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How to get out of this financial mess.

Naturally most, if not all of us want to craves for something better. It is all part of us, we all want bigger cars, bigger house, buying good things for the family. We keep hoping far more but in order to get what you don’t have, you have to do something you have never done, and learn something you have never learn. You have to be more.

Go for financial education, for it worth the effort

As an employee you can’t stay at same job forever and hope that a miracle will happen and your boss will suddenly give you a raise, you will be lucky that there is no downsizing in your company. Switching to another company will only provide a short term solution on a long term problem.

you can take up a second or even third job. But did you have enough hours and stamina in a day to sustain it?

3 ways of making money.

  • Trading time for money–employees, self employee
  • Manifesting and sustaining creative ideas–investors, artists, programmers.
  • leveraging on resources and other people–business people, leader’s.

If you are a professional, have you ever explored writting an ebook about your field of expertise? It well written, it could provide a new income stream, instead of you selling out your time serving your clients.

How about a computer programmer? You can come out with a revolutionary product instead of selling your idea to your company you work for. How about real estate. Instead of selling houses, you can pool financial resources to buy house cheap, increase their value and sell them off at higher price. It just take a little time and research to find good ideas.

Is money the problem? Seek out loans, if you can take the risk. Pool money from many investors or seek a grant. The sky is the limit when it come to making money.

Invest in your financial education if you don’t no one else will.

Your parents will only invest in your education only until you leave college. But that is just the basic necessities provide and doesn’t teach you important lessons about financial education.

Would you depend on college or University to teach you how to make money? Must college only teach you skills so that you can earn money working for other people. How about business school? Honestly if business lecturers are such expects at business, why are they still lecturing there instead of making a future in business venture?

Would your boss teach you how to succeed in business so that you will one day be at is position?

Be proactive and take responsibility

You see, when you invest in yourself, it mean taking on the importance of educating yourself. Education not in academic or technical sense, though they are necessary skills to be developed in life. Our education doesn’t stop in college.

For must working adult, their education enters retardation stage after they leave college. They stop learning and therefore they stop growing, they only grow sideways from eating too much pizzas or take-out during their busy lunch break.

We know that intellectual quotients is important. But why aren’t the most intelligent people the richest people in the world? There are many accountant’s and financial planner rushing to their cars every evening trying to beat the after work traffic congestion! They aren’t rich!

What about EQ emotional quotients?

Do working hard, having a great attitude and a positive mindset solve our financial situation? These are important? Important when running a business, but let met illustrate; if you are driving from Boston to New York using the wrong road map, you won’t get to your destination no matter how fast you drive your car(working hard)! You can work harder but you can only get to the wrong destination faster! You may have the best attitude in the world or the most positive mindset. But you still won’t get to New York (although the journey wouldn’t bother you since you are feeling positive about it).

You must first invest in your financial I Q

Having good financial iQ is not about saving tons of money or dumping then into the mutual funds. It’s developing a healthy relationship to money and building you a wealth of asset that will generate you money.

Delayed gratification

Is one of the most important aspect to developing your financial iQ. Take this as an hypothetical example.

Would you pay for a pint of milk or a whole cow

If you buy milk. It is consumed and it is over. You will have to buy milk over and over again when it is finished. even if the milk costs less than a cow. In the long run, you will still be buying milk again and again.

Now if a cow were to cost 50 times more than the milk, you might pay through your noses when you purchase the cow. But after consuming 50 pints more than milk, you might pay through your nose when you purchase the cow, but after consuming 50pint s worth of milk from the cow, you would break even on your investment and save more money in the future. In fact, the cow may give birth to two or more calves and you could sell one of them for profit!

Get the idea?

Everyone is capable of creating wealth when you take a beat up old car and give it to overhaul, paint it with new coat of paint, and change a few more parts to make it start running again, you could sell that car for more money than if it was just beat up old car. You would have created wealth in the process!

How about a farm? If you turn a farm into a country home gataway resort, wouldn’t the value of the farm increase manifold.

It is the same principle of chefs, computer programmers and craftman. The sum of the whole is greater than the parts. We are all capable of creating wealth even out of thin air and that is the first step to Getting our creative juices flowing.

Invest in asset that brings long time value. Anything that brings you more income is an asset. Don’t invest too much liabilities like cars boat’s even houses are not not considered asset until they are fully paid for (if you lost your job tomorrow and you can’t pay for your house. Is your house an asset?)

Published by Godfreykuma

Godfrey Kuma is a personal finance and business authority, who's inspiration has changed thousands of live and bring many from financial chaos to giant.

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