and shops are full of advertising about low-interest loans. But, as a rule, very few people notice an almost imperceptible asterisk next to this “low” percentage *. Or they just do not want to notice. Loans are the worst thing you can do to get money. Not only will you have to give the bank/store the lion’s share of the money you earned, but your emotional state is unlikely to be the same. A study was even conducted about this: people who take loans feel unhappier than those who do not take loans. So, it is better to borrow money from a friend (if, of course, you are going to give it away). And even better – to suffer and collect the required amount alone. After all, banks live at the expense of loans and commissions. I prefer to save rather than fill the pockets of those whose pockets are already full. In addition, imagine for a moment that you took a decent loan, but something happens to you. You need to be realistic; sometimes, bad things happen too. And the government, in this case, has its own solution. They create laws according to which all debts are “inherited.“Therefore, think about your relatives, and consider carefully all the pros and cons before taking a loan. And if this is a matter of life and death – read the contract carefully and completely when you make a loan.
11. If you work for money, you give power to an employer. If your money works for you – you have the power and control
We have the right to choose – to become a gear in the mechanism or to control the mechanism ourselves. I think it’s worth at least trying to start your own business. Then you can manage your own life, decide when to go on vacation and where to invest your profits. You say – you need initial capital. Yes, initial capital is really needed. But think: American entrepreneur and restaurateur, Ray Kroc opened the first McDonald’s as an ordinary traveling salesman. At that time, he was 53 years old. Therefore – start with small things.
12. Knowledge is power.
I don’t mean the knowledge that we get in school or university (although the multiplication table and foreign languages are really very important). I mean financial literacy. Imagine that a document in French about the collapse of Corporation X being prepared for tomorrow, whose shares are trading at $500, fell into your hands by chance. If you are a smart person, and you know French – you will go and immediately put a tidy sum on lowering the price of shares of this Corporation X or sell them if you have them in your portfolio. If you have no knowledge, you will throw such a document in the trash although it could make a good profit. And money is power. I’m exaggerating, but you have to understand the point.
13. Do not buy liabilities. Buy assets.
Assets are a business that does not require your presence (not a job!), stocks, bonds, open-ended investment funds, real estate generating income, IOUs, royalties and intellectual property (music, photos, illustrations, books, patents) and other material values (which can be sold profitably). After all, an asset brings luxury items. First, acquire an asset and then – luxury items. You cannot be a slave to money; you need to be its master.
Liabilities (not to be confused with a passive source of income) – this is what takes money out of your pocket (car, house).
And indeed, people buy cars and houses, thinking that they have acquired assets. In fact, they buy liabilities. And the reason for this is the lack of financial education. After all, calculate how much you need to spend on gasoline and car repairs per month. And how much you need to pay for utilities, minor repairs (after all, the house is constantly breaking something), how much you need to pay property taxes…
14. Be smart, and no one will get the better of you.
Remember that an intelligent person will always win the argument; an intelligent person is harder to mislead. Being smart does not mean knowing everything. Sometimes, it is enough to know the techniques of conducting a conversation to be able to recognize the non-verbal signs of the interlocutor. And for this, you need to read the relevant literature.
15. Do not underestimate yourself.
Get used to the fact that you are an irreplaceable and unique person. Modesty, of course, is good, but it should be in moderation. Don’t be afraid to ask for your product/service. If you don’t value yourself highly, then no one else will do it for you.
16. Do what you think is right in the depths of your heart.
The advice of family and friends is undoubtedly important, but it should always remain only advice. Do not try to please someone. We have one life, and we need to live it the way we want it. What is the point of doing what we don’t like all our life? Besides, whatever you do, you will still be condemned.
17. Do not say “I can not afford it,” say “how can I afford it?”
Indeed, you cannot give up if you are in financial difficulties. It is necessary to look for opportunities and achieve the goals set by any efforts. And it is necessary to learn to achieve everything on our own and not to expect that everything we desire falls from the sky.
18. Invest in your education.
Learn languages, buy a useful book, watch a video lesson, attend lectures, business seminars (by the way, there are many free seminars). Learn to choose the important and prioritize. Start faster. Practice but move slowly.
19. Choose friends and partners carefully.
Unfortunately, now is a time when people will do anything for the sake of money. Therefore, be attentive to your business partners and the environment. In this case, perhaps you need to listen to the advice of relatives. They have more experience in life, and they can recognize the scoundrels better.
Also, try to avoid negative people in your life. Yes, sometimes we all have difficulties, and in such cases, we need support. But there are people who are always unhappy with something, who always have problems and who always complain. So, try to spend less time with such people. We do not need negative energy. In addition, it is desirable to communicate as much as possible with successful and wealthy people. They can teach you a lot. Limit communication with those who will pull you down.
Success can be attracted by becoming better and attuning to the positive.
20. Do not get into debt.
Debts and loans are pits and traps from which it can be very difficult to get out. Learn to cover all your expenses yourself. Get first of all what is really necessary. Paying your latest iPhone by instalments and then only being able to buy bread and water is foolish.
21. Find a hero you would like to be like.
I do not mean Superman or Batman but real successful people. This will be a good incentive for self-development. There will be aspirations and goals which will be easier to achieve.
22. Whenever something is missing, or you need something, first give what you want, and you will be rewarded a hundredfold. This applies to everything: money, love, friendship, etc. I have tested this on myself more than once.
23. Stop doing what doesn’t work.
Look for new things all the time. Study, offer, conduct negotiations, accept offers.
24. Everything good and new will be attacked and criticized. Get ready for it.
Perhaps after reading this book, you will want to share its contents with family or friends. But do not expect they will understand and approve your decision to start. People are afraid of new things, especially things they don’t understand. It is much easier to continue
