How to developed your capital - page 7.

Raflesia

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Quote from: bangjoe on August 19, 2023, 12:40:23 PM

Quote from: stepwilli on August 18, 2023, 11:01:19 PM

What about people who don't earn enough? You can build capital by making investments or even saving if you have a family to feed and also have a very small income which is barely enough for your personal expenses, a person in such a situation cannot build capital or develop one since they can't create one in the first place. The very first thing for a person is to be able to earn more than they need to spend because if you can't even spare a dollar, you can't build your future.

However, those who have enough resources to do that should obviously follow some pattern and get things done right in their lives before it's too late. There is a specific age for doing something, once you miss that age and enter an age where you can't do anything, you will regret wasting your youth.

Capital is not always about money, if your income is stagnant and has no increase and is only sufficient for daily needs with your family which makes you unable to start in the first place in building a better financial, you can increase your knowledge and capital capital first, because it will make it easier for you to get access to increase income, and from there you can raise your capital for investment or business, that is not a reason if you want to be more advanced, the basis must be fixed first, if you force an increase income you with the skills and knowledge like that, it will make you have to spend a long time and effort.

This is indeed not as easy as it is said, but try to keep trying, yes, even though there are some people who miss this opportunity even though they have the opportunity to increase your capital, let it be a life choice, because this cannot be assumed, it can only be be regretted by people who do not have the same position, but want to have that opportunity.

A very good point Bangjoe because in the end as you say when we still cannot develop capital in terms of material, of course we can develop ourselves in terms of knowledge and competence in order to have more qualifications so that when we have the opportunity to increase capital in terms of finance we already have a good self-improvement in order to develop the money we have as capital as well as the skills and knowledge that we have upgraded to become better.
I also agree that things like this will not be easy but if we cannot go beyond this process then no matter how much capital we have in the end when our knowledge is still below then everything will remain stagnant and the capital (money) we have will still not be able to grow.

BigBos

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Quote from: Jatiluhung on August 19, 2023, 09:21:47 AM

Quote from: stepwilli on August 18, 2023, 11:01:19 PM

What about people who don't earn enough? You can build capital by making investments or even saving if you have a family to feed and also have a very small income which is barely enough for your personal expenses, a person in such a situation cannot build capital or develop one since they can't create one in the first place. The very first thing for a person is to be able to earn more than they need to spend because if you can't even spare a dollar, you can't build your future.

However, those who have enough resources to do that should obviously follow some pattern and get things done right in their lives before it's too late. There is a specific age for doing something, once you miss that age and enter an age where you can't do anything, you will regret wasting your youth.

It is true that in this world not everyone is in good shape financially. Because there is still much that we can find about people who have only enough income to meet the needs of their families. And it is difficult for them to leave money for capital. So they do not even have the opportunity to develop capital. Because even they do not have any money left that can be used as capital. The solution in conditions like that really only has to have a side job and make more money than usual. Maybe it will reduce the rest time but if you don't do side jobs then it is not easy for someone who only has a mediocre income to be able to get up and improve their finances by gathering capital from side jobs and developing it.

Well it's true, everyone has different financial strengths and also they have different ways of earning so the results they get are also very different, and I would add that people's abilities have their own limits so it really affects them in finding the income possible. So this is one of the biggest contributing factors as to why it's hard for them to build something like a business that can expand their income, but with such a low income it's very hard to get a little bit ahead. I agree with you that this makes it difficult for them to take advantage of opportunities to expand in terms of capital. And then it's true that a lot of us end up looking for other alternatives by looking for part-time jobs to be able to increase income, on average they have two jobs, offline and online.

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Quote from: stepwilli on August 18, 2023, 11:01:19 PM

What about people who don't earn enough? You can build capital by making investments or even saving if you have a family to feed and also have a very small income which is barely enough for your personal expenses, a person in such a situation cannot build capital or develop one since they can't create one in the first place. The very first thing for a person is to be able to earn more than they need to spend because if you can't even spare a dollar, you can't build your future.

However, those who have enough resources to do that should obviously follow some pattern and get things done right in their lives before it's too late. There is a specific age for doing something, once you miss that age and enter an age where you can't do anything, you will regret wasting your youth.

Capital is not always about money, if your income is stagnant and has no increase and is only sufficient for daily needs with your family which makes you unable to start in the first place in building a better financial, you can increase your knowledge and capital capital first, because it will make it easier for you to get access to increase income, and from there you can raise your capital for investment or business, that is not a reason if you want to be more advanced, the basis must be fixed first, if you force an increase income you with the skills and knowledge like that, it will make you have to spend a long time and effort.

