25/07/2020
8 Steps to getting rich
1. Put money in money market or capital market instruments. Currently treasury bills in Zambia have a very high return ... You can also invest in businesses. If you have no idea where to put your money in, observe where foreign nationals are investing in. That s where the money is. Sometimes it s difficult to see opportunities in your own country. It takes foreigners to see that...
2. Save money for retirement. Don t just depend on NAPSA or your employment pension fund. Develop a habit of independently saving for retirement. The excess savings will be very useful. Most insurance company are offering products that resemble pensions. Invest in one...
3. Invest in real estate. This will guarantee that you never rent again and can make money even when not in good health. Don t overdo this because the payback period is too low for this kind of investment...
4. Invest your time. We spend too much time watching football, at the bar during the weekends or chatting with friends. Use time preciously. If your friends or the activities you do are not rocking in money, move on. Instead of drinking on a Saturday waiting for your favorite team to play, why don t you go to the farm or plot or any side business to earn income? Most people moving towards success rarely have time for football...
5. Avoid purchases that are likely to depreciate rapidly. We can t to spend so much to keep being in fashion. Don t waste your money chasing for latest laptops, iPads, iPhones or Samsung phones. Skip two models. That will save you over 2 thousand dollars enough to buy even traditional land, put 10 cattle and some goats. If you don t have land but have the latest iPhone, that s a signal of poor planing. Avoid purchasing too many motor vehicles. Cars drop in value as soon as they leave the showroom or a new model is released...
6. Don't spend money on stupid stuff. It s not a must that you should have cable TV and unlimited internet at the same time. Just internet can do.
