The simple truth about making money is that you need to set out a plan that will lead you to achieve your desired goals.
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Life changing goals are important because they helps us remain focused in the direction that we want to go. If we map out a plan for making money,we can achieve it through the goals that we set for ourselves.
This is where our goals can merge with the comfort and freedom that comes through the use of a digital piece of instrument called the computer. Today, apart from the computer, you have your smartphone and tablet.
All these gadgets take away the hustle of having to for example,
-Working for someone else
Doing more with your money to get more money
You can do more with your money so as to get more money. As always the purpose is to have an uninterrupted flow of cash day and night.The objective being that at all times, you must never be broke. Being broke, you'll defintely want to borrow money from,
The importance of having your own money
- wake up early in the morning
The early morning alarm clock ringing, reminding you to wake up and go out, is a thing of the past. Now, you don't need to get up early, to go to a physical location. This is where you'll spend your time breaking your back to get paid, working for a certain amount of hours during the day.
-face a towering boss
You don't have to go to work, with your heart thumping hard against your chest. Getting to work, knowing that you're going to face a commanding boss, will stress you out even before you start your daily chores.
Facing a boss like the one you have, is not what anyone would hope for. But if you are unlucky to work in such an environment with such a boss, you know what it can do to your mental health.
The two points mentioned above,
The two points mentioned above,
are just two reasons why lots of people focus their attention on finding ways to make money online. In fact, this passive income, has led to an increase in the number of internet users worldwide.
Experts predict that by 2030, every human being on earth will have access to the internet.It goes to show how much we rely on the internet in our daily life. But you might be asking, why the internet? One answer!
Convenience.
Convenience.
The ease at which you can get most things done at the touch of a click, without leaving your house or standing in long lines, is simply amazing.For example,
- Looking up information is easy.
- Making online payments and transactions is kid's play.
-You can use the internet to do your shopping,
-meet and socialize with others using social media and most of all,
-use it to seek way to make money.
This convenience is made possible by the fact that you can access the internet through hand-held devices, such as smartphones and tablets. And so it doesn't matter wherever you are in the world, as long as you have an internet connection,
you can access the world wide web.
With access to the internet,you can seek out online money making opportunities, wherever you are. But what does it mean to make money? The question looks simple and only needs a straightforward answer. And that is, that,
you have to engage in some form of activity to make money. But making money is more than just engaging in some form of activity. There is a whole process involved. This post will talk about,
The purpose of making money
The objective of making money
The four aspects of making money
Doing more with your money to get more
The importance of having your own money
Conclusion
The purpose of making money
The purpose of making money
There is a reason why as adults we strive to make money. And the simple answer is that it is with money that we can practically get anything done.This is the purpose why we work hard to make money on a daily basis,
essentially for survival.
Because it is with money that as adults we can buy a home, to put a roof over our heads.Then we have to eat, pay the bills, buy clothes to put on, etc. Doing all of this requires paying for them, one way or the other, either by cash or by credit card.
The objective of making money
Going beyond mere survival,you can pursue other interests related to making money.This will be your objective, which in essence, is you defining your need to make money. It could be about you placing interest in,
-having an emergency fund for rainy days,
-taking up life insurance.
-having more control over your life
-creating for yourself the lifestyle that you want.
When you understand the purpose of making money, and map out your objectives for making money, then you can pursue money by,
-Working for someone else
This means, having a contractual agreement with an employer, in which you offer to be available to work for a certain amount of time, in exchange for being paid an agreed amount of money.
-Running your own business
This is where you set up shop at a physical location or opt to open an ecommerce shop online. You fill it with products that people will buy and pay for. Running your own business can also mean you offering an essential service.
And so making money is really you doing some form of activity to earn that money. However, there are four aspects of making money which you must understand.
The four aspects of making money
If your understanding of making money is all about finding whatever you can do to bring in the money for a short period of time, relax and wait for another opportunity, then you won't get far in life. Because the whole idea of money making, can be viewed as encompassing both,
- the making of money,
- keeping the money flowing
- saving that money and then,
- seeking ways to do more with the money.
This whole idea of making money can be fully explained below in four points.
-First you need to start doing something to bring the money in
Start by engaging in some kind of activity that will help bring in the money. This could be a job that pays you a monthly salary, and if long term, better. By doing something long term, you know you have a steady flow of income at the end of every month. This income that is guaranteed!
