How to be financially balance have appeared to be an impossible course to some persons. To some again its like a curse. while most of this category believe someone somewhere is behind their predicament of being poor; forgetting that money itself is like a spirit, it controls you when you can’t control it.
The year 2019 might have been a challenging year for many you, especially when it comes to meeting needs and having a good investment to become wealthier than your current status, I can assure you that you can get better in 2020.
Research has revealed that 70% of the population across the country is getting poorer every day because people spend more than they earn and such never invest.
Lots of funds have been wasted buying the things that we ought to have produced by ourselves.
To help you have better management of your funds in 2020, the below information can make you even richer in 2020 than you can ever imagine.
Here Are Five Major Steps To Take
1– Find out what you spent most on in previous years
A lot of people spend, waste resources on things that do not matter in their life at a particular time and season. Whatever comes their way, they just take from their little earning and thereby instead of investing, spent the little token they earn and reduces their chance of getting richer day by day because of outrageous expenses.
You need to take a time out and outline those things that you have spent money on in 2019, how relevant are they to you? are you supposed to have spent on those things in the first place? are they adding to your burdens now or they have added value to your life investment? If the answers are NO, then think again and strategize.
2- Find out which of those things you can do by yourself and save
As outlined above, there is a number of things one can make out by himself or herself rather than buying them elsewhere. For example, instead of buying restaurant foods and eating junks outside as a meal, you can make out a good meal at home with that huge sum and thereby save the remaining for investment; (make your own lunch instead of eating out).
3- Invest what you save from doing things by yourself – Don’t save it
It is not enough to save money for future use, it will profit you less than investing it in something profitable.
In as much as saving is good, it is also better to know that when we save, especially in our bank account, at the end of the whole story we get minuses from the money we save the most time. By the time bank applies there month-end transaction charges, you get to discover that you have lost rather than gain, except its a share you have with the bank.
Invest the little money you save from doing things by yourself, including that money you saved from denying yourself of extravagant lifestyle when not necessary.
4- Avoid the Mistake of having One Stream Income
Relying on one stream income is the biggest mistake most people make that denied them of reaching their goals in life.
If you are a salary earner, try and invest part of your earning into a petty or standard business that can earn you extra income pending when you receive your monthly salary.
Most time you see salary earners running from pillar to post before month end to seek funds in meeting their personal and family needs just because their income is not enough to sustain them through the previous month before receiving another.
Out of the little salary you get at month-end, invest little into something productive that can help you meet immediate needs and saves more for expansion. Be wise, stop eating up your salary.
5- Avoid Influenced by Other Poor People
It is pitiful that many people fail to realize the influence their reference group has on their destiny.
Zig Ziglar once said and I quote; “you can’t be flying with the eagles if you’re scratching with the turkeys.”
If truly you are serious and determined to attain financial freedom, then it’s essential you surround yourself with specialist financial advisers.
Associate yourself with people who are already above you, and that have related goals to yours or even far above yours. You also need access to people who are financially free.
Learn from them, make them your model. Imitate them, success always leaves clues.
There is a common saying that says “birds of a feather flock together.”
You can begin today to choose to surround yourself with financially free people. And I assure you that the year 2020 will be a better year for you when you learn and apply these things.
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