The 20 Golden Rules Of Money Management That Will Lead You To Success!

Do you know what is the main method of enrichment used by the wealthiest people on our planet? It is quite simple: they create several sources of income at the same time, which allows them to get richer no matter what happens. Neither pandemics, crises, nor other external factors can stop them, and all this is thanks to income from different sources.

However, all the rich started from a single source. I have analyzed a dozen biographies and tips of successful people, and I am ready to share with you at once 15 ideas that will make you rich. This is the main channel on finance.

Click the subscribe button and start your journey to the world of wealth with us. First, let's get to the important theoretical part. Do not skip this point, because here you will understand what the essence of absolute wealth is.

It all starts with the concepts of assets and liabilities. Assets are things that bring you income, while liabilities are things that literally take money out of your pocket. Now, the most important thing is to focus on getting the assets that will make you money.

At this point, most people think that assets are something expensive, exorbitant, and unattainable. But in fact, most of us already have assets that we can start using to make money. Secondly, there are a large number of decent options that can be pursued by a person with a small income.

So if you don't have any assets yet but dream of becoming wealthy, it's time to start looking at your options right away. Because the sooner you start acquiring or using assets, the faster your income can grow. We'll probably start with the most popular asset: financial instruments.

That's a pretty broad term, but let's take a closer look at what you can do to generate income. First of all, buy stocks. They have been making people rich through dividends for years.

Stocks are a financial instrument that allows the average person to own a piece of a large company without being directly involved in the day-to-day management of the business. In today's world, buying stock in large companies has become much easier. Understand all the processes in detail and boldly start buying and selling stocks.

Mutual and index funds are another option for profitable investments. Now, a mutual fund is a portfolio of stocks carefully selected and purchased by professional financiers for the investment of a large number of small investors, while an index fund is a type of financial instrument that pools investors' money to buy a portfolio of stocks, bonds, or other securities. These two financial instruments are both considered to be the best-performing asset classes in terms of returns.

If you are a beginner and may make mistakes when buying stocks due to a lack of knowledge, mutual funds and index funds can help. The final type of investment worth your attention is bonds. When governments and companies need money, they can issue bonds that are sold to interested investors, i.

e. , you and me. Through these bonds, the investor lends money to the government or company, which in turn promises to pay back a certain amount of money on a regular basis.

Bonds are risk-free investments; they are completely safe because they are backed by the government. But as you probably know, investments that are virtually risk-free have very low returns. Still, bond returns can be higher than your deposit or savings account at the bank.

Such financial instruments are just one part of a wide range of other opportunities in this area. If you are interested in numbers, if you are ready to understand them in detail, if you have inspiration, energy, understanding, and most importantly, money to invest, you should pay attention to the instruments I have just described. But this is only a small part of the opportunities the modern world offers to make money.

Real estate is the next idea to get rich. Apartments, houses, commercial properties, warehouses, offices—the list goes on and on. All these things generate income.

In fact, many millionaires have become rich thanks to real estate. For most rich people, real estate is one of the main parts of their income. The advantage of renting out real estate is that you can receive monthly income in the form of rent from tenants.

This steady stream of income can greatly increase your total income. You can be very successful at renting out real estate. After a while, you will reach a point where you can cover all your expenses with rent payments without doing anything.

And this is the most amazing news that comes with the idea of renting out real estate. Aside from long-term rentals, there is an even more lucrative option: short-term rentals. Philly and even hourly options can generate even more income on a monthly basis.

Unfortunately, to get started, you need a significant investment. In addition, no one canceled the risks of such an investment. But you do not have to buy a large apartment or house right away.

You can start with commercial properties such as warehouses and move on to more serious investments over time. Also consider office space. Don't rule out buying a property while it's still under construction; square meters will cost you much less.

After commissioning, in addition to the fact that it can be sold more profitably than at the time of purchase, there is still the option of renting. If you are not ready to buy a property on your own but you have experience in real estate, you can ask a group of investors for a down payment. The next stop is gold, a valuable tool for building wealth.

It is one of the fastest investments apart from government bonds. By the way, like real estate, gold never goes down in value. In fact, its price moves in the opposite direction of a recession.

Here is the text with corrected punctuation: In other words, when there is an economic downturn, the price of gold rises or recovers very quickly. How can you invest in gold? You can buy physical gold bars, store them, and sell them later.

You can also buy gold-plated jewelry; these also appreciate over time. You can also consider investing in gold mining stocks or buying gold ETFs. Do not hurry to get upset if you suddenly think that expensive options are ahead of you.

Now I will give you an example of several ideas that either require minimal investment or you already have the assets to realize them. As I said in the beginning, the first thing that can bring profit is the creation of a personal blog. It is not about a specific page; for example, on Facebook, you can include any type of blog—podcasts, YouTube videos, TikTok, Instagram pages, and many others.

And yes, all you need is what you probably already have: a smartphone or computer, some time to come up with an idea for a blog, and then have the strength, motivation, and effort to create and maintain your page. For YouTube videos, you don't need a professional camera, microphone, or lighting; the main thing is to start with an interesting idea. Then, as you begin to receive revenue from monetization or advertising partnerships, improve the quality of your material.

That will lead to an increase in revenue. The same goes for a podcast; a smartphone voice recorder will do for now, and a phone camera for an Instagram blog will probably always be enough. Often, you won't even need professional equipment.

Each site has its own nuances about making money; one thing they all have in common is income. Getting the coveted income through your blog is possible thanks to selling advertising on your site. Make your blog popular, useful, or entertaining.

