How do you view money? What is your attitude toward it? Are you filled with joy when receiving it and anguish when having to spend it, particularly on something you'd rather not spend it on? Like a bill! Chances are you go through a range of emotions when the subject of money is mentioned, none of them really conducive to bringing you more money. The simple fact is money is not some mystical, unattainable substance that can cure all of life's ails; it is just a tool. It is no different from the hammer you use to drive in a nail or the wrench when applied to a bolt. It is a tool to be used to facilitate life. This is what the rich understand, this is how they employ it. I used the word employ for a reason. Normally, we are employed for money, but if you really wish to be financially free you must employ your money. You must make money work for you instead of you working for it.
Ways To Employ Your Money
Investing - This is by far the most common and easiest way to put your money to work for you. Everything from 401(k)'s to standard savings accounts to mutual funds will earn an interest rate and any time your money earns money that is a very good thing. Do your due diligence to educate yourself concerning the kinds of investment opportunities available to you.
Financial Planning - Is there a rhyme or reason to how you save and spend your money? If not, then your finances are just circling the drain. It is imperative that you map out a goal and a strategy to reach it. This should be a two-sided plan. One side will set a budget and the other side will detail the various ways in which to save and invest your money to reach your goal the quickest.
Managing Debt - In this day and age your credit rating is just as important to you as you social security number. Therefore, it is vital that you control the amount of debt you incur. Pay down any outstanding balances on credit cards, loans, and other credit accounts as quickly as your finances will allow. It may seem beneficial to follow the monthly payment schedule, but understand those schedules are designed to draw out the maximum amount of dollars from you. That TV you purchased from Rent A Center will cost you three times what it's worth by then end of your contract. That's money that could have been invested elsewhere!
Importance Of Employing Your Money
If you ever wish to reach a point in your life where you are not forced to go to work for another in order to survive then you must form a better relationship with money. You must come to understand its function in society. You must reform your attitude toward it, adopting a more positive one when receiving and spending it. You must come to see it as a tool, one of many that is here to make your life easier, and begin to use it as such. Money that is not used efficiently is money wasted. The rat race never ends, but with a little education, discipline and goal setting you can lounge on the sidelines and watch the other rodents scramble along!
See my post on ways to create a budget to get you started on taking control of you financial future. For more information on money and finance see my website [http://www.themaddranter.com].
I encourage you to share this information with someone if you found it helpful. Let's spread the word about financial responsibility!
Let's Get Rich!
Ways To Employ Your Money
Investing - This is by far the most common and easiest way to put your money to work for you. Everything from 401(k)'s to standard savings accounts to mutual funds will earn an interest rate and any time your money earns money that is a very good thing. Do your due diligence to educate yourself concerning the kinds of investment opportunities available to you.
Financial Planning - Is there a rhyme or reason to how you save and spend your money? If not, then your finances are just circling the drain. It is imperative that you map out a goal and a strategy to reach it. This should be a two-sided plan. One side will set a budget and the other side will detail the various ways in which to save and invest your money to reach your goal the quickest.
Managing Debt - In this day and age your credit rating is just as important to you as you social security number. Therefore, it is vital that you control the amount of debt you incur. Pay down any outstanding balances on credit cards, loans, and other credit accounts as quickly as your finances will allow. It may seem beneficial to follow the monthly payment schedule, but understand those schedules are designed to draw out the maximum amount of dollars from you. That TV you purchased from Rent A Center will cost you three times what it's worth by then end of your contract. That's money that could have been invested elsewhere!
Importance Of Employing Your Money
If you ever wish to reach a point in your life where you are not forced to go to work for another in order to survive then you must form a better relationship with money. You must come to understand its function in society. You must reform your attitude toward it, adopting a more positive one when receiving and spending it. You must come to see it as a tool, one of many that is here to make your life easier, and begin to use it as such. Money that is not used efficiently is money wasted. The rat race never ends, but with a little education, discipline and goal setting you can lounge on the sidelines and watch the other rodents scramble along!
See my post on ways to create a budget to get you started on taking control of you financial future. For more information on money and finance see my website [http://www.themaddranter.com].
I encourage you to share this information with someone if you found it helpful. Let's spread the word about financial responsibility!
Let's Get Rich!
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