Money, plain and simple. Earning it, keeping it, and growing it, is easy! Money is all around us and touches all aspects of our lives. Yet, for many of us, it still eludes us. It comes and goes, often not sticking around for too long. Does that sound like you? You’re certainly not alone.
Most people live from paycheck to paycheck. And now, with the price of everything escalating, the value of a dollar is diminishing. But we get so caught up with our immediate reality we lose sight of the fundamentals. Well, here are five things you need to know about money, plain and simple:
1. Know That Your Mindset Impacts Everything
Yes, there is inflation, you have student loans, a family to feed, and there is no such thing as job security, But a large part of your current reality is a reflection of the state of your inner being and your money views. In other words, your external reality mirrors your internal beliefs.
As long as you believe money is inherently wrong, rich people are entitled bastards, and the only way you’ll ever scratch a living is to work hard, then this belief system will project into your reality.
Maybe you feel you don’t deserve easy money. This explains why people who win the lottery lose all their winnings not long after they get it. Till you rescript your money story, it will continue to play out as it always has.
2. Know That You Must Pay Yourself First
You will never have enough money to save, so don’t wait — do it. Most people spend as much as they earn. If given a 10% raise, you’d find ways to spend that 10% just as you’ll adapt to an income of 10% less.
So save at least 10% of your income instead of waiting till you can afford it. It’s that simple. Paying yourself first is the one habit that will get you out of the vicious cycle of living paycheck to paycheck with nothing to show for your years of hard work.
3. Know That You Must Invest To Build Wealth
No matter how you receive your money — whether you strike the lottery, inherit your money or earn it — money can only grow when it is invested. Plain and simple. Your savings must be invested for your money to work for you.
4. Know The Secret To Multiple Sources of Income
Job security is a thing of the past. We can all be replaced. But it would help if you were proactive in creating alternative income sources. Start an online side hustle and develop passive income sources, whether selling Ebooks, meditation-videos, or digital courses; there are endless ways to make money in today’s market. More than ever before.
5. Know That True Wealth Lies in The Quality of Your Relationships
Money provides you and your family freedom, security, adventure, and fun. With cash, you can invest and leverage your business, leave an unhappy relationship, or a dead-end job or move to a different state.
However, the most comprehensive study on happiness by researchers at Harvard found that it was not money, job status, or education that added to the quality of a person’s life as much as the quality of their relationships.
In your endeavor for more wealth, please do not ignore your significant relationships because they impact the quality of your life. Plain and simple.