This is indeed not as easy as it is said, but try to keep trying, yes, even though there are some people who miss this opportunity even though they have the opportunity to increase your capital, let it be a life choice, because this cannot be assumed, it can only be be regretted by people who do not have the same position, but want to have that opportunity.

Jatiluhung

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Quote from: stepwilli on August 18, 2023, 11:01:19 PM

What about people who don't earn enough? You can build capital by making investments or even saving if you have a family to feed and also have a very small income which is barely enough for your personal expenses, a person in such a situation cannot build capital or develop one since they can't create one in the first place. The very first thing for a person is to be able to earn more than they need to spend because if you can't even spare a dollar, you can't build your future.

However, those who have enough resources to do that should obviously follow some pattern and get things done right in their lives before it's too late. There is a specific age for doing something, once you miss that age and enter an age where you can't do anything, you will regret wasting your youth.

It is true that in this world not everyone is in good shape financially. Because there is still much that we can find about people who have only enough income to meet the needs of their families. And it is difficult for them to leave money for capital. So they do not even have the opportunity to develop capital. Because even they do not have any money left that can be used as capital. The solution in conditions like that really only has to have a side job and make more money than usual. Maybe it will reduce the rest time but if you don't do side jobs then it is not easy for someone who only has a mediocre income to be able to get up and improve their finances by gathering capital from side jobs and developing it.

adzino

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What exactly do you mean by "develop" here? You mean build your capital? Then the only way to do it is through saving and investing. Reading "financial" books or watching videos won't honestly be helping you. Experiencing is a whole different thing and you learn more when you experience it in real life. Also you need to be discipline and be responsible financially. Most people fail to save because they tend to buy things that they don't actually need. And like you said, you should only spend what you can afford to spend. The "afford" part includes your capital too. Spend what you have left after you have saved enough to build your capital.

stepwilli

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What about people who don't earn enough? You can build capital by making investments or even saving if you have a family to feed and also have a very small income which is barely enough for your personal expenses, a person in such a situation cannot build capital or develop one since they can't create one in the first place. The very first thing for a person is to be able to earn more than they need to spend because if you can't even spare a dollar, you can't build your future.

However, those who have enough resources to do that should obviously follow some pattern and get things done right in their lives before it's too late. There is a specific age for doing something, once you miss that age and enter an age where you can't do anything, you will regret wasting your youth.

Twentyonepaylots

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Quote from: karabiber on August 18, 2023, 08:06:15 AM

You can try dozens of techniques to increase or protect your capital but in my opinion, being experienced and seasoned is the biggest plus for capital development. Being financially literate is one of the golden rules for capital accumulation. My capital accumulation was all about experience and patience. Most of the people who enter the money markets are not in it for capital accumulation but to get rich fast. If you don't know about the market, your losses, your bad experiences, will teach you about the market. Cryptocurrency markets are the best place to build capital.

By investing in major coins, you can save for the long term and protect yourself from inflation. So far Btc and Eth are among my indispensables to increase my capital. The reality of this business is definitely patience. The idea of getting rich quick is the biggest mistake for capital accumulation. Creating a plan and patiently spreading your capital accumulation over the long term by sticking to that plan is the ideal way to grow your income step by step.

True. Developing your capital is a journey that requires discipline and consistency. Having clear financial goals and creating a plan to achieve them is also a key factor. As for me, I've started through saving a fixed amount of money each month, even if it's initially difficult for me because sometimes I get tempted to buy impulsively. At the same time, I am doing thorough research about investments that have historically generated a good return on investment and related factors such as market trends and risk when making investment decisions.

Investing your money wisely in assets that generate a good return on investment can help you achieve your goals faster. Try to minimize your debt as much as possible and prioritize paying off any high-interest debts first. We just need to stay focused on our goals and avoid impulsive spending. Following these tips can develop your capital and achieve financial stability over time.

Marvell1

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Quote from: TheUltraElite on August 17, 2023, 10:43:56 AM

Quote from: Marvell1 on August 17, 2023, 08:51:48 AM

We are children born into poor families and the only way to become rich is to go to school, to have knowledge, our parents were not wrong about that.

Even in this century, this statement holds true like the sun rising in the East. There is not substitute for education, gaining knowledge and a degree that is recognized professionally into something that a person has passion in. Then they should be able to work their skills and earn at the same time doing what they wanted to do.

