Money Management To learn at your 20's

How many times you imagined yourself be the richest person alive or be in the top 1%? 

The answer is more than hundred times for almost every person unless they are the one . 

Now being rich is the goal but the path shouldn't be drawn by someone else. Yes you may consult a successful businessman or your successful relatives but they will put you in utter confusion if you totally depend on them. Else you'll get motivated by that one rich dream one person showed to you and choose it. The reality is that we don't give ourselves the time to think before we take a major action but overthink for useless jobs. 

Being Stable on the money through jobs: 

This is quite an ignored topic in this upcoming generation only because all the influencers , business motivators put up a concept of 1% humans . And guess what, they sold you the course they were selling and gone away , you got the useless knowledge and left with only dreams. 

If you want to manage your money by doing 9-5 job , yes you can . Our older generation did . The competition is never the problem, the problem is money management. If you earn 20k and have a iPhone on emi or even a bike , it's pure waste. Yes , you are living your dreams by using those but from the deepest part of your mind knows that it's only for show off. It's comparatively better to have a 10k phone and fully owning it and have atleast saved amount of 2k a month in tier 2 or tier 3 cities . It necessarily doesn't mean lower your expenses but rather mean utilise your money . 

What to do with the saved money? 

Now this part of the article may vary to different earning personalities but a dedicated one to those who are building there income and not just investing from the luxuries they or their family members own. 

1) Burn your money: 

Quiet a misleading headline it seems , but it isn't. Although it don't mean that literally burn the money but understand it by using the gym term 'cutting ' which means the extra fat which is present in your body , burn it. Same applies in money management, the saved up money is not the one you risked and sacrificed your daily expenses but should an exception from emotional earning. To grow your wealth and creating wealth is vastly different from each other. 

Ofcourse you can invest those saved up money in real estates, stocks, startups, mutual funds etc. but whichever path you choose stay in the path for atleast 3 months and learn as much as you possibly can with those saved up money. Lack of knowledge can affect your investments but you gain knowledge by giving the real exam and not virtual one . 

Like in cricket, you see net practices are important likewise in investments learning where to put your money , paper trading etc. is also crucial but you shouldn't forget that after learning a course you are supposed to give an exam to get promoted in your next step. 

Thank you.

Comments

You must be logged in to post a comment.

About Author
Recent Articles
Apr 14, 2024, 3:53 PM John Carlo Rabanes
Apr 14, 2024, 3:52 PM Hicham
Apr 14, 2024, 3:51 PM Batiancila, Sara S.
Apr 14, 2024, 3:50 PM Batiancila, Sara S.