How to Become Rich in 10 Days by Taking Simple 4 Steps in 2021

There are no “secrets” to getting rich overnight. But there are proven systems to get rich.

There are some repeatable, proven, systems to help you increase your wealth. There are also many foul scams promising you’ll get as rich as Scrooge McDuck — and it’s crazy how many people still fall into get-rich-quick traps even though there’s mountains of evidence that shows that they’re total scams.
Take multi-level marketing (MLM) businesses for example.
I hate MLMs. So. Freaking. MUCH.
But despite all of the negative media attention, the government crackdowns, and the fact that you’re expected to spend an average of $25,000 of your own money to sustain this “career,” MLMs still managed to pull in more than $36 billion in 2015 alone.
This is an industry filled with fraud and broken promises — one in which you can reasonably expect to not only be swindled but hired to swindle others too!
MLMs aren’t the only get-rich-quick traps I see out there either. Here are a few others I’ve noticed:

• Win the lottery. It’s common knowledge that we all have a better chance of being hit by a meteorite or struck by lightning than paying for a Tesla with an oversized Powerball check.
• Become Instagram famous. At the risk of sounding like a crotchety old man, I remember a time when kids weren’t betting their futures on getting paid for their bad selfies.
• Become a pro athlete. Please don’t count on this. Not only are the odds of becoming a pro-athlete incredibly small, but it also requires a lifetime of practice, iteration, and dedication to improvement. Also, who actually likes sports?

The fact is if there were truly one great way of getting-rich-quick, we’d all be doing it.
There are no “secrets” to getting rich overnight. But there are proven systems to get rich — and they take time.
However, I promise that if you take any of these 4 steps, you’re setting yourself up for long-term success. Do all 4 and you’re almost guaranteed to get rich.

1. Invest early and often to become rich
2. Practice conscious spending like a rich person
3. Tap into hidden income
4. Start your own business

Step 1: Invest early and often to become rich

The single most crucial thing you can do to ensure your financial future is investing — and the sooner you start, the easier it is to get rich.
This isn’t BS. There’s more than 100 years of evidence in the stock market that suggests this.
Still don’t believe me? Let’s look at a real world example of how to become rich by investing.
Say you’re 25 years old and you decide to invest $500/month in a low-cost, diversified index fund. If you do that until you’re 60, how much money do you think you’d have?
Take a look:

$1,116,612.89 That’s right. You’d be a millionaire after only investing a few thousand dollars per year.
Notice, I’m not talking about the Hollywood type of investing where hot-shot stockbrokers make huge multi-million dollar trades while yelling “SELL” into a phone for some reason.

Pictured: Some dude trading stocks and losing money. Not pictured: You investing in low-cost index funds and getting on with your life.
I said you should invest in low-cost, diversified index funds over time. That’s because smart investments are about consistency more than anything else — not chasing hot stocks. Or other weird investments:

The two essential ways to invest your money are straightforward:

• 401k: Be sure to take advantage of your employer’s 401k plan by putting at least enough money to collect the employer match into it. This basically means that for every dollar you contribute, your company will match that (pre-tax!). This ensures you’re taking full advantage of what is essentially free money from your employer. That match is POWERFUL and can double your money over the course of your working life:

• Roth IRA: Like your 401k, you’re going to want to max it out as much as possible. The amount you are allowed to contribute goes up occasionally. Currently you can contribute up to $5,500 each year.

Note: If $500/month sounds like a lot, read all the ways you can free up that money with just a few phone calls.

