Growing Your Wealth by Small Starting


Starting going to be rich and wealthy

Have you ever heard this phrase “I earn so little, how am I ever going to be rich and wealthy?”

It is this limiting belief that prevents many people from growing their wealth and be truly rich.

The thing is, getting rich and attaining financial freedom is a journey that requires lots of planning, discipline, and more importantly.

Therefore, since it is a journey, you really have to start somewhere.  If you are just starting out in your financial journey and have absolutely no idea where to start, the best advice is to start small and start as early as possible.

This is one of the best wealth-creating habits.

A small amount accumulated over a long time can be substantial, something like a snowball effect.  Grow your wealth gradually by saving small amounts and investing small amounts.

How do you begin?

First, you must understand your spending habits. If you are spending more than you earn or have little savings at the end of every month, you have to begin to monitor your spending.

You can create a spreadsheet like an Excel worksheet and list down your detailed spending.  Try to classify into different main categories and sub-categories like

Personal (dining out, clothing, income tax, entertainment, insurance, etc.)

Children (toys, education, milk powder, clothes, healthcare, etc.)

Housing (groceries, housing loans, domestic helpers, etc.)

Transport (petrol, public transport, road tax, car insurance, parking charges, etc.)


For an example of how an expense sheet looked like, download it here.  The list is not exhaustive and you can customize it.

The idea is very simple, at the end of every month, review and study that month’s expenses or spending.  Determine which area you can cut your spending. For example, if you dine out regularly like once a week.  Try to cut down to once a fortnight.

Unnecessary expenses

Other suggestions will be to cut down on unnecessary expenses.  Ask yourself this question, is this expense a need or a want?  Then take concrete steps to cut those expenses on “wants”.

Of course, remember not to save on one area and then spend on another.  As long as you keep spending less each month, you will save more and your wealth will accumulate and grow.

Keep repeating the process of monitoring spending, reviewing spending patterns,s and saving more every month.  Bear this in mind, saving is a habit so cultivate it.

Saving money

As you begin to have some headway in saving money, start to repay your debts and also channel small amounts into investment.  Understand this: Debts do not make you rich, investments do.

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