Topic: How to developed your capital - page 10. (Read 1386 times)

This can be viewed from two different perspectives:

1. THOSE WHO EARN SO MUCH YET HAVE POOR SAVING CULTURE:

I. Avoid habits and lifestyle choices which trigger unchecked spending.

II. Prioritising healthy habits and giving attention to activities that promote healthy living to enhance a healthy state and prevent dilapidated health thus, exorbitant spending on drugs.

III. Not spending above your earnings; embarking on financial choices that don't promote a spending spree...

2.  THOSE WHO DO NOT EARN SO MUCH:
Sometimes, society views poor people as those who don't have a saving mentality. The thing is, some people earn below their means. As such, the ability to save is impossible. However, these steps can be taken to prevent consistent poor income:

I. Learn the principles of investing

II. Earn to invest and not earn to spend

III. Saving the little you earn regardless of the quantity

IV. Creating time to learn regardless of how hard the timing might be.

It would be useful to see such guidelines based on your personal experience. Did you find it on the Internet? Have you tried to live according to such rules? Have you had any success? You must understand that what you try to teach here works individually for each person. The theory will be theory, but when we come to adult life, everything becomes much different. To admire rich people, he will give nothing but the origin of envy and the statement of their own complexes. All other points also have a dry assessment without personal experience or sincere advice.
You ask if this is useful. No. We can read on the Internet; there is much more information. What can you say about yourself personally? It will definitely be useful.

Maybe I can ask you back

Which kind of method do you want to work it out for your capital.


High risk high gain ?
Ex: Stock, forex,  own business

Or
Low risk low gain?
Ex: bank's interest

I find that not a lot of people understand the concept of interest and also the 5th wonder of the world, namely "interest on interest" I had a bond for many years and I get interest on all the "extra" money that I paid into the bond.

I also left the interest that I received in the bond account and managed to receive interest on the interest that I received. This built up very quickly and I managed to pay off that bond, 6 years before I should have paid it off... just based on that interest and the base amount being smaller... on which the Bank charge interest.  

I agree with you; spend your profit when it comes from your investments and also learn how to manage your money so that you don't waste it on things that aren't valuable to you. Many young men in today's society have no idea how to manage their finances, both financially and otherwise. Many young men today don't view money as something valuable again; rather, they see it as something you spend and God will provide another one. This is why I said they don't know how to spend money because some people will do so even more than his profit and forget that he will invest another time, and they don't know how to make money because some people don't know the time of business he will do to make money.

Second, it's crucial to invest money in meaningful relationships because they will improve your life and be patient with you even when you don't have money again. This is because, for some reason we don't fully understand, people won't value you if you don't have money; only your family will; however, as soon as you become successful or God has blessed you, you will begin to see them from different angles, even to the point where you can't afford to see them anymore. So what I'm trying to convey is that no matter how successful you get in life, never forget your family because they will always be there for you.

Yes, that's right, and that becomes our encouragement in investing and of course with regard to take profit it certainly varies, depending on each individual's basic capital. At least, we are not alone and we are always informed quickly along with the fast pace of information development as it is today and what the OP said above is also good, namely the stages of How to develop investment capital, especially for young people today who are proficient in technology and are still not familiar with it. proficient in investing in the money market and I was impressed by your words namely "learn to have fun and enjoy your money when and while you can" Don't Buy the Dips but buy the Strength after the Dip

We all know bitcoin is a potential investment and can be highly profitable. But also should not be addicted or crazy to the point of having to quit eating or reduce spending on daily needs to invest in it. There are so many ways to increase wealth, capital, why don't we work harder but torture ourselves just to invest in bitcoin? I hope they only torture themselves, not force their wives and children to give up eating to invest in bitcoin. Many people are considering bitcoin more important than their wives and children, it's scary.

being young is indeed a normal thing where money seems difficult to collect, because it's still the time to have fun let alone have your own income, and there aren't many needs that are borne, but indeed we must immediately wake up to see the future, so don't waste it waste youth for a better old age. for young people I think investing in property or houses is a top priority, besides investing, we can also prepare for our family life later, especially if we are men

I think the main problem is that many of us are not wise spenders. We spend so much on things that don't matter. We are impulsive spenders. We have a distorted sense of priority. People don't care about savings for as long as they have a nice smart phone whose features they can't even maximize. People dream of a good amount of savings so that they could start a small business, but they also can't stop themselves from buying a lot of unnecessary things.

I have a friend who's always complaining about how hard life is, about how badly she wants to stop working, if only she has a small fried chicken business. But she has a couple of expensive phones, accordingly as a gift to herself. She spends much on unnecessary food and drinks. How can we develop our capital if we're like this?

most of your tips are related to gaining knowledge, and I am 100% agree with that. there is significant difference between people who know and people who don't know. tips from me if someone wants to build their own business or invest in other people business are these, please consider these things:

1. Product (What's product that people need or want)
2. Price (Where is the best position for us, being market leader or follower)
3. Place (The location where the business operate, offline(a product may have different price if its being sold in different place) or online)
4. Promotion (What is the marketing strategy that we do right now to increase sales)

Always do an analysis before making decision.