Step 2: Practice conscious spending like a rich person

Anyone who knows me knows that I detest ultra-frugality — otherwise known as the lifestyle of clipping coupons and sacrificing things like lattes for the sake of saving money.
Unlike a lot of people you see in the personal finance world, I’m not ashamed of how I spend lots of money on things I enjoy like eating out, traveling, or nice clothes.
And that’s all because I practice conscious spending. It’s the same system my friend uses in order to spend more than $21,000 on going out. I’d never tell you to skip on spending on the things that make you happiest. Just do so purposefully, and by avoiding the mindless spending that can come from disorganized finances.
Setting up the system might seem hard — but in the end, it’s all about:

1. Automating your finances.
2. Knowing where your money goes so you’re in complete control of the situation.

Automating your finances allows your system to work for you and passively do the right thing instead of you constantly wondering if you have enough money to spend. Or, getting your credit card bill each month, shrugging, and saying to yourself, “Yeah, I guess I spent that much.”
And it’s simple: at the beginning of the month, when you receive your paycheck, the money is immediately sent to where it needs to go through automatic systems that you have set up already.
Some spending recommendations for your system:

• 50%-60% Fixed Costs: This includes things like utilities, rent, internet, and debt.
• 10% Investments: This includes your Roth IRA and 401k plan.
• 5%-10% Savings: This is money that goes towards things like vacations, weddings, home down payments, and unexpected expenses.
• 20-35% Guilt-free Spending: Fun money! Spend this on anything you want from nice dinners to movies.

Why automatic? Because as humans we have incredibly limited willpower. It’s so limited in fact that it can render things like paying bills and putting money away in your savings each month a very difficult task.
Automating your finances subverts this by allowing you to save money without ever having to do it yourself.
If you want to find out more on how to automate your finances, check out my 11-minute video explaining it here:

Bonus: If you’re new to investing, this might be all Greek to you — which is why I wrote a huge, free guide on personal finance that goes into even more detail on the strategies described here.

Step 3: Tap into “hidden income”

I’m not talking about piles of cash buried somewhere in your backyard — this is the money that you can be saving right now by negotiating your bills.
That’s right. With just a few one-time, 5-minute phone calls, you can save HUNDREDS a month on bills for your:

• Car insurance
• Cell phone plan
• Gym membership (less likely but still possible)
• Cable
• Credit card

It’s simple too — there are only 3 things you need to do to negotiate with these companies on fees and rates:

1. Call them up.
2. Tell them, “I’m a great customer, and I’d hate to have to leave because of a simple money issue.”
3. Ask, “What can you do for me to lower my rates?

Of course, you’re going to want to adjust this formula for whatever company you’re calling. Check out my video on negotiating your bills for more on this topic.

Bonus: For the exact word-for-word scripts that I used to negotiate my bills, download the Ultimate Guide to Personal Finance.

Along with your bills, you can also be EARNING more money through salary negotiation.
This is actually one of the easiest and fastest way to earn more money.
In fact, a one-time salary increase of $5,000 — properly invested — adds up to over $1,300,000 by the time you retire.

1-time salary increase of $5000 invested and compounded after 40 years: 1,398,905.20! And in many cases, getting a raise only takes a single, 15-minute conversation with your boss.
Remember the chart from above showing the effect of $500/month?

You can meet this goal with ONE salary negotiation. If you’re interested in learning how to boost your income for life, check out my Ultimate Guide to Salary Negotiation (it’s free). It includes HD videos, word-for-word negotiation scripts, and walks you through each step in the process of getting a raise.
My favorite part: You’re already getting paid. Why not get the most out of every paycheck?
It’s a quick win, and you should absolutely capitalize on it. But if you’re looking for something that takes a bit more time — with a lot more upside — you should consider starting a business of your own.

Step 4: Start your own business

This is my all-time favorite answer to the question “how to become rich?” I’ve always believed that there’s a limit to how much money you can save — but no limit to how much you can earn.
This is especially true if you start your own online business.
From my years of experience not only running my own business but teaching scores of people to start their own as well, I’ve found that there are two great ways to start a business:

1. Turn the skills you already have into a side hustle.
2. Start an online business and reach millions of people all over the world.

Side Hustle
This is one of the fastest ways to get started in business. By utilizing the skills and talents at your disposal, you can start freelancing and generating a steady source of income on the side.
If you choose this option, you can quietly earn an extra thousand dollars a month on the side, like these students did.
And the best part: you don’t even have to quit the job you already have.
Online Business
With an online business, you can reach millions of people on the internet every day while scaling your product to help you earn millions online.
Don’t believe me? Check out just a few different ways you can make $1 million online.

