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7 Steps to get out of Debt and become rich

This Article we will talk about how to get out of debt and become rich. This is everyone’s first desire to be rich. But road to riches requires patience. This article is ultimate guide for you to get out of your debts and then become rich.   This is basic strategy and it can work for everybody. Without further delay, let’s begin. 1.        Calculate your Worth First step to achieve any goal is to calculate how much you are on your path and what is your goal. So, first step is to calculate your own worth. Below is sample format how you can calculate your own worth. In above format first enter all of your assets in respective Rows, and add them up, similarly enter all of your liabilities in respective rows and add them up. Your net worth is total Asset minus total Liabilities.   If this number is Positive, it is good sign that you have positive net worth, and if this number is negative, well this strategy is applied on negative net worth also. Let us consider a test cas
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Richest Man in Babylon

 The rischest man in Bablyon is one of my favourites to manage finances. Hi, This is salik and i am back with BooksBracket, today's book summary is "The Richest Man in Babylon" Richest Man in Babylon: A book written in 1920s tell modern investors about their finances’? a whole lot if it’s George clason delightful set of parables that explain the basic of money. This is a great gift for a graduate or anyone who seems baffled by the world of finance and a wonderful, refreshing read for even the most experienced investors.                                                                                                                                   - Los Angeles Times    This book dispenses financial advice through a collection of stories set 4,000 years ago in ancient  Babylon . The book remains in print almost a century after the parables were originally published, and is regarded as a classic of personal financial advice. These stories are told by fictional c

Financial Freedom

Hi, This is Salik, and in this post we will talk about Financial Freedom. Please comment your suggestions. it will be appriciated. Financial Freedom should be the first milestone of anyone towards happy life. it means you don’t have to work in by force; but by choice. You don’t have to do job for your kitchen but you choose profession of your own will and you can retire whenever you want. First step in financial freedom is to have multiple sources of income. Like you have to create multiple income streams, you can have house that give rent. You may have some business and day job. But you should have multiple income stream. 2 nd step is once you have the multiple income streams, prepare your reserve fund. This fund is for your emergencies. It should have contains your all expenses for atleast six months. 3 rd step is the safety for your self, make insurance for yourself or medical insurance. Incase you have any accident or mishap, it should cover for you. 4 th step is to star

Rich Dad Poor Dad by Robert T. Kiyosaki

This is the first book i have read on Financial Freedom and it is one of my Favourite. I am Salik. And this blog is for you to give insights of good books This book tells the story of a boy with two fathers, one rich, one poor, to help you develop the mindset and financial knowledge you need to build a life of wealth and freedom. This Book Tells the mindset of Rich and Poor and how they take decisions for money. Rich Dad Poor Dad Lessons Lesson 1: The Rich Don’t Work for Money Lesson 2: Why Teach Financial Literacy? Lesson 3: Mind Your Own Business Lesson 4: The History of Taxes and The Power of Corporations Lesson 5: The Rich Invent Money Lesson 6: Work to Learn—Don’t Work for Money   The Book in Three Sentences 1.     Rich Dad Poor Dad is about Robert Kiyosaki and his two dads—his real father (poor dad) and the father of his best friend (rich dad)—and the ways in which both men shaped his thoughts about money and investing. 2.     You don’t need to earn a high inc