Simple Money Advice From Me to You In February
Figuring out how to never become a part of penury/poverty is the difficult of things when it comes to attaining financial freedom. Earning morning isn't a big deal, getting to the position where you are called rich or wealthy can be very difficult but can never be unpleasing as becoming poor after making a a very good sum of money and living large. One of the biggest fear of the rich is to become poor again, poverty isn't a good position and being poor isn't a class in the society that one will want to be associated with because you will understand the difference between comfort and struggle.
https://thumbor.forbes.com/thumbor/fit-in/1200x0/filters%3Aformat%28jpg%29/https%3A%2F%2Fspecials-images.forbesimg.com%2Fdam%2Fimageserve%2F1142073647%2F0x0.jpg%3Ffit%3Dscale Image Credit
One of the very best way to never become poor again in your live is to understand the difference between asset and liabilities. The fact that something looks beautiful doesn't mean it is an asset. If your wallet never increases even though money drips into it, then it is leaking via a place and that place is your liability. If you do not close the leak, there could be a problem with your finance. You should never allow what is costing you money to be more that what is making you money. At a point when people see you like you already own a lot, it is at this point that yo make it clear that you are not yet started, you didn't get financially free just to spend all you have labored for and become poor again.
If you now keep saving, you will be increasing your savings and not your income. Your income should be part of your day to day task to increase. A day with no rise in income is as bad as a day with nothing to eat. Be willing to grow your income every day for as long as you live. Be ready to grow your income and you can do this by growing a business, investing in stocks and so on.
Keep investing money into a single/several things so they keep growing stronger. The stronger they grow, the more money they make. Never invest in assets that cannot be easily liquidated, invest in investment that are easy to liquidate should incase you want to invest somewhere else.
