I am Sherin. I would like to share an interesting subject with readers: how to make your money work for you?
Before starting, I would like to share a few facts that we generally find everywhere. People have jobs with great paychecks at the end of every month. That is nice. A 9 - 5 pm job is enough for that. But have you ever gone through or thought about a few interesting facts?
Most people feel they have settled once they have a great job, a home, a car, etc.. II can easily tell you they are just living in the moment. Most of the people are technologically well through education and experience, but most of them never think about their future. This is a common fact. Here you will find a few examples of how to make your money work for you.
Rule 1: In the famous book named "The Richest Man in Babylon" clearly tells to pay you first. This means 10% of your earnings should be kept to pay yourself first.
Rule 2: Find your personal skill. Every person in this world has a hidden skill. Someone may be great at painting or writing, or anything else. Finding out the same is a critical and tough task. For me, my interest and skills are in writing and blogging. Of course, it may take time to bring your skills to the public, but I believe continuous try would bring you success today or tomorrow.
Rule 3: Multiply money with money and let the money work for you. I will tell a short story. A man who lives in a small rented home with a good job in hand buying a home by taking loan from bank. He is repaying the loan EMI every month from his salary. Once the loan finished, it becomes his own house and he is renting that house to someone else and and buys a second home taking another loan. He can easily repay the loan EMI from the rent as well as adding little money from his salary.
Rule 4: Make sure to save money regularly. Set up an automatic system to transfer funds to a savings or investment account.
Once the loan for the second house repaid completely, he is giving that home also for rent. From the rent received from his first home as well as second home, he can easily re-pay the loan EMI.
Likewise, if he is buying few homes and repaying loan EM from the rent received from other homes, he can easily leave his job and enjoy his life with family members. This is an example on how money works for us.
Of course, there would be some trouble at the beginning, but later it would come as his success.
Likewise, Each person can find his or her own way to earn a second, but long lasting income commonly known as passive income. The power of passive income is, it can come to you even while you are sleeping. For example, I am writing an e-book (short stories) to post in Amazon Kindle and available worldwide. It requires only 30 minutes or less for me in a day to complete. I am a bit lazy too.
"It is better to keep a calendar to track and monitor your daily activities, and you’ll find this habit among the most successful people in the world."
Hope you understand the idea. Best of luck..
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