The age line we actually start living is from 20s, so Investing aggressively in your 20s is a massive step toward building wealth and reaching financial freedom. Master these rules to stay financially ahead.
10 rules for financial success:
• Budget:
It is a tool that gives your hard-earned Money a job description before your feelings do.
When you prioritize your spending, it is difficult to buy unnecessary items.
A need is a necessity to live and function.
A want is a nice thing to have but not necessary.
• Become financially literate:
Many people are poor, not because they lack money, but rather because they lack financial literacy.
Understanding money will transform your life and save you from making costly mistakes.
• Invest:
Invest money before splurging on wants.
Investing is a way to pay for your freedom with money earned today.
To make investing simple and easy, set up automatic investments.
Start out modestly and build up as you see fit.
• Be with business-minded people:
Your ability to succeed and find opportunities can depend on the people that you know.
Spend time with ambitious people who have a desire to grow.
You'll gain a lot of knowledge and always strive to improve yourself.
• You can't save your way to wealth:
Saving money is a good idea since it provides a safety net and gives you access to cash if needed.
But money loses its value with inflation.
The best use of money is by buying appreciating assets that make more money for you. For me is (Crypto) 😍
• Cut unnecessary expenses:
You can only eliminate or minimize a certain number of expenses, however there is no cap on the amount of money you can earn.
Whether it is a side hustle, a raise, or a new business, earn more and spend less. Find ways to always increase your earnings.
• Avoid lifestyle creep
With social media, people want to be seen as affluent, the reality is that many are in huge debt and cannot repay it.
Focus on important things, live below your means, and invest your money, financial freedom is more important than possessions.
• Date/Marry right
Those we fall in love with has 70% influence on our decision making and this tells alot on us either in the positive or negative, so it's best to find a partner that compliment your kind of person.
• Create multiple streams of income
Nobody ever gets wealthy maintaining one stream of income but rather maintain 2 or more. If you're focused only in Crypto then diversify by holding tokens, trading, staking, providing liquidity, lending, ICO or you diversify to offline business of choice like real estate.
• Practice CPR
Consistency, Persistence and Resilience is how the wealthy survive through better days and rainy days and it is a must have attribute if truly you want to stay wealthy in all your dealings.
Become what you will be proud of as you make it a point of duty to invest in yourself. Remember that people can truly value you based on how valuable you have become by building yourself.
Don't forget to support my content with a tip. 🫶
