How to live a financially fit life in the emirate. Picture for illustration purposes only.


How to get richer: tips from a billionaire and business magnate from Asia


No matter how little money you make, it is always possible to live well. Take it from business magnate Li Ka-Shing. The Asian billionaire started with virtually nothing. Forced to skip school before the age of 15 when his father died, he took up a job in a plastics trading company where he worked for 16 hours every day. Seven years later, he was able to start his own company. Now, he is considered the richest person in Hong Kong with a net worth of $28.8 billion.

“Life can be designed. Career can be planned. Happiness can be prepared. You should start planning now,” Li said. Here is a five-year plan to improving your financial status, based on Li’s principles in life.


For example, if you earn $2,000 per month, split that into five kinds of funds: $600, $400, $300, $200 and $500.

The first set of funds is used for living expenses. This means you have less than $20 a day to spend on food. To make sure you are within budget, cook your own meals that consist of two vegetable dishes.

Use the second set of funds to expand your interpersonal circle. Half of this fund can go to your phone bills. The other half you can spend on buying two lunches a month for selected friends. Always remember to buy lunch for people who are more knowledgeable than you, richer than you or people who have helped you in your career. When you expand and strengthen your network of contacts, your income also grows proportionately. Your reputation, influence and added value will also be clearly recognized.

The third set of funds go to opportunities for learning. Use it to buy books, or to attend a training course. Learn the lessons and strategies being taught. This will increase your knowledge, improve your credibility and help you meet like-minded friends.

Save the fourth set of funds to go on holidays. Reward yourself by traveling at least once a year. This will help you gain different experiences and will help you recharge so that you will continually have passion in your work.

The fifth set of funds is your investment. Save the $500 in the bank until you have enough money for capital. The capital can then be used to do a small business. Small business is safe. Go to wholesalers and look for products to sell. Even if you lose money, you will not lose too much. However, when you start earning money, this will boost your confidence and will help you learn how to run a small business. When you start earning more, you can then begin to increase your investment in the future.


You need to be able to supplement your main income. Going into sales is a good place to start. It is challenging, but it is the fastest way for you to acquire the art of selling and this is a very deep skill that you will be able to carry for the rest of your career. Remember, all successful entrepreneurs are good sales people. They have the ability to sell their dream and visions. You will also meet many people that will be of value to you in the later part of your career.


Try to buy minimal clothes and shoes. You can buy them all you want when you are rich. Try to avoid spending money on clothing, but buy a selective number of items that have class. Try to eat less outside. Practice discipline.


Maintain this balance and gradually you will begin to have a lot of extra money. You’ll have more friends and more valuable connections to allow you to be exposed to bigger projects and bigger opportunities. Soon, you will be able to gradually realize your various dreams, the need to buy your own house, car, and to prepare an adequate education fund for your child’s future.


When you are poor, spend less time at home and more time outside. When you are rich, stay at home more and less outside. This is the art of living. When you are poor, spend money on others. When you’re rich, spend money on yourself. Many people are doing the opposite.

When you are poor, be good to others. When you are rich, you must learn to let others be good to you. You have to learn to be good to yourself better. When you are poor, you have to throw yourself out in the open and let people make good use of you. When you are rich, you have to conserve yourself well and don’t let people easily make use of you.

When you are poor, spend money so that people can see it. When you are rich, do not show off. When you are poor, you must be generous. When you are rich, you must not be seen as a scrooge.

Once your livelihood is secure, use the remainder of your money to pursue your dreams. Make sure you live an extraordinary life!

The post first appeared in Chinese on E27. This article was translated by Edmund Ng CeoConnectz.


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