If you are reading this, you might be wondering what I am here to discuss. It’s no news that money has its own rules and guidelines to follow. Financial stability is one major aspect a lot of people wish to understand or overcome. There are questions like. ’How can I make money fast?’’ or ‘How can I manage my funds’ whichever be the case, I am here to elaborate on 4 Rules of Money that could help manage and secure your finances.
1) SPEND LESS THAN YOU EARN.
Yes! Spend less than you earn. This stance might be almost impossible for me maybe 2-3 years ago before I was able to master the rules of money. I am aware that the act of spending can be ubiquitous in our modern life, I mean as a human being we have our basic needs to attend to, basic needs like feeding, clothing, shelter, health care, transportation and maybe entertainment for those who enjoy outdoors activities. In a case where you spend more than you earn, I would suggest a well-structured budget plan that would help minimize unwanted spending and also decrease debt. You need to be determined to be self-disciplined towards planning your finances. Give an account of how much you earn in a month or in a year and prioritize your basic spending, taking this measure can make your account not to be overdrawn on a long-run.
2) DON’T BE AFRAID OF MONEY
I am sure you are wondering what I mean by ‘’don’t be afraid of money’’. Ok, Money brings out some kind of emotions you thought didn’t exist in you. I have seen a man that got angry just because he was denied his money at the bank and I have also seen people that would jump with joy because of the same money. For you not being afraid of money, I can say there are levels to this. First, you would need to identify the cause of the fear, understand it and take charge of the money. I am in the school of thought that believes in manifesting your desires especially financial stability. This is one of the crucial 4 Rules of Money.
3) AVOID DEBTS
With the current increase in almost all consumable commodities, it is impossible to stay above water level without getting dragged down especially as an adult. And also, with the way the world has evolved you can buy almost anything at anywhere and even at any time with the help of a credit card which makes impulsive spending very easy. I would say don’t borrow if you are not sure of how you would pay pack, there can be exceptional cases where borrowing money isn’t questionable but if the purpose of borrow isn’t substantial, then it would be wise to think about it. I know it’s hard to overcome the temptation of spending too much especially using your credit card but the truth is that it would cost you more to pay back your debt so be wise while borrowing and spending.
4) INVEST YOUR MONEY
The old advice we all must have heard from our folks would be
INVEST YOUR MONEY TO GET A RETURN OF INVESTMENT BACK
wouldn’t be new to you. Having to invest your fund would be a very wise act as an adult especially when you are trying to be financially successful, this simple act has its own historical values on smart saving. I know how many successful people that are are reaping the benefit of today because of the decisions they made 5years ago. Investment opportunities like bonds and stocks investment, agricultural and livestock investment, real estate investment and cryptocurrency and blockchain investment are means of which people tend to tie their money down to give them a return in a fixed number of days. When planning your future before retiring, maybe you have a gap of ten years to plan, investing in stocks and another form of investment opportunity would be your best bet.
We are happy we could give you the 4 Rules of Money and how you can get to become financially free if you follow them. With that been said, have you referred a student today on Refer Wallet? If not, sign-in immediately, refer and increase your pending commission by $200. CIAO!