Introduction Of 5 Keys To Mastering Money And Preventing Money From Dominating You
5 Keys To Mastering Money And Preventing Money From Dominating You. That you can immediately surpass someone who has been playing chess for 10 years, worse still someone who has been playing chess for 30 or 40 years Those professionally are already in international tournaments because simply by the theme of experience and experience is acquired not only by playing well.
How Long Of Experience I Have Been With Money
But also by playing poorly, not only having success but also having failures making mistakes making decisions taking some risks the truth is that the younger we are the better because we can take those risks without being so impacted and so affected in our but independent of this we must know that in my current financial situation It depends on.
What is my experience and how long of experience I have been with money as such, many times it also helps the fact that I can learn from other people see how other people make their decisions surely analyze educational materials on the matter study tutorials and see quantities Of things in this we talk about financial education but whatever the practice and the time of experience surpass everything.
That is what happens that the vast majority of people believe that they know how to handle the money they simply do not listen when someone tries to give them some financial recommendation they think that just Being with knowing how to add and subtract, multiply and divide, they already have consolidated management of their finances, they do not know that.
The Second Key To Mastering Money Is Discovering
There are decisions that they could probably make because they do not know that there are decisions that could improve their income, reduce their expenses, and make their financial life much more prosperous It is not the only time. After all, there are people that we know who grow old and are in ruin but also to play.
The game to not lose but to win and learn in the process and hand in hand with the previous point the second key to mastering money is discovering what your time is to double doubling money is some of the keys that exist to become a truly wealthy person to maximize the power and leverage of your current money learn to invest in other words. You Can Also Read The Best Strategy To Get Out Of Debt Faster And Paying Less Interest.
Invest not it necessarily has to be as such in stocks or this or the other it can be to invest with at Through your own business investing in talent investing could be in a trust account in an investment fund or investing in a company that is emerging or it can be investing in yourself even in education but the truth is that whatever you are regardless of the point in.
The Strategy Of Applying Money To Me
Which you are in your life of what your income is your assets are not your assets but your assets you have money that you can start to use to double it we are talking about doubling it because regardless of whether you have $ 100 at some point if you work well you are going to have 200 how long does it take you doing those 200 having 100.
We talk about a month or we talk about 15 days or two days or 15 minutes how long does it take to double a thousand dollars or how long does it take to double 100 thousand dollars like the game like the one money is a game I must learn which ones we are going to develop what is my most important skill to start doubling my money In other words, the strategy of applying money to me should become a priority in my game and I then must know my doubling time in other words if.
I give you x amounts of money, small, medium or large, you should know how long you can double it if not you know then it is time that you start to prioritize precisely the necessary learning eventually you will come to know is the time and once you know what that time is according to the amount you can identify the opportunities to reduce that time and in this way is that you can amplify the maximum your wealth.
The Third Key To Dominate Money
The third key to dominate money is that the money must be in motion at all times leave the money under the mattress or stored in a savings account that generates practically no interest compared to other options or worse, leave it in a checking account that generates 0% interest because basically, it is losing value everyday p On the subject of inflation.
Inflation makes your money worth one, two or three, or even 6% less each year depending on the country where you are, so accumulating money the happy recommendation to save is a bad idea because you are constantly losing value What you could buy a year ago with $ 100 today is only enough to buy something for $ 98 or we are talking about similar amounts.
That must be in motion because being in motion can even allow you to generate employment, generate profitability, invest, learn above all, generate the experience of that experience that I was talking to you about in key number 1, the following key is really, it is a bit controversial because many times we forget that this element exists in the money equation and it is to understand taxes.
How I Earn A Thousand Dollars A Month
When we talk about how I earn a thousand dollars a month or ten thousand dollars per month or that such person won the lottery and it was 100 million dollars or any amount if what we never think of taxes we always think of the amounts as being free and there is no need to take into account anything else the truth is that whenever we have some income.
We will have taxes not only on what we spend if we talk about the value-added tax or the consumption tax or tariffs if we think about imports and others but also about our income tax the income tax that we have according to our categorization as such if we are employees independent of the investment business owners Capital annuitant etc.
We will always have a tax to pay and that will effectively make our profits lower in general or in other words I must count on my money after taxes and many times we do accounts, let’s say so, happy accounts thinking about everything. the amount we are receiving which for that reason many things today cost That’s because you always have to consider.
What Subtracts Money From My Utility
That paying taxes is part of what subtracts money from my utility as such and I after those taxes is that I can count on the money that is leftover so if I was a business I start thinking that I am going to put a price only taking into account the costs of production and services or anything else that I need to carry out as such the manufacture of that product or the provision of those services I do not take into account taxes after that is probably where I can stay in a return even with life having had sales and customers and movements during.
The year all this is important to take into account and it is also important to take into account how I can reduce my taxes legally since there are many ways and what better here is simply to get advice from a very good accountant or even a very good lawyer the next key is to become friends with people who know make money the truth is that many times there are people who start to earn more and more and more money but from one moment to another they return to that initial state.