Even youtubers have some or the other degree before they go into that "I left my job" - defenitely dont take that for granted, they set up their businesses by working not being a lazy ass, like what some people might think.

Earning money and getting rich is not easy but neither impossible if you are determined and willing.

But what's even more funny is that those losers are trying to blame education and they're comparing them to people without college degrees like Elon or Bill Gates. But they don't know that even though those billionaires don't have college degrees, they also get the best education in the world from a young age and they are born into wealthy families. If Elon and Bill Gates fail, they still have another way to restart their careers, while we have what? We have nothing and will always be a failure if we do not study and work hard.

Yes, making money and becoming rich is not an easy thing, but that doesn't mean there is no way, as long as we constantly learn, constantly strive and always try, we will achieve what we want. Nothing is impossible and everything is completely up to us.

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Quote from: FiveG on August 15, 2023, 12:21:30 AM

...
1. Don't spend more than you earn it kills capital through lack of wisdom
...
8. Save, invest and take good care of your health.
...

Reading books about financial markets and being inclined to save are important recommendations and I fully agree with them. Also, I think that the more experience I gain about financial markets, the more I become a saver. So, there is a practical as well as a theoretical aspect to it. Someone without practical experience will never succeed in increasing their capital and changing our habits is more difficult than reading a few pages of a book.

karabiber

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You can try dozens of techniques to increase or protect your capital but in my opinion, being experienced and seasoned is the biggest plus for capital development. Being financially literate is one of the golden rules for capital accumulation. My capital accumulation was all about experience and patience. Most of the people who enter the money markets are not in it for capital accumulation but to get rich fast. If you don't know about the market, your losses, your bad experiences, will teach you about the market. Cryptocurrency markets are the best place to build capital.

By investing in major coins, you can save for the long term and protect yourself from inflation. So far Btc and Eth are among my indispensables to increase my capital. The reality of this business is definitely patience. The idea of getting rich quick is the biggest mistake for capital accumulation. Creating a plan and patiently spreading your capital accumulation over the long term by sticking to that plan is the ideal way to grow your income step by step.

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Quote from: FiveG on August 15, 2023, 12:21:30 AM

....
1. Don't spend more than you earn it kills capital through lack of wisdom
2. Development an attitude of reserving "spend and save in quote"
3. Read books on financial market and its products
4. Learn to engaged in investment
5. Be curious about things and ask a lot of questions
6. Don't underrated any money with you, no matter how small it is...its always have value towards something
7. Admire other people success and think where you're going too.
8. Save, invest and take good care of your health.

I hope this is helpful?

There are tips that I like and there are tips that I don't like. For example, I am sure that all financial books are useless. In my youth, I read "Rich Dad, Poor Dad" I want to say that the whole book could be expressed with just one thought: buy assets and do not buy liabilities. That's all, a valuable thought, but for some reason stretched over the entire book. Among your tips, I liked the advice that you do not need to be afraid to ask. This is exactly what Einstein advised to do, because there is no need to be shy and not be sure. You need to achieve the goal and not be afraid of anything.

Y3shot

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It is not just easy to say, we all know how the economy is right now that price of things are very much expensive. The economy keeps on becoming tough, currency keeps losing values and no increment of salary of workers in this tough time. Having one source of income is not going to be possible to develop a capital because the daily demands for money is too much. Developing capital if their are other source of income, with this it will be easy to make some savings for capital.

Before Developing capital you might have first solve your needs first, but whereby it is difficult to provide or solve daily needs it can't be possible to think of Developing capital. Developing capital is all about to be financially stable first.

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Quote from: Smack That Ace on August 17, 2023, 07:53:07 PM

Quote from: Razmirraz on August 17, 2023, 11:16:06 AM

Quote from: Smack That Ace on August 17, 2023, 07:27:28 AM

Quote from: reagansimms on August 17, 2023, 12:58:16 AM

Snip

Health is important but if you don't have money, how do you maintain your health? You want clean food, nutritious food, a healthy living environment, or using organic products…how can you get those things if you don't have money? So all need to be balanced, you can't torture your health to overwork, but you also can't be lazy for fear of affecting your health.

Not only for retirement, but if anyone wants to get rich, saving and investing are always the most important and necessary things. I have never seen anyone get rich without any savings or investments, a hired job will never make anyone rich.

Health and money are equally important in life. When a person is healthy but has no money, his life is very difficult to organize. Vice versa, someone who has a lot of money but is not healthy, cannot enjoy the money that has been collected so far. A person must be in good health when he wants to raise money, but without money it will be difficult to live a healthy lifestyle by consuming nutritious food. Both must complement each other, money is easier to find when you are in good health.

