how to get rich slowly

When people ask me for my top tip on personal finance, they’re often disappointed. My top tip isn’t sexy. “To get out of debt and to build wealth,” I say, “you must spend less than you earn.” People are hoping for something more — some sort of mystical secret. Buy you know what? As mundane as it sounds, that is the mystical secret of money.
If you want to get out of debt and build wealth, all you ever need to do is spend less than you earn. Everything else is we talk about at Get Rich Slowly is window dressing, a prop in support of the fundamental equation of personal finance:
[WEALTH] = [WHAT YOU EARN] - [WHAT YOU SPEND]
The wider the gap between what you earn and what you spend, the more financial success you’ll achieve.
Spend lessThis simple formula has a couple of implications. The first is that frugality can have a very real impact on your financial situation. Frugality is an important part of personal finance. When you decrease your expenses, your cash flow increases. If you’re living paycheck-to-paycheck on $3000 a month, reducing your monthly expenses by $300 can give you substantial breathing room. (See the Charles Dickens quote at the start of this article.)
The big advantage of thrift is that you can implement it immediately. In theory — if there were no psychological factors — you could cut your expenses in half today and your savings would sky-rocket. Thrift pays immediate dividends.
The disadvantage of frugality is that there’s a limit to what you can do. You can only trim so much from your budget before you become miserable. Or until you don’t have enough for food and shelter. If you earn $3000 a month, you only have $3000 total you can cut. At $3000 monthly income, your maximum positive cash flow is $3000.
Earn moreThrift has limits. You cannot spend less than zero. On the other hand, there is theoretically no limit to how much money you can earn. Frugality is important, but if you want to make real progress, increase your income.
In the 3-1/2 years I’ve been running this site, I feel like I’ve never been able to make this point emphatically enough. The people I know who have met with wild financial success have all done so by increasing their income in some way. They’ve all had to make sacrifices to do this, but once they’ve met their goals, they’re able to scale back to a normal way of life. If you want to destroy your debt — not just defeat it, but destroy it — do something to boost your income. How do you earn more money?
Work longer hours.
Get a second job.
Start a small business.
Sell the stuff you have.
All of these work, but they all require sacrifices — especially the sacrifice of time. Most people feel that these options aren’t right for them. If that’s the case — if you’ve already cut your spending to the bone and you’re unable to earn more — then there’s really no answer other than extreme frugality and patience.
There are no silver bullets. There’s no magical way to change the fundamental equation of personal finance: To build wealth, you must spend less than you earn. If a person has already cut her spending to the bone and is unable to increase her income, she will continue to struggle.
This is the third of a thirteen-part series that explores my financial philosophy. These are the core tenets of Get Rich Slowly. Previous parts included:

Charlotte forwarded a great article from Mother Earth News. (When did they go online? It seems so antithetical to their nature!) In “Live on Less and Love It!”, Craig Idlebrook describes 75 ways that his family enjoys life while spending and consuming less. And he should know. He’s a practitioner of extreme personal finance:
On paper, my wife and I are poor. How poor? In 2005 we made $4,303.84 combined; in 2004 we made half that. We’re in such a low tax bracket that I have trouble convincing the government of our tax return’s accuracy; they simply can’t believe Americans can live on that kind of money.
[...]
We’ve arrived where we are now through a decade of daily financial decisions. Because we didn’t want to spend our time earning money at jobs we didn’t like, we instead focused on how to stretch our money. We found that by controlling our day-to-day expenses, we could save a lot of money without sacrificing our quality of life. Neither my wife nor I will ever be confused for financial wizards; there’s nothing we’ve done that you can’t do if you’re serious about saving money.
The 75 tips are grouped into categories such as “good cheap food”, “how to avoid rent”, “creative transportation”, and “when you can’t avoid shopping”. Many of these suggestions will be familiar to veteran cheapskates, but there are some gems that even I hadn’t considered before. Become a caretaker? Hmmm…
Here are some of my favorites:
“Buy raw ingredients instead of prepackaged foods. If you don’t know how to cook, learn. You’ll save on food bills, and your body will thank you for it in the long run.”
“For long-term stays, become a caretaker. A good place to find such caretaking jobs is The Caretaker Gazette.”
“Salvage materials for your new home. There are lots of possible sources: Look for someone who’s renovating a house and might let you cart away old materials; check the yellow pages for used building materials; or look for online groups, such as Freecycle, where people trade all kinds of unwanted items.”
“Switch off your water heater when you’re not going to use it for extended periods of time.”
“Ask if your city has a carshare program or start one with people you trust.”
“Don’t go into stores unless you need something. Always carry a shopping list. Remember, stores are designed to get you to buy things you didn’t know you needed.”
“Buy clothing used whenever possible. You may have good luck finding clothes at garage sales, or find a wider selection at thrift stores, consignment shops and on eBay.”
“Rediscover the radical notion of the library. Imagine Internet access and thousands of books, CDs and DVDs for free!”
“Trade your home with friends around the country and enjoy free lodging in a new location.”
My father loved Mother Earth News. He was a dyed-in-the-wool conservative, but he embraced the magazine’s do-it-yourself ethic, despite all the “liberal hippie” talk of recycling and sustainability. Me? I like it because it’s all about making the most of what you have, and about removing yourself from consumer culture. (And I like the articles on recycling and sustainability!)
[Mother Earth News: Live on Less and Love It!]

if you don't want to be broke

there are basic things you should know if you will not remain poor or in debt. They are what I stated below:
Stop living a show glass life; stop living a lie so many people are living to show what they don’t have. As a result they are becoming poor by the day. Being rich is an habit, being poor is an habit. The more you live your life to show that you have money don’t really have, the poor you become. Some ways you show that you have the money you don’t have is by buying three cloth for one occasion when you know you cannot afford it, when you force yourself to buy a car you don’t have, then you become poorer faster than you ever think, when you are buying or purchasing what you cannot afford so that people will not look down on you, then you cannot become rich. When you are spending the money you don’t have by borrowing or staring yourself, then you will become poorer faster than you ever think.

