You need to do somethings different in order to get more benefits. Here are some of the most important action items that I have observed from my experiences. This will certainly enrich your economics and standard of life for sure.
Like a saying, you can't know the depth unless and until you step into it. So it is always better to understand and completely aware of your finances to know where all your money is going. At the end of the day, it is all about your money.
As you get into minute details, you will get to know what exactly you have been doing. So, I suggest you to take control of your finances immediately.
Divert your earnings as much as possible. Earlier I used to waste money whenever I see some extra money in my bank account and finally empty my bank accounts at the end of the month. So, I have started this trick of diverting my money to different savings accounts as and when I receive payments/salary. Thus, it prevents the wasting of money on unnecessary spending and cultivates me to invest on my future with that saved money.
It would be better if we can find out alternate sources of income, which can add up your balances. This way you can be more wealthy and can plan on investments
Always track your expenditures by maintaining the log and go through the expenses line by line and see where you can reduce or cancel it. I have started doing this and observed a great benefit after learning that I spend a lot on unnecessary things. This way you can cut your expenditures by minimum of 10%.
Like we say, moving with intelligent people will better your IQ levels, the same way you will become the average of the people you spend with. Even your standard of living will change a lot if you start hanging out with rich people. No matter you spend more sometimes but the advantage would be you learning new and awesome things that you were unaware for all these days.
1. Be Aware of Financials involved
Like a saying, you can't know the depth unless and until you step into it. So it is always better to understand and completely aware of your finances to know where all your money is going. At the end of the day, it is all about your money.
As you get into minute details, you will get to know what exactly you have been doing. So, I suggest you to take control of your finances immediately.
2. Divert your Earnings
Divert your earnings as much as possible. Earlier I used to waste money whenever I see some extra money in my bank account and finally empty my bank accounts at the end of the month. So, I have started this trick of diverting my money to different savings accounts as and when I receive payments/salary. Thus, it prevents the wasting of money on unnecessary spending and cultivates me to invest on my future with that saved money.
3. Finding alternate income sources
It would be better if we can find out alternate sources of income, which can add up your balances. This way you can be more wealthy and can plan on investments
4. Cut your expenditures
Always track your expenditures by maintaining the log and go through the expenses line by line and see where you can reduce or cancel it. I have started doing this and observed a great benefit after learning that I spend a lot on unnecessary things. This way you can cut your expenditures by minimum of 10%.
5. Be with Rich People
Like we say, moving with intelligent people will better your IQ levels, the same way you will become the average of the people you spend with. Even your standard of living will change a lot if you start hanging out with rich people. No matter you spend more sometimes but the advantage would be you learning new and awesome things that you were unaware for all these days.
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