The year 2022 is crucial for self-exploration of the mind and managing one’s finances while maintaining the freedom to do whatever you want to do in life.
For the world to change and create harmony for abundance for all, we have to be smart enough to earn while also growing the money.
This is a short article to inculcate the facts and figures for how to make everyone wealthy and wise enough to live a lifestyle in the next 5 years they ever wanted.
For having financial freedom, here are the insights to have you on the path to wise with money and growing it exponentially.
1#. Please say no to Credit cards
The credit card rising industry annually is a matter of concern because many people are indulging in the bad habits of debts and loans that they cannot repay on time.
Using credit cards regularly creates frictionless transactions (giving money without any effort or anything exchanging it with real money).
This makes people spend more and more money without expecting to grow income or save it a little bit more.
This spending is not wise and you can never be able to have financial stability if you get addicted to the use of credit cards.
This will lead many people to a miserable place to live and they will regret being in heavy debt without them knowing the interest rates of the loans they are paying unknowingly.
2#. Lame advice but you have to start early on in life
As mentioned, people who start early have an edge over time and money.
The combination of time and money together is powerful. Once you are wise enough to know this fact, you can never get poor. Know you know the fact- please remember and take advantage of these 2 aspects which I call the platinum of life.
Compounding interest is the 8th wonder of the world
This is true. Make compounding effect work on your money and after a certain time, your little investments and efforts will lead to your abundant life.
3#. Think and act with a future-oriented mindset
People who work by thinking or doing with future perspectives are more likely to succeed in life.
Believe it or not, god helps those who help humanity to grow and work towards future advancements.
Some examples can be Elon Musk (SpaceX, Tesla, Paypal), Kanye West(world’s richest rapper, work on future projects), and Late Steve Jobs (Apple, made technology more accessible for the future).
These rich and wise people are the inspiration for the world to acknowledge the fact for work towards the future and you can earn 10X more money than working now for your living. Start small but you can acquire big riches if you work towards it for a while.
4#. Try to manage your portfolio in your way.
Your money is your responsibility. do not give access to another person as everyone tries to snatch everything from everyone.
If you cannot manage your finances, give it to the financial managers whom you trust precisely.
If you have a large sum of money in your bank account, I would suggest giving it to the financial managers rather than managing it on your own.
The reason is that the Financial managers have a lot of experience and investment knowledge that they can grow your money more through investing in many schemes and portfolios.
That you cannot do it yourself as you do not have expertise in that field. You may end up losing money.
Be street smart and give access to a financial manager (if) but also keep an eye on your transactions.
Review your goals and plans frequently.
5#. Fear and greed with lead you to nowhere
Fear will lead you to your destination where you are not meant to be.
Greed will take to you to the place in your life where you will regret it later and may not be happy with your decisions.
Both of the factors are taking you away from your goals to be financially free and grow money smartly.
Fight with your fears and greed and remove it to see the change in your life, you never thought would happen.
6#. Be bold enough to take risks and increase your income
Risk is the other side of reward and vice versa. be bold enough to say to yourself,
I have to be rich and free from money aspects and live life on my terms. Money shouldn’t hinder me from doing anything I want to passionately do in my life. I have to grow my money fast and be free from it.
These affirmations have a profound effect on your personality.
Risks will take you to a challenging zone for a time being but will surely one day give you the benefits you always wanted in your life.
If you do not take risks in your early life, you will regret it when you get old enough and that is the worst situation anyone in this world has to suffer (read again)
7#. Learn from a good financial mentor in person or across the internet
Many finance experts have started their youtube channels just to teach and aware people of financial education. Learn from them, and take courses.
Apply them to your life and check the outcomes which come to you. Review and rewind to grow it. Build your wealth fast.
No one will do it for you.
Only you decide to be rich and street smart or live a simple and daily life working for money for years.
Purely you CHOICE.
8#. Remember to follow all the sure steps.
A little bit harsh to say – GO RICH OR GO HOME.
Learn from the good streams of knowledge across the internet and make your life easier and peaceful for yourself and your loved ones.