Most of us are simple—sometimes to the extent of being simpletons. Many of us are found wanting in self-esteem. We readily do things for others for free.
One of the reasons why some people are impoverished is that they do not understand their value. They neglect or underestimate their valuewith the result that they think nothing of providing free service to others. They feel that it would be imprudent to ask friends to pay for the jobs they do for them. They take it as favours to friends. While that might be true in certain cases, that should not be applied to each and every case—particularly if the job is laborious and time-consuming. Charity and social service are good causes but you have to ensure that you too need to look after your interests.
The rich and the moneyed are smart enough to decide when enough is enough and develop this diplomatic approach of telling their friends that they would have to loosen their purse strings if they want some labourious and time-consuming work done. For them, friendship and business are two different compartments and need to be treated as such.
Similarly, you must pay yourself for what you do because you would have paid others for the same job if you had outsourced the work. Doing that would boost your moral and help you to assess your output from time to time.
Don’t spend all the money you earn. Worst still—don’toverspend. Also, don’t spend the money you have not earned yet by using your credit card on unnecessary purchases. Learn to save money and invest it sensibly to generate a second line of income.
Don’t hate money ever. You need not be greedy. But you don’t have to hate money. Money is important in so many ways. Value money but don’t give in to temptations of making a fast buck through wrongful means. It is not a sin to be money-conscious. You have to be money—conscious if you don’t want to be bankrupt one day.
Work out a plan for building up your capital. Set goals for that, work towards those goals and achieve them.
If you are wealthy, don’t flaunt your wealth. It may depress some who are poor and make others jealous.
Set aside some time to organise your finances and review the same from time to time.
Making money is a game. Learn the rules of the game. Find how it works and make smart moves at the right moment to multiply your wealth.
Make it a point to create a corpus fund early in your life—you may never know when disaster will strike. Set aside some money for emergencies and contingencies. Never touch that fund except for these purposes.
Always display a big heart while dealing with people who are deprived or less privileged than you. Lend a helping hand.
Make a list of passive income possibilities, identify the ones that suit you most and implement them.
Avoid credit facilities if your expenses can be postponed. Make those purchases when you have sufficient cash in your wallet for them.
Remember—itis not what the money you make but the money you save and invest that makes you a wealthy person. That is the secret of the money game.
