At some point we have to punch the calculator over and over again. What can actually be draining our income? You may be thinking you have some sort of careless spending. Over here, it is not much about careless spending, the current economic hikes are just making everyone seem unmannered. You will just be imagining how over 60% of someone's earnings can be going into food alone. Food remains a backbone to human existence, you are left to spend to look healthy or spend on the later to pursue good health when it zooms to a deterring health conditions.
There is always a need to watch our expenses or it may end us up in regrets after 365 days. Have you ever sighed why you never threw in some bucks in one project or the other after you later see a massive growth?. We have been there before. Maybe you made some wrong expenses throughout the year that took ALL your incomes or perhaps your means is low. Many of us don't understand that why we are not able to invest is because we are not upto investing. What do I mean here?
Let's say for instance, your minimum daily survival expenses is $5 dollars everyday and you are making $150 dollars monthly. What does this imply? No investment opportunity for you. Are you making the wrong expenses here? Not at all but rather the problem lies in your means. You need to find ways to increase your income because your means here is low. I remember clearly what a mentor told me, 'leaving below your means can't solve your problem. You need to expand your means'.
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At some point I felt I was overspending and had to go back to my drawing board. I had to recheck many things and find out the minimum amount of money I will have to spend daily and how it corresponds to a month.
There was nothing to assume luxurious atleast at my level so I knew where the problem was stemming from. Being a grown up comes with some responsibilities, you can't dodge them (at least you have to filter out the most important once and add them in your monthly expenses).
Let's say for instance, showing some level of kindness and donation. This doesn't need to be a huge chunk of money or gift as the case may be. We all make moves of faith with hopes it pays out. Dodging responsibility is not a way to generate funds for investing, but rather a display of greed and self centeredness. It leads to being lazy and working only to solve your personal problems. You must admit, someone out there is depending on your small donations. There are privileges you are enjoying over others.
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That said, how do I tackle my low means? It boils down to knowing what is happening around you. Coming back to my business, I have to answer the question of 'how do I increase my daily interest to give a positive effect to my monthly revenue.
The standard of living has increased and I have to find ways to stay above the curves. One of the easiest ways is to have investment that pays dividends or rewards. It takes money to make more money especially with the right knowledge.
Why I am putting up this article is to make the necessary corrections. Some stay depressed without knowing that to some point they are the cause of their setbacks. I keep on saying, most of us are very bad at numbers. Understanding your daily needs is key as it tallies to your possible monthly outcome. When this is derived, your next move is to look for ways to generate the others. Of course you will need investment money to grow wealth in the long term.
To conclude, let me add, Inasmuch as there is always a need to curtail our expenses, there are some that are unavoidable. At this point, the solution remains lifting yourself from a position of low means. There are many things you will not be taught in traditional school, it could come out of experience, insight or perhaps just reading through a rational article. In the end, financial literacy is an added proof that knowledge indeed is power. Grow yourself smartly.
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