Previously we saw that the secret to have a golden touch – money making hands is to have respect for money. In this continued series we will be looking at some of the most important ways we need to adopt to make money.
Money is so sensitive that it repels against wasteful hands. To develop a golden touch – the magnetic attraction on money, you need to follow these simple but important ideas.
Keep your money in a bank account
Don’t move around with money stashed in your pockets and wallets to just feel good about it. If you do this you are likely to be spending a lot of money on things you had not planned for. Discipline yourself by having the money you don’t need to spend remain in your bank account.
Make a budget.
When you receive your pay check, don’t rush to the bar for drinking or unnecessary partying. Draw a budget of the most important things that you need to do with your money. Always think twice before you buy a new item. Ask yourself whether you really need it before you spend on it. If the items you already have are serving the purpose or don’t need replacement then you’d better save your money in the bank to gain interest or invest it with stock market or an investment of your choice.
Avoid unnecessary spending on friends and relatives
Although it is good to live generously, you need to know that you cannot compete with International monetary fund or the World bank, on how much money you can allocate to relatives, colleagues and friends in your life. Well, if you must give, do it wisely and out of a real need. You must be responsible with money or you’ll never know its full benefit. Make sure your money first meets your needs and if you are a family person you’ve to make sure that your family’s needs are met first, then save the rest for the dark night. Of course you don’t need rocket science to know that you ought to go for a bucket when it rains gold.
Avoid unnecessary borrowing
If you must use your debit and credit cards, you need to do it wisely or throw them away, if you can’t help overspending. Live within your means instead of always borrowing from friends or buying by hire purchase.
You don’t need to win a rotary or a franchise to make good money. You only need to respect the much you have and within no time you’ll grow hands for money – those with a golden touch.