Money plays an essential role in everyone's lives. Today, there is hardly anything of value you can get without having an exchange for money for it. Money is crucial to have access to the essentials of life. We all are the reason for our financial success or failure as it wholly depends on us whether we save it or waste it.
1. Importance of Investment
We generally save money for three main reasons: consumption, savings for future needs and unforeseen problems, and for investment reasons. Investing a percentage of your income is as important as saving a part of it. With a good investment plan, you would be able to increase your net worth and have a good amount of money when you are unable to earn or work. With investing, your money is making money with little supervision from you.
2. There is no shortcut
Except in cases of nature, money does not just fall in your lap. You have to work for. You must pay your dues to get paid whether as an employee or an entrepreneur. There is no shortcut to success. You have to put the hours and energy (mental and physical) before you achieve it.
You have to become skilled or well-read, both of which take time and effort. No one would pay for the substandard skill (or semi-skilled person) and especially as an entrepreneur if you are not prepared, you will fail.
Money does not grow on trees.
3. No one will give you things for free
Anything of value is never free. In truth, nothing is ever free as someone somewhere will pay for it. We all know to get a good or service, money must be paid. That car or that house you wish will not come for free. Now you might point to jackpot winners and all. For that, you have to buy tickets spending a required amount of money and the money won is a collection of the money spent by others people who are also trying to get free money (i.e. Who are also playing lottery games). So, you, see really it is not free.
4. Money brings power
Money brings respect, prestige, and power. This power is not the power to control people but the power to handle most of your life happens. You can afford a good education, good healthcare and good accommodation that will make your life better and more comfortable.
5. You must save before spending
Money earned must not all be spent. You must save part of it for unforeseen situations. Save a part of what you earn daily, weekly, monthly. Seeing as most of our money is in the bank, there are many apps that help you save your money. You can also give an order to your bank to make specific withdrawals at specific times as savings for you.
Do not save what is left after spending,but spend what is left after saving.
- WARREN BUFFETT
6. Money Value
Let every note count. Know where your money is going. Make a bugdet and try to stick to it as much as possible. Having a budget does not mean you should not do fun things or not buy things you dezire,but they must be done or acquired within that budget. This way you are able to keep an eye on your money. You must respect and value that you have an income. It is not so for others.
1. Importance of Investment
We generally save money for three main reasons: consumption, savings for future needs and unforeseen problems, and for investment reasons. Investing a percentage of your income is as important as saving a part of it. With a good investment plan, you would be able to increase your net worth and have a good amount of money when you are unable to earn or work. With investing, your money is making money with little supervision from you.
2. There is no shortcut
Except in cases of nature, money does not just fall in your lap. You have to work for. You must pay your dues to get paid whether as an employee or an entrepreneur. There is no shortcut to success. You have to put the hours and energy (mental and physical) before you achieve it.
You have to become skilled or well-read, both of which take time and effort. No one would pay for the substandard skill (or semi-skilled person) and especially as an entrepreneur if you are not prepared, you will fail.
Money does not grow on trees.
3. No one will give you things for free
Anything of value is never free. In truth, nothing is ever free as someone somewhere will pay for it. We all know to get a good or service, money must be paid. That car or that house you wish will not come for free. Now you might point to jackpot winners and all. For that, you have to buy tickets spending a required amount of money and the money won is a collection of the money spent by others people who are also trying to get free money (i.e. Who are also playing lottery games). So, you, see really it is not free.
4. Money brings power
Money brings respect, prestige, and power. This power is not the power to control people but the power to handle most of your life happens. You can afford a good education, good healthcare and good accommodation that will make your life better and more comfortable.
5. You must save before spending
Money earned must not all be spent. You must save part of it for unforeseen situations. Save a part of what you earn daily, weekly, monthly. Seeing as most of our money is in the bank, there are many apps that help you save your money. You can also give an order to your bank to make specific withdrawals at specific times as savings for you.
Do not save what is left after spending,but spend what is left after saving.
- WARREN BUFFETT
6. Money Value
Let every note count. Know where your money is going. Make a bugdet and try to stick to it as much as possible. Having a budget does not mean you should not do fun things or not buy things you dezire,but they must be done or acquired within that budget. This way you are able to keep an eye on your money. You must respect and value that you have an income. It is not so for others.
