5 SMARTEST WAYS TO SAVE MONEY

Any success needs to go hand in hand with discipline.  And forcing yourself into the framework sometimes means that you have to trade off a lot of shopping moments, then save a part of your income to conquer bigger goals.

The secret to finding joy in the process of saving is to change your mindset and practice careful money habits.  The feeling of power and happiness in spending is real, but it soon passes once you finish paying for one item and start looking at another.

If you feel that saving is somewhat difficult, you are most likely using an inappropriate method or an unreasonable allocation ratio. 

You will need to observe and adjust for a while to find the way that works best for you.

The percentage number can also change from time to time and with different income, as long as you don't forget to force yourself to automatically deduct money.  Instead of seeing savings as a pressure, think of it as a form of "paying yourself" to make your dreams of a new home, new car, comfortable retirement,... soon come true.

A shopping need is something that can be met at the end of the year when super promotions happen so that you reward yourself for your hard work and steady accumulation.

Below are 5 smartest ways to save money you can refer to to make budget management less stressful.

5 SMARTEST WAYS TO SAVE MONEY

1- Saving automation

Automation is both a way to proactively stay disciplined and prevent you from accidentally forgetting this important  money amount. 
 

5 smartest ways to save money / ph: pexels 

Every time your salary is transferred to the account, quickly cut a portion of your pay off and transfer it to an auto-renewing passbook or low-risk investment account.

2- Limit increase in costs when increasing income

If your income improves, you can prioritize increasing your savings rate and deposit the excess directly into your savings account.

Many people tend to increase costs when they have a high income. However, if you think about the future, you should try to control your wallet and limit your emotions.

When you reach a certain goal, you are free to buy your favorite brand bag or new mobile phone.  The gift will create motivation and joy for you to continue your saving journey.

3- Use one credit card

The advice that is repeated over and over in personal financial management is still to never go into credit card debt.

Using only one credit card makes it easier to manage, accumulate points and pay off your debt on time. Additionally, when your credit history is good, you will have advantages such as 0% interest installments.

4- Take advantage of sale seasons

Promotion time is when brands race to reduce prices.  This is your ideal opportunity to serve essential needs.

Be careful not to spend too much on things you like but don't need.  Many people make this mistake when hunting for sales, since then the budget is in deficit and find saving becomes a great pressure.

5- Schedule your own shopping

You can set yourself a specific limit, like buying clothes only 3 times a year.  After the specified number of times has expired, you are not allowed to buy more.

Another way that is also popular is to set a clear budget for shopping, stop when the funds are used up.  With direct purchases, many people choose to leave their credit cards at home so as not to overdo it.

Besides, always check if you have saved at least 20%/month or not.  If not, perhaps luxurious shoppings can wait until sale seasons.

WHY IS FINANCIAL FREEDOM IMPORTANT TO BUSINESSES AND INDIVIDUALS?

At the core of financial freedom is freedom: freedom to plan spending, freedom to choose your own work, to refuse jobs that do not create real value for yourself, and to build sustainable values which are reasons why is financial freedom important to businesses and individuals.

For each person, the financial freedom milestone is different depending on needs.  Like happiness, financial freedom is not a destination but a journey that takes time, needs right understanding and rational action.

Why is financial freedom important to businesses and individuals? / ph: pexels 

The journey to financial freedom is not only about the story of money but also the journey to change the perception to achieve freedom and happiness.  Therefore, financial freedom is the act of taking care of ourselves and allowing us to spend quality time with ourselves, family, loved ones, friends and community.

Why is financial freedom important to businesses and individuals? When we achieve financial freedom, we don't need to rush to earn money to take care of basic living expenses and worry about fees that may suddenly arise.  At that time, we are given the choice to do jobs that create more value than just work that makes money.

With families, at this time, parents will have more time to accompany their children in learning, playing and developing along with having money available for future education.  At the same time, with aging parents, we have enough savings to spend on health problems.

With the community, when we are financially free, we have the opportunity to participate in more social works and activities to support those in need, join hands to spread interest in the community.

Below are reasons why is financial freedom important to businesses and individuals.

- Freedom to choose the job you love without worrying about salary.

- Freedom to take one (or more) annual overseas trip without worrying about the budget.

