2018 is almost over and you may be one of the many people who look back at all the months that just slipped away and have gotten you the same spot where you are when the year started. A complete waste of time, right? But, you don’t have to be this way forever. Indeed, dreaming of good things to happen is free, but it will never become a reality unless you do something about it.
Ask yourself: “What do I really want in life?”, “What can I do to make my life better?”, “How can I make a difference?”. These are questions which could somehow help you get started. Sitting in front of the TV and watching all the YouTube videos about how to get rich will only be useless if you don’t follow any of the tips that you have watched. Similarly, if you just read this article and just look for another article to read, then you are just wasting your life away.
I am no financial guru, but being a mother has helped me make a little wiser when it comes to handling my finances. Let’s face it, nothing is ever simple in this life. All of us struggle at times. But, the beauty of it all is that we learn through these obstacles which become our way of strengthening ourselves. I do think that before you even reach what you are aiming for, you need to tap yourself with the reality of what could lie ahead while taking that journey.
Going Through Rough Times
If you are an ordinary employee, there are tons of things to worry about:
- House mortgage/rent
- Basic needs of the family (Food, clothing, health care)
- Children’s education
- Transportation Allowance
Being a minimum wage employee, it is likely impossible to make both ends meet. Therefore, having both husband and wife working will somehow help sustain the needs of their family. But what else can you do to get a step ahead and be worry-free? Look for something where you can make your money grow- start a small business.
A lot of times, people would think that they need to have thousands of pesos to start a business, but in reality, some of the most successful entrepreneurs have just started between Php500-1,000 and was able to make their business grow in no time. You see, if you believe in the kind of product or service that you provide, and you know for yourself that you have the skills and capabilities to make things work, then success is never far behind.
For instance, selling street food. Any business that concerns food is likely to flourish. Just make sure that you keep your food always clean to ensure safety and prevent diseases. It may not be a welcoming idea to some, but if you think well, it is a very easy business where you are sure to earn at least Php500 pesos a day. Not bad, right? Imagine how Henry Sy started being a small-time shoe store owner in Quiapo in 1956. But look how much his business have grown! It was not just luck, but, perseverance and dedication that lead him to where he is now.
When you have the commitment towards any business that you create, it is not impossible that you can earn a lot of profits from it. From being a street food vendor, you may also try elevating the kind of foods that you sell. And maybe in no time, you can become a caterer! You just need to have a clear vision of which way you want to go. Remain to be always inspired and full of hope that things will become different soon.
Always aim to become a much better version of yourself. Every generation should have an improvement. If you think you were struggling as a kid because both your parents were having difficulties raising you and your siblings, use your education to elevate your status in life. I feel sorry for those who seem to be content staying in the streets playing cards or drinking alcohol as early as 7 am and just spend all day doing nothing. We can’t be too choosy when we are looking for opportunities.
Simple Things To Help You Get By During Tough Times
Your family and friends may be there to help you when you need them. But should you always rely on their help? You need to do something on your own to get yourself out of the hole.
- Stay Positive. Always think that things happen for a reason and that whatever you may be burdened with is something that will help you be in at a much better place if and when you have started to do something. Always be hopeful and have a positive perspective. Things are easier to get done if you have such thoughts.
- Be Creative. If you are inclined to start your own business, think of something unique that would easily encourage people to try your product or service. Start with businesses that are highly in demand, and add a little twist. Consumers are likely to go crazy when they see that they get more than what their money’s worth. Create marketing strategies that would drive people to your business. Take advantage of the various social media platforms.
- Focus On What You Can Control. You can’t always have it your way. If things didn’t work out the way you want them to be, find a solution to get out of it. Sulking or blaming others for failed plans will lead you to nowhere.
- Be Grateful To People Who Has Helped You. Always remember that you can never do everything on your own. There are small people behind every huge success. And even if you have failed, you should learn to look back and acknowledge the help that they have extended to you.
- Be Kind To Yourself. You can only do so much. You can’t force yourself to work 24/7 just because you are trying to meet a deadline. Give yourself a break. Allow yourself some time to rest and learn how to delegate tasks.
Wealth Management Revealed
Getting through tough times is a sign of courage, and with that, it means you are now equipped with more self-confidence to get you going. If there is one thing that you don’t have to look back to, that is, repeating the same mistakes as you did before. Aim your eyes forward. Your goal is to be able to have enough money that will last throughout your senior years, and it is better to start it right now while you are still young.
- If your business is growing, that means the money is raking in more than you have ever imagined possible. Instead of keeping them all safe in the bank, learn to set aside some of the money for investment. Remember, investment is not the same as saving. Saving money is putting your money safe in a bank and wherein you can utilize the money whenever needed. Investment, on the other hand, is purchasing goods that are not consumed right away. These may be in the form of stocks, real estate, etc. You let the money stay for a number of years to make huge returns. Both savings and investment aim at earning a certain amount of money. However, with investment, it promises a much bigger return than savings.
- Never put all your eggs in one basket. This is a very common and very practical thought. If you have enough money to spend on anything, instead of booking for the next flight to Europe, why not start building a new stream of income? When you invest more, it means you earn more.
- Choose your investments wisely. Which would you prefer? A 10% return or a 5% return? For sure, choosing the former would mean that it can double your investment in just over 7 years, instead of the latter which can double after more than 10 years.
- Change how you live your life. Being able to earn Php200,000.00 a month should not mean having to take a monthly vacation and go to parties every week. Learn how to limit your expenditure and think that your hard-earned money needs to be in a better place than on other people’s hands or business. This would revert you to #2, invest and earn more.
Recommended Reading: https://selfhelparchive.com/money-management-starts-in-the-mind/
Become more efficient and effective when it comes to handling your money. Always remember that not everyone is given the opportunity that you have. If you do not put a value on what you do, then it is not impossible that the time you spent in building your business will slowly crumble due to your negligence.
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