Agree, a rental job never made anyone rich without some savings or investments. Old age will be guaranteed if you have savings or investments to finance all your needs when you are unable to work normally.

Honestly, I find the importance of money the most important nowadays because when we have money we will get many things. I wonder how health will be guaranteed if we don't have money to eat clean food or if we have an accident and need a lot of money for surgery. If we don't have money, what will we do? Besides, when we are young, we should exchange our health for money because if we only know how to maintain our health but are lazy to work when we are old, we will see the harm of not having money. When you earn a lot of money, you just need to enjoy it when you get old and don't need to work, and that's called money can buy health.

In contrast with that, how will we be able to gain money if we don't work? How can we work efficiently if we are not healthy? Health and wealth are interconnected things, if you don't have one then the other one will surely be gone as well. They are both equally important. You need money to maintain your health and you need to be healthy to ensure that you are well enough (physically, mentally, cognitively, and emotionally) to work to gain the money you need.

Oasisman

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Quote from: FiveG on August 15, 2023, 12:21:30 AM

I took time to research and observed that 75% of youths their problem is inability to develop their capital in capital market, most at times we are bless with so much that one find it difficult to control your finances or resources. I notice it usually affects people do not work hard to earn but probably the gimics or scams that makes them to make this money easily but after a while you discovered the person down why?

Now we should try this simple steps in developing capital either in savings, capital market or investment it's all same principle....
1. Don't spend more than you earn it kills capital through lack of wisdom
2. Development an attitude of reserving "spend and save in quote"
3. Read books on financial market and its products
4. Learn to engaged in investment
5. Be curious about things and ask a lot of questions
6. Don't underrated any money with you, no matter how small it is...its always have value towards something
7. Admire other people success and think where you're going too.
8. Save, invest and take good care of your health.

I hope this is helpful?

Based on my experience and as what I've heard from young professionals who are earning decent amount of money, some of them will never think of making their own fortune instead of avoid working for someone who's already been wealthy. Just because they have money, the things they do will contradict some of those you have on your list.

1. They spend just enough to make things even before the next paycheck comes in or sometimes they spend more.
2. They don't usually save out of their own pocket, because they are dependent on their insurances.
3. Some may have read a lot of book, but they still don't have enough time to execute what they've learned, simply because they are still young and they need to enjoy life while they still have a strong knees.
4. Some might have engage into several investments, but lack of knowledge. ..
The list could still go on, but the bottom line here is that, not everyone has the ability to adapt that kind of mindset, especially at young age. Believe it or not saving is very difficult than what we think it is and spending is the other way around. The reality is, there are only few people who can manage their earnings very well, again, especially at a young age.

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Quote from: someone703 on August 17, 2023, 12:49:20 PM

Placing money in bitcoin is only a small part of a more comprehensive financial plan. We face many uncertainties in our lives, such as inflation, market volatility, and changes in the cost of living.

The things you mentioned are already seen as facts today so everyone should have the ability to deal with them in their own way. Because inflation, market turmoil, and changes in the cost of living at this time have occurred and are even still happening, making everyone continue to look for ways to deal with them wisely.

Quote

It is important that you develop a solid foundation of financial knowledge. Truly, understanding how the markets work, managing risk, and creating an investment strategy are key to achieving financial sustainability. We also need to learn how to budget, save and invest effectively to ensure that we have enough assets and income in the future.

How to save and budget money in life will be obtained by everyone when they have faced difficulties in their life, because that is something that must be done by everyone who wants their life not to be difficult. In addition, to understand risks, markets and strategies is when someone is doing a job that he likes very much at the moment, for example in investment and business. Because business owners also need an understanding of the market, risks and strategies if they want their business to grow, so it's not just investment.

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Quote from: Razmirraz on August 17, 2023, 11:16:06 AM

Quote from: Smack That Ace on August 17, 2023, 07:27:28 AM

Quote from: reagansimms on August 17, 2023, 12:58:16 AM

Snip

Health is important but if you don't have money, how do you maintain your health? You want clean food, nutritious food, a healthy living environment, or using organic products…how can you get those things if you don't have money? So all need to be balanced, you can't torture your health to overwork, but you also can't be lazy for fear of affecting your health.

Not only for retirement, but if anyone wants to get rich, saving and investing are always the most important and necessary things. I have never seen anyone get rich without any savings or investments, a hired job will never make anyone rich.

