Sometimes, I tell myself that, if you take away financial problems from humans, at our current way of life, we will be left with little to no problems. A lot of problems are solved financially, including when people have treatable diseases, and so, it isn't a surprise when people are working tirelessly to make sure they are financially stable. Ohh!! It is easy to dream about having a lot of money to solve all your money problems, but it is very difficult to be become financially stable. Becoming financially stable requires self will, and discipline. Growing wealth is a gradual process, one dollar at a time, not 1 billion dollar in one night.
In the spirit of making money and growing your wealth, you need to understand that there are certain skills to help you keep your finance. These are realistic skills useful beyond books. Even when you are getting a check of $100,000 in a week, or a month, not being able to possess these skills, destroys whatever chance you have to become financially successful. These skills include;
Valuing Money
It is not how much you make as income, it is how much you can manage the income. In other, for you to keep money, you need to be able to value every minute you spend working. You must understand that every minute you spend working was what made you the money you are holding in the first place. When you value money, you would understand that you do not give out everything you earn because you want to show off, or because you want to please others. Making money isn't an easy task, it is reward for work well done, and should be treated as that. Treating money as anything beyond reward or hard work, isn't a good way to value money. Valuing money will help understand and adhere to the second skill
Learn to Control it
Impulse, have a very significant role in our day-to-day life. The inability to decide on what to buy and what not to buy is not an easy thing. Being able to purchase anything because you pre-planned it is the best way to increase your finance and manage it. Buying based on impulse is a bad way to handle money. Impulse buying is one leak that people are trying to cover. In other to overcome impulse buying, do not purchase whatever was advertised to you immediately, never buy anything within the first 24 hours when you see them. Go home and think about why you should buy them and what impact will they have. Learn when to spend, save, and make more money. Learn how to control your money, from how you earn it, to how you spend it.
Save It, to Invest it
The ability to control when to spend and when not to spend isn't a small skill. Being able to do that allows you to have control on your money, when to spend it and when not to spend it. When you understand that your money is your hard-earned money, how do you keep this money from going? The best way to keep money from going away as fast as it came is to invest it. You cannot have the entire money to invest in one day, but you can save the money daily to reach your investment goals. I was telling a lady that the money you spend in buying hairs is enough to purchase you a car which will help you save money for bus as well as help you get to work early than you do. She thought I was joking and decided that every impulse she had to purchase one of those expensive hair, she would save the money. Today, she owns a car that saves her 1-hour every day and reduces the cost she spends on transportation.
Final Words
Being good in personal finance isn't an easy venture, it requires understanding what every penny means and how they were gotten, how to keep them growing, and how to forfeit spending based on impulse. Being able to identify a liability spending from an asset spending is also part of it.