You may have dreams and goals to achieve. If one of your goals is to become a Crorepati, then this article is for you. To achieve goals, you need to take action. You need to be clear and concise. You need to stick to the action plan.
Sit down and make a list of your goals. You may want to become a Crorepati in 5 years, buy a house in a good locality, buy a high-end car, educate your children abroad, take foreign trips and so on. It is important to make a new list each day.
Want to know more on Investment Planning? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of 4`any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
You May Also Watch:
Over time you’ll see that not all goals on your list make it to subsequent lists. This is because priorities change. You might now want to settle for a decent mid-range car, instead of a high-end car. You may forget some dreams and abandon those which are unrealistic. After a few days, you’ll get a list of real goals.
Goals should be real, measurable and relevant. Goals should be achievable and time bound.
Becoming a Crorepati will only remain a goal if you don’t assign a timeline to it. How many Crores do you want to earn in how many years? Rs 100 Crores in 1 year or Rs 1 Crore in 5 years? Well, the first is unrealistic. The second is real and achievable.
Ambiguous and unrealistic goals like I want to become rich or I want to take a foreign trip or I want to earn half a Crore are not achievable; simply because they have no time frame and they are indefinite.
You can only create wealth to the extent of earnings. Investment is not magic. You can’t invest 1 Rupee and expect it to grow to Rs 500 in a day or two. Keep in mind:
There’s nothing new and nothing unknown. But do you ever practice this?
You can increase savings in two ways:
How long can you cut down expenses? How many expenses will you cut down? How about increasing your income? This makes sense. So, how to increase income?
Tap multiple sources of income. Secondary income may fluctuate, but it adds to overall income.
Stick to the basics. Don’t cut down regular expenses, rather optimize them. How to optimize expenses:
You can’t expect to make a Crore in 5 years without taking risks. Your SB account will not earn you great returns. You have to start taking higher risks. It doesn’t mean you jump mountains or invest all your savings in shares. That is foolishness. These are a few tips to grow your money:
Keep your Financial Cognizance up to date with IndianMoney App. Download NOW for simple tips & solutions for your financial wellbeing.
Be Wise, Get Rich.
The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.
Subscribe to our Youtube Channel
This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.