10 Easy Tips & Tricks to Earn, Save & Multiply Your Money Fast
Money is what we all want, either to survive or have freedom in life. Money makes our life easier. We all wish to be rich and happy. There are different ways to earn money, but the real game is on: how best you utilize it. Having money is not enough, you must know the trick to utilize it on the right thing and multiply its number. As we all know that money attracts money, so here are the few tricks and tips on how you can save and increase your money:
No.1 Record Your Income & Expenses
Have a personal financial journal to record your monetary transactions so that you can analyze and track it, later on, to cut off unwanted expenses. This will help you to check your financial history and helps you to take the right decision in the future.
No.2 Do not Freeze Your Money
Saving does not mean putting it in your cupboard safe or in a bank. The real meaning of saving is to put your money on assets like stock, bond, silver, gold, land, or lend it in interest or invest in some businesses. When you save your money with you then you are freezing that amount, which deducts its value with the inflation rate in the future. Instead, you should invest that amount in such assets so that you can multiply its number in the future.
No.3 Triple Your Learning To Double Your Earning
Let’s take an example of CEO and Cashier of the bank, both of them do 9 to 5 jobs. But the CEO is paid much higher than the Cashier, because of the value that the CEO is providing to the bank. So in order to provide value, you must increase your value with the knowledge, skills, and qualifications. Develop the habit of reading, observing, and learning at least one new thing every day.
This is not an overnight process, it takes time with your changed lifestyle and habit of learning. With today’s learning, after 10 years you get the confidence to have your own business, investment, and double your income instead of having some rise in the salary. So, start the habit of learning, the sooner you start… the sooner you see results.
No.4 Do Not Spend More Than You Make
Some people have the habit to spend more than they make in order to look rich. For example, borrowing money and spending on goods that depreciate soon, instead of saving and investing in assets. Even some people own a car that they can’t afford or there are some people who own a home they can’t afford. Such people will never get rich, as their income goes in paying the interest that they have taken, for the rest of their life.
Stop Showing off.
No.4 Stick to a Budget
To meet your financial goal, you must stick to your budget. Before budgeting, you must record how much you earn every month along with your essential and non-essential expenses, then subtract your expenses from income, instead of going on the minus, try to have some remaining. That remaining amount you can save each month to invest and generate more money in the future.
Rich people budget 25% on needs, 10% on wants, and rest 65% on investments. Whereas average people budget 40% on needs, 55% on wants, and 5% on investment. So, stop making any kind of excuses, blaming others, and impressing people; better to set achievable goals with organized finances.
No.5 Create Multiple Sources of Income
You can never get rich with your 9-5 job’s salary. Multiple sources of income like rental services, stock market, part-time job, google ad sense, selling products like books, courses, investing in several businesses, owning land (appreciation on value).. can help you to increase your assets.
“Having one income source is like taking public transportation. You’ll get to where you need to go but not on your time”. Thus, a single source of income is only enough for the operational cost of survival, so it’s better to have multiple sources in order to save and multiply your money.
No.6 Take Advice From Right People
Never take advice from people who are broke, you will never find real strategies to make and utilize the money properly. Instead, learn from people who are living how you want to live. However, during this process, you must be patient and willing to make money.
No.7 Have Entrepreneurship Mindset
Building a business takes a lot of time and hard work, so people choose a job. Those people will work 10 years for minimum wage, but get mad and quit their own business $10,000 a month in 30 days. So they go back to the minimum wage for 40 years. This is the mindset we have to change because there are no shortcuts, nothing will happen overnight.
No.8 Avoid Debt
Spend less than you earn. It is said that poor pay interest, rich earn interest. That’s why you do not purchase things that you can not afford like houses, cars, branded products, and other luxurious stuff to show off people. If you do so, you will have to spend your life paying the mortgage of the house, EMI of your car, and interest for your loan. Also, do not misuse your credit card.
No.9 Believe in Yourself
Train your subconscious mind as rich. You may not believe it, but your thoughts can affect your life. The Law of Attraction really works to bring your thoughts into reality. To become rich, you must be aware of your thoughts you have about money, and if you find any negative thoughts, you need to change them ASAP.
Believe yourself worthy, so that you can promote yourself, your services, and your business. You need to believe that you genuinely have a special gift and talent to offer the world, that will help you become rich. Anything is possible. But you need to believe that before it happens. Also, you must be grateful for whatever you already have, being happy for rich people, and loving money (also being happy for paying bills), and have the vision to be rich with full commitment and dedication for doing whatever it takes to make money.
No.10 Luck is a Myth
Luck comes to those who deserve, and deserving are those who work. So start taking action. Your today’s actions determine your future. Do not be a couch potato watching Netflix expecting to be rich overnight from the lottery.
Being rich is not about luck, if a child born in a rich family, he is lucky to be rich if he can utilize his money smartly, else in no time he will be poor. As money comes and goes, its like the dirt of your hand.
However, some people say, “Money can’t buy happiness”. But money will surely pay for vacations, lunches, dinners, cars, houses, parties, education, medical bills, and what you want more? And does not this give you the happiness you want? So, make yourself capable to attract more money and learn the art of using and multiplying it to be happy, rich, and successful in life.