How To Practice Being Wealthy
If you want to try before you buy, here are some ways to trial different methods to become wealthy.
Trying to set-up a website a few years ago was costly time consuming and you needed to be very techie to achieve it. Nowadays with access to sites like Wix, Yola and WordPress, the process of setting up the site is very simple.
If you would like to try your hand in the stockmarket, with the practice accounts available from people like bullbearings, virtualtrader. You can try to beat others or trial strategies you have developed.
To simplify thing you can play games like Monopoly, Cashflow, The Game of Life and Payday. These have some similarities between life and jobs, they allow you to interact with others and try different strategies to win the games.
Most of the board games are available online. If you have spare time but no-one is around then you can play against others around the world. This will show if there are any different play styles from different parts of the world you have not seen.
Either e-books or paper books contain information on wealth making practising techniques.
You can watch videos on most of the practising methods by searching on You Tube.
There are also several providers of open courses allowing you to learn different subjects without having to go to college.
Web Sub Domains
Why Would You be Able to Get a Free Website?
These types of website are hosted under the main website. They are classed as subdomains, they remain the property of the host. You cannot buy them like the .com or .net domain names. If you own a domain there is very little chance of getting free hosting, except where advertising on your site is allowed.
How Do You Get One?
Head on over to WordPress.com and signup for a free account. The registration is very easy.
The free websites are good for practising different layouts to see what you are happy with. They are very good if you want to blog about your life, but to monetise them and stay within the rules of the host may be difficult.
Why Would You Want a Website?
Learning how to develop a website enables you to run your own business based on the web. This allows you, with certain jobs, to be able to work wherever you want to. This level of freedom has not been available before and has allowed people from every corner of the world to participate.
You can learn how to develop web templates and websites to sell, you can run a virtual shop with drop shipping, you can refer people to purchases (affiliate marketing). You need to be aware that if you publish something on the web that the audience can be global.
Practice Trading Accounts
These accounts are free to sign up to. They allow you to start with a virtual amount of money, typically 10,000 pounds. Using the real(ish) (normally time delayed by 15 minutes or more) share prices you purchase shares and see your portfolio start to develop.
These account are useful if you are trying new strategies as they take the emotion out of trading, with it not being your money.
Depending on which company you sign up with the practice accounts may or may not take into account commissions and charges. If they do it makes it more realistic, allowing you to see the money you need to make for a profitable trade.
There are competitions held within the trading world to show off your trading system. These are held over a period of time and everybody starts out with the same amount of money and the person with the most at the end wins. Just remember you need to exit the trade to get any money otherwise it is still virtual.
Sites like stockbacktest allow you to use historical data and trial strategies over anumber of years. If you find a system which is profitable with historical data it is still beneficial to test it online with current pricing.
Games to Grow Rich by.
The Game of Life
Over the years there have been several games developed to try to help people simulate life. One of the first was the Game of Life, created in 1860. This allows players to travel through life, from college to retirement, having jobs, buying houses and having children. The Game of Life rewards people taking risks with a high random chance- dependent on the spin of a wheel or draw of a card.
Payday is played over a set time frame, decided by the players. you start with a set amount of money and try to be the one with the most at the end of the time period.
Like in real life if you run out of money you can take out a loan, or if you come across a good deal which you can’t afford. Loans are charged at 10% per payday.
There are mail cards and just like in real life these can consist of junk mail. You may also get money or have to pay out. This game is also very dependent on the throw of a dice. but then isn’t life like that?
Originating in the United States at the turn of the century, this game is about property trading. Players move around the board buying or trading property, developing their properties with housing and collecting money from anyone landing on their sites. The aim of the game is to drive all of the other player into bankruptcy leaving yourself as the monopolist. You can develop a strategy or you can just trust to luck. This game is dependent on the roll of a dice, along with chance and community chest cards.
Cashflow is a board game by Rich Dad , Robert Kiyosaki, where the players are started in the rat race. The aim of the game is to get out of the rat race and enter the fast track, buying businesses to accumulate $50,000.
Every player is dealt a profession at the start and this determines their expenses and income. Through buying various deals, being stock to build up money or housing to get another income, the players aim to earn a passive income greater than their expenses. You have a choice to move to the fast track once this level of finances has been reached.
Once on the outer track all of the investments from the rat race are lost and you start again with an amount of money determined by your exit from the rat race.
This game is slightly more realistic but is based on American property ideals. It teaches accountability with a finance sheet, allowing you to take out loans to buy deals, with interest at 10% rate.
You can try out strategies with the small deals and the large deals. Basic strategies are buying and selling stock, appreciation and leverage.
Books and e-books
Books and now e-books are available on every subject. If you learn by reading then this is the way to go.
Books are available on web design, blogging, affiliate marketing, programming, along with books on trading methods, options, forex and CFD.
There are books by Robert Kiyosaki teaching his methods of obtaining a passive income, such as Rich Dad Poor Dad, Why we want you to be rich, cashflow quadrant and second chance.
Online on You Tube are a lot of videos allowing you to be able to learn methods and techniques to make money online. Some of these are scams so if it appears to be too good then it probably is. Please be careful before handing any money over. If you are a visual learner this method of learning will be better than the books.
MOOC and MIT opencourseware
There is a new era of online learning courses which are available free. The courses available from MIT (Massachusetts Institute of Technology) opencourseware range from humanities to engineering. There are over 2000 courses available. These are self learning courses which can be started at any time. This method of learning requires discipline to read and learn from the untutored course.
MOOC ( Massive Online Open Courses) on the other hand are tutored free courses run over a period of time. They are taster courses, so are run over a few weeks. You are allowed to enter the courses and interact with other students taking part at the same time.
So there are a lot of methods to learning the ‘trade’ of being wealthy. If you have the right attitude and practice or learn about what you need to know, you will be more prepared to see the opportunities when they are presented to you – or you go looking for them.
So how are you planning to learn how to be wealthy?
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