How to Effectively Manage and Multiply Your Money
How do you effectively manage and multiply your money? Making money is the easy part of wealth creation; keeping money is the hard part.
I will show you what you can start doing to manage your money and multiply it so that you can continue to grow rich.
You don't grow big to manage...well, you manage well to grow big. Let's dive in.
1. Focus on Cash Flow
Focus on getting a steady source of income either through a job, a skill, or a business. Just make sure that you have something that brings in good money every month.
2. Simplify Your Life
The next thing you must do is to simplify your life based on your income. Live way below your means and cut out any and every unnecessary thing that takes money out of your pocket. This phase is temporary and it is to enable you to build financial momentum.
3. Create 6 Different Accounts for Your Income
Investment Account: save 10% of your income in this account for investment purposes. You are only permitted to touch this account when you want to grab investment opportunities.
Play Account: Save 10% of your income in this account for refreshing yourself. The money in this account is for you to use to spoil yourself once in a while.
Long-Term Savings For Emergencies Account: save 20% of your income in this account for emergencies. The money in this account is to be used for health or any other emergencies that may pop up in your life.
Education Account: save 10% of your income in this account for your education. This money is to be used to grow your mind because if you don't grow then your income can't grow.
Immediate Necessities Account: Save 50% of your income in this account to cater for your immediate day-to-day necessities like food, shelter, transportation, and more.
Giving Account: save 10% of your money here to give to worthy causes and to help the less privileged. Some people might call this account their TITHE account.
Either you control your money, or it will control you.
The message of the day
As a child you had your life all figured out.
Go to school...
Graduate in flying colors...
Get a good job...
Get a decent and attractive partner.
Settle down...
Have kids...
Enjoy life...
But somehow... You haven't achieved most of these. Maybe because you're too focused on making money or because you're scared that you're working so hard and not seeing any results for your efforts.
Or you feel its powers from the village... lolz, that may be true but I doubt it.
Or you feel there are no jobs out there and you're waiting for a miracle.
What if you could get everything you want financially without having to look at your account balance first? What if you could put everyone in your family regardless of their size on a monthly salary?
What if you could generate wealth and money at will due to how learned you are in certain areas.
What if?... What if?...
All these are 100% possible but first, you must believe that you can achieve this without any single doubt and take the necessary actions towards achieving them.
