Increase your cash flow- finacial Independence

7 27

Becoming rich is a process, alot of people do not want to go through that process, they kept on procrastinating things , telling themselves lies as to why they can't do this or that now, by the time they would realize it that they have not done anything yet it would have been too late. Like we all know procrastination is a stealer of time not only time but also success. If you are ready to stop procrastinating or giving excuses why you can't climb the ladder of success then read on;

I will give you ways to increase your cash flow.

1.you can't save your way to wealth;

For some people saving their money is the only way to financial freedom,the only way to live life the way they want later. They hope that after they pay their bills from their salary,there would be enough leftover to keep in the bank but the real deal is that after paying their bills there won't be any money left to keep,and even when money is saved in the account it earns interest making it valueless, saving only provides an illusion of wealth. Saving some amount of money has to do with the mindset of the poor or better still a poor mindset because the rich invest their money ,they don't keep it to waste away but invest it to bring in more money/wealth.

2.make sure you pay yourself first from that profit;

Getting to the top requires discipline,to increase your cash flow you need to pay yourself first,to pay yourself first means when earning any money you leave out some amount to buy yourself some assets that will bring in income for you before even using the money to buy anything or giving it to someone. When they see bills and financial duty they need to meet they end up using their income to satisfy those needs and at the end they end up not investing.I have a boss back then whenever she gets a job to decorate she will first buy all the equipment she will need and after the job is done she will still buy more equipment from her profits before using the remaining profits for herself at all,she is really a rich woman now because she first paid herself,she kept buying assets that will bring income for her and now she's enjoying all the money, imagine she used all her earnings then to buy things that are not useful to her business or just squandering the money,she won't have become what she is today. Pay yourself first-buying assets that provide income means you are rest assured that come what may in the future your financial life is safe.

3. Widen your financial life;

Invest in different sectors, investing in one or two or different sectors involve risk,so its better you lower your risk of failing by investing in different things than increasing your risk of failing by investing in one business. To be successful involve risk so risk it well. The rich have investments all over different sectors because when one falls, another rises,so they are rest assured they won't go back to been financially unstable,but be educated about what you want to invest in.

4.stop living below your means;

Alot of people assume that when you live below your means it is the sure way to prosperity,it only gives you a poor mindset because when you see the luxurious things you want to buy but cannot buy you feel pity for yourself instead of you to work towards achieving them, you keep telling yourself you can't afford it,the simple word "I cannot afford it" shut your creative financial mindset because you have believed you cannot afford it but when you rather say "how can I afford it?" It gives you this mindset of what can I do? Then you start working towards achieving the things you can't afford before,you start to break limits to your financial life.

Thanks for reading 👍

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Comments

You know, I grew up with the lie that saving gives you more money to spend when you need it. But now I realize savings reduce your wealth. Why save when one can invest to generate more money?

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2 years ago

Exactly.... Instead of saving, investing it is the right thing.

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2 years ago

Already heard this advices but still, thanks for sharing this. This is a good reminder to all.

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2 years ago

Yeah... Thanks

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2 years ago

People should come over here and read. Great article

$ 0.02
2 years ago

Thank you 😊

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2 years ago

People should come over here and read. Great article

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2 years ago