Thursday, March 11, 2010

Control Money to Achieve Financial Independence

Posted by pucca at 3:52 PM

     If you want to make any improvement in your life, change your behavior. The second law of motion states, for every action, there is always an equal and opposite reaction. Thus we can easily conclude that changing your behavior positively will create an equal positive result.



     All steps to financial independence will be useless unless you change your beliefs about money. Money does not make the world go round, the person who controls the money does.



     We sometimes confuse money with what is actually more important. Choose. Your son’s first birthday celebration, or a product presentation with one of the major clients of your company? You can never choose both. You may sacrifice your work for your family or the other way around. If work is consuming and eating up mist of your time, specifically your time for yourself and your family, you are starting to be controlled by money. Money is not the most important thing in our lives but it affects everything that is important in our lives. You need money to provide your family with a comfortable life. There is a thin line between being concerned about money so you can be a good provider versus being obsessed with it.



     Do not let money control you. Do you work to make a living or do you live to work? Believe it or not but neither one of them is correct. Man should work because he wants to. He works because he gains personal satisfaction in what he does. He also gets monetary compensations for the things he do, but still, money comes second. This is how we should approach our jobs. Why waste our precious time and knowledge in a company that stresses us out, makes us neglect ourselves, our health and our family? Personal satisfaction will definitely feed our families. True. But we should also remember that if we are not happy in what we do, we tend to slack at work, becomes less productive and thus becomes a liability to the company.



     Make money work for you. You don’t need to spend all your life working your head of for such material things. Here are some simple and easy tips on how you can control money.



1. Do not be a workaholic. Designate. Let other people do their jobs. Being the reliable employee is only good for the company but is unhealthy for you. Do not abuse your self.



2. Invest. Let your money grow while you sleep.



3. Create multiple income streams. Run a business, sell stuffs or offer services. Have a talent in painting? Bakes delicious cakes? Do not let it go to waste. Make money from the things you enjoy doing.



4. Know what you need and what you want. Do not buy things you do not need. Money is always enough, sometimes it is even more. Money becomes insufficient when your wants increases.



5. Save. Save. Save. Do I need to say it again?



6. Prioritize life. Value you health, your friends, the people around you and the people you love. You will definitely see that they are far more important than money.



 

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