Money Lessons must to follow in year 2015
Just one week to go in year 2014 and everyone is ready to warm welcome year 2015. Every year we learn some lesson from our life experience and we try to improve it. Today I want to share some of my experiences what I learnt from my life, out of these some you may read it or some you may hear it. But I think it will surely help to build your financial life in better way in coming year.
“Do not depend on single income. Create a second/third source of income”
Small start of second income will surely help you, so commit to start it. Every person has some skill with the help of it, you can start it. Share your special skill with the world and slowly it will convert in to income steadily. First things you have to search that skill in YOURSELF and make it your project of creating income for the year 2015.
“Hold the vision of wealth creation”
Do not hold personal finance with worry; hold it with vision of wealth creation. Holding such a bigger vision can help you to create a better wealth in your financial life. Take this lesson very sincerely will give you direction in your life. As an investor if you want to live awesome life convert this lesson in to project of wealth creation for coming year 2015.
“Read good personal finance book”
I strongly recommended you to start reading books because my own experience says books are great way to learn new stuff and ideas. “Good books, like good friends, are few and chosen; the more select, the more enjoyable” One book every investor must read 11principle to achieve financial freedom. It will surely change your relationship with money. You should make small library at your home and can start working on this lesson very soon.
“Make new friends and help them”
I can say helping people to manage their MONEY is my true job as an advisor. But I learnt lot of stuff from making new advisor friends. I have many advisor friends with whom we share ideas with each other. As an investor you can share knowledge with your friends like helping to surrender traditional insurance plan and take term plan. You will also gain knowledge indirectly during this process. If you’ve surrounded yourself with good friends, they’ll remind you of your goals. I think this is best lesson to work in action in coming year.
“Pay your outstanding”
This lesson written in last by me but it is first step to take in action by you. If you have any outstanding loan like personal loan, car loan, credit card then repay it first. However if you are paying your EMI for home loan, education loan or business loan it is good because it is good debt with the help of such loans you can increase your wealth in future. So decide your good debt and bad debt first and then pay if it’s bad debt and start to invest same amount for your goals.
After reading all above lessons start to practice it and you will feel the high level of liking in your life.