• 250,000 people spending $4
• 100,000 spending $10
• 50,000 people spending $20
• 10,000 people spending $100
• 1,000 people spending $1,000

Could you find 1000 people to buy from you over the next few years? I think so.
To start an online business, you need to choose from 6 different models:

1. Software (including apps)
2. Physical products
3. Advertising
4. Affiliate marketing
5. Coaching
6. Online courses

Obviously, there’s a lot that goes into creating a business based on these models — getting traffic, building an audience, launching a product etc. — but it’s all completely doable.
Plus you can automate your online business so once you frontload the work, the business keeps paying you again and again, even while you sleep.
Over the years, I’ve shown thousands of students how to build businesses just like that. Click here to see some examples of the businesses they’ve built.

Bonus:  If you just can’t wait to get started for yourself check out my Ultimate Guide to Starting an Online Business.

Every great business begins with a profitable idea. After creating 18+ successful products of our own, we’ve developed a system that guarantees your business idea will pay.
If you’d like to see the system we’ve built — or if you just want to put your existing idea to the test — enter your name and email below.
When you do, I’ll send you a free video that shows you how to find a profitable business idea in less than a week.


Now if you belong to India and still reading, you surely will become rich if you follow following list

India ranks among countries where people can become millionaires in both, Indian Rupee and US Dollars. Contributors towards this trend are a younger population, proper exploitation of resources, vibrant economy to support start-ups and investor/ business friendly policies adopted by Central and state governments.
Aspiring millionaires do not have to fantasize about marrying into wealthy family, migrating abroad, committing crime or other hideous measures to gain wealth. Proper set of skills with some finance and business acumen are sufficient to become rich in India fairly quick.
Money matters: It really does
Embarking on an enterprise in India can be fairly arduous. Major impediment is funding a venture. Some of the ways to become rich fast do involve investments, which is possible if the entrepreneur is working or inherently rich.

For those unable to garner own funds, the Mudra Bank scheme of Indian government offers funding at low interest rates. Personal loans are offered by most banks and finance institutions, provided an applicant meets prescribed criterion.
Other non-traditional ways of getting initial investment are crowd funding, family syndication and community loans. Selling personal property or assets and withdrawing from securities is not advised as Indian market positions tend to swing wildly. Before investing in any get-rich-quickly enterprises, it is advised to seek guidance from experts in the field.

21 Ideas on How to Become Rich in India

So if you want to become rich fast in India then here is one of the best list of 21 ideas that will show you how to become rich.

1. Blogging is Best for Becoming Rich

If someone personally asks me the best way to become rich then my reply would be blogging only. Blogging not only made me rich, it made several people wealthy. Most people I knew earlier were not rich before they began blogging.

Many of the people still think this as technical profession but it’s no more technical. If you have Zero knowledge of web design and don’t speak English at all then, yet you can start blogging and make lots of money online.

You can write blogs in Hindi or in your mother tongue. You can share your knowledge and your own experience through your blog. AdSense & affiliate marketing are the best way to make money through your blog.

Only thing you need is a domain & hosting. Don’t create free BlogSpot blog because there are  many limitations and your domain name will look like “yourblogname.blogspot.com”.

I will highly recommend to go for GoDaddy WordPress hosting as it’s very affordable, easy to create blogs, has number of benefits & you can get a free domain with an annual plan.

2- Train, bus, air reservations:

Booking train, bus, airline seats were earlier the privilege of travel agents. Anyone equipped with a smart phone or computer connected to the Internet can now offer this service. Apps provided by Indian Railways, various state owned road transport corporations and airlines make it easy to book from anywhere.

Migrant workers, reluctant to enter plush travel agency offices or wait in long queues to reserve a ticket willingly pay a few hundred rupees for a confirmed seat. The business can be handled from home or if needed, any space such as a park. You are required to pay with your credit/ debit card or net banking facility.

