Money Strategy

Your income is your greatest wealth building tool.
Sow/Give Some
Save Some
Spend Some

2025: Share, comment and Like.

That behaviour of enjoying but you don’t want to engage must stop on 31st December 2024😀

FINANCIAL EDUCATION

Kobe Bryant was an American professional basketball player (Mhsrip) who made $320 million in the National Basketball Association NBA . He invested $6 million in body Armour in 2014.

The Bryant family will receive $400 million from this investment. That single investment has earned him more than his when career earnings.

📌Pay off your dept: Many today are in bad debt and don't even care about their future because they believe in only living for today. Such people often say tomorrow will take care of itself. As long as they eat today that's it. The truth is tomorrow you might not have the energy you have today. Tomorrow you might not have the leg, hand etc because of an accident, how will you survive? I remember telling one of my helpers who seemed to have become playful some weeks ago that they will not always have the energy they have today. It is therefore important that they use it wisely so that even in her old age she will still be able to take care of herself

📌Work and invest: Many are scared of investing because their friends have lost money before. The question is have you even bothered to find out what caused their loss? Learn about the investment before investing. Warren Buffett said "Risk comes from not knowing what you are doing". Don't complain about your boss paying you a small salary and not do anything about it. Your boss's job is to pay you your salary and it is your job to make yourself wealthy. Albert Einstein said "Insanity is doing the same thing over and over again and expecting different results." As long as you don't do something about it, you will continue getting the same salary for years which is rarely increased because the employer will try to keep all costs low including your salary so take that risk.

While risk cannot be avoided, it can surely be minimised by getting knowledge and investigating before Investing. If you can surely risk riding in a car where chances of dying are 1 in 5,000 and knowing you only have one life, if you can take alcohol everyday which causes 4 out 5 deaths from liver disease, then you can surely invest some money. You may lose the money but what will be more important is the growth you would have acquired in the process.

Robert Kiyosaki said "Losers are people who are afraid of losing." If you keep waiting for your salary to increase, you will continue waiting till you retire because that increase that comes once in a while will be eaten by the compounding inflation." Do the right thing.

WARREN BUFFETT, one of the richest men in the world and most successful investor said:

If you don't find a way to make money while you sleep you will work until you die."

Warren Buffett's emphasizes on building cash generating assets that can produce income without requiring active work.

Having more source of income can shield you financially even when you are out of work, generating more cash flow to live well

You need to generate enough income to support your current lifestyle without requiring your effort.
You need incomes like investments, real estate, or businesses, others that can make more money for you.

Don't rely on your salary alone or single income alone but focus on improving your financial life.
Create a good money foundation, have a money plan and focus on the long term to lead a life of fulfillment.

Ref: Financial Freedom