- Freedom to pay for an item you love even though it's a bit expensive.

- Freedom to respond/help others generously.

- Freedom to retire early for decades, return home to "enjoy the moment" to raise fish and grow more vegetables.

In general when you have financial freedom you have more options, the quality of each choice is also better.

Financial freedom is the state of having enough income to cover living expenses for the rest of your life without having to work or depend on others.  If a person is able to generate passive income from sources other than their profession, then they have achieved financial freedom regardless of age, assets or existing salary.

In fact, the financial path of financial freedom pursuers is often better than the average seen in the other group.  They have the ability to spend less, are smart and have a stable income, quickly achieve their goals in life, and easily cope with big problems.  Accordingly, after being financially freedom, the quality of life is obviously improved.  The family is living in adequate conditions, without having to worry about money.  In addition, spiritual life will also be taken care of more.  It can be said that economic independence is the freedom, without worries, without thinking, doing what you like, having enough capacity and conditions to realize your dreams which are reasons why is financial freedom important to businesses and individuals.

4 WARNING SIGNS OF FINANCIAL TROUBLES AND SOLUTIONS

Not making enough money to live on can cause a lot of trouble.  Besides the fact that you struggle with life every day, struggling to pay bills or having a lot of credit card debt, there are other signs that you are not making enough money.  Even though you seem to be fine on the outside, if you have the following signs you need to rebalance your finances and spending to avoid falling into a difficult situation. Here are 4 warning signs of financial troubles and solutions.

1. Use credit card every month

The most obvious sign that you have an income problem is that you have to use your credit card every month.  Even people who are in heavy credit debt, can only pay the minimum payment and still continue to use their credit cards because they do not have enough money to pay for essential needs.  Over time, it will create bad habits that leads to worse and worse debt and becoming slaves to credit organisations with high interests.

4 Warning signs of financial troubles and solutions / ph: pexels 

Solution for this is stopping to use credit cards which is very difficult, initially because your financial situation may be very bad, without a credit card there will not be enough money to cover basic living needs.  However, this is the only way to cut off credit card debt and also help you control and limit unnecessary spending and impulsive purchases.

2- Confused about which bill to pay first

Of course, everyone needs to pay their bills every month.  But if you're wondering which bills to pay first rather than all bills at once, you're probably in an income crisis.

The reason for this situation may be that you are renting a house, using services too much compared to your income which lead to overspending, your earned money is not enough to cover your living costs.  In order for this situation not to get worse, you must solve this situation as quickly as possible with the solution is cutting down on lifestyle. 

There are so many ways to cut your lifestyle and reduce your bills each month.  Cutting the budget does not mean that you have to live a miserable life, but rather rethink how you spend money, and balance everything properly with your income.

3- Unable to handle emergency situation

What do you do when a bad situation occurs and you need a lot of money to solve it?  Use an emergency fund or borrow and use a credit card?  If you choose the second option, you can fall into a financial crisis, make hasty decisions will affect your finances badly later. Solution for this problem is to set up an emergency fund.

How to save when you are in financial trouble? It sounds crazy, but it's the only way to keep your finances and wallets safe in the event of an emergency.  This emergency fund will also give you peace of mind and allow you to focus on other goals and matters.

Setting up an emergency fund is not an overnight thing, if you are in financial difficulty you can start saving with a small amount and gradually increase over time.

4- Failure to meet financial goals

Financial goals aren't not only big things like buying a house, buying a car or financial freedom, it also includes paying off debt, saving more money.  If, after a long time, you still haven't achieved any of those financial goals, you're not making enough money.

This sign is not as serious as the ones mentioned above, but it greatly affects your life later on and should be resolved before it becomes more troublesome.

Solution for this is making the goal possible.

If your debt amount is nearly your annual income and you also have to pay many bills and essential expenses, you cannot reach your goal in 1 year.  Instead of setting big and difficult goals, you should break the goal down or set a lower goal to make it achievable.  Only then will you be motivated and know how to cut spending and continue to save to achieve it, otherwise, you will be easily confused and discouraged.

WHEN THE RUSH TO RETIRE EARLY GET YOU IN TROUBLE

“Achieving financial independence, retire early” gives you new freedoms and opportunities, but this phase requires a lot of financial goals and retirement planning.  Here are the signs that the rush to retire early will get you in trouble.

