Wealth creation has a standard formula which has been proven for many years, the Laws of attraction brings to you what you want in life, whatever you set your mind on the universe which is the unseen force would bring it to you, also over time there is an extremely simple formula that has worked for generations: live beneath your means and invest the difference. This is a simple formula that everyone should adhere to , while it takes much effort and discipline to live beneath your means, doing this would enable you achieve your financial goals within the shortest possible time, also it would help you avoid debts and inconveniences that comes with it.

Most people will think that living beneath your means is the same things as being tight with money and being able to purchase the things you need, you just need to be frugal i.e taking great care in all the things you do and control your spending. Spend on what you really need and not what you want.

Take Warren Buffet, world’s richest man for example, he can afford to buy any house he wants in the world but since 1958 he has lived in the same house he purchased for $31,500 in Omaha Neb. He can afford any house he desires but that is not important to him. Buffets frugal ways are not the sole reason for his riches. Although many people would not agree with this but It would work if only we try these formula.

1. Borrow: This is not money, but products that you are unlikely to use more than a few times. Before you buy, ask yourself if it’s possible to borrow the item you need. Many items such as books and language tapes all can be borrowed from your local library at no cost. A neighbor may have the tool you need that you know you’ll need to use only on rare occasion. Borrowing, when appropriate, can save a large amount of money.

2. Buy used: While there are some rare exceptions, you are almost always better off financially buying used rather than new. Whether it’s the books that you read or the cars that you drive, the price falls quite a bit the second that the item leaves the retail store. Today, with the Internet making the world smaller, it is easier than ever to find virtually anything that you need used. Getting into the habit of purchasing pre-owned products will save you thousands of dollars a year.

3. Never pay retail price: Before you purchase something, take the time to compare prices. If you do this when you do need to buy something new, you’ll never pay full retail price. With rare exceptions, a bit of price comparing can save you at least 20% and often much more on virtually any product or service. This is especially important on big-ticket items such as cars, home electronics and appliances. Doing so can mean hundreds of dollars or more in savings.

4. Forget brand-name products: Brand-name products — whether it’s food, clothing or anything else — have a premium price for the image they have created through advertising. You are paying the premium price for that image, not necessarily for a better product. Whether you have a $2,000 watch on your wrist or a $20 watch, chances are they both perform the function of telling you time pretty much the same.

5. Use credit only when you have money: If you believe that credit cards are for when you don’t have money, you are more likely to be a slave to debt. It’s important to use credit cards to your advantage, instead of having them be a financial liability. You should use credit cards only when you have enough money in your savings account to pay them off in full each month. If you don’t, then you shouldn’t be using them.

to be continued…………….


Filed under Liberation, Nigeria, Stocks and shares, unlimited power


  1. Hi!! I have got some valuable information through your site.Thanks for some wonderful info.

  2. Thank you and you are welcome…….

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