There are 5 Money rules which actuallygetting forgotten by most of the people. The problem is people are so used to earn money and spend it, they actually forgot how they can use the money for their betterment. What we have to do is to change our mindset, stop chasing the money and get ahead in your life. We should not know how much is enough for us and not ovsess over it.
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1 - Don't Spend Money you don't have
This is the main rule, you should not borrow money and spend like its yours because you have to return it back at some point of time. For example, the best way to use Credit card is to use like Debit card because credit card is the amount which you borrow and it's not uours.
2 - Don't obsesse over money
Getting money is one thing and getting obsessed with it is another thing. We should not stressed out while earning money because then it's of now use. If your health or relationship gets spoiled because of getting obsessed with money then it's of no use.
3 - Understand the Money Game
The money game is simple, earn enough and then save good amount of money for the future and then use that for the expenses. Use the 50-30-20 rule which is a great savings rule to get started.
4 - Build your Cash Cow First
We all should try to gain some skills which we can use to get money. Like a small business or passive income, this is nothing but creating the cash cow which can help us the regular money. For example, if someone would have spend money and bought Hive, and powered it up, it will become it's cash cow because then you can passively earn from it.
5 - Put Money in Right Places
Saving is one thing but investing is other. We should invest in right places as per our risk appetite so that it will help us in the future when we need that money.
Bonus Tip
The more you learn the more you earn. This should be the mantra for everyone. Because when you gain a skill, you can monetize that skill as simple as that. If yiy know video editing, you can edit YouTube vidoes because that's a great option asof now and you will earn good too.
Posted Using INLEO
