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Money is good, but you have to apply these 5 golden rules to get lots of it

There’s an old saying “Money, money, money—it’s all they can think about.” Unlikely to be true of course, given that hardly anybody thinks about money itself (unless they happen to be a coin collector). The reason we all pursue and desire and fiercely protect money is because of what we can do with it.

And no, of course money can’t buy you love or happiness. Although it can buy a good deal of pleasure—and remove a lot of unhappiness. But it can buy you plenty of other things.

Over the years I’ve identified 5 golden rules to get lots of money. I’ve studied a lot of wealthy people, and it’s clear to me that there are some fundamental common principles followed by almost all. The bulk of the Rules in this article fall into that category. Then there are also some principles which some rich people swear by, but not all. I’ve included some of those too for good measure, just in case you too are one of the people they do the trick for:

RULE 1- Anybody Can Be Wealthy—You Just Need to Apply Yourself

The lovely thing about money is that it really doesn’t discriminate. It doesn’t care what color or race you are, what class you are, what your parents did, or even who you think you are. Each and everyday starts with a clean slate so that no matter what you did yesterday, today begins anew, and you have the same rights and opportunities as everyone else to take as much as you want. The only thing that can hold you back is yourself and your own money myths.

RULE 2- Decide on Your Definition of Wealth

So, what, to you, is wealth? This is one you have to sit down and work out in advance if you are going to get wealthy. My observation is that wealthy people invariably have worked this one out. They know exactly what, to them, wealth means. 

RULE 3- Set your Objectives

By defining what you mean by wealth, you now have a destination. Setting your objectives is establishing a timetable to reach that destination. It’s quite simple. If you know you are going to drive to a certain place, it makes sense to know

1- What time you are leaving home

2- What time you expect to arrive

3- What route you are going to take

4- What you will be doing when you get there

Getting rich is exactly the same. You will want to know in advance what rich means to you, how you intend getting there, how long you expect it to take, and what you are going to be able to do or want to do with your money when you get it.

So, having defined what wealth means to you, can you now see the importance of setting your objective? Think about how you intend getting rich and how long it is going to take you, and then set your objective. It might be simple: “I am going to be a millionaire by my fortieth birthday, and I shall make my money by running my own telecommunications company.”

Your objective has to be realistic, honest, and achievable. By realistic I mean that setting an objective of being the richest person in the world might happen, but it isn’t going to, it isn’t realistic.

Honest means you have to be true to yourself and set an objective that you can live with and work with. Lying to yourself means it will fail. Lying to others means it will fail.

Achievable? Yes—that, too. If you know nothing about property and aren’t interested in learning, have no capital and can’t get a mortgage, then setting an objective to be a property developer isn’t realistic, honest, or achievable.

Happy with what you’ve got? Good. If not, try again and let’s get a move on; we want to get you up and running as soon as possible.

RULE 4- Keep It Under Your Hat

Now that you have embarked on a new journey, a new direction, it might be worth keeping it under your hat. There may come a time when you will need to discuss what you are doing with money people but for the moment don’t broadcast what you are doing. There are several reasons for this:

- Other people’s opinions can often be negative, and this can discourage you.

- If everyone is doing it, there may be less room for you.

- There’s no need to give away all your best ideas.

- Having other people discussing your business among themselves is never good for you.

- You don’t want to be seen as preaching or trying to convert people to your way of thinking.

- No one else really wants to know what you’re up to—if they ask how you are, reply with a simple “Fine” rather than a lengthy explanation of what you are doing.

- It’s nice having a secret—gives you a warm, smug, glowing feeling.

If you go round broadcasting what you’re doing, there will be people around you who will get jealous and will do pretty well anything to discourage you.

RULE 5- Most People Are Too Lazy to Be Wealthy

You have to get up early, work hard all day, and go to bed still working on your objective. Yes, money does sometimes grow on trees—or so it seems. Yes, people do win the lottery, the jackpot, the big prize. People do get sudden inheritances from long-lost relatives. Yes, people do suddenly find fame and for￾tune where they sought for none. But it isn’t going to happen to you. Well, the odds are that it won’t.

I think if you look at anyone rich enough to be a role model— Dangote, Adenuga, Otedola, Warren Buffett, Bill Gates—you’ll notice only one thing in common…they work their socks off. They might make their money from computers, sales, business, the telecommunications industry, whatever. But the one thing they all share is the ability to do more in a day than most of us do in a month.

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