Many people want to get rich and become financially stable in the easy ways that makes them fall into different kinds of schemes and losing money.
Lots of people have a lottery mentality and just rely on some miracles to happen without doing anything. Spending an amount of money without knowing the risk will probably just a waste of your money and your time as well.
Lots of people think that winning a chunk of money will make all their problems just disappear. But without a correct investment mindset strategies, it will just make your balance disappear and make you start all over again.
In this article I will be sharing you the best strategies in investing your money in a proper way.
Disclaimer: (I'm not a financial advisor but this article is base on studies, experienced and research I've gathered).
Solid Investment Plan
Which will build you well overtime. Long-term invested will give right return.
There are many types of investment out there, and it's super easy to get distracted by a huge income platform and it's also confusing when someone telling you that it's the best platform to gain bigger and easier money and what you should do is to not get overwhelmed and distracted.
Don't get overwhelmed and distracted
Don't get so caught up with the latest trends.
Let's admit it, we are never gonna be an expert to everything. About consistently change in your investment strategy, you would probably end up with less money and at some point you're gonna make a big mistake. I don't disagree with experimenting, what I mean is to keep our investment very consistent over the years and to only invest into things we fully understand.
More disposable income
Of course we would be needing money to invest. The more money we have, the better. And the risks of taking a gain than a loss will probably risen up specifically because you have more funds to stake in an investment. And this is where the saying "Invest what you can afford to lose" is applicable. You must know to yourself the responsibility of securing your money on your own.
Increasing your income
You can increase your money by learning new valuable skills, having a side hustle or building a scalable business. You don't need to spend your money from your different jobs, you only need to focus your time to find a way to supplement and increase it. Make your time profitable and important and don't waste it to any nonsense tasks. More focus and more time means an increase of your income.
Keep your lifestyle in check
You do not need to be spending more of your money just because you are earning a lot. You should keep yourself low-key and you should also still enjoy the little pleasures in life. Stop wasting your valuable money to the things that doesn't serves as a needs in yourself and life. You can make some of the richest people in the world like Mark Zuckerberg or Ed Sheeran as an example for having their lifestyle in check even though the fact that they have a lot of money.
Pay off high interest debt
If you have a student's loans or a credit card bills, these are pulling you down. They are destroying you your credit score which ruins your ability to take advantage of good loan. Paying off this high interest debt first means you are actually saving more money than you ever hope to make elsewhere.
Create a freedom fund
Or you could call it an emergency fund that puts a power back in your hands. This freedom fund consist of 4 to 6 months of living expenses. This will protect you if you decide to quit your job as well as other situations like recessions, depression or even a global pandemics.
Money is very essential today in our society as it is the primary need to buy the things we want and need in our daily lives. Money can't be earn easily but can disappear instantly if we don't have a proper research and study on where we will be putting our funds. We are the only one responsible to whatever will happen to our money.
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