Other than what you described above, Emotion control is a big problem for young people to try to develop their capital. I often see them always panic when seeing the market unexpectedly. The youth is also very easily impressed when they see and read bad news in their investment and immediately change direction to another instrument. it's so bad when they compared also in their main work thus causing to be neglected and going to bankrupt when they sold also their investment.

the youth is not left alone, they should be given good direction, they need a manager to manage their investment if don't have the knowledge to manage all life.

This goes down to the point of learning financial literacy and thirst for knowledge.  Having knowledge about cash flows and understanding it makes us to have a right critical thinking on how we spend our hard-earned money.  Although savings is good, we will find out that investment is way better because it creates more money than just savings.  Investment is also a counter to inflation while saving the money and getting it idle will succumb to inflation in the long term.

Aside from that, invest in ourselves, in investing in ourselves, we will keep in growing and motivated because we are able to do things we like, know thing we like, and know how to achieve what we like in a healthy mind, spirit, and body.

Be that as it may, there are people who admire other people's success, but yet they don't still try to be reasonable and archive a better thing in their lives. Why?  They are only happy in their minds about what others are archiving, but they can't get close because they just don't have the determination to do so. Some people find it difficult to invest, probably because they don't even know the right investment to make; all they want to do is enjoy life.

One thing I have come to realise is that some people who mismanage their money are those who totally lack financial education because they have the opportunity to get enough money, because of the steady inflow of their income, they lack proper management of funds because they believe they will still have a steady income flow without remembering that they need to also invest in other things or even start a business that can also sustain them when other income sources cease. First, any kind of person like that should seek proper financial management education from economic and financial experts.

One of the biggest factors is, after you've read all those financial books and insights, actually putting that knowledge into practice. Nobody becomes an expert overnight, the people that are making big money now are those who took risks and made mistakes along the way. Often the best way to learn how to master something is by having failures, then gradually learning what parts to tweak so you hopefully have less in future and more winners. You also need to take the right strategy, which is often trending towards long term investment these days and not trying to search out short term gains which are much higher risk. Avoid leverage as well because it can be disastrous when it goes wrong.

Among those 8 points mentioned then this is what i do really mostly been focusing.
8. Save, invest and take good care of your health.
 

Just focus on this one, then you should really be fine. Investment does have risks, but its not something that would really be hindering you on getting involved with it.Of course next you would really be
needing to save up for future use and other emergencies or other investment that you would be putting up and the most important of all is taking your health on best possible as you could knowing
that health is wealth. There's no use or would be pointless if you do work hard but you had already compromise your health and condition of your body on earning money because
those amounts would really be just simply be used on treating yourself into the hospital.

We do have our own ways on how we do handle ourselves in terms of investment. Lots of  trial and errors would be done and its something that would really be that so common
kind of goal which is to succeed but we know that not everyone would be able to taste up this kind of condition which there are ones who do succeed but most of us would definitely fail.

What I want you to understand concerning investment, actually investment is good but thing is that when investing don't think that your investment is going to yield at that moment or whatever investment you venture into will give you an income immediately, investment is what we venture into for feature purposes, because not all investment plan that yield positively from my understanding of cryptocurrency even any other investment.
So in the aspect of don't spend whatever you have, I think you are right in your point particularly this one, because some be have been devastated and been discouraged because of they expenses is equivalent to they weekly and daily income. Another point is that, reading a financial book will not make you to make money or been reserved in terms of money management, what make people to have investment plan is exposure and mindset of development and future plans.

I don't believe that when people don't work hard for money and they get that they will useless it because they didn't work hard for it or that they won't value it, no. I think there are many factors leading to such loss. They could be too young to know how to manage it and that is why money management is important in financial growth. Even adult who don't have that discipline to manage money hardly controls it. When you have the management gift or skill then you can invest. So the two points for me is money management and investment , those are what helps to develop capital.

Of course, it's helpful to people who have some capital... but before the problem with "what to do with my capital" is always "how to get my hands on some capital"! In theory, it's easy, but in reality, not everyone can make money, with small or big capital. So stories about how someone made a fortune from some small amount happen here and there, but not to everyone, and not all the time... that's for sure.

So how to develop some capital is a million-dollar question... The answer is different for each of us, but it's not all about making money. Money needs to be spent if we wish to enjoy life and the world around us. Finding a balance can be hard...

It is important to strike a balance, we cannot be wasteful but it is also a mistake to stop ourselves from enjoying something that we really want simply because it has a cost associated with it, as long as someone is saving a significant portion of their pay and they do this consistently then there is no reason to not enjoy some of that money as well, however it seems that most people are unable to reach that balance and they have to live in one extreme or the other.

You may think you are advising youths to know how to save money or something similar to what I said; however, are you going to save money or invest when you have financial problems to cover up? Nah, mate, you cannot. Some youths today are the ones feeding themselves and their families. How did you expect these people to cope with their finances? This doesn't have to do with hard work or the fact that many people are working to see them survive, but still, these people do not have enough resources to meet their needs. When you are in a country where you are struggling to eat your daily meals, when are you going to think about investment?


No, there is anything like to develop an attitude to on how to spend and save money, how can you save when you suffering did you want them to die with hunger? I believe this is impossible to do when you are earning a little amount of money and you have many things to cover I wonder how you will reserve the money in other to invest.