Money can be earned or spend but if you have the awareness about how money process, In order to gain success over money and can begin building money from money. The skills you need to increase your money making is know how cash flow
Work on the system. To become rich must learn giving as well as receiving.
The only basic difference between a wealthy person and a poor person is the management of their fears regarding wealth. Lots of people think in reverse direction. They think that They are unable to bear the pain of losing money. So they never want to invest their money in being rich by investing. The most common form of not learning about investments is laziness and always saying that I am busy. The best cure for laziness is to ask yourself is, ‘What’s in it for me?’ Whenever you avoid something which you must be done, then the only thing to Be a little greedy and look what benefit that thing can give you.
Most people do investments instead of learning first how to do investing. Most important things about money making are not going along with the crowd. Saving is loosing if you are not investing; because without investment, nobody can create a wealth. Only savings never enough. Savings first step towards wealth creation is Savings are only used to create more money, not to pay you’ll bills. There are three different types of income: Ordinary earned, Portfolio, Passive. Fear and Greed are both two strongest emotions in a human which controlled the life. Only a job can’t make your life secure. You need to solve all your problems and produces money. For this, you must know the difference between an asset and a liability, by knowing this start buy assets which produce money for you. An asset adds money to your pocket. But A liability takes away your money out of your pocket.
Lack of understanding of cash flow algorithm, people struggle financially. There is very much possibility of A person can be highly educated, professionally successful, and still financially illiterate. Concentrate your efforts on buying income-generating assets. Money is a person’s ability to survive. So ask yourself If you stopped working today, how long could I survive? Wealthy people buy assets but The poor only have expenses and the middle class increasing liabilities thinking they are assets like expensive furniture or costly cellphones on E.M.I.
The intelligent people focus on their assets while everyone else focuses on their income or salary. Too many people forget to mind their own business. They spend their lives minding someone else’s business. To become financially secure, a person needs to mind their own business. This means not mimic others and try to buy luxury items on EMI. An important difference is that rich people buy luxuries last, while the poor and middle class tend to buy luxuries first.
Always try to Keep your expenses low, reduce all the liabilities, and build solid assets like Stocks, Bonds, Income-generating real estate like a house which giving rent per month. Without learning about investment doing investment is gambling only. Learning is the only key. Your level of success is directly measured by your level of investment. If you’re not getting the desired results, it’s because you haven’t invested enough to get desired results.