Rules to Wealth building and Money growth

It is safe to say that most parents want to teach their children kindness, manners, and responsibility, and to impart knowledge on how to become self-sufficient and succeed in life. After all, no one plans on raising a dead beat. However, when it comes to the latter, very few adults actually accomplish this task. Why?

Because, as parents, we are limited to the experiences our parents passed on to us; the antiquated notion that to be successful is simply getting a job, saving a little money, and maybe purchasing a car or some equally important item, so pathetic.
There is more to becoming successful in life, and it is my hope these seven rules will open your eyes and help you teach your children to avoid the traps that have stolen financial success from so many people.

Wealth Building Rule 1: Find a Financially Compatible Spouse

Your biggest obstacle to attaining wealth is often found right at home: It's yourself and your spouse. Too often, people live their lives in a manner that is not conducive to creating real wealth and then get frustrated at "the system" when they only really have themselves to blame.

One of the most important financial decisions you will ever make is marriage (more specifically the person you marry and the timing of your marriage). True, love is not rational, but you're going to have an enormously difficult go in life if the person you expect to be there holding your hand is constantly frustrating your dreams, ambitions, and goals.

You want someone in the same boat you are, working towards the same agenda. If you are seeking an early retirement, he or she is there helping bring in extra income. If you want to stay out of debt, he or she isn't shopping behind your back or secretly making charges on a credit card you don't even know exists.

This isn't a new lesson. It's been around since the dawn of mankind: A house divided against itself cannot stand. A good marriage can radically accelerate your wealth building prospects.
Also read:  How to build wealth as a couple

Wealth Building Rule 2: Recognize That Debt Is a Habit That Must Be Broken

With a few notable exceptions, debt is a form of bondage; a disease that enslaves the borrower. Although, an example, it is a testament to the power money has over peoples' lives. Imagine your life without owing anyone anything; your car, your house, your education, all paid for in full. Like what you see? When you want it badly enough, you will make extinguishing your debt your number one priority. Does that seem impossible? It shouldn't be. Just take a bold step and broken the jinx.
Also read: How to manage debt of any size

Wealth Building Rule 3: If You Don't Like Where your Parents Were at Your Age - Do Things Differently

The old cliché that "insanity is doing the same thing over and over expecting different results," holds just as true today as it did when it was originally written. If you don't like where your parents were at your age, stop what you are doing. During your childhood, they taught you all they knew about money. For many people, these early years established how they feel about their finances today. In order to become financially successful, you must do something different than they did. Otherwise, you will end up exactly as they are.
Also read: Startup financial steps many ignore

Wealth Building Rule 4: When you Begin a Job, Look at the Pay of the Highest Employee

Whether you are looking for employment now or are thinking about it sometime in the near future, one of the most important things for you to do is to look at what the top-dog gets at any company for which you are considering working. This will give you an idea of how high you can expect to climb in terms of earnings and promotion. If the CEO is making $30,000 a year, you have no chance to make six figures. Select a job accordingly.
Also read: How to build wealth from scratch

Wealth Building Rule 5: Do Something You Love and Get Paid for It

I remember going into college and being surrounded with people who wanted to be artists, scientists, and businessmen, but instead did what their parents or grandparents told them to do. There is no honor in being a doctor or a lawyer if you wake up every morning and hate your job. Pick a profession you love and you'll never have to work a day in your life.
Also read: How to build wealth choosing the right love partner

Wealth Building Rule 6: Understand the Money Myth

Money is nothing more than a piece of paper with the image of a long-dead person on it. When you understand that any power it has over you is derived from your relationship with it, you suddenly become free from the constant pressures and stress of thinking about it. Especially at times such as these, if you are putting money away for ten, fifteen, or twenty years down the road, stop checking your portfolio every day! There is nothing you can gain from it except stress.
Also read: Basic steps to the right budget

Wealth Building Rule 7: Your New Commodity is Not Your Labor, It's Your Ideas

With the advent of the Internet and other technological advances, you are no longer limited to supporting yourself or making a living by your physical labor. The only limit you have on yourself now is your own imagination - your ideas are the most valuable thing you possess. Every man, woman, and child is a salesman for a living; if you don't own a business or investments, then you sell your manual labor to a company in exchange for a paycheck. Change your product. The gap between the rich and poor does indeed grow larger with each passing year, but not because of inequalities or any other such injustices. Instead, it is because the rich understand money and how to use it. Capital is literally a seed; learn how to plant it to produce the best harvest. When you do this, you will rule your finances, not the other way around.
Also read: How to build wealth from good stable network

More on GistWealth:

Wealth tips to success after graduation

How to build wealth from your hobbies

How to manage business risk

How to save for wealth

How to Kiss to boost wealth in your relationship