1. Income – Investment = Expenditure (II = E)
If you want to become rich, then you have to do financial planning according to the above formula. Under this formula, you are advised to get maximum income and invest as soon as possible. That is, with income, invest first. After that, spend whatever is left to meet your needs. Although most of the people are aware of this formula but they do not apply it. If you follow this formula then money will follow you, not you money. It will help you to become rich
Add these tips to your habit
Your habit plays a big role in accumulating money or becoming rich. You have to include in your habit: 1. Planning, 2. Budgeting, 3. Learning, 4. Earning, 5. Saving and 6. Investing. Always remember that becoming rich requires strict financial discipline. If you are not understanding on your own, then you can take help from a financial planner.
follow these things
- control expenses
- follow financial discipline
- Start writing off all expenses
- Minimize use of credit cards
- stop wasteful spending
- create more than one source of income
- invest wisely
- Include equity, real estate and small savings schemes in the portfolio
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