- Talk to your role models.
- Have a purpose and not only dreams.
- Watch out your lifestyle.
- Keep your debts under control.
Every time I see someone driving a Porsche, two things that disturb me the most – “How he did and what he did.”
I always wonder how come a few people are exceptionally lucky with their financial matters? The one who is making good money must be doing something extraordinary. But, the point is, we all want to live life king size and the problem is not many of us know how to make it happen?
Crime and big money; these two are interrelated. But, if you think, every rich man is doing illegitimate things at a large scale, then you are wrong. Here are a few fully functional tips to make money.
1Talk To Your Role Models
Seek an advice from a person, who live the life you want to live. Learn from their expertise and help yourself with better financial decisions.
It is good to have some tips from a colleague, who is already doing great with investments. It is not about following his idea of making money, but the logic is to judge whether that idea works for your or not.
2Have A Purpose & Not Only Dream
It is about having a purpose in life and not only about financial considerations. A lifestyle means the way of living, whereas financial targets are nothing but money.
One purpose of life is to find out the real cause behind every “why”. If you really want to live life king size, you need to learn how to set financial targets. If your targets are realistic, then only you can achieve those.
3Save Money For Bad Days
We all know that wealth is not measured by how much you spend, but how much you saved.
Therefore, work on some strategies for savings because you don’t need one for wasting money.
The choice is all yours! You can save or you can beg.
It is up to you; you can either spend everything you have on the salary day or you can keep some money aside for retirement. If you invest in increasing your wealth, you’ll be able to retire earlier and fulfill your dreams.
4Watch Out Your Lifestyle
“I don’t know where my money goes?” Are you the one, looking for an answer to this question? The answer is with you; hiding somewhere in your spending graphs.
Look at your bank statement and find out how you spend your money.
You will be able to find that you have spent twice as much money than your monthly salary. Expensive lifestyle can prevent you from saving and building your wealth.
If you think you are going to save some money after the next salary hike, then it is never going to happen.
5Grass On The Other Side Is Always Greener
Live the dreams of your own, not someone else’s.
Do not copy your neighbors because for that you may have to spend every single rupee you have.
Be little wise and have some financial awareness. You should spend your hard-earned money on things that you cannot survive without and not on the things that you want to use as a showcase.
6Control Your Expenses
Reducing your expenses is a more powerful tool than revenue growth.
It’s great to live life king size, but if you cannot save more, then your financial situation is not going to improve.
Do keep in mind that cost cutting is always easy than making additional money.
ALSO READ – Financial Mistakes That Rich People Do Not Do
7Keep Your Debts Under Control
Life is easy on credit cards, but only to an extent. Debts are going to blocks your way to happiness.
It is important to understand that availing loan for maintaining your lifestyle is the first step towards financial stress.
I am not against easy monthly installment schemes, but try to finish the installments at the earliest possible.
Borrowing a loan is not a problem. As long as you make smart choices for loans, they can be of great help. However, do not spend more than your ability to repay. Avoid long-term debt.
Watch closely, and you will realize that most of your dreams have a direct or indirect connection with money. So, if you are not taking your financial matters seriously, then there is nothing wrong in saying that you are not taking your dreams seriously.