I've had my fair share of ups and downs in life... I started my teenage life at the bottom of the socio economic pyramid... but I worked my way up and on this journey I learnt quite a bit which I want to share with you in this short blog post.
I'm going to present with with the 4 most important lessons I learn over the last 18 or so years living, working, trading and so on.
Life is tough, everyone's got problems... but we only get one shot at it... we might as well go all in!
I trust this article will help you, and if it does... I will be rewarded as its purpose is to serve and assist.
1. Spend Less
There are many ways which you can apply to your life to spending less money... there are thousands of articles written on the subject which can assist you on your journey to save more so you can invest more.
Why do I say invest more? Well because no one ever got rich and wealthy from a savings account.
It is good to have a backup account, but there should be a limit to it, for example 6 months of living without an income... but why in the world would you let yourself go 6 months without earning any more?
So, spending less should have a purpose and that purpose should be to save and then invest the savings... and i'm not talking about forex, crypto, there are a million things you can invest your savings into and we will discuss them in point 3.
The first thing you should do is start saving all spare change, every cent. Put it away, empty your wallet at night and get all that change in a piggy bank, and keep doing that all month long. Then, whatever is in that piggy bank, deposit it in your account. Then repeat the process.
Below you will find a sheet which shows you what happens when you apply a challenge to savings... and anyone can do it, maybe not at the same numbers... but if you lower the numbers to what is logical to you then you can too add this challenge to your life and then invest the savings into a business, trading account, cryptocurrency or the other million things you can invest your money into.
"Do not save what is left after spending, but spend what is left after saving." - Warren Buffett
2. Earn More
Here is the hardest part... nobody is thought in school how to make money let alone earn more of it, so this will definitely be one of the hardest challenge of the 4.
One thing you could do is start a second job, a better thing you could do is become amazing at yours and get a raise.
If you have skills there are websites where you can sell courses and service to such as Udemy, fiverr and many, many more.
Saving money isn't the answer to being wealthy or financially free, earning more is the answer.
The best advice I can give you here is to get organized, put a plan together on what you can do right now to start earning more (and its not trading the markets, that's risky and has no guarantees, you need something with a guarantee)
3. Invest Wisely
Always keep your investing smart, goal-oriented and with an emotional purpose connected to it.
Figure out how much money you need to be financially independent. Then, divide that by the number of years you are willing to work to accomplish the goal.
For example: $1,000,000 in 20 years, would mean you need to set aside $4000 a month every month for 240 months. With only minimal interest and never putting any of the money at risk you would have well in excess of 1,000,000.
There are many things you can invest your money into, starting with financial markets, buying and selling things, and dozens upon dozens of ideas online and offline, all you need to do is find them... - and remember, diamonds are made with friction, and "diamonds" are everywhere and in every industry.
You've always have to take responsibility for your own investments, do your due diligence and proper reviews... onces that is done, you can then do the Ben Franklin decision making technique and make a decision...
All you need is a pen, a paper and your mind...
Here is how it looks,
As a final note on investing wisely, an important key to always hold in your pocket is to remember that investing is not buying lottery tickets, there are risks in everything we do, every single day.
4. Enjoy Life
Dance like nobody's watching... we only get one chance at this thing we call life. No repeat... so stop wasting your time, forget about yesterday, it doesn't exist and focus all your attention on the near future and on the ever lasting present.
The only day we should care about is today, pray for today and work hard so that tomorrow will be better. It is all in our hands, no one will come to your home and make your dreams come true or take care of your family.
You are the most important person in the world and your life is everything, and it will end so have some fun, work harder than yesterday and just make sure you do what you love and what brings out the best in you!
Remember this, Millionaires become millionaires due to focus, hard work, consistency, investing money, and passion for the purpose that drives them! - Make sure to follow suite!
Before I let you go:
I'm giving 100% FREE access to my very successful Udemy course "The Ultimate Guide to Successful Trading" to 10 people.
All you have to do is share this article on social media and add a comment below that you've shared it and I will make sure you get the access to the course!