Monday, January 12, 2015

How to become Rich while living in Saudi Arabia?

To ask someone whether they want to be rich is a very stupid thing to do. The reason is obviously because who doesn't want to? I'm sure that everyone will raise their hands up, including me. One question I would want to ask you is how can one become rich? Answer may be very simple. You can search on the Internet and find many different ideas and jobs, outright scams and schemes. You may also find jobs that require little or a lot of hard work, but then who would want to go for them anyway if you have easier ways right?

Before I proceed on to the steps I like to mention the basic things that I did observe regarding how to get rich instantly and that is by knowing how to master your money, mind and has a different perspective from the crowd. When I was a little boy I often came to hear this story about how people win lotteries and eventually end up poorer than how they actually were in the start. Once the money is gone all they are left to say is that money just slipped out through their fingers. One will eventually stay poor and will only be left to wonder where their millions have gone. Within money and mind mastery one and a different perspective, one will always be frustrated where the money has disappeared to.  Let’s start with the basic principles of money mastery;
  1. Know exactly what you spend on.
  2. Subtract what you spend on from what you earn from. This way you'll know exactly how much your money is spent.
  3. Adjust according to the results of your spending.

Now I'll give you a bit of tips and guidelines to help you regarding each of the three principles.

Knowing what you spend on
  1. The best way to master your money is to know exactly where your money goes. This means you should make sure what you are spending on what is important.
  2. Make sure that the important payments are made first like rents, bills etc.
  3. After that you may spend on things that are not so important.
  4. It’s always good to make sure that you know at what time of the month you are spending your money. Don't end up spending all of it at one time during the beginning of the month.
  5. There are a lot of apps that are available which can help you monitor your money. These apps can help you manage money especially when you wish to go full scale. This way you are able to share money with your partners even while being on the go.

Subtract your monthly expenses from your monthly subsidy or income
This is pretty simple. You simply subtract your expenses from your payment. There is not much that has to be taken into consideration here.

Adjust accordingly
This only takes in your brain to see exactly how well you can manage the rest. Once you know exactly how much money you have left, save it and use it wisely on things that may occur. It may be advisable to invest into successful projects. I hope I've provided you with enough basics for you to know exactly how to save your money and one day become rich *dreams*.

Useful Instructions
  1. Tips to Save Money while living in Saudi Arabia
  2. Guidelines by MOFA for Travelers of Saudi Arabia
  3. W*hat to do and not to do in Saudi Arabia – Complete Guide
  4. Tips by MOI for Saudi Nationals
  5. Tips for Expats coming for Vacation to Saudi Arabia


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