Some of the most effective piece of financial advices that I Learned over the years
Money is an important part of life. Its like water for fish, without water fish won’t survive and the same applies to the humans. We all know that money is like having a magical power, the more you have it, the more powerful you get and more options and horizons open in your life. These are some of the best pieces of financial pieces of advice that I learned over the years.
Having money in the bank is what allows you to take risks, build bigger ideas, and ultimately live a more fulfilling life. So, by any means necessary, work toward a lifestyle that allows you to save more than you spend.
Save 10 percent for yourself and invest back it in something to achieve something and become rich.
1. There are two things in finance management, one is assets and another one is liabilities. The person with more liabilities will lose and become financially unstable with time while a person with more assets will become rich day by day. Invest in assets and try to low liabilities.
2. Abundance in non-New Age terms means knowing that you have everything you need at this moment, no matter the challenges. It is objective.
Spend less than you earn. If you do this, you’ll be financially free.
3. Buy a small place rather than rent: this will give you peace of mind but know that renting is cheaper than buying.
4. In a free-market economy, anyone can make as much money as they want and the Internet is one of that market.
5. Your background, highest level of education, or IQ is irrelevant when it comes to earning money.
6. Expect to make lots of money. Think BIG: $100,000, $500,000, or why not $1 million? If you think more, you will plan and work more.
7. When you create incredible value for others, you have the right to make as much money as you want.
8. You’re not going to be discovered, saved, or made rich by someone else. If you want to be successful, you have to build it yourself.
9. Invest only in industries you are informed about or you will lose.
10. Create an automated income source that takes care of the fundamentals
11. Have multiple income streams (the more the better). This will make you stable in longterm.
12. If you don’t find a way to make money while you sleep, you will work until you die. Warren Buffet
13.Take a big risk with a small amount of money, take small risks with big amounts of money.
Hope these are helpful. I collected some of these advices from internet and some from books. Do you have any other amazing advice to share?