HomeOpinionFour Money Tricks You Need To Learn To Attain Financial Independence

Four Money Tricks You Need To Learn To Attain Financial Independence

Life is hard, without money it could easily become a horror show. The decisions we take invariable is the ink that writes the plots of our live when it comes to how rich or broke we become. You could easily join the rat race if care is not taken, going to work and surviving off your salary which is never enough but just enough to keep your nose above water.

But all hope is not lost, we can always change it around, but the change but come from us. This article will give you five pointers to help you escape the rat race and live the life you have always dreamed, hopefully.

There is no problem working for someone and earning salary, but you must always have a side business running to supplement your salary. Some do not necessarily find a side business but they find a side job which helps but nothing beats doing something on your own where you answer to no one and have control of all the monies coming in and going out.

Investments! Once again its totally okay to work from 8-5 for someone and receive a salary for your hard work. But what do you do with all that savings from your salary, surely you don’t leave it rotting away and reducing in value in your savings accounts, if yes then you better start thinking of smart ways to make sure your idle money makes more money for you. There is always treasury bills, which is one of the investment avenues to investors with minimal risk, you could also invest in business start ups. Investments is good for those who do not have time to run their own business which of course is another form of investment but I am sure at this point you know the kind of investment I am referring to.

Okay so you invest, thats great for you, but have you diversified your investment portfolio? If the answer is no then you better sit up if you do not want to wake up and lose all your money because the sector you invested your money crushed in the market. This concept is all about not putting all your eggs in one basket. Get more baskets and spread your eggs.

Savings is another cool way to secure your finances though not very popular with business minded people due to the rate currencies depreciate, especially our local currency the cedi, but the is always a way to work around these barriers. One of such ways is to by things which do not depreciate in value, could be land, jewellery, or a more something more popular and gaining much ground in the digital world which is cryptocurrency. These can be classified as a form of savings without necessarily holding cash. But you should always have a little bit of cash on you just in case.

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