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6 signs that you will become very wealthy

By Chinkee Tan

As the new year comes in, many of us are going to set our goals and plans for the year to come. I’m sure one of your plans is to earn more and become wealthy.

1. You Have Multiple Sources of Income
You don’t only rely on one source of income. Having one source of income is not as stable as you think. The moment you lose your job, your sales slows down. What will happen next? You will be forced to borrow money and end up in debt. That’s the reason why wealthy people have multiples sources of income. Just in case their income slows down, they have other sources to get it from.

2. You Have a Monthly Spending Budget
The reality is this – spending is unavoidable. We will always have to spend money. So spending money is not bad. It only becomes bad and unhealthy when you start to spend beyond your spending budget. We just need to become a RESPONSIBLE SPENDER. That is what the wealthy does. They do not spend the money they don’t have.

A monthly spending budget is what helps you keep track of your finances, prevents you from overspending, and ultimately, helps you to live within your means. This way, you can save and grow your money, rather than spend and deplete it.

3. You Know The Difference Between Needs and Wants
Actually, if we think of needs, we just need very few things: food and water, clothing, and a house. These are our basic needs. Anything beyond these – a mansion, expensive brands of clothes, meals at fancy restaurants every weekend, a new car every year, the latest iPhone X, and others – these are just wants.

Knowing the difference between needs and wants is important because it helps you focus your spending only on what is important. That is what the wealthy people know. If you spend only on the important things, you can be sure that you will not overspend. You can be sure that you will not fall into debt. You can be sure that you will not spend your salary even before you receive it!

4. You Know The Value Of Delayed Gratification
The culture that we have actually promotes instant gratification. We want everything instant! That’s why have instant noodles, instant oatmeal, instant crab and corn soup – everything is instant, just add hot water!

But the wealthy knows, nothing comes in an instant. There are no shortcuts. Success only happens when you are willing to work hard. Success only comes when you are willing to put in blood, sweat, and tears. Success only comes when you are willing to keep going even when you want to give up. Success only comes when you are willing to focus on what you need to do even when you feel like doing something else. Success only comes when you are willing to focus on the process and not just on the end result. Success only comes when you are willing to delay gratification.

5. Investing Is a Top Priority For You
If you look at the lives of the wealthiest people, you will see one thing that they have in common: they take investing very seriously. Investing is what allows you to build and continuously grow your wealth.

But, don’t get me wrong, saving money is important. In fact, it is a very important step in one’s financial journey towards becoming rich. But, it can only take you so far. If you want to become very rich, you will need to do more than just save. You will need to invest your money. In fact, you will need to invest what you save.

6. You Know The Value of Generosity
Let me tell you this: It is impossible to multiply money by hoarding it. If you know the value of generosity, this is also a sign that you will become very rich. Why? Because having the value of generosity comes from an abundant mentality. Only if you have an abundant mentality can you live an abundant, very rich life. So what does an abundant life look like? It is a life that shares with others rather than being just concerned with your own needs. It is a life that shares opportunities with others to create an even better and an even bigger opportunity. It is a life that includes others rather than pushing others away and doing everything on your own. Remember, no man is an island! You are not existing only for your own.

THINK. REFLECT. APPLY.

Now, I want you to think, reflect, and apply.

Do you see any of these signs in your life right now?

Which of these signs are you able to live out on a daily basis?

Which among these do you need to start doing?

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