Step 7: The more you learn, the more you earn - Increase your ability to earn
Wealthy people keep learning and educating themselves, not necessarily through formal education but continuing to read and learn from others can only enhance your life and your journey towards wealth.
Continuing your education can increase your employability and chance of promotion. It could also assist you in a career change whether it be a higher paying career or through greater fulfilment.
Formal education can be seen as an investment in yourself, you are effectively spending money on education to ensure an increased future income.
It could be one of the best investments you can make, it will involve time, money and commitment but is likely to be mentally and financially rewarding.
Learning and continuing education is a way to improve yourself and it opens your mind. Whilst it may not directly result in a larger income or increased wealth, it will open your mind to opportunities and ideas that may lead you down this path in the longer term. If formal learning is too expensive or too much of a time commitment for you, many universities offer free online short courses, there is also plethora of Apps and YouTube video tutorials that you can view and teach yourself new skills. Access to learning new things has never been so easy.
To recap on your 7 steps to creating real wealth;
- Save 10% if your income – start now!
- Spend less than you earn – do a budget and never spend more than you have coming in.
- Make your money work for you – consider investing to grow your savings
- Protect your investments – don’t gamble your savings, spread your risk, seek advice
- Consider owning your own home – go slow and commit for the long term
- Ensure a future income – review your superannuation and consider personal insurances to protect your future
- The more you learn, the more you earn – keep learning for your wealth and your wellbeing
And that's it - it's not about a great idea or being an overnight success it's about working hard, making sacrifices and following all the steps - bit by bit you can create real wealth and live a happy a prosperous life. It's not easy but it is possible and anyone can do it.
Keryn Batsilas is a financial adviser with over 10 years of industry experience. Keryn works with a team of financial professionals as a Senior Associate for McQueen Group; consulting to businesses and professionals on all things financial. She loves sharing her passion and knowledge of financial matters to help people live the life they want to live.
Twitter: @KBatsilasWebsite: kerynbatsilas.com.au/