How to save up, get rich and make your money work for you

There is no one way to get rich, but these tips are certain to help you have more money in the bank.

MANILA, Philippines – They say money can't buy you happiness, but it surely helps you be happy by taking some of life's burdens off your shoulders. If you're financially secure, you can enjoy life more and worry less about the bills, big purchases and other emergency expenses.

How does one get rich though? There are a million ways to answer this question, as we've seen from various rags-to-riches stories to anecdotes on individuals born rich but were able to cleverly manage their finances and make them grow.

There is no one way to get rich, but these tips are certain to help you have more money in the bank.

1. 

While it's amusing to think about the possibility of you winning the lottery someday, it's lazy to rely on luck, as it is more likely you'll get struck by lightning than win the jackpot.

Have a long-term goal in mind, even if you feel like you're too young to think about finances. Do well in school and prioritize your education so you'll have a clear vision of how you'll position yourself in the real world. Plot your career plan, and make sure you have enough experience to take on bigger jobs that come with bigger salaries.

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2. 

Saving money requires a lot of self-discipline and control. While it's tempting to spend your cash on the latest gadgets and the hottest trends, these purchases should be done in consideration of bigger, more important items that need long-term investment.

If you're planning to buy a house someday, you won't get there by living an extravagant lifestyle that satisfies your short-term want rather than your long-term needs. Cut back on your night-outs, keep your lifestyle spending to a minimum and only give in to your impulse-buying tendencies if you have extra money outside your budget.

3. 

Some people get rich because of the people who surround them. They may be your friends from college, your officemates or someone from your other social circles. These are driven individuals who will refer you to more fulfilling jobs, provide insights on potential businesses you can invest in, and give you tips on how to manage your money wisely.

Who knows, these people can also be your business partners in the future, encouraging you to invest in ventures that will make your money work for you.

4.

Finding the right item to invest in requires a lot of homework, because it's no small matter and relying purely on your gut won't cut it. Investing is a make-or-break moment that involves a lot of risks, so it's wise if you spend time studying which things are you willing to put your money on.

 The stock market is a good place where you can make your money work for you, but you have to be sure which stocks give you more bang for your buck and are most likely to weather the fluctuations in the international and local markets. Investing in your own house is also a good investment, as the value of property appreciates over time. Find a reliable developer with a track record of having projects whose values have doubled - or even tripled - over time.

5. 

Some people might not be aware of it, but a serious illness can make you go bankrupt. Unless you have a reliable health plan, hospital and medical emergency expenses can be a real pain in the neck. Not only can they siphon your hard-earned money, they can also bury you in debt. Being sick also takes away the opportunity to enjoy the things you've invested for yourself, sending you into a downward spiral of irony and frustration. 

Eat right, stay away from vices and make sure you get regular health checks.