Thought of the Day: May 16, 2018 – Financially Bold
Are you financially bold? What does that even mean?
I believe it means you have the ability to understand finances and take the right steps to capitalize on future trends and make more money.
Every day you will either make money or you will spend money. Some people have learned how to spend money to make money. I believe most of us are looking to be in this category.
But for most people, at the end of the day, they are hoping they will make more than they spent.
We all know, the more you are able to make and keep, after taxes and expenses, the faster you can move towards your financial goal. This is being financially bold.
Having a positive financial attitude requires you to understand how money works and what money is.
Money is away for people to attach value to something. You trade money for that item. Better yet you trade your hours of blood, sweat, hard work and time for that item.
With the internet, and how easy it is to invest and get into business, you need to be financially literate. If you don’t understand money, how can you have a positive attitude towards it?
Many great books exist on being financial literate. Read about people who have knowledge about money.
Most of us have traditional sources of income. We work 9-5. Get salary or commission. We have money in the bank and in investments. Some of us invest in real estate, while others invest in assets.
What is your attitude towards money?
If you have bad habits with money and do not change those habits then your attitude towards money will not change either. You can’t become financially bold.
Where do you spend your money? What do you purchase with your money?
The sad truth is, many of us do not think about what our money is doing. The rich on the other hand do thing about what their money is doing.
They have a plan for it and they know how their money will make money. They have a good idea of how much and they have a plan for the investment profits.
When you start to see your money this way, your financial situation and attitude will increase.
To become financially bold you can seek the help of a financial advisors but make sure you understand what your money will be doing and for how long. Listen to what is being said and what is not. Do your homework and invest the risk is right for you.
I think it is our job to teach our children about money from an early age. The school system will not. My dad thought my sister and myself about making safe investments. We remember and use these simple principles and stayed out of debt for most of our life.
Once you take time to understand money and how it works, you’ll change your attitude on how you view money. The more you associate with people who understand money, the better your ability will be to create a positive changes in your life.
Founder and CEO, Discover Your Life Today
Maveen has built his career in Banking, Insurance, Home and Automobile Sales. Providing exceptional customer service is his passion. Writing is a way to share his knowledge and help change the lives of million of people. Like the Facebook Page to support him.