If you won a million dollars what things would you change about your life?

1,393 Views Updated: 26 Jun 2018
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If you won a million dollars what things would you change about your life?

Do you ever feel like your money slipping out of your hands or your wallet even when it is still with you? The joy of a salary is always quickly washed away by the ever-present thought of electricity, fuel, rent and all the other living expenses leaving you penniless until the next month end. Or maybe you never seem to know where the money you make goes every month.  So, as someone who has been listening to what the money ‘Guru’ has taught me, I will share those valuable secrets with you.

 
A. Your expenses should not be more than your earnings: This is the simple income vs. expenses rule. If you make 100 dollars (or your country’s equivalent of that amount) and your groceries, transport, rent and other expenses are 70 dollars, then you’re on the right track. If your expenses in total cost 100 dollars or more, then you will always be broke and will never make real wealth. Make all the cutbacks necessary, do away with all the necessary luxuries until you can afford it and still have enough for a rainy day. Fast food visits, cinemas and trips with friends are a luxury you cannot afford without proper fund planning.  Those ‘necessary’ visits to your friend’s place or your aunt’s place every weekend may be hurting you more than you know, try saving the money you would have spent on fuel/transport and ‘sweets’ for  nieces, nephews, cousins – or your girl friend’s spoilt younger brother for a reasonable gift at Christmas or Valentine’s day.

B. Understand the distinction between wants and needs:  Needs are the basic necessities of life and wants are things we want that makes us feel better about ourselves. Spend your money on things that can get you more money, like using savings to start a little business on the side or get training; not things that take money out of your pockets (liabilities) like a car – unless you can afford it, iPhone, frequent airtime, better clothes, a bigger house…


C. Spend thinking about the future: Save for a rainy day may sound stereotyped, but that is because it holds good. If rain does not fall in your part of the world, let me put it this way, gather savings consistently over time for the day of drought.


D. Consistency is of the essence: Most people start off on a financial good foot, only to return back to square one when discouraged. Little drops of water do make a mighty ocean when it comes to money, you just need to hang in there and keep gathering savings and investing your profits as they come and not quitting when things go wrong.


E. See yourself as a money tree: I know, you may not be anything close to it yet but before you go on about how broke you are and how money doesn’t grow on trees, hear me out. Trees need nurturing to grow. No matter how small or tall they are, they keep growing. Always do everything you can to improve yourself, learn everything you can about money and keep developing the skills that enhance your income. No matter how rich you are, keep trying to be a better and richer you.


F. Be your own cheerleader:  Every millionaire who did not steal his money or win it in a lottery if encouragement is the words you tell yourself. When you feel down, people do not always come rushing to pick you up, so you must always learn to encourage yourself and keep marching towards earning wealth no matter what life throws your way.

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Posted by: Trailblazer Posts: (28) Opinions: (120) Points: 2,930 Rank: 39
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