What will you do with $10,000, financial knowledge?
There was this question circulating watzapp around last week, the question was about what you will do if you suddenly found $10,000 and there were so many comments with some people saying they would take a vacation with a loved one, get their dream homes and all other things which really sounds like a good idea but in cases like this it is smart for us to think about the future before making any decision.
In a case where a thing like this happens, we need to first think about if we are going to applaud ourselves or blame ourselves for the decisions that we take. If we really want this money to yield a profitable return in the years to come then we must consider some of these factors which are:
Number 1, the ability to delay gratification.
When such amount of money is realized it is very tempting to spend it on the good things of life which we all desire but in order to maintain those good things and have them for a very long term, we need to be ready to make the great sacrifice of delaying gratification when it is required to make success, when gratifications are delayed it will be very possible for investments to be made rather than lavish spending to be done.
Number 2, the ability to make long term investment.
This second point is a buttress to the first point, long term investment is a thing for people who are patient and are ready to make the sacrifice that will get them the type of profit they want. With a fund like this, it is better to look for an investment that is guaranteed and just get committed to a long term investment plan over there.
Here are some really good things that must be considered whenever there is funds available and we are looking for a way to invest.
Investment in self.
There is nothing as great as being able to invest in yourself when you have an opportunity to do so, pay for that training course, get trained, become a professional at your own field of study and get trained to learn that professional course you have been longing for all the years.
Pay off debts quickly.
Even before you make investments with the money discussed I recommend that you look for debts that have very high interest rates and sort them out as quickly as possible. High interest rates can lead to pilling up more problems and it is always best to get them off from your neck as quick as possible.
Let me know friends, what will you do with $10,000 if you find one now?
