It is only after being employed and realized of almost no saving from total wages for almost three years, I came to think the importance to set a goal for financial achievement. It has been three years that all my salaries seem to blow away like a wind. It only leaves the regret of having no awareness of money management. It is only that time I realized how important having a truly ultimate goal of having financial stability or goals.
Financial achievement is the ultimate purpose that everyone wishes for. It is true that money is not every thing but everything needs money. Just look at the moment you come to the expensive restaurant, you are surely not as happy as those who afford to buy every menu they want rather than you who have the problem with money thus opting the cheaper ones even if you desire the more expensive ones. That is how money is so decisive in daily life. Money is not an ultimate goal nor guarantees for success or happiness but the reality clearly explains how having money making all things easier for people.
But how to achieve that goal if only certain people afford for that?
Definitely every one of us deserves for financial freedom no matter what kind of job, position you have provided you have clear and well managed goal for your money. For it's a question of how you manage the money and never how much you can earn a month?
This means all of us have a chance to reach that goal even if we earn not much. Here are the things you have to bear in mind to manage your money well.
First, Identify your Income and life cost per month
The calculation of income and cost follows the month periods. So, you must know how much you earn each month from your job or from small business that you have built. After that, you have to write down all the expenses starting from you clothes, your daily meal, electricity bill and money others. And the rest of the money, 1/3 of it you can use for unexpected expense and 2/3 of it you can save in your bank account. For example you have salary 500$ and all your expense is 200$, so 100% is for unexpected expense meanwhile 200$ you can save in the bank. In a year you can have 2400$ plus the interest. Imagine without management, you won't know where the 2400$ goes just like what i experienced. Try to stick to that list of your expenses and never violate from this plan as you go through the months. This will make your more prudent money management attitude and acquiring a good habit.
Second, reducing your unnecessary cost and avoid bad habits that cost you much
There are priority scale for all your expenses. So all that are considered unnecessary expenses can be annihilated like eating in the restaurant, regular shopping, and money others. Meanwhile if you have bad habits like smoking or drinking, you should avoid from those and it will decrease significantly your life cost. On the contrary, those money from reduced expenses you can use to increase your saving. Imagine if every month you lose 30 packs of cigarettes and 10 bottles of drinks, estimately you will lose 400$ which you can save instead of costing for not good habit of yours.
The third, opting the simple life style
Life style is the personal choice for all. But do you know that life style can lead you to eternal poverty? It is true. The reality you can observe that starting from the choice of fashion, meals, people have their own choices or styles. In order to reach the success, avoid the luxurious life style, Avoid using the expensive brand of clothes, jewelry, expensive food because the spendthrift people almost never reach the success of life. It is because usually those type of person neglecting to save their money, worsenly they even have to debt or using credit card just for the need of life style. This is a danger. In order to bring your self in social relationship you just can be in simple life but your whim, neat is the right choice. Usually the successful ones are those who are just so simple in their life.
The fourth, say no to debt and free of credit cards
Debt is always a trouble for you especially if you don't care with the right strategy to cover them fast. The more you are in debt the more you are in misery to pay for its heavy burden of interest. The right advice if you are engaged with it, try to cover them as fast as possible rather than long tenor options, Usually the long tenor has bigger interest and this only makes a disaster for your plan of financial freedom. Or even if you are forced by condition to be in debt try to use the bank loan which has a proportional interest and has a clear regulation, It helps you to manage for covering and has a flexible procedure of payment suitable with your plan and income.
The other thing, a recent life style of using credit card is the dangerous virus killing slowly its users, It is because sometimes the users are mesmerized by easiness of it and forgetting the debt it costs in every transaction made. Credit card comes up like a ghost that makes you uncomfortable upon the deadline of its invoice especially facing the brutality of collectors that are truly the recent phenomenon.
The fifth, use your talents to build extra income that will turn to your mainstream income
Have you heard that people are more successful from their talent and not from their primary job. It is true, the founder of facebook, amazone, the spectacular businessman like the owner of KFC and many other examples get success after capable to use their talent well. This means that not only to look for the extra income by exercising your talent but also it can bring you to incredible success in your life. If you are an english teacher, you can teach for private lesson for the students until you manage to open your english lesson training which has numerous students. So it won't only the freelance for you but the main income instead. Here it needs your capability to foresee the opportunity to use your talent for a massive income stream. You can be a music teacher and opem your own studio. You can teach by means of internet and you have billions of students who pay for your skill. This is amazing of course, what you need is only to realize your capability and use it as the great threshold leading you to financial freedom.
The sixth, be a boss for you own
You reach this state after the saving money you have and deciding for the kind of business you have, It all begins from your realization of talent as i explained before, If you are good in marketing you can engage in franchise, In this case all you need is your own conviction and courage to start and sacrifice a thing for the sake of the greater one.
What do I mean sacrifice?
If you are an employ and you think you have already enough saving to start a business than sacrifice your job, quit and start for your business. Remember majority of successful persons are the businessman. This means unless you are a boss of your own, it is hard to be successful for you then, But it takes courage to take for a consequence of the probability ups and downs in business you are to run. But if you have a great conviction, it is just a matter of time that you are turning to be a millionaire.
The seventh, don't hold your money tight. investing it.
You can invest your money through various ways, You can run for property investment that always has promising high return, For example buying house than you can sell it in years later when the price is already multiplied. You can build dormitory and rent for it. This will give you regular monthly earning. You will just wait for the end of month that money will run to your account.
Besides, you can invest in obligations, capital market which has the least risk and money others
lastly, never forget to be greatfull to the giver of all you have who is your GOD. This is inexplicable, one of them is to be generous to the poor. The more you give the more you receive. This is unwritten law that truly takes place.
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