Ideas on How to Become Rich - women and money, part two

Ideas on How to Become Rich - Women and Money, part two

Hi folks, the last blog I mentioned about women and money. There is about 10 percent very powerful and rich women among the community folks in every country from America, Britain , China to South Africa. The common traits of these rich and wealthy women are as follows:

a) Believing in themselves as being richer than they thought. These women have in them a kind of "conscious belief" , inspite of discouragement and dampening remarks by other people and of course the manfolks.This belief in themselves is such a powerful force that enables them to act and do the things in the manner that they think they are rich and powerful by upgrading their knowledge, upgrading their daily routine and by ungrading their environment in a slow and steady manner , so much so that the people around them are not aware of such developments until the day comes when they emerge top of the ranks. I know of many such women in our midst, quietly enriching themselves and silently amassing skills and expertise in financial management, investment in the stock market and savings in trust funds and bonds as well as buying insurance with whatever savings they have. In due time,the amount of money becomes so much that they are rich beyond their own understanding. The income flow is somewhat like a pipe and their riches become as the tap, able to flow as and when they need the money. This is the kind of belief and action that come with planning and lots of hardwork in daily working and accumulating the money and wealth.

The other common ground which all the rich and wealthy women share is the way they learn from other powerful and rich successful people. A study of America's top 40 richest people will give you an idea how these people become rich and then you study their behaviour, their spending pattern, their decision-making process and most importantly, their way of handling success and failure. Once you understand the concept of getting there - the way these people become rich, you will have to follow in a wise manner, with your own initiative and flexibility because each one of us is endowed with different perspectives and different journeys. One thing for sure, professional training and help is very vital to being successful and rich. Education is a main bridge in this journey. You cannot avoid training and professional help. Doctors, lawyers, engineers and architects have many long years of training and practice before they make it big. This is the same as women who upgrade while looking after children and undergo training while they are cooking and sewing for their loved ones...

There is no get - rich formula or short cut. There is passion, enthusiasm and hardwork plus lots of tenacity and endurance because in this journey , everyone is a winner if one thinks so. Women who have become rich and powerful, have understood this simple fact while accepting the norms of the society.

In Singapore I have a lot of female friends who are very rich and successful , yet they are great mothers and cooks. They are able to balance life well and enable the community to grow as well. The way to being rich is not just in the physical accumulation of wealth and money, it is also the way of thinking rich in thoughts, deeds and to be generous to those in the community.

Well, go for the professional training which you wanted all the time. Do not proscrastinate because time and tide waits for no one. Every day is a new day for learning and getting rich because 10 cents saved is 10 cents gained. The rich mentors are out there waiting for students to learn to be rich... go, and just do it!

Sally Klaus

Ideas on How to Become Rich

Ideas on How to Become Rich - women and money

Ideas on How to Become Rich - women and money

Hello and it has been a long time since I last wrote here on Ideas on How to Become Rich because I was away giving talks and earning big bucks in the growing educational and training sectors.

Many women are not savvy with money matters because most of them feel that it is the man who should be handling such things since young. As a result, most of the women I know, are unable to calculate their net worth or their economic value. It is so sad that being the fairer half, the women are not given a fair share of wealth and riches although some manage to secure both on their own terms. Others have problems even balancing household expenditure and giving themselves some gifts once a while.

How do enable women in general to become rich and worthy of their salt. there are some tips which I shared with my participants at a seminar on women and money matters.

Firstly, everyone of us especially woman, must determine your money goals long term and short term. This simply means what do you really want to achieve in monetary terms at the end of 1 year, 2 years or even 5 years. How much wealth are you going to accumulate over the next few years?

Once you have decided on your goal or money target, you have to then examine your resources on hand. Your talents, skills and your expertise are measureable in terms of money because you can transform your skills into something worth in money value ; you also can look at the jewellery you have collected over the last several years (if you have any of these gold, silver or precious stuff) or you have some kind of old furniture or antique passed down by a grand relative etc..

You can convert trash into cash and save the environment at the same time. This way you can have money to use in times of rainy days or emergency situations.

the third step is to curtail your spending urge. Spending is a habit for most women. A lot of them buy things on impulse or want and not really based on needs. They then discard those stuff away or store them in cupboards for a long time collecting cobwebs. So the best thing before you spend money is to check your spending and what are the essentials for weekly or monthly plan. this way you can save quite abit of money which can come in handy later on.Also you can put the bank into some kind of investment ventures to earn interest or dividend.

Another area is to avoid using credit card. This piece of plastic seems harmless but when you use it, it can get out of control and become your master. Many people I know are enslaved by this plastic card. They overspend without knowing as the pain only comes at the end of the month when the bill comes. So, my advice is to avoid using credit card wherever possible.

The next thing is always be prepared for life's unexpected events. Recently iceland volcanic eruption caused the ashes to be flown all over the world stopping the airways and airlines were affected and lost billions of dollars. Many hotel owners quickly gave discounts to the stranded travellers in their countries such as New York, London and major cities. The goodwill shown in this unexpected event will make the tourists remember that country well. Similarly as a woman, it is good to be aware of opportunities in daily mundane events and capitalise on them in case such things happen. I know of a women entrepreneur who was selling trinkets and making very little money. But when the SARS came suddenly in 2003, she quickly changed her strategy and bought lots of gloves, medical supplies which now becomes her trading inventory. She has since become rich and powerful in Singapore. Such ability to look beyond the unexpected events has made her very rich and powerful.

So to be rich and powerful, it takes common sense and lots of alertness for women in general and this applies to men as well. Open your eyes to opportunity, learn to avoid the use of credit card unless it is truly necessary and also set a monetary action plan which must be feasible, measurable and attainable. It is from a small acorn that you get the big oak tree, so start small with little risk investments and save hard and let the money grow into big oak later on...

the ocean is a collection of many little drops of water. So handle your money with your heart and head. It is definitely good for men and women to know money matters well, so that all can become rich in due course and also be prepared to become wealthy when the times come.

Have a meaningful day and save hard.... cheers

Sally Klaus

Ideas on How to Become Rich