Get advertising requests, and along with them, the actual payment for your work. Then, expand your sphere of influence: start creating your own merch, provide personal consulting, become the face of some brand, and increase your income. Another idea that does not require much investment at the beginning of the journey is to create your own course.

This option is for those who want to turn their mind into wealth. The main thing here is to have some knowledge and then the idea of how to turn all that knowledge into information that can be sold. Do not forget the investment of time and effort to realize the intended goal.

The beauty of such courses is that you can teach other people absolutely everything, from playing the piano to programming. The main thing is to have useful information that needs to be presented and sold properly. An important part of any course is going to be advertising; you will need to spend money so that as many people as possible learn about it, and then you will receive the cherished income.

By the way, more traditional online or offline lessons can safely be attached to this idea; private lessons from a professional are always welcome. Do not hesitate to offer your services to friends and acquaintances. Over time, word of mouth will help spread the word about you.

Place your ads on social networks and special platforms; here, you need your knowledge and time, and rest assured, the desired income will be in your hands. A bit more about technology: create your own app. This is another possible source of income if you have an idea to solve some problem with the help of an app.

Maybe you want to unite people in a new way, improve their communication, or perhaps you have a brilliant idea for a game that everyone would be passionately immersed in. It's time to think about creating an app. This idea requires your own investment but not necessarily knowledge in this field.

You can find someone to help you create a program based on your ideas. You can generate income from the app in several ways, from displaying ads to selling paid subscriptions for additional services. If you decide to go into this field, keep in mind the investment, the risks, and the importance of program updates.

Any quality app should be maintained by its creators through its existence. Many apps on your phone started from scratch and became incredibly popular. For example, the Uber service was a small startup and was developed with the funds of its creators.

Over time, Uber became a large public company with millions of dollars in revenue. Think big! When developing a mobile application, make sure your idea is in demand, and don't give up if you suddenly run into trouble.

Intellectual property is the next asset that can make you money. Intellectual property is a general term that refers to any product of the human mind that is protected from illegal or unauthorized use. The list of intellectual properties includes inventions, literary and artistic works, photographs, scientific articles, and more.

There are four ways to protect intellectual property: patents, copyrights, trademarks, and trade secrets. This is where the potential rewards lie. If you invest in something—a mechanism, process, or system that makes life easier—write a book, create a work of art, or develop a trademark.

You can protect your invention, book, song, or image by obtaining a patent, copyright, or trademark. These documents identify you as the sole legal owner, protecting your property in this way. Individuals and companies must pay you to use it; if they don't, you can sue them.

Patents are power. Consider creating this type of income; not only will you be able to support yourself for years to come, but your future generations will thank you and benefit from your work. Business is the next idea that many people have been making money with for a long time, and if you develop your business the way all of… Us famous entrepreneurs did then your income will have no limit, depending on your ideas.

Investments in business can be completely different; you should not forget about it. You can consider options for creating an internet business. You don't have to go far for examples: Amazon is a vivid proof of how an idea to sell books can turn into a multi-billion-dollar company.

Think about selling goods or services online; often, the barrier to entry for this type of business can be low. Traditional businesses—cafés, restaurants, car washes, bars, diners on wheels, clothing stores, which by the way can be an online or offline idea—again, you can think in different directions with different scales. The most important thing to think about before starting your own business is the profit.

If you want to succeed and not lose your investment, think about what will be relevant, interesting, and useful to those to whom you will provide services or sell something. Put yourself in your customers' shoes and consider whether they need what you are about to create. Most entrepreneurs who have started their own businesses have done so based on need: what good and benefit their brainchild can bring.

Look at your business from that perspective, and if you find that you are meeting a need for a large number of people, offering something innovative and special, then go ahead and start your own business. If things go badly with business ideas—and in today's world, it's really tough to create something unique, special, and subsequently successful and popular, although it is still possible—then pay your attention to franchises. For those who are not in the know, it is the purchase of the right to open a business under a well-known brand.

This type of license gives the buyer access to operations, business models, technology, and so on. The reason why opening a franchise is a very, very good idea is that you can work with a proven business model that is already successfully generating income, rather than trying your hand at unproven ideas. How do you look for franchises?

You'll see that many of your favorite brands offer them right on their websites. The advantages of franchises are that it is possible to find an interesting offer for different budgets. Ready-made business models already have all the nuances for a successful launch, and the parent company helps to prepare documents, provide contacts with suppliers, train the team, and accompany it at all stages.

Such an asset also has its own risks, such as the shutdown of the network. If this happens, you will no longer be able to operate under the same brand name. There are also restrictions and standards; for example, you have to meet a number of requirements from the brand owner and also clearly follow the production technology, quality standards, and so on.

But there are also many advantages. In addition to a developed plan and support from the parent company, you know from the very beginning how much money you need to invest in the business, when you will start receiving profits, and in what amounts. Thanks to the promoted brand and ready-made business model, you will start receiving income quickly.

In general, franchising is an interesting way to increase your income. You can consider it in case franchising seems to be an expensive option that is not yet suitable for you. Here is an idea that will require a minimum amount of investment and maybe even almost nothing at first: it is about selling used goods.

There is also a business, and it too can generate income. To start, go through your closet and find something you can sell. Then you can go further and buy used items, refurbish them if necessary, and resell them.

There are still plenty of people in the world who are willing to buy used goods. Post your ads on various social media platforms and sell just about anything. In fact, these are just a fraction of the proven ways you can multiply your wealth.

Give this video a thumbs up if you want to learn more exciting and, most importantly, profitable ways to make money. Let's get 1,000 likes, and I will definitely make the second part of the video. This is the main channel on finance; subscribe and get rich.