There are many travel agents who has become rich in no time so this is what you can do if you want to get rich quickly.

3- Walking tours operator:

Walking tours is a concept gaining ground in India. They involve taking a group of foreign tourists on a walk in a specific area that has high concentration of tourist attractions. Walking tours are fun and generally patronized by foreign tourists.

Such trips allow foreigners to get a first-hand feel of the place, indulge in bargain shopping, take in tastes, sights and sounds of the area. Walking tours are offered through travel agencies or booked through portals offering entertainment services.

4- Food Trucks:

A couple of years ago, Indians would have balked at the concept of food trucks. Popular in the US since over 200 years, food trucks in India involve relatively smaller investment- between Rs. 500,000 to Rs. 800,000.

They fork in huge profits. Food trucks are usually self-operated. They are parked at specific venues such as beaches, business districts, during the day and evenings. Food trucks require fewer licenses compared with restaurants.

Running a legit food truck needs permits and licenses from local authorities and strict compliance to Food Safety and Standards Authority of India. You can read this food truck guide on MoneyConnexion if you want to start this.

5- Taxi fleet owner:

The boom in cab aggregators in India has made it profitable for people to own cars and lease as taxis. Major operators in all Indian metros are on the lookout for people who can offer one or more passenger vehicle and a driver, for use as taxis.

These aggregators offer a fixed amount per day plus share profits. In any case, your returns are guaranteed. Vehicle finance is relatively easier to procure since it involves direct mortgage.

6- Collection agent:

This is also one of the best ways to become rich fast in India. Almost every service provider, bank, corporate house looks for people to collect their cheques and payments from clients and business associates. The job also involves timely delivery of bank instruments to customers and companies.
The service is offered free of cost to customers by telecom service providers, utility companies, financial institutions and banks, among others. Working as a collection agent for these organizations is lucrative. It is worth nothing that collection agents are different from debt recovery agents.

7- Address verification services:

Telecom service providers, credit card issuers and several other companies require physical verification of a customer or business associate’s address. They outsource the work to individuals or small enterprises willing to exert that extra effort. This work involves visiting the person’s address or enquiring with neighbours whether the person dwells or does business from that premises.

8- Accommodation services:

Geographical relocations have surged in India thanks to economic boom the country is witnessing. Millions of fresh graduates, experienced professionals, skilled and unskilled workers migrate daily to various parts of the country in search of greener pastures.

Converting an apartment or house into a mini-hostel or labour camp assures you of sizeable, fixed monthly income. Deposits taken from tenants can be invested in banks to earn interest.

9- Psychological counsellor:

Mental health continues to take a backseat in India. Taboos over visiting a psychiatrist continue to rule high. To overcome this self-imagined block, graduates in psychology are offering counselling services to everyone from students to elderly. Fees are charged per session, which usually spans 30 minutes to an hour.

The service can be offered from home, a small office or from a medical clinic/ hospital. Please note that psychological counselling is different from psychiatric counselling. The former can be done by persons who have passed Bachelor of Science with psychology as major. Psychiatry, on the other hand, is a very specialized medical branch that requires a Doctor of Medicine (MD) degree.

10- Herbal beauty products:

Indubitably, this is a very competitive sector, with corporate giants battling for a slice of the market. Despite, a sizeable portion of the market is available for entrepreneurs who can offer fresh, home-made traditional beauty products.

Such herbal beauty products cannot be stored for large scale commercial marketing. They are prepared and delivered based on orders only.

11- Tiffin service:

This is good option specially for women to become rich. India has one of the largest consumer-driven economies. Meaning, people crave, strive for and buy superior consumer products during their life-span. Rising living costs have rendered imperative for couples to work.

Small families with both working spouses and single workers seldom have time and inclination for cooking meals.

They subscribe to what is commonly called ‘tiffin service’ in large cities. Providing a full, packed lunch or dinner with home delivery service is a great money spinner to begin from home or a small kitchen.

