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One of the interesting feature of this platform is, it's ability to reward it's members who actually contributes to it's growth either by curration, comment or blogging. But before you get carried away by the idea of free steem/money, you should first of all Learn, then remove the "L" and Earn.
So on this first episode of this blog post "Money Monday", I think we should start off by giving you the five effective rules of money, so as to guide you on the ways of managing your money well.
First, money will come to the person who practice the act of savings. One of the important terminologies of crypto currency is HODL Hold Onto your Dear life. This is simply talking about savings. You have to cultivate the act of HODLing. When you save, you make room for more to come in, don't be in a hurry to withdraw your steem leave it to grow and it will give you a sense of belonging.
I was talking with @ogochukwu one day and he had a call from one of the steemians in his community. He was calling to get directions on how to withdraw his steem. when we got there, we discovered that all he had both in SBD and SP is 10 steem. It was very funny to us but that brought up a thought in me;
is this all that is it to steemit. Participate, get steem and convert it back to fiat?.
Saving your steem/money gives you a sense of belonging, it gives you a say in this big community, because you see, all the big guys saved thats why they now have a say here.
come for the reward, stay for the community.. @surpassinggoogel
come for the reward, stay for the community.. @surpassinggoogel
You were surviving before you started blogging on steemit, you can still survive without withdrawing all you get.
one-tenth of all you get is yours to keep.
Yes you have to save but your money is also meant to get you more money. So I say to you the Second law is to make your saved money work for you.
Imagine if you kept 10% of your earing of every post and you used others to take care of your needs, that will give you two way advantage, you take care your your needs and have some for the rainy days. The beautiful thing about crypto it that you can trade and thats what you should do with some of your saved money. Use your spare cash to buy and trade other coins that are in good conditions now and i said some because this is not a stable market so that you will not go all down when the market is not favorable.
Also invest in physical structures that will give you children and grand children of your capital.
make your money work for you, don't just keep it, unleash its potentials.
It is said, look before you leap, so also, ask before you invest. For the third law, I say to you; Consult the wise before you invest.
Yes you have to invest but seek the knowledge of those in the business before you. Advice is something freely given but be mindful of whose advice you take, consult the wise counsel. Last year I invested in some business without much consultation and it didn't go down well, i lost much money which is till affecting me till date. You don't give what you don't have, adequate information is the key to a successful investment
.You do not invest in a business you do not understand.
I once stared a sports bet business( Bet9ja) without much of an idea for it. In my first week, my employee made away with my money because he knows the business more that I do, and until I learned the tricks and methods involved, i was losing money. Also, don't invest just because of the money, invest because of it's value.
When you go into a business just because of it's monetary value, you hardly last long in that field. Have something other than money, have Value.
Lastly, don't subject your money to impossible.
Last year, I lost much money on punzi schemes.( MMM and Twinkas Nigerians here can relate to this.) I invested in the impossible. Investing in the impossible is when you don't want to do any work but you want your money to be earning for you, that was what i did and it cost me much. Naturally, human beings likes the easy path but you should also be careful for all that glitters is not gold.
Do not over stretch the ability of your money, know the limit of your wealth and don't push it far beyond that to avoid losing it. Money is sensitive, treat it as such.
In conclusion, we all want money but seek fist the laws of gold before the gold itself, for money will leave you when you don't have the knowledge to guide it. My father says...
when you create a path for money, it will come.
As we seek to get steem, also seek to know how to use your steem/money.
when you create a path for money, it will come.
