By Abdulwasi’i Ilyas
With your current job and salary, and all other income sources held at a constant, there is enormous potential to earn more through simply amplifying the impact of your paycheck and making the most of every penny you earn.
This is attainable through a careful combination of the age-old financial advises of living below what you earn and others. This can seem impossible, especially if the size of your paycheck is barely enough to meet basic household needs.
A lot of commitment and sacrifice is required therefore, to play blind to those who sink their existence in a swamp of debt to showcase their latest acquisition of lush cars and other luxury items.
Resist the propensity to explain away wealth as a product of luck and circumstances outside our control. Daily, we are awaken to stories and cases of ordinary folks with the same familiar jobs piling up substantial wealth from the same sources and environment as everyone else.
Bills will always pile up and expenses will rise to meet income as indicated by a corollary of the Parkinson’s law. Accepting these tendencies will amount to relinquishing your influence and control over money to external unfavorable factors.
True, to make plenty of money, you will have to find your way into a very lucrative field and work your way up the ladder. Such fields as IT, Mathematics, Finance and accounting have been proven to offer high starting salaries and ample room for growth. It becomes much easier in such careers to save and reinvest the chunk left of your income.
Also, opportunities to make money and grow your wealth abound in a host of other professions.
To take a firmer grip on your money, you must entertain a lifestyle that is below your current financial status. Some experts though, take this as lame financial advice, stating that this pins you down to your current state and wire your subconscious to not rise to the challenge of devising ways to earn more and live fuller. Until you earn more, delay gratification and live below your means.
Researches on the majority of millionaires all over the world indicate that they are a folk who consistently live below their earnings. Why shouldn’t you do same as you aspire to attain their status.
Prune any and all forms of expenses that fail the quality test; the redundant ones that add little or no value to your bottom-line. This should form the underlying theme of your money philosophy. Let it resonates in your core character and form part of the lesson you instill on your dependents.
This way you can record a surplus that can be channeled to savings, investments, travels and worthy charitable courses. A financial reality without all these elements spells doom. That you do not save, give to less-endowed family and friends and other charities and no penny to travel and observe the bustle unraveling around you, makes no sense of your working life.
Start taking full control and responsibility of your finances today and watch the magic that unfolds.
Please follow and like us: