How to get rich from scratch

The importance of money

Money has great importance in life that cannot be denied. Just as a person needs food to live and survive, he also needs money. Money is important for purchasing special needs, paying fees such as house rent, or children’s school fees, and other basic matters. Money gives a person the ability to be self-reliant. If money is available, it will relieve him of the need for anything else. He will fulfill his desires alone, and buy what he wants without referring to anyone. Money also gives the ability to put an end to financial problems if expenses are managed properly. Even if a person’s monthly income is small, he can solve his financial problems if he spends it correctly, while there are many Of the people who have a high income but are drowning in debt; Due to poor management of their expenses.

With money, an individual can live a decent life, obtain luxuries in life, secure a better life for the family and provide various needs that its members want, in addition to helping others in times of need, whether they are relatives, friends, or anyone going through a crisis or financial hardship, and donations can be made. It is used for charitable purposes and to help the poor and needy. It is worth noting that a person should not lose his social relationships and health in order to obtain money, as money only brings happiness if it is spent correctly.

How to create wealth from scratch

Man naturally loves money, so whoever has an amount of money will try to have more. Most of those who have money spend their time thinking about how to increase it, to the point that they forget to enjoy life and spend their money in order to achieve happiness for themselves and their family members, and they preoccupy themselves with exploring ways to earn it, but It is possible to increase money and build wealth even if a person does not own anything. Below is a set of steps that help a person build wealth from nothing:

Reduce expenses as much as possible and for the longest possible period. This step is considered one of the biggest challenges that a person will face in building wealth. He must keep his expenses low. For example, it is preferable not to buy any luxury or unnecessary things. It is also possible to save on housing rent. Instead of the individual living in his own place alone, he can share it with his friends or with other people if he is a student or a worker. And to use the bicycle as a means of transportation instead of using public transportation, in addition to eating cheap meals instead of expensive ones, dispensing with television for a temporary period, and getting rid of the mobile phone to avoid spending more money on its services, and in general it must be remembered that these things are not permanent. Rather, it is temporary until a sufficient amount of money is available.
Avoid borrowing money or any new debts, and give priority to dealing with old debts, if any.
One can find multiple sources of income, and it is not necessary to find additional work. Rather, one can find a way to earn money. Anyone who has a specific skill or talent can use it to earn money, such as working in buying and selling via the Internet, teaching students at home, or restoring furniture. Selling used goods, and other things through which a person earns money without having to commit to a specific time.
Start investing. Once you pay off debts and reduce expenses, it will become easier to save. Once a person saves a certain amount of money, he will be able to invest it in a specific field as capital. Determining his monthly expenses and deducting a specific amount from the monthly income to invest in investment can help him do this. It is said that the principle of building wealth from scratch can be summed up in two things: They are to reduce expenses to a minimum, and invest the remaining money wisely. One can learn more about ways to invest money from specialized people, listen to their advice, and by reading investment guides that are published online.