Everything is a game, and someone needs to be a player. We’re talking about ‘money’ as the game and ‘you’ as the player. Not the other way around.
Remember the day we received our very first income. You might say, it’s not much that’s why it’s safe to say that you’ve spent it with the necessities and wants at the time you got it. But if you try to put them all together, can they add up to hundreds of thousands or even half a million dollars? As the years go by, how much is left in your wallet? Here’s how you can play the Money.
- It’s important to accept that earning money is a game. And just like a game, if you spend time playing and learning how to win, in the end, you’ll succeed. Same goes for earning, if you keep trying (even though you may fail at times), sooner or later, you’d learn how to succeed in earning more.
- Change the way you think about Money. Don’t be such a hater! Money is not at all bad. In fact, it helps us to provide for our necessities and if possible, so does our wants. You’d be eager to earn more if you change the way you think about it!
- Keep on Doubling! Listen, I know why you’re here. It’s because you wanted to learn more about money in order for you to earn more. And you’re not the only one! There are two things to consider in doubling your game: Risk Tolerance (how many more risks and challenges are you willing to face?) and Time Horizon (how soon can you double your money).
- Timing! This is the part where you would know (in your place and in your position). You can observe, examine, consult, and ask yourself, “When would be the best time?”. When the best time to invest, to buy, to stay liquid, and many more to ask.
- It should stay Active! When you just put the money in one place, without gaining (or even losing) some of it, it would just get boring. It won’t do anything good to you. But if you try to play the money, invest more, circulate it, then money would do you good! Don’t be afraid to take risks yet don’t be such a gullible money-holder.
- If possible, create a Secret Account. Nope, it’s not an emergency fund. But rather, a crisis account. If you go bankrupt, at least you saved an amount ready for you to take over once again. But no one should know about this but you! Just you.
- Don’t spend too much when you started earning high. Even if you can afford to travel around the world, eat to fanciest restaurants, buy things that not everyone can purchase, don’t be an impulsive buyer. Think if it would be worth it and if it really is needed. Always be wise!
- Create a Compensation Plan. This refers to the package to be given to your employees. This includes the salary, wages, benefits, and incentives that are available and that you are willing to provide. On the other hand, if you spend too much, make sure to get familiar with Taxes. Study how to earn interests, get incentives, and how to earn and benefit from the tax.
- Observe and Follow Smart and Successful Investors. Follow their journey. Try to adapt to their lifestyle, habits, and routine. If they read a certain amount of books with specific titles, do so too! Learn the way they play the money and their way of thinking because that’s the key as to why they become successful financially.
- Focus on your game, on your journey. Everyone has their own goals and plans created. You don’t need to compare yourself and your earnings to others! Let’s say that you’re goal is to only earn a certain amount while for others, they wanted to become millionaires, if not, billionaires. They want large projects and fast-pacing while you can keep it slow and take one step at a time. Everyone has their own time horizon, follow what’s applicable to you.
- Befriend Financially Successful People. They would be the best influence on you as you try to achieve a certain amount of lifestyle expenses. You’d learn how to earn more money and be passionate in doing so. Create a strategic partnership. If you feel like you’re left out and getting below, this type of friends would urge you to do more. Just make sure you really know and trust them.
- Leverage. Not the financial leverage where you can go under debts. But your power to influence people or a situation that could potentially help you gain more support, expand your market, get more customers in a short period of time, and increase the speed of your business’ growth.
- Position Yourself. Set your mind to position yourself in any activity or position in a company. Position yourself in participating, in owning something.
You might say it’s close to our other articles about “Important Rules of Money that No One Talks About” and “How to Double Your Income”. It’s true, but the point here is repeated over and over again. This would help you to remind yourself about what ought to do with money and whatnot.
Whether you’re a new entrepreneur or not, these articles will help you to play with money, earn it right, spend it well, and keep it in circulation.