Health and money are equally important in life. When a person is healthy but has no money, his life is very difficult to organize. Vice versa, someone who has a lot of money but is not healthy, cannot enjoy the money that has been collected so far. A person must be in good health when he wants to raise money, but without money it will be difficult to live a healthy lifestyle by consuming nutritious food. Both must complement each other, money is easier to find when you are in good health.

Agree, a rental job never made anyone rich without some savings or investments. Old age will be guaranteed if you have savings or investments to finance all your needs when you are unable to work normally.

Honestly, I find the importance of money the most important nowadays because when we have money we will get many things. I wonder how health will be guaranteed if we don't have money to eat clean food or if we have an accident and need a lot of money for surgery. If we don't have money, what will we do? Besides, when we are young, we should exchange our health for money because if we only know how to maintain our health but are lazy to work when we are old, we will see the harm of not having money. When you earn a lot of money, you just need to enjoy it when you get old and don't need to work, and that's called money can buy health.

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Quote from: beerlover on August 17, 2023, 02:49:10 PM

Quote from: 19Nov16 on August 16, 2023, 09:51:45 AM

I once worked in a place that was originally small and only consisted of about 4 employees, the type of business was a house improvement contractor and in 3 years the number of employees became 30 people, the owner had told me that the most important thing from the business was honesty, as long as it could be honest it would be easy to Looking for investors with transparent profit sharing systems.

This is definitely true, if you do a good job then the good job will come back to you and you will return it with a great profit without a doubt. I have met with a lot of people like that and they all made great returns. Of course that's not the only way, there are shady people who made some money as well, like for example look at Amazon, do you really think that they grew to be this big by being fair?

Of course not, they were never honest, they have paid their own workers so little that their own workers who spent 8 hours a day working there ended up in poverty level. But you need to be honest about the work you do, if you do that then you are going to end up with a great return without a doubt, it's very important.

When running up a business or simply you are a business owner then there might really be things which you might do even though it turns out to be none fair or none ethical but we do know that on cutting off some cost or trying out to save or some expenses then you would really be needing these sort of things for you to be able to maximize out profitability but of course you shouldnt really be coming into a point where cuts are really that severe which turns out to be unfair and unjustifiable already. Just go into that fair side at least and really worth for the work that they have done.
Honestly, handling out people and managing a company is never been that simple on which there are lots of things and factors which you would really be needing to consider out first before
making other step.

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Quote from: 19Nov16 on August 16, 2023, 09:51:45 AM

I once worked in a place that was originally small and only consisted of about 4 employees, the type of business was a house improvement contractor and in 3 years the number of employees became 30 people, the owner had told me that the most important thing from the business was honesty, as long as it could be honest it would be easy to Looking for investors with transparent profit sharing systems.

This is definitely true, if you do a good job then the good job will come back to you and you will return it with a great profit without a doubt. I have met with a lot of people like that and they all made great returns. Of course that's not the only way, there are shady people who made some money as well, like for example look at Amazon, do you really think that they grew to be this big by being fair?

Of course not, they were never honest, they have paid their own workers so little that their own workers who spent 8 hours a day working there ended up in poverty level. But you need to be honest about the work you do, if you do that then you are going to end up with a great return without a doubt, it's very important.

ndutndut

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Quote from: FiveG on August 15, 2023, 12:21:30 AM

8. Save, invest and take good care of your health.

I want to emphasize point number eight. Savings and investments are indeed important for the future. But more important is the health investment. as we see now many people whose lives are upside down, now people think of spending millions to buy a house, spending millions to buy a car, spending tens of thousands to buy bags, spending tens of thousands of thousands to buy cell phones and even spending money to buy clothes and all of that is normal.

But spending tens of thousands on their own health, they may shake their heads. because they feel it is too expensive and say there is no money, when in fact they will spend a lot of money to make a house, but only a body that has never been cared for.

It doesn't matter how much money is spent on health, because as we know health is the guarantee of our future. because health is not an inheritance, health is our best investment. What bed is the most expensive in the world, of course a hospital bed. And no one wants to replace our pain. we can recover lost items, but there is one thing that if lost will never return, namely health. So let's take care of our health for a better future.

Rupok

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Honesty is one of the main factors to be profitable in business. If someone has integrity then surely he will achieve great success. Those who have excessive greed in them cannot be successful. If one wants to do any business then he must analyze it. Everyone should remember that the purpose of business is not only to make profit but to serve people and be honest then he will surely succeed. There are some unscrupulous traders who are in business to cheat people, so they can never succeed.In all cases an investor must spend his capital wisely.

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