WHEN THE RUSH TO RETIRE EARLY GET YOU IN TROUBLE

If you're thinking about achieving financial independence, chances are you've had a retirement planning carefully in advance.  That's a good thing, no matter how much you save.  To achieve this goal, you need to do some tasks to make sure your money is spent in the right places which will enough to help you live comfortably and maintain this living way for many years to come.  Therefore, the "FIRE" plan – financial independence, retire early, is not something everyone can do.

Reaching the "FIRE" goal is not always a necessary and sufficient condition for early retirement.  In addition to this factor, you need to consider other issues for your retirement planning.  If you have these below signs, it's possible that the rush to retire early will get you in trouble.

1. The rush to retire early will get you in trouble if you have misplaced savings 

Even if you hit your savings goal in your retirement account, you may not be able to retire as soon as your retirement planning.  Especially for those who want to retire in their 30s or 40s, there is a significant gap between early retirement and age, making it difficult to use a retirement savings account for free.

Retirement accounts like 401(k) and IRAs both require a minimum age for withdrawals and may incur a 10% penalty fee if you withdraw early.  For 401(k) and IRAs, the minimum age is 59.5.  While there are some exceptions - for example, the 55 rule for those who retire between the ages of 55 and 59.2, not all of them could apply.

When the rush to retire early get you in trouble / ph: pexels 

As a result, you will need another savings in addition to retirement fund such as a personal taxable investment account.  While there are no tax incentives like 401(k) or IRAs, these accounts do not require a minimum age for withdrawals.

2. The rush to retire early will get you in trouble if you don't have a backup plan

During your early retirement time, you suddenly realize that this time is not as fun as you thought.  An unexpected expense, an unexpected family problem that your retirement fund can't afford, stock market volatility, ..are all factors that can have a big impact on the money amount you have saved for your early retirement.

Chances are, you'll end up in a situation like this and find you need to get back to work.  And that's what you should think beforehand for retirement planning.

Having a plan to cut costs and increase income during early retirement is crucial to making sure things go as smoothly as possible. Furthermore, having an “out of control” fund in your retirement planning also gives you peace of mind.

3. The rush to retire early will get you in trouble if you don’t think of cutting costs to make your living less expensive

Each person has their own choice about early retirement.  But most follow FIRE – spend less and save more.

You maybe think about moving to an area with lower house prices or consider monthly services to cut living costs.

Even for those in retirement age, cutting costs and simple living are good solutions in this phase.  Cutting costs is a good way to reduce the need for a backup plan and help maintain your savings.

3 BEST MONEY SAVING TIPS FOR YOUNG ADULTS

The reality today shows that after a few years of working, many young people still have not had a good savings amount.  The problem of spending always makes young people struggling so they don't know how to save money effectively.  Many of them often fall into a passive financial status, making it difficult to achieve long-term financial goals such as buying a house, buying a car, setting up a business, traveling... for themselves. So what are best money saving tips for young adults?

Setting up a spending diary, limiting purchases, setting up savings and investments are ways to help young people secure their financial future.

1- Set up a spending diary

Setting up a spending diary is something very few young people do.  Therefore, most young people over-spend their money that leads to out of money at the end of the month.  To solve this problem, right from the moment of making money, young people need to record the amount of money they earn in a month, the amount of money spent by day and week.  After each week or month, you need to review so that the next months consider income - spending as well as spend a small amount of money to save.  This diary will help young people approach the daily habit of using money in the most detail.

2- Control shopping

Shopping is an essential need to maintain a stable life and today has become a habit and hobby of young people.  Many people choose it as a way to relieve stress and pressure in life.  Even many young people are addicted to shopping that leads to excessive spending and even debt.

3 best money saving tips for young adults / ph: pexels 

In order not to waste money, young people need to make a list of the items they will buy and consider whether it is a necessity or simply a hobby.  For items that are not really necessary, you can wait for discounts to buy cheap.  However, young people do not fall into the trap of buying too much because of the desire to buy cheap which make you buy items that can only be used once.

3- Set up a savings plan

If you want to finish early retirement quickly, you should also create a financial and savings plan as soon as possible.

