Five Stages Of Money You Should Follow
Money has rules if one would want to have it and have it for long. Money is one of the things that rules this world and like some people will say "Money is everything". Even though I would want to disagree with that statement, there are some truth to it.
Money can't buy life but it can prolong life, money can't buy a peaceful sleep but can buy you a bed, money can't buy happiness but it can buy any material things you need, money can't buy love but can ignite a love.
You can disagree or agree with me, that's just my thought on how powerful money can be even though it isn't everything. With such reasons, we see why it's important one follow the right steps to having money and having it for a long time.
Money has stages from some studies I've done. When you miss a stage, you might be getting pennies or nothing at all. But following the stages of money, one is bound to opportunities that would guarantee more money in the future.
Making The Money
Of course, the first stage would be making the money. Nothing is too small to start with. Get something started once an idea comes in, avoid procrastination. Money comes to those who utilizes their ideas to earn and also teach others to earn.
Don't be bent on making it big at once so that when failure comes in with initial trials, you won't fall back to poverty. Instead, start little but of course, you're free to dream big and add in the work to achieve it.
Saving The Money
I have a friend who has the mentality of "Spending as the money comes" and he has always had a time when he was so broke that he couldn't buy water for himself. Making money doesn't guarantee you to spend as you like and that is because money has stages you should follow to keep it for long.
Try to save more as you make the money, avoid going for things you don't need and instead, go for what you need... Others will come in later when money starts working for you. Spending freely when you're yet to gather enough money is you putting your future wealth to complete loss.
Investing The Money
This is one way to save your money if you would research very well before making any investment with your money. Your money should work for you and not the other way round but it needs to follow process "You've got to work for the money first".
Make the money, save up while you continue to make more then start making investments with your saved money... Money you don't need anytime soon, money after removing your self payment money and emergency funds (I'll write more about why you should have emergency funds soon). Invest with money you don't need at the time of investment till you get your profit.
Multiplying The Money
If you follow the other stages before this, this would just be a continuation because having more investments as you earn more money would mean you're multiplying your money. Money shouldn't be saved in a hole of no growth.
Try explore good investments adventure, grow your money to work for you and get used to you. Money stays with those who work hard for it, no doubt about that. Multiply your money by learning more ways to.
Maintaining The Money
This should be the easiest part if you follow very well the other stages but it can also be the most difficult part when money gets into one's head. A friend of mine would say "I have enough money to live life as I want, no need investing more". Another said, too much money can take away one's wisdom if not treated with caution.
Learn to maintain your money when you know you've earn so much already, no need to be greedy but maintain what you have and what you're earning... Your money will live with you.
These are the stages of money I studied, you might want to add something for me to learn from you as well... I'll appreciate that.
Thanks for reading!!!
Posted Using LeoFinance Beta