7 laws of the right attitude towards money
Each person's relationship with money is different. Some have a strong friendship with it, some not so strong, but everyone wants to have it. Money is favorable to those who know how to deal with it, observe its laws.
The laws of money are not complicated. You can simply ignore them as foolishness-and in vain. Money loves respect for itself and its laws.
1. Choose an attitude toward money
Everyone has the right to choose his or her position on money - to be wealthy or not. Often a person is trapped by stereotypes and beliefs that he or she has created. They perform a limiting function and do not allow a person to believe in his possibilities, despite the fact that no one considers himself to be stupid.
2. Genuine Capital
Real capital is not money. The real capital for each person is the ability to earn money. The money one receives today is a measure of one's ability to earn it. This ability and the necessary skills must be developed by striving to work harder, not harder. The best kind of investing is investing in yourself.
3. assess perspectives
Every time you make a financial decision, you need to calculate your future steps. When starting a new business, it would be foolish to count on a quick, impressive profit. If the current income from a new project is insignificant, but the efforts applied to it, in the future, can increase it by tens and hundreds of times - it is necessary to be patient, following the developed plan. Wealthy people always assess the future prospects.
4. Деньги на “черный день”
Always set aside a portion of your income. For example, 10%. There are always problems - debts, force majeure, etc. If 10% is a lot for you, start with 1%, eventually increasing the amount you save to 2% or more. Your savings are a financial reserve that will give you relative financial security.
5. Proper investing
This is one of the most important laws for money. You should not be in a hurry to invest your money. It is necessary to thoroughly study the business in which you plan to invest your money. The money did not fall to you from the sky, you spent time and effort to earn it, so you should respect your work and the money it earned.
Always evaluate the possibility of losing the money you have invested. Ask yourself - what will happen if I lose this money? If the loss will be painful for you, you should obviously give up on such investments, saving what you have.
6. What's the rest?
No matter how much you earn, the prospects for your financial future are evaluated not in terms of how much you earn, but in terms of how much you have left. The 10% that you save does not count.
7. Analysis of financial position
Analyze your financial situation regularly. Once a year is not enough for analysis. It needs to be done at least weekly. The main topic of analysis should be the prudent management of your money. The amount of time you spend analyzing depends on how thoughtful and wise your financial decisions are.