The earlier you start, the better your chances of taking advantage of the potential for compound growth in your savings.  Compound interest will help your assets grow faster over time, by continuously re-saving.

Grow estimates that over time, you could see an increase in average annual costs of 5% to 10%, adjusted for inflation.  According to experts at Grow, you should save at least 8% a month from your income.  This is the safest number for most people.

Using hypothetical numbers is a great way to create goals for the future, but not a guarantee.  These calculations do not include future market volatility, fees or other fluctuations that may affect the value of any of your accounts.

Remember that saving for the future is a marathon, not a sprint.  Wherever you are on your path, it can be helpful to apply a realistic budgeting approach.  Living suitable with your abilities and following a savings plan can help you make money effectively.

Because everyone's income and expenditure levels are different, there can be no common minimum saving level.

However, according to the analysis of experts, each person usually spends about 50% of monthly income on mandatory expenses, about 30% of other income is used to spend on discretionary expenses.  Thus, the remaining 20% ​​of income is for savings.

Experts recommend that you should save about 15-20% of your income every month and start from the age of 25.

HOW TO SAVE MONEY WITH LOW INCOME?

With a low salary, you can still have savings deposits if you spend wisely, or have a specific financial plan.

HOW TO SAVE MONEY WITH LOW INCOME?

1- Think that your income is less than your real income

Let’s think that your salary is less than your real salary. Because the thought of having a lot of money will make you spend a lot and vice versa.

How to save money with low income? / ph: pexels 

If you form this mindset for a long time, you will be able to adjust your spending patterns and create savings habits for the future.

2- Divide spending and savings amounts

“Putting money in each basket" is one of the secrets to help many people save money successfully.  Instead of just putting money in one big basket, let’s split up your savings deposits.

In case you need money urgently, you can use it without affecting other savings deposits.  Even if you withdraw 1-2 saving deposits, the remaining savings deposits are still profitable.

In addition to the amount of money intended to be saved, spending money amount should also be divided into many baskets such as living expenses (electricity, water, meals);  money for personal shoppings;  money for study, travel,..

3- Spending wisely 

You will not have enough money to save if you spend too much, or do not have a specific financial plan. 

Let’s make a suitable spending plan. Think carefully where to spend the money on, How much money and always ask yourself that "Is it really necessary" to moderate your spending.

Additionally, you should avoid eating at restaurants and using expensive services if unnecessary.  Take advantage of everything you can which both to protect the environment and save money.

4- Find more ways to increase your incomes

If you have a low salary, it may cause a headache, because it might be not enough to meet your necessary needs.

If you want to have more money to save or invest, you should look for other jobs.  However, you should consider and arrange scientific working time, especially those who are married and have small children.

HOW TO GET OUT OF DEBTS AND SAVE MONEY?

To manage finances intelligently, get out of the cycle of making money - paying debt - borrowing more, experts say that each person needs to determine their own motivation to strive.  A strong mentality from the beginning will help individuals plan their spending and eliminate debt effectively.

HOW TO GET OUT OF DEBTS AND SAVE MONEY?

1. Take back 100% ownership of your property

When you have a mortgage, you don't own your home, but the bank does.  Debt-free means you 100% own the house you live in and the car you drive. Particularly, getting rid of debt helps you not have to worry about the risk of foreclosure in the future.

2. Enhance financial ability

Debt is a serious threat to personal financial security because it prevents the person from making the most of his or her assets.  When there is no debt, a person can save for retirement, invest more in their studies or have more budget to strengthen their financial security.

How to get out of debts and save money? / ph: pexels 

Having to pay debts leaves you with less money to do the things you really want.  Unfortunately, this mentality drives many people deeper into debts.  Unable to afford shopping because of debts, they continue to borrow more money to spend.  The determination to pay off debts will end this vicious cycle and free up money so you can really do the things you love.

Debts can lead to psychological stress because you have to worry about how to cover all your debts and other living expenses.  A little stress is not harmful from time to time, but constant stress can lead to serious health problems including migraines and even heart attacks.  In some cases, becoming debt-free can literally save your life.

3. Reduce the number of bills to pay

The more people you owe, the more money you have to worry about and pay off