12- Photo/ artefact restoration:

Tropical climate in India plays havoc on old pictures and precious artefacts. Modern technology combined with artistic skills render it possible to restore memorable pictures that have fallen victim to vagaries of the weather.

Artefacts and family heirlooms also require restoration or facelift such as polishing. These services, though available, are rare in India and can be offered with ease.

13- Exotic meats supplier:

Taboos surrounding meat consumption, beef ban and soaring prices of traditional meat and poultry products do not match well with new found affluence of Indians. Acquired, refined tastes for meat also rule the market. Farming and supplying exotic meat including ostrich, wild boar, quail, partridge and others is excellent for those having time and space for the business.

14- Public relations agency:

The boom in new businesses has spurred breakneck competition in almost every sector. Copycat business models rule the Indian market. Companies wishing to retain their position or consolidate their brand look for public relations firms.

PR firms are tasked with creating a proper presence in the mass media, hosting events for promoting the company or its brands, interacting with journalists and other stake holders. Not all businesses can afford services of giant PR firms. Offering these services to smaller firms can be done from home or a small office.

15- Government liaison:

Despite best efforts of the government to reduce red-tape in India, bureaucracy continues to reign supreme. Getting fresh licenses and permits or renewing existing ones can be done online, but with limited agencies only.

Helping businesses to procure and renew these licenses is very profitable. You will require some effort to develop contacts with the right person in various government departments.

16- Food processing:

The vastness of India combined with poor handling infrastructure and logistics accounts for some 40 percent of raw food- including grains, fruits and vegetables- going wasted in India.
The Indian government has launched several initiatives including Food Parks where investors can open processing units to stem this colossal wastage.

Financial and technical assistance is offered by the government to investors willing to open food processing units. Canned, dehydrated and frozen food is a growing market in India. Venturing into this sector is a sure way of getting rich quickly.

17- Scrap recycler:

Everyone has seen the ubiquitous ‘kabaadi wala’ or rag picker, make rounds of garbage kilts and gutters to collect discarded plastic bottles, soft drink cans and myriad scrap. A typical rag picker plying on Mumbai streets for 12 hours earns a tidy Rs.600 to Rs.800 daily.

The reason: The scrap fetches high value in the recycling industry of India. With some skill, opening a scrap recycling business is very profitable and sure way to become rich in India. Recycled metal, plastic and paper are commonly used and in high demand in India’s manufacturing sector. Government loans, technical know-how and subsidies are offered to recyclers.

18- Funeral services:

Before screaming sacrilege, one needs to examine the reality. Last rites have to be performed on mortal remains of departed souls. Arranging hearse, funeral bier, flowers and other paraphernalia required to perform last rites are often extremely stressful for those who have lost a beloved family member.

Elaborate funeral services are offered by specific religious communities but these can be unaffordable to a bereaved family. A funeral service consisting of providing hearse, bier, arrangements at a crematorium or cemetery, getting flowers and other required paraphernalia is good business to become rich and even social service.

19- Chronicler:

A profitable venture for creative folk who possess extraordinary linguistic and writing abilities. Companies, large families, educational institutes and various other organizations look for chroniclers who are able to write their detailed history.

The work is very lucrative and assignments can often last several months. It involves digging into the organization or family’s history, tracing roots, documenting various landmarks and presenting in reader friendly, interesting manner.

20- Labour services:

This is not the same as a recruitment agency which requires a plethora of licenses. Providing labour services involves giving semi-skilled or unskilled workers on temporary or full-time basis on extremely short notice- less than three hours- to small businesses that have very high attrition rates.
Such companies include construction firms, security agencies, restaurants, pest control providers and motley others. You get paid the equivalent of a day’s wages as commission per worker provided. Profits can be well imagined considering casual labourer in cities such as Mumbai get Rs.600 as daily wage.

21- Stocks and commodities trading:

Every sector in India is booming: manufacture, infrastructure, defence, telecom, finance and lot more. Trading in company shares is a legitimate and sure way to become rich in India. Trading in commodities such as gold, silver, crude, are also gaining momentum.

