A very simple formula to get rich and powerful very quickly

Everyone wants to become prosperous for one reason or another, whether it is for status or to improve your quality of life and standard of living we can all try our hardest to become prosperous financially. First of all we need to take stock of what we have and start from there. Here are some steps I have outlined to become financially free - I am certain that if we follow them we can increase our prosperity.

1. First of all take stock of all your saving, debt and assets, this step is to see how much we have accumulated over our lifetime. It may surprise many people to find out they usually have more or less of what they think originally.

2. Take stock of all the skills and qualifications that you have, list everything and anything that you may class as a skill which will help you achieves something. Sometimes people sell themselves short and are unaware of their true wealth. Taking stock will make you re-evaluate whether you are reaching your full potential.

3. The equation for prosperity is simple. Save as much as you can and invest the proceeds wisely. This does not mean that you should starve yourself to death - just try and make some sensible cutbacks. What I did was list all my income and all my expenses. I then cut back on all my non essential spending and was able to save a significant amount. These things were magazine subscription that I never read etc, etc.

4. The next step is to take each item from your expenses and see if you can find a better deal. Start with your energy provider and use comparison sites to see if you can get a better deal. If you have lots of credit cards try to consolidate your debt at a better rate. If you have a mortgage try to see if the rate is up for renewal as interest rates are at record lows so it would be advantageous to cap at today’s rate. If you can maximize your savings on each of your expenses you are able to save even more money.

5. The next step is to get the best out of your money, asses how long and how much you can tie up into a savings account. The longer the period the better the rate we can get. The better the rate the more money we can make.

6. Now look at your income. First start with your earnings - see whether you can find another position which pays a greater amount. See whether you can supplement your income using the assets you have at your disposal such as renting a room or making additional money using the internet.

If we can follow this general formula and maximize all the points then we are sure to be on the road to prosperity. Its a simple formula that I've used to get rich!