FINANCIAL WAY OUT
Finance plays a vital roles in our lives, infact it's the fundamentals and bedrock of our activities
Those that are rich know the nitty gritty of finance and simultaneously the poor neglected or pay little attention to it.
In this article I will show you ways in which you can follow(implement)to triumph as finance is concerned.
Below are the list of tested and proved ways to fight financial insecurity.
1. Have a multiple stream of income.
2. Make savings your best friend.
3. Live below your means.
4. Invest ⅔ of your income.
5. Cut off your expenses.
6. Pay yourself first.
7. Be discipline
8. Master the law of causes and effects.
9.Don't carry a blamming ego
10. Learn, learn and learn.
HAVE A MULTIPLE STREAM OF INCOME
The first task for a person who wants a financial way out is to have a multiple stream of income. Once income start flowing into your account then ,one can now think of any other things to do. Multiple income is the basic for financial way out. For instance a student can engage in selling of products both online and offline to boost his/her income. He/she can also embark on blogging or any other crative writing skills.
A housewife can also be a Medical advicer, Financial advocate or blogger in her choice of niche, educating people, rendering services to the populace. By doing these and others you are rendering a service or the other in which you will be paid for.
A teacher can also be a tutor in his/her field this is for both online and offline aspects
There is no limit on how one can perform except the limit you set for yourself (Brian Tracy).
By doing all these and others not mentioned in this article you are probably one step ahead others.
MAKE SAVINGS YOUR BEST FRIEND
After a multiple stream of income what follows is savings.
There is a popular saying (save as you earn)infact this is the best ,to save no matter how small it is. Saving leads to reigning.
There is nothing for someone who has nothing as savings no matter how little it may be. To meet the three motives for holding money, one must save extremely.
For instance, decide that you want to be saving a certain amount out of your income or allowance and stick to it, before you know it something huge is in store for you.
Don't deviate from this at least ⅓ of your income or allowance is normal.
LIVE BELOW YOUR MEANS
This play a vital role in finance. Expert in the field do monitor this. Train yourself to live below your means, this doesn't mean that you don't value yourself or you have low self-esteem but it mean you are disciplined.
INVEST ⅔ OF YOUR INCOME
Investment is the main differences between the rich and the poor. It keeps our money multiplying. However it has its own cons and pros. The best of it is that one should research thoroughly before he invest in anything.
CUT OFF YOUR EXPENCES
No matter how much you earn, how your return on investment is , how wealthy you are, if you lack this principle you will suffer. One can't do with expenses but one needs to play it well. To strike a balance between income and Investment you need to cut off your expenses.
PAY YOURSELF FIRST
This principle is the best and foremost,it work for those who practiced it.Pay yourself first in everything. From the great and ancient book "the richest man in Babylon".
We pay the food sellers,the provisional store,the network provider and clothes dealers but we forget and pay ourselves last.
Let put this principle into action and see how effective it is to pay oneself first.
BE DISCIPLINE
Another effective way to be Financially free is to be disciplined as money is concerned.
Discipline and detemination are needed to triumph in all ramifications( endeavors)
Self discipline is the ability to do what you should do,why you should do it,whether you feel like or not.
Bad habits are easy to form but hard to live with,good habits are hard to form too easy to live with.
The first and the best victory is to conquer self(Plato)
To become someone or achieve something you have never be before,you need to do what you have never done before.
Through discipline every difficult tasks seemed achievable.
MASTER THE LAW OF CAUSE AND EFFECT
Everything happens for a reason;for every effect there is a specific cause.
This means that for the fact that you want financial wayout there is a effect of arriving at somewhere whether to achieve your goals ,trying to get it or otherwise; anything that happens to us is the result of our thoughts.
Set a limit for yourself and stick to it,mere doing so you are building your financial wayout gradually.
DON'T CARRY A BLAMING EGO
It's certain that everything is not perfect.
Don't put your abnormalities on anyone else rather have it at the back of your mind that you are responsible for everything that happened to you during the long run.
People do blame government, parents, friends and relatives for their abnormalities but they forget that these people are just a page out of a whole text of their live.
Don't blame others, rather work hard to build that financial temple for yourself.
No one is to be blame for you life.
LEARN , LEARN AND LEARN
Among the secret to success is to be a continuous learner.
There was a saying "the day we stop learning we start dieing"
Learning should be our priority because it is a great opportunity.
To be financially free,to be a multimillionaire one need to be a continuous learners.
©Bello Tunde Idris
Accounting and Business Expert
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