In Nigeria, there are two popular phrases people like to hear — “This man don make am o!” and then “Chai! This woman has made it in life!”

Everybody likes stories about success. And the good thing about achieving success is that it is not exclusive to some select group of people. Therefore, I make bold to tell you today that “you sef fit make am“.

But in order to make it in life, you need to heed the open secrets presented in this article. Some of them might seem very basic, something you’ve probably heard of before. But the taste of the pudding is in the eating. So, get ready to dig in.

What I’m about to reveal to you are the ideas financially successful people apply every day to make and maintain their wealth. Make yourself comfortable as we are about to begin.

Who are the rich ones?

If you want to spot the truly wealthy people, you may have to try a little bit harder. Why? The reason is because you might not find them driving the most expensive cars, buying private jets, or wearing a million dollar watch.

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Rich people are more concerned about making investments and consolidating on their wealth, instead of blowing it all away on wild shopping sprees and drunken nights. That’s exactly why they are rich in the first place. They don’t splash the cash around every chance they get. Instead, they allow their money to grow.

Want to find a financially successful person? – They are just ordinary people who work to create value, and then save and invest their earnings sensibly. They are people who live unassumingly and don’t try to show that they have it all. On the contrary, a rich person would prefer not to attract unwarranted attention. When they spend, they do so to make their life easier, not to impress themselves or anyone else. Don’t get me wrong, this doesn’t mean they don’t have a good time.

Ever wondered why some football or TV stars with 6 figure bank accounts suddenly go broke at the end of their career? Well, the answer to that can be found right here. Some people may ride fancy cars or live in big mansions, even though they are deep in debt. Soon enough, most of their earnings go into paying off debt rather than compounding.

 A Rich Person’s Secrets: How They Do It

The road to wealth is open to anyone who is willing to walk it. You might realize that you are already practicing the ideas that will be presented here. If so, continue on the path. If not, it’s never too late to start.

Here’s how the rich build their wealth and keep it:

1. They have multiple income streams

Rich people venture into any opportunity they find profitable. They don’t receive a paycheck and go to sleep. Instead, they diversify. They also have passive income, where they let their money work for them. For instance, through real estate investments.

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Multiple income streams don’t only make you richer, they make you financially secure, that no matter what happens, you have something to fall back on.

If you happen to work an office job from 8 to 5, and don’t have time for anything else, you could open a retail store where you only have to breeze in for inspections (it will pay you to have a trusted sales person in this case), or if you have the means, build a house and become a landlord. Just find any channel where your earnings can make you more money.

It’s a good idea to build yourself a decent private residence, but even wiser to have real estate that puts money in your pocket first.

2. They don’t always think about making a million bucks; but serving a million people

Value creation. That’s the phrase.

Why most people fail financially is that they focus too much on making money rather than on creating value. This is the reason why many fall prey to their own greed. In an effort to get rich, or get rich quick, they end up losing what they already have.

It might sound counterintuitive that to make money you’re not supposed to think about money… huh! But that’s just the fact.

Let’s say you are a business person and your purpose is to make a ton of money. You’d find every opportunity to squeeze every cent out of your customers; even cheat them if need be. The result? Dissatisfied customers. Even if you are not dishonest, you might remain stagnant at your current level.

But when your goal is to create value, you’d regularly brainstorm for productive ideas to serve your customers better, to make people want your products, or even how to reach a wider audience. You start becoming innovative. You hire experienced people and benefit from their skills and knowledge. The effect? You get positive reviews and word of mouth, attract more customers, serve better products and services, and before you know it, rise to the top of your industry as a leading brand.

Find ways to make people’s lives easier. Put your skills to work, create value, and money will flow.

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3. They live within their means

Don’t try to keep up with the Dangote’s and Adeleke’s. Live within your means, have a plan for your money, and spend only on things you can afford. Let’s assume you make 200,000 naira every month. You shouldn’t try to spend it all before the month runs out. Save half of it and live on the other half. Practice discretion.

This also means maintaining your belongings well. Be it your car, clothes, working tools, you name it. This way, you won’t always have to spend on new stuff all the time.

When you save up, you increase your chances of grabbing a wise investment opportunity whenever it presents itself. Also, when you face hard times, you wouldn’t have to run to your rich uncle for help since you’d have something to sustain you till things go back to normal.

4. They keep learning

Learning never ends for the rich.

Always find ways to improve yourself. Learn new skills and new ways of doing things. Your earning power is deeply rooted in what you can offer.

Without continuous improvement, you’re heading towards creative rot. Keep pushing your earning potential through education, training, and personal development. For some, this could mean going back to school or gaining that special certificate. It could also mean stepping out of your comfort zone and trying new things. If there’s something that you find difficult, but which can help you in your field, immerse yourself in it until it gets easier.

Investing in yourself will not only make you a better person, but also help you expand your reach and grow your connections.

In conclusion

You don’t need to make six figures from the start before you set out on your path to financial freedom. No matter how much you earn, take the first step today and start practicing the ways of the rich.

Editor’s Note: This article was written by Tobenna Nnabeze.