Could it be you hate successful men? You can increase your financial literacy and reach your financial goals. Investing in fixed income security involves certain risks such as market risks if sold prior to maturity and credit risk especially of investing in high yield bonds, which have lower ratings and are subject to greater volatility. All fixed income investments may be worth less than original costs upon redemption. Investing includes possible loss of principal and involves risks too.
Stocks offer long-term growth potential, but may fluctuate more and provide less current income than other investments. Invest in the course you know, are proud of and can advice people on platforms to lay their foundations to have a lasting sustain (and won’t burn out). Join the chain of success and set the pace for other individuals to follow. Investment has much to offer than invest, investment in the
stock market should be made with and understanding of risks associated with common stocks including market fluctuations.
Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.The value you have for information has the capacity to give you much money than you expect (and maybe want). A point to note is this; as people age, their priorities changes, and so should their investment strategy.
1. Always Plan
Planning helps you determine where you are going with your money. This helps you create strategy for living the life you need which God wants. Determination is the access here. Your goals should be a driving force behind overall plan. While making your list, create a dividend enlisting your long-term goals. Your goals should be dependable, realistic, attainable and specific.
Your short-term goals involves a one-year plan schedule, mid-term goals – time space of two to five years and long-term goals are the ones to serve you greater than five years from today. For example, if your mid-term goals as a student is to start up a foundation, it could be tagged a “Global Resource Foundation” or your desirable choice name according to the contents of the foundation and its reason of instituting, make profound researches and know what (the cost) it will take to bring it up (limelight) and growing.
Your goal in the list plan maybe registering it as an incorporated or limited company (and doing this help boost your growth). Be sure to have a blueprint of what expenditure to be considered in few (more) years to come. Regularly update yourself on dealings with such – having an incorporated or limited company.
2. Monthly goal archiving
Creating your financial plan takes a significant time investment first, but documenting your goals can help you save time and money in the long run. Still on the example we discussed on the first point. You’d need money to register your company to have it up and growing in your mid-term plan. When you discover the amount of money to be spent on the up-coming establishment, you can go onward and set up a monthly goal. Study and review the foundation of your savings, when you discover that you can’t save as much as your goals requires, take a good look at your expenditure column, make adjustments (where needed).
Be careful, mindful and watchful of what your goal is. If that doesn’t seem practicable, you may need to put to sum more time to your goal totality date, change your prioritization and search for steady grounds to increase money coming towards your direction of existence. A little change added to your life growth system can re-configure and boom-out your hidden smart-resources.
3. What is your believe?
It isn’t always easy to know the path to begin toward achieving your financial goals. What you believe have an automatic reaction to the way you treat issues. A change to the system you believe won’t work for you can easily turn to habits that may have a long-stay and big impact on your financial knowledge. Don’t let people’s believe disfigure you own (personal) believe about your success. Don’t know where to begin?
a. Turn your savings into a habit – start by paying yourself.
b. Be sure to know where your money transports itself to every month – take note of your everyday expenses till the end of the month.
c. Manage your debts by spending less on interests by paying down the debt that takes too much of your money.
d. Set up an emergency savings box – this helps you in saving money, should in case you run out of your 4-7 months worth of expenses.
e. Decrease the rate at which you lend money from any individual or an organization, pay on time every time – doing this will keep your relationship with people waxing stronger and healthier.
Nobody knows exactly what each day has to offer. Be very strict and precise of what you believe, they can make or mar your life and business. Financial improvement begins with the right mindset; maybe you feel you’ll never have enough to go around. It could also be that you feel that having money is the root of all evil and those that seek to make more of it are bad and greedy individuals.
One of the top reasons why the look on Nigeria is the way it is now is because of the perspective the minds of the leaders stretches to. In real life, your money can be used to build your life to live the way you want this can include fulfilling things such as giving to charity or working in different platforms to better the life of others.
If you study carefully, you’ll come to note that having in mind that money is evil or that our financial goals are simply out of reach because we don’t have enough money is to live on earth murmuring all day with no actual sense of what the problem is.
What you need to do is this, understand and have a self-believe that we can successfully manage our money to reach our goals and live our idea of a great life.
If you must increase your financial growth system and knowledge, don’t say these things:
a. I can’t make more money
b. I will never have enough money
c. My salary statistics is static and will never change
d. I can’t live and make more money outside my company’s environment
e. My income and my savings are out of my control.
If you’ve thought and are still thinking this way, stop it! Instead brainstorm on thoughts as such and grow with the sayings:
a. I own the choice of what to do with my money or not
b. I can take a step forward to change my financial situation
c. I can live above the predictions of people about me (and my business)
d. I have options when it comes to my finances
e. There are answers to what I currently perceive as problems with my money
Live and imbibe with these positive thoughts, it may not be easy at first. Take a step and add the next step, combine the third step, it is the powerful way to feel that you are in control. The great and most important thing you can do to have and make more money anytime is to learn about it.
Build your financial education, it is a fine tool for empowering yourself to increase your financial knowledge. This may sound intimidating, especially if you are still trying to build up a stand in the foundation of your financial knowledge.
Here’s the tip-off you should have known by now, everyone, even the experts in finance, starts somewhere. Get choked with the internet, in the streets lies mysteries to hype wealth and intelligence. It is a global-villa, until you get into the entrance gate, you won’t know the streets.
The internet gives us access to a bunch and wealth of information about self finance, money managements and non-traditional methods of how we can utilize our money. The internet kills and adds value to lives, be careful of how you use it.
Your need are unique to you – and because of this, I advice you look for a financial pro who understands and respects your needs, alongside with what you want to achieve with your finances. Don’t say “I know nobody!”
Look for a financial pro – the big G can help you find one; a person who is a specialist like you, who his calling is helping others achieve their dreams and big financial goals which you want to reach for yourself. Don’t be too stingy even at your self. The more money you invest and spend wisely, the triple of it you get and more.
Financial empowerment grows with a person that exhibits the right mentality column. The growth continues when you make the decision to educate yourself and make more money.