Let money be money
Instead of working hard to make money, let money make money
3 stages of making money:
1) Earn money with labor
2) Use knowledge to make money
3) Use money to make money
In the early days, most people made money by labor . This kind of money-making speed is relatively slow, and the risk is also high
As long as you have accumulated a certain amount of funds and have a certain amount of money in hand, you must start investing and building assets
Only in this way can you quickly get out of the days of earning money by labor
Making money with knowledge is indeed easier than making money with labor, and the risk is relatively low.
If you want to rely on the knowledge to make money , the premise is that you must have the knowledge of other people want to learn
When Weiqiang was in university, he majored in finance.
After graduation, he did not go to the city to work like other classmates to help his boss.
Instead, he continued to teach himself the skills of website building
In less than a year, he established his own website and set up an audio channel (Podcast) to share financial knowledge
Since his sharing is related to "money", many people are interested in it and are willing to learn from him
Weiqiang took the opportunity to set up his first online course, which taught many people how to invest correctly and build assets
Since then, he has embarked on a journey different from ordinary people, relying on the knowledge he has learned, making more and more money!
Knowing how to make money with money is also a must-learn skill, a knowledge
Making money with money is no longer a game for the rich. Ordinary people like you and me can also make money with money!
That is: learn to build an automatic money making system
Rather than crashing around like headless flies, learning this and that, until the end is tired like a dog and didn’t make any money.
Relying on your own high income to achieve a prosperous life is not the only way out
Many people who rely solely on high incomes find it difficult to obtain financial freedom. The reason is that they have not allowed money to make money and profit, thinking that their high income can overcome inflation.
Imagine your current monthly income is RM 12,000
RM 10,000 is used for living expenses, insurance, loan repayment and entertainment, leaving only RM 2000 deposit. If you don’t use it to invest and let money make money, after 3 years, your RM 2,000 will only be RM 2,000.
If you are frugal, you can save up to RM 5000 every month and then invest again, the return is 8.5%
After 3 years, your RM 5000 will become RM 6386 (earned RM 1386)
This is one of the ways money makes money. When your principal becomes larger and you have more money, you can invest in real estate (after all, the return is higher!)
Knowing that making money "work for you" is a skill and a way to make money that many people don't understand
Suppose you spend your money uncontrollably, you are tantamount to choosing poverty;
Assuming that the money is used for long-term return projects, you are equal to entering the middle class;
Suppose you invest money in your brain and learn how to acquire assets, you are equivalent to mastering 87% of wealth
In the end, you will become rich, and you don’t need to look at the price when you buy things. It is your future!
Learn to manage money
When it comes to financial management, I believe that the first thing many people think of is: buying stocks, buying real estate, buying bank funds
Financial management includes these, yes. But in fact, its scope is much larger than those of investing in real estate or stocks.
Financial management is related to all aspects of our lives
People who know how to manage money often say: financial management = take care of life.
It not only requires you to learn knowledge, but also the perseverance of long-term execution!
Before starting the implementation, you must first have a rich mind , otherwise no matter how hard you work, it will be in vain.
"No money" here does not mean no income at all, but not enough money to retire!
What does not enough money to retire mean?
It means that income has reached a bottleneck and it is difficult to earn more money
Reaching the income bottleneck means that you work very hard and work hard overtime every month to earn RM 5,000 (the peak is already reached)
Why does revenue reach the bottleneck?
1) Because your current job has no prospects for development
2) Because of lack of high-income skills
3) Because you stopped learning
4) Because they did not actively seek part-time jobs/start side jobs
5) Because of lack of investment opportunities
Or, for other reasons...
So at this time, you should learn more about financial management
Learn how to add value, learn new skills , learn how to invest in the long-term, etc.
Money begets money, let money work for you!
Through learning, you will be more aware of these 3 things:
1) The importance of saving
2) Ways to create diversified income
3) Compound interest effect (turn white goose into golden goose)
Learning financial management is the earliest thing that a person should accomplish as soon as possible in his life
Because we only have 24 hours a day, there are not many things we can do, and the money we can make is limited
Therefore, we must learn financial management early, build a passive income, and get rid of poverty, so that we can have more choices!
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