Three Things You Must Never Fail To Do When You Have Money

Filed in Business Guide, HELPFUL AND TRENDING GUIDES by on April 10, 2019 0 Comments

Three Things You Must Never Fail To Do When You Have Money

This article will be very beneficial not only to young people but also as well to elderly people who think they have miss the mark and want to still learn how to improve their lives.

Three Things You Must Never Fail To Do When You Have Money

Three Things You Must Never Fail To Do When You Have Money

Three Things You Must Never Fail To Do When You Have Money

Most often, when people have money, they get directed by their impulses and start a spree of spending that ends back in total bankruptcy and debt. And when they look back, they realize that the money was not actually used for anything meaningful. How can this be stopped?

This article has been written to address the vital issue of misplaced spending. As far as personal improvement is concerned, there are three things that shouldn’t fail to do once you are located with money.

I will look briefly at these things, you can do individual personal research on your own to get more information on how to better use them to improve your life.

In a nutshell, here the three simple but complex things you must never fail to do when you have money.

There are:

  • Investment
  • Savings
  • Buying of Books.

Life is too short to be lived carelessly. You must make maximum impact to be remembered by your generation, society and family.

Do not just keep money for eating food. Money has a spirit that can drive you to do stupid things. You might pass by a grocery store, just because you are with money, you may branch to collect a few things you do not actually need. That is the spirit of money.

Now briefly to the three important things you must do with money.

Investment

What is investment: I am not a financial expert, so I will not bore you with financial terms that even I do not understand.

In a lay man’s term, I will say that investment is to money what planting is to a seed. It yields. Investment is putting your money in a profitable venture to yield profits. In that ways, your money will not always stay the same but keeps increasing.

How and where to invest: this is the area I may fail to give you what you need since I this is not my authority. I will nevertheless tell you a few things based on what I’ve done and experience.

Some investments are risky ventures and may lead to a total loss of all your savings.

Since this is the digital era, I will advice that you invest on internet startups, or you can start a blog of your own. Learn a skill and convert it to a small scale business that can generate extra profit for you especially if you are a salaried worker.

I personally, I’m a blogger, graphics designer and web developer and these skills are giving me what I need. I’m living very comfortably. At least above the average level of most Nigerians.

The next thing you should never fail to do when you have money is savings.

Have Savings

Some people live their whole lives without having a set aside amount for the day of eventuality. Savings are like insurance. You are covered in case of anything.

Most experts recommend setting apart 10% of your earnings, but I usually make mine at least 20%.

Learn how to manage expenses as you persistently continue your savings habit.

How To Save Money Effectively:  Effectively saving of money is not what you learn in school neither is it what you learn in school, neither is it what you learn by reading too many books. Just use your common sense.

To effectively save money, you need one thing-the spirit of self control. Self-control is good not just for saving money, but for a whole lot of things. Self control is good in delivering from bad habits and addictions like being a spendthrift.

Buy Books!

Wow! This is even the reason I decided to write this article. Books are to the mind what clothes are to the body. Books cover and beautify your mind. As a man thinketh in his heart (Mind) so is he. What your mind is constituted of is based on what you read and that will form the fulcrum for your thoughts.

People who don’t read don’t go far in life. There are often stagnated. Why will you stay without reading?

By the way, you do not just read anything that comes your way; there is what I called guided reading.

Do not waste money buying things that do not profit you much. Cloths are good, but if you spend money on designer clothes, you will look beautiful and people will like your good clothes but afterwards what next?

I will recommend selected areas.

  • Spiritual life
  • Your field
  • Motivation and inspiration
  • Biographies and autobiographies of great men and women
  • Books written by experts and professionals in your fields
  • Blog posts, podcasts and Youtube videos
  • How to make Money
  • How to invest your Money
  • Business and Entrepreneurship

 

In fact read anything you believe will be beneficial to you. In the long run, you will become a man or woman of vast knowledge and deep insights. People will highly seek your brain. You can “sell your brain” for so much.

Conclusion

Do not misuse money; never use money for what will never profit you in anyway. Invest your money, save your money and buy good books to improve your life. Read good blog post on the internet like this one. Listen to podcast. Watch good videos on YouTube; do not spend time watching comic videos that profit nothing.

In addition, you can learn some good skills and invest your money there. Some good skills that you can learn and invest your money include:

Good luck as you imbibe this advice and take action on it.

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