How to create wealth: 10 tips to get you started!

There are few quick fixes in life.

For the most part, making changes in your life takes time. The good news is that when you work on something day in and day out, you will eventually achieve huge positive changes in your life. If you don’t stick with a solid plan through the bumps, however, your results will often be disappointing. Identifying and developing God’s purpose for your life is also a gradual process. Most of us don’t wake up one morning with perfect clarity about who we are, and what we should be doing. But as you make a daily conscious effort to find your calling, you will see an impressive difference in your life over time.

I wish I could say that creating wealth is easy. It often takes many new habits to change direction. It will take hard work, dedication, and most of all, your commitment. Your determination will be your ultimate key to success. Make your goals personal and stick to them!

Form better habits!

You have the power to achieve faith-based wealth. It begins with your will. You can continue to sleepwalk through life and just go through the motions, or you can wake up and begin anew. Take the road less trav­eled and discover that your financial life can take on new meaning. How do you start now? Do not let another day pass you by. Commit to fol­lowing the ten principles below for the next month. Once you have been following them for a month, this new routine will quickly become habit. Once you have formed new habits, financial progress can begin.

Ten Habits to Create Wealth

1. Make it your daily mission to find your true financial purpose. Your priorities may shift over time and you may find new purposes. Always fully understand why you are saving, what you are saving for, and what the end results mean. Have this purpose engrained into your mind and do not lose focus. Always look to ignite the flame.

2. Make new choices daily. Remember that each dollar that comes into your hands is won or lost by the choices you make each day. Choose to be wealthy instead of letting endless dollars slip away.

3. Associate with positive, like-minded individuals. If you have negative influences and negative people in your life, try to minimize your exposure to those people and things. Attitudes are contagious. Be­ing around someone who is negative will bring you down. In order to make new changes, you need a new positive attitude. Find other posi­tive people to encourage and motivate you.

4. Educate yourself daily. Try to learn more about your finances, how investing and financial markets operate, and how to gain advan­tages in your financial situation. Make it a habit to learn more each day. Even if it is only spending ten minutes a day learning one new concept, begin your quest to learn more. Get good at one concept and then move on to new areas.

5. Practice self-control. Do not let impulses and emotions drive your decisions. Make it a new habit to evaluate major purchases and financial decisions with a more disciplined approach. Analyze how each decision will add or subtract from your wealth. No more guessing. De­velop a new process.

6. Hire a team of advisors. I cannot stress enough the value of a good tax planner, legal mind, and financial advisor. There is much power found in good advice. Find individuals who succeed at what they do and pay them well. The money you pay for their expertise should save you a hunk of money in mistakes avoided and add to your wealth through their value-added benefits.

7. Develop the habit of analyzing your expected return on each investment you make. Often the profit potential does not come from the sale of an investment, but rather in the purchase. If you pay too much for something, it will eat away at the profit or tie up your dollars for a longer time period.

8. Don’t try to look wealthy, look to become wealthy. Remem­ber to buy assets and not liabilities. Remember, assets are items that pay income to you. Liabilities, on the other hand, require that you make payments. Minimize payments that are required by you and find ways to get more payments coming to you.

9. Give generously to others. Share your time, money, and assets. Seek to find those with less knowledge, those who are less fortunate, and those who need a helping hand. Educate, liberate, and provide hope to the hopeless. Make it a goal to have a better financial situation so you can help others rise above their current situations.

10. Most important: Always stay true to your principles. Always make sure that principles come before profits. Make it a habit to un­derstand what you own, where your investment dollars are going, what values your money represents, and develop a plan to align your morals, beliefs, and values with your financial plan.

What wealth building tips do you have to share?

Ready to Quit Living Paycheck-to-Paycheck?

Just click to join 225,000+ others and take our FREE email course to better manage your money, pay off debt, and save! And get FREE access to our money-saving workshop ($29 value)!

Related Articles:

  1. Camille

    What wealth building tips do you have to share?
    Thank you for great article. My tip: Despise not the day of small beginnings! Be wise and have this attitude so that you will not become bitter as you patiently work to become wealthy. To keep this positive attitude: 1)Be grateful throughout the entire process and 2) Do not compare yourself or your assets to others…very unwise. Don’t even toy with offense if others who have more try to insult or mock you. Your start may be small but you will not stay small. Thank God that He is wisely making sure every base is covered as you GROW in wealth and increase so that you will be able to KEEP the wealth that you get!

  2. Cheryl

    This article has great advice! I’m reading a book right now called Roadmap to Success: Building Your Business God’s Way by Steve Marr (I think the book was recomended by an article here on CPF).
    Your advice regarding conferring with advisors is also highly suggested by the author-to have a team of counselors who you run things by. This Christian support group will be honest–with love and kindness- with their advice on your plans. A great help when making decisions and trying to discern if it is your plan or God’s plan that you are following!

  3. Terry

    My true financial purpose seems to be to create wealth for my employer and landlord, and thereby create revenue for government (my employer is in the top marginal tax bracket).

  4. Somina

    Good savings culture, and streams of investments will make all d difrence.

  5. Tim

    Great honest to goodness tips that will help you keep your financial head above water. Of your list, I would say that hiring a team of advisers is the biggest one that will help out any family with money matters.

  6. Rose Dube-Goto

    Thank you for enlighting me. I am a women who lost everything in a civil war. I didn’t know where to start and build my linen empire . You have inspired and empowered me to create my wealth. There is life at the end of the tunnel. Thank you, Rose

  7. Angelica

    It’s great that yoou are getting ideas from this post as well as from our dialogue made here.