Money hacks that are common sense but people choose to ignore them:
the main functions of money are distinguished as a medium of exchange, a unit of account, a store of value, etc...
To make money you need to get a job, work on the internet, make your own business online, and so on. there are more easy ways to make money nowadays that weren't available before but now you can almost find ways to get an income.
But the catch is how you manage that income, coz no matter how much money you earn, you need to be smart about how you spend it, especially with the modern age temptations. we are surrounded all over the place, whether on social media, mainstream media, web, and supermarket, and wherever we go you'll see a billboard or an ad about some product.
No matter how much careful you are, you'll find yourself buying something you don't need.it is called an impulse purchase which is defined as an unplanned purchase by DuPont buying habits study from 1948 to 1965. the definition was from there updated to be expressed that impulse purchases are the results of one's own need to satisfy their wants in competition with their own rational and self-regulatory ideologies. an increase in impulse purchase is linked also to the rise of materialism, which causes people to splurge or make an uninformed purchase.
From all of the above mentioned, we deduce that we should find ways to control the stream of money in every possible, I searched and experimented few of them and I strongly believe that applying just a few of them will make a strong impact on your life, in a positive manner of course.
So, here goes your dose of knowledge that should make a difference and alleviate you to a whole level of financial freedom.
- control your finance:
if you don't educate yourself on ways to manage your own money, you'll always be dependant on someone else help. the first thing you should know is, that finance is not that hard. if you take time to look online and read books about personal finance or follow financial bloggers that lay it to you in simple terms. then you'll be able to start your journey feeling safe about where things go.
- invest now:
the sooner you start investing, the more wealth you build. grow financial habits such as save first and spend later. increasing your investments as you you progress financially, diversifying your portfolio. one thing for sure is, the fewer dependencies or overheads you have the easier it is to take out a part of your income for investments.
- spare money for an emergency:
pay yourself first is a great strategy to follow for personal finance. this means that you should save a small amount of your salary for emergencies. ideally, it should be like six months' worth of your salary. creating separate buckets of money for future projects may keep you motivated and get you good saving habits.
- organized your budget:
you should keep track of your expenses, to help you organize a budget and forecast better. this should be easy, as with today's technology we have apps on ios or android that help you manage your budget and let you keep an eye on your income and expenses. there are many ways online to do this task and the internet is a garden of knowledge, look and you'll find. one more thing is that you should always review your budget and revise it if needed. keep things flexible as your income grows and your financial situation changes.
- Health is wealth:
always keep in that your health is precious. putting that aside means you should invest in your health as well. enrolling in a gym to keep fit is a good start, building good habits about nutrition. what you eat you eat daily impact your health and also influence your brain chemistry. you should show your brain and body that they matter, treat them as you'd do with a baby, with the utmost care.
one other thing, choose a robust healthcare insurance plan for you and your family(if you have one) to secure your medical needs in the future.
- A few ways to diversify your income:
blogging: make money online, by making a blog whether on Blogger or WordPress and monetize it by using Google Adsense.
pod: print on demand is high-paying online work, you can make your own designs and use them to make t-shirts or other products like clothes, posters, stickers, and a lot more.
to start your print-on-demand business, you need to use platforms that provide this service.
you have many platforms such as :
- merch by amazon which gives you exposure to millions of clients so you can sell your designs, visit their website from here
- Spreadshirt is also print on demand platform you can use to use your designs as well, visit their website from here
- redbubble , visit their website from here
- Zazzle is also a good choice. visit their website from here
vlogging is also a good way to make money online, by making videos and putting them on youtube or any streaming platform or social media.
I mean there is a bunch of ideas to use to make a profit from your talent or sometimes your hobbies, you just to apply yourself and engage in a positive manner coz nothing is impossible, you just have to start.
- Conclusion:
I took the liberty to give you an idea about how to manage your financial life and I thought why not put you on track about how to have an income as well, I guess it is not much but it is a start.
also, having few income streams wouldn't hurt, isn't it, so there you have it. start today and don't get hold by anything coz life waits for nobody
so. to sum things up, financial education is not part of the high school syllabus. nevertheless, it should get the utmost importance in your professional and personal life. by taking charge of your personal finance, investing as early as possible, saving for emergencies, staying organized, and all things mentioned above, you should be miles ahead of anyone who might get the same salary or even more. always stay focused.
have a good day
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