Money is one of the most worthwhile means through which earthly success is measured. Money goes to those who understand its principles and create values that solve people's problems. To live a happy and independent life, you need money. That is why the book of proverbs 22:7 says “the rich rule over the poor, and the borrower is servant to the lender”. This goes to a large extent to show how useful money is.
Money does not respond to wishes but hard work. If you want to be rich are successful in life, there are certain things about money you need to comprehend. Our society is filled with a lot of intelligent people who are broke today simply because they lack the proper knowledge about how money works. Financial intelligence is more vital than money itself and that is why everyone needs it. That is why we must all contend for it instead of chasing money alone.
Some mistakes everyone should avoid making with money include;
1. Avoid spending all you earn
This habit can destroy you and make you unsuccessful. This is one of the major problems so many people are facing today because we are all driven by this desire to show off and leave beyond our means of income. There is no way you can get rich if you spend all you earn. How can you get rich when you earn N30,000 a month and you are spending above N40,000 in that same month? Remember you have a future to build and not a society to impress. Even before investing, try and save some of your money because that is what you can fall back on during hard times.
2. Save before spending
Saving some portion of your money can amount to something wonderful over time. If you want to be rich, you need to find a means and save before spending instead of saving what is left after spending. Once you fall into this trap of always saving what is left after spending, you might be coaxed to spend all your income. This is one of the super secrets of the rich and you also can adopt it if you want to be rich. Spending all your money on luxuries is dangerous and can make you go broke.
3. Find a means to invest
One of the super secrets of the rich is that there spend their money on assets. Mark Zuckerberg (co-founder of Facebook) will always say “ it is a risk not to take a risk”. Money always goes to those who are ready to step out of their comfort zone to struggle for it. Always find a means to make your money work for you. When you invest, you send your money to make more money. Investing is a sure way to build your asset and this is what rich people do. Warren Buffet became a billionaire just by investing in the right business at the right time and you also can do the same. It is also important you seek adequate knowledge about an investment before diving into it so that you won't regret it.
Everyone should adhere to the tips of this article.
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