Short, one-day courses that offer training for dealing in stocks and commodities are available across India. You can trade in stocks and commodities directly or through reputed brokerage firms.

Get your check-list first

Before embarking on any get-rich-soon venture, it is advisable to prepare a check-list of what you require. Some of these businesses may require bank account, tax and other registrations and permits. Without these, your enterprise can be termed illegitimate and you may be subjected to stiff cash fines. Serious breaches of law can end you in jail, despite innocuous nature of the business. With proper documentation, limited resources and a fair degree of enthusiasm, you too can strike it rich in India.

Too many people out there are offering ridiculous ideas on how you can become rich. Many of those ideas are about cutting back.

I can promise you that will not get rich by skipping your daily latte.

Look, if you don't have income, then there is no money to save. Don't let anyone give you the idea that you need to skip your Starbucks coffee and save $5 a day and that will somehow turn into a fortune.

Maybe you can skip spending $5 at Starbucks every day and save $10,000 over the next five years, but if you think $10,000 is going to change your life, you're not just broke, you're being stupid. Of course you should spend less than you earn, but if you make $50,000 a year with a couple of kids, what money is there left over to save?

If you are serious about getting rich, you need to get your mind focused on income. Increase your income enough and you will be able to save something substantial.

Here are five non-fiction tips you can use that will actually get you to millionaire status:

1. Invest in you
Successful people invest time, energy, and money in improving themselves. A man told me once, "The best way you can help people in need is to not be someone in need." Help yourself out so you are in a position to help someone else out. This means investing in yourself to become great at something.

I invested in sales training when I was 25. That made my income-producing ability skyrocket. Investing in yourself is the best investment you can make.

Use this trick to get rich, says self-made millionaire   

2. Find the right job
The rich are able to get in with the right company where there is opportunity for growth. My VP of sales Jarrod Glandt started working for me over seven years ago for $2,500 a month. Still, he was in the right vehicle. He grew his skill set and was able to multiply his monthly income many times over because he knew I was looking to expand.

Too many people just look for a job. You need a job, but you need the right vehicle. All companies live from this thing called revenue. Get commissions rather than just a salary and you will finally be in control of how much you earn.

Getty Images

Starbucks CEO Howard Schultz greets employees and others at one of the company’s locations in Charleston, S.C., June 19, 2015.

3. Get great at what you do
Commit to being great, not just average. Any industry can be a painful profession for average and bottom performers, but massively rewarding for those that are great. Those that live, breathe and eat their profession, those that are obsessed, become great.

I have never met a great who wasn't all in and completely consumed by their trade. Have you?
The fact is, if you aren't great, you are average. The rich get great.

Rich people use these 6 mental tricks to make more money   

4. Get multiple, connected income streams flowing
You won't get rich without multiple flows of income. That starts with the income you currently have. Increase that income and start adding multiple flows.
You want what are called symbiotic flows. Do not just add disconnected flows. Instead, find other ways you can add income to the job you already have. My video guy does advertising for me — and after proving himself, he started making advertisements for those connected to me. He didn't start a doughnut shop.
Too many people go from one flow to a second flow, resulting in two flows that do nothing. Your flows should always be connected.

"Saving $100,000 shows that you have an ability to make money and keep it. Most people can't do either."

5. Hit $100K, then invest the rest
First, try to save $100,000. Why? You need to prove to yourself that you can go out and get money. If you only have $10,000 saved, your only priority should be increasing your income so that you can save more.
Saving $100,000 shows that you have an ability to make money and then to keep it. Most people can't do either of those things.
Once you can earn and save, then you can start building wealth. I'd recommend multi-family real estate if you are conservative like me. I never looked to get rich quick, but I did look to get rich.

How to become rich in India fast: 5 amazing money saving tips to be wealthy

Can you, for instance, imagine how much money you will be able to make over 40 years by just saving, say, Rs 50 a day and investing that amount every month in a saving instrument that gives just 8% return per annum? Rs 1 lakh, Rs 2 lakh, Rs 5 lakh – any guess?