2.stop believing lies about money
lies about money means misconceptions about money that has settled in people subconscious mindset thereby directing and dictating their behavior and lifestyle. Lies about money are memes. Meme is a unit of cultural information such as cultural idea or practice that is transmitted verbally or by repeated action from one mind to another. Meme are point of view we live with and live by. These meme determines how you relate to money that determine how money enters or leaves your life. Your financial life hinges on these memes. These meme are your beliefs. These forms your belief systems about money. The memes operate with your subconscious mind. You probably already know that your mind has two major parts to it, your conscious mind and your subconscious mind.

The Simplest Plan in the World for Getting Whatever Rich


By Andreas Ohrt


Over the past 18 years, I have been obsessed with learning how we can change our reality with the creative power of our minds. I've studied dozens of experts, read hundreds of books, and spent thousands of dollars in this quest. Through all of my experimentation, I've discovered that there are four simple core principles at the heart of the creation process.
In order to finish off the "Mind Over Money" e-course as effectively as possible, I have tried to make this knowledge as simple as humanly possible. I want every single person reading this to be able to take this information and use it, easily and quickly. Here then, is the most simple possible explanation of the power of your creative energy. Follow these five steps, and any goal can be yours.
STEP ONE: KNOW WHAT YOU WANT Yes, it seems so obvious, doesn't it?
You must know what you want in order to get what you want. Yet this most basic fist step is missed by the majority of people. You must know what you want as specifically as possible. This is the magic first step.
Daydreaming about your future will not bring you what you want. Waiting for life to work out the way you've always expected won't bring you what you want. The only wayt o get what you want is to decide, with clarity and focus, exactly what you want to create.
So how do you know what you want? Well, it's very simple. Write down your desires, your dreams, and everything that you want for your life. Then pick the one thing on your list that you know you could accomplish if you dedicated some energy to it. Pick that one and forget about the rest. Pick the very next goal in the creation of your live and go for it.
Focus, focus, focus. Don't waste your energy wishing and dreaming for a million and one things. Pick one and go with it. Just as the journey of a thousand miles begins with a single step, so does the journey to your ideal life begin with a single goal.
So begin with an easy, do-able goal, so far unaccomplished, plug it into this 4-step system. Write down as specifically and exactly what it is you will create. After it's finished, move on to the next goal.
STEP TWO: FOCUS ON WHAT YOU WANT You must give positive focus, energy, and attention to your goal. Setting a goal and then forgetting about it will not do. You must imprint it on your conscious and subconscious mind until it becomes reality.
Remember, thought is blindingly fast compared to the manifestation of thoughts into reality. Of course, as you practice this system and become more confident, your thoughts will come into reality much more quickly. But as a beginner, you must keep your energy and intention directly on your goal.
You must focus on what you want, not on what you don't want. Stop complaining about things that are not the way you want them to be. Instead, decide how you would like them to be and focus on that. Whenever you find yourself giving attention to some area of your life with which you are unhappy, immediately ask yourself "What do I want in this situation?" and focus on the answer.
Take a look at your goal every day, give it positive focus and attention. Before you fall asleep and after you wake up, instead of worrying about your problems, imagine your goal successfully attained, and feel how you would feel if your goal was accomplished. Go to sleep with this feeling, and your subconscious mind will quickly find a way to bring it into your reality.
STEP THREE: TAKE ACTION NOW!You must take action towards your goal, and you must take action right now! There is no other time that you can act. The past is gone, the future is an illusion. Making plans to take action is not action. You must take action right now.
There is always something that you can do to propel you towards your goal. It doesn't matter how tiny the action is, or how insignificant you might feel it is, you must do it. There is always some small step you can take. Take that step.
You must convince your subconscious mind that you are serious about accomplishing your goal, and there is nothing more convincing than taking action.
No matter where you are along your path to your goal, no matter how near or far you mihgts feel to be, there is always an obvious next step you can take. Take that step in this present moment. Right now.
If you have trouble figuring out what to do, or are paralyzed into inaction because it seems there are too many things to do, just do this: Make a list of all the things that need to happen in order for your goal to arrive. List all the intermediary steps that you will experience as your goal begins to enter your life.
Somewhere on this list will be the obvious next step. Do it. Do it now!
If your goal is truly out of your hands, you need a new goal. Waiting for other people to change or give you what you want is a sure way to always be unsatisfied. You must pick a goal you are in control of and do whatever it takes to make it come true. That is the only path to power and mastery in life, and the only way to ever feel fulfilled.
STEP FOUR: CHOOSE THE SAME THING EVERY DAYYou must be consistent. You must, consistently, choose the same goal every day until your goal is accomplished. You cannot send out constantly changing vague wishes into the universe and expect to create results in the real world.
It's as simple as ordering a meal in a restaurant. You must decide what you want and then ask for it. If you can't make up your mind the waiter will simply server someone else until you're ready. If you do not provide the universe with a specific goal which you consistently ake action toward, your "meal" will never come to you.
And the most important secret of all...
DON’T GIVE UP UNTIL YOUR GOAL IS ACCOMPLISHED