Many people are interested in net worth. In fact, some people are even googling what my net worth is!
So what are the keys to increasing your net worth?
1.Live below your means
Net worth isn’t the same as having a big salary. As per Dr Thomas Stanley’s fantastic research, most wealthy people don’t overspend.
If you want to lose weight, it is 70% or 80% dependent on diet, and only about 20% exercise. Likewise, if you want to get wealthy, it is 80% your spending habits that count, and 20% dependent on your income.
2. Avoid Parkinson’s law.
What is Parkinson’s Law? It is the saying that “work expands so as to fill the time available for its completion”.
We all knew the person at university who could complete a great essay, with the help of coffee no doubt, just a few hours before the deadline.
In money, Parkinson’s law states that the more money you earn = the more you will spend. So “expenditure will expand to meet income”.
To carry on reading please click here