How to earn money and how to avoid losing it…definitively the two greatest teachings of life. Once you know how to do these both, nobody can stop you. All that you have ever dreamt of will cease to be dreams and turn into reality.
There are many ways to earn money and many ways to keep it safe. But the ones I’m going to discuss today are the least spoken of and understood things, where people usually go wrong.
How to earn money
Unlearn all that you have been taught till now…hard work, better jobs, better salaries, etc, etc. Well all that counts but would never really make you super rich and successful!
What you need is a mindset change. A shift from ‘working for money’ to how to make ‘money work for you’. Yes, the only way to be successful and rich is if you go on doing what you are anyway doing – like hard work, job hopping, etc but keep thinking, learning and implementing ways in which your existing money would make more money for you.
This might include investments, self-development courses which would help you to get better jobs, starting-up a side business. Anything for that matter. But the mindset change to always think of what can work and where to put in money to make it grow is the most effective way to make money and get rich.
Sooner or later you will see that this mindset has become a way of life for you and there are multiple income streams which are somehow making money for you even if you do not work.
How to avoid losing it
For most of us, earning money and getting rich spells the end to all money problems. Nothing can be farther away from the truth. Once someone is rich, keeping that money, sustaining the success and continuing to be rich is a huge challenge in itself.
Usually people who have suddenly had their hands on fortunes, maybe a lottery or an inheritance or even through business or work, end up losing it pretty soon. There are thousands of examples of millionaires going broke sooner or later. This is because they have always focused on money and never on financial education.
When one focuses only on money, then once he is rich it seems as if he has reached the destination, his journey is over. He starts to over spend on houses, cars, world tours, etc which are all money-eating liabilities which would never make money for him. He also ends up giving huge sums to loved ones who might be short of cash at that time.
Challenge to stay rich in future
Long story short, the individual faces a challenge to stay rich in future. The only way to avoid losing money is to educate oneself in financial education. How much to save, how much to invest and where and how much to spend on leisure have to be chalked out and well planned. Get help from couple of financial advisors if you have to, but remember, being rich is just the starting point of your journey and you need to keep staying rich. Again, the best way to put your money to good use is distribute it in things which would make more money.
Develop this mindset and earning money or keeping it safe, both would not be a problem at all!