-Secondly, you need to keep the money flowing
Once you have a guaranteed steady income flow, you need to keep the money flowing in. And so the objective here would be, to keep the money flowing so you never run out of money.
The fixed job guarantees a steady income flow, but how do you avoid being broke? This is the question you need to ask yourself.
To avoid cash shortages, you have to ensure that you never run out of money.This means that at any given moment, you must have money to meet your immediate or emergency needs, without going to borrow from the bank,family or friends.
To do this take on one or more side hustle jobs, to supplement your fixed job. This way, you have other streams of income that brings more money for you, so you are never broke.
-Third, save as much as you can
Sometimes making money might be easy, but saving that money for some people might be extremely difficult.This is because we live in a consumer society where products are constantly thrown into your face.
These are everyday use products designed to help make life easy. While it is good that such products are within easy reach, you do not need everything. Purchase the ones that are strictly necessary.
Buying something because it is described as cool even when you don't need it, is tantamount to throwing money in the bin. Save your money both for the present and for your future needs.
-Fourth, divide your money
Divide your money into separate accounts. This means that you need to have an account for savings, another one for expenses, and another account for your own personal needs.
Next you can decide to have another account to save money for investments purposes, say for example, to buy stocks, crypto, etc.Once you have seperate accounts, put money into these accounts and use the money in each account only for the purposes intended for each account.
So for example, you only use the expense account towards such things as rent, mortgage, bills, etc.Do not use it for your own personal needs, or to buy stock and crypto.
Doing more with your money to get more money
You can do more with your money so as to get more money. As always the purpose is to have an uninterrupted flow of cash day and night.The objective being that at all times, you must never be broke. Being broke, you'll defintely want to borrow money from,
-Family and friends
Family is everything, and it goes without saying that, whatever happens within the family, stays there. Are you always broke and going to meet family members for money just to stay afloat? If you are, then it's time you stop this habit.
Just as family can be supportive, they can also be destructive and this means that you become a problem to them once you keep on borrowing from them.
Friends can sometimes insult you. They may also look down on you with contempt.This, especially if they know that you are working,and have a monthly paycheck.
When you borrow from family and friends, it might make them questions your spending habits. They will try as much as then can to looking into your lifestyle to see where all your money is going. So as much as you can, avoid borrowing from family and friends.
-Taking out a loan from the bank.
Never take out a loan unless you are clear about how to make the loan make more money for you! If you have to take out a loan just to buy an expensive car or a costly smartphone, then you might just want to avoid doing that.
This is because once you are indebted, it impacts your monthly paycheck in a big way.First you have to pay back the agreed monthly rate plus interest. Secondly, you still have to pay your monthly mortgage/rent and bills,etc.
If you can avoid taking loans, do so and instead, save up for the smartphone or other items that you want to buy, and then pay for them in cash.
The importance of having your own money
The importance of having your own money is simply because you do not want to appear in the eyes of others as being some kind of a lazy person who is not willing to work.
Every person of adult age in every nation, engages in one form of activity or another as a way of making money. The goal is to make ends meet such as putting food on the table, and so on.
Having your own money is important because with your own money,
-You will not borrow from family, friends or take out a loan from the bank.
-You can make lifestyle changes, by improving your living standards..
-You can increase your knowledge by taking some educational courses.
-You are never broke.
If you are broke,
-people will avoid you or tend to take you less seriously.
-You are seen as being lazy.
-People see you as a failure.
-You cannot make the lifestyle changes that can improve your living standards.
If you are someone who is struggling to become someone, understand that you can only do that by having your own money. People view others using certain criterias such as education level, etc.
But being knowledgeable is one thing, knowing how to handle money is another. And people are respected more when they know how to handle money. This is because if you can among other things,
-control your spending
-budget properly,
you can save more money and do more with your money. After all the whole struggle in life is about having enough money to live a decent and enjoyable life.
Conclusion
if you are on a path of life where you are thinking of one day becoming someone with lots of money to live a decent life, start right now to understand money and,
if you are on a path of life where you are thinking of one day becoming someone with lots of money to live a decent life, start right now to understand money and,
- how it works,
- how you can make it
- how you can save it and
- how you can make it work for you so you make more money.
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