Money begets money – this is what is generally believed. In other words, this means that the more money you have and you invest, the more wealth you will be able to generate. (Reuters)

Money begets money – this is what is generally believed. In other words, this means that the more money you have and you invest, the more wealth you will be able to generate. This is also true, to some extent. However, this is not entirely true. For, it is not only the amount of money saved or invested, but also your wisdom and the propensity to save that makes all the difference!

Can you, for instance, imagine how much money you will be able to make over 40 years by just saving, say, Rs 50 a day and investing that amount every month in a saving instrument that gives just 8% return per annum? Rs 1 lakh, Rs 2 lakh, Rs 5 lakh – any guess? Nah, that is a staggering Rs 52.25 lakh, if the interest on your investment is compounded quarterly! Of this total amount, only Rs 720,000 is the principal amount while Rs 45 lakh is the interest earned. That is the power of compounding – “the eighth wonder of the world,” as described by Albert Einstein.
However, this is not all that easy do do. For this, you need a disciplined approach towards all your financial matters and consumption habits. Here we are taking a look at 5 easy ways that can be done:

Cutting Back on Eating Out:

These days many people, especially working ones, avoid cooking at home and love eating out. True, giving yourself and your family occasional treats or eating out sometimes is not bad. In fact, it has become essential in today’s world for many reasons, one being that it helps you spend quality time with your friends and family. However, eating out regularly is not only bad for your health, but budget also. If you are able to save, say, only Rs 1,000 per month by cutting back on eating out, and invest the sum in a product that gives you 8% return, then this will help you generate close to Rs 5.92 lakh in 20 years. If you save Rs 1,000 for 30 years, then this will become Rs 14.94 lakh and in 40 years you will be able to accumulate around Rs 34 lakh! Is it bad?

Paying Bills on Time: All of us pay various bills every month, which include phone bills, electricity bill, gas bill, credit card bill, school fees, and maintenance bill (if you are living in a society), among others. We are also aware of the fact we have to pay late fees if any bill is not paid on time. However, how many of us pay our bills on time? The fact is a lot of people pay Rs 500 to Rs 1,000 every month as late fees alone and they have no regret. The problem in most cases is not of money, but of laziness. However, even if you are able to save, say, Rs 500 per month by paying your bills on time and the same amount is invested, then you can make big money over the long term. For example, Rs 500 invested every month in a saving instrument which yields 8% return, can generate around Rs 17 lakh in 40 years!

Avoiding Impulse Buying: We all love to shop. However, do you often purchase something and then get it home to find you aren’t excited about it any longer? Or that you just don’t need it? It happens with most of us. Therefore, if you are in the habit of spending on impulse, make an effort to have a moment of reflection before buying anything. If you are able to save just Rs 2,000 per month and invest the same every month in a saving instrument which yields 8% annual return, then it will help you generate around Rs 70 lakh in 40 years and around Rs 30 lakh in 30 years!

By Quitting Smoking: We all are aware that smoking is injurious to health. If you are also a smoker, but are now looking to quit smoking, then try to keep aside the money for every cigarette that you do not smoke. If one cigarette costs, say, Rs 10 and you usually smoke 20 cigarettes a day, then you would effectively set aside Rs 6,000 in a month if you successfully manage to quit smoking completely. Invest this amount every month in a saving avenue which yields 8% annual return, and it will help you generate around Rs 2 crore in 40 years!

Taking ‘Spending Freeze’ For a Week: Another important way to save money and keep a quality budget is by going for ‘spending freezes’ or taking a ‘no buy’ break for a week. This means during such periods, you won’t buy anything new or go shopping. Exceptions to the ‘no buy’ time might include paying for medicines, food and emergencies that come up like someone getting sick. Save the money you would have normally spent during the day or week you are on the ‘no buy’ break and invest that amount by the end of the month. This will also help you generate a big amount over the long term!

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