To create your own capital is a goal that is quite achievable for any person. This requires not so much money as a desire to gain financial freedom, personal finance skills, and an understanding of the basic principles of creating monetary assets.
It is necessary
time, financial self-education, intrinsic motivation
Instructions
Step 1
Your most invaluable capital is time. No amount of money is able to return the precious minutes of life that were wasted. Truly rich people value time more than money, unlike those who are used to exchanging 8-9 hours of their lives daily for the implementation of other people's financial plans.
Step 2
Another resource that you simply must turn into personal capital is professional knowledge, skills and abilities in the field of finance. A full-fledged financial education is not five years spent in lectures on financial management and accounting at a university.
Step 3
You will get significantly more benefit if you make it a rule to take part in specialized thematic seminars on business and financial management, which are probably held in your city, at least once a month. But what if, by the will of fate, you live in a godforsaken regional center? If you have an Internet connection, then there is no problem. Modern network technologies make it possible to receive full-fledged distance learning through free webinars (Internet seminars).
Step 4
Since you set out to create your capital, it is good for you to realize what separates the really rich people from the poor people with money. The paradox is that often people who earn tens and hundreds of thousands monthly are unable to save and increase their money.
Step 5
According to Robert Kiyosaki, an internationally recognized authority on financial education, true wealth is determined by how long you can maintain your usual standard of living if your usual source of income - your job - is taken away from you. That is, here, too, the level of your well-being is expressed not so much by the amount of available capital as by time.
Step 6
The fundamental difference between rich and poor is what they spend their money on, what they buy. Poor people spend most of their money on what is a liability, that is, taking money out of their pocket. The rich, on the other hand, tend to buy those things that put money in their pockets, that is, they acquire assets.
Step 7
It is sometimes difficult to determine whether an acquisition is an asset or a liability. Experience and financial education are essential here. For example, an apartment that you purchased with a mortgage will be a liability if you live in it yourself and have to withdraw funds from your budget to pay off the loan on a monthly basis. The same apartment will turn into an asset if you rent it out, and so that the cash flow flowing into your pocket exceeds the cost of repaying the loan and utility bills.
Step 8
Another way to create a positive cash flow available to everyone is a variety of financial instruments, for example, participation in mutual funds, the purchase of derivatives such as futures and options. It should be remembered that such methods of capital creation require a significant amount of time, special knowledge and skills in financial analysis.
Step 9
The main recommendation for anyone who decides to create their own capital and gain financial freedom is - before investing money, invest time in the accumulation of useful skills. The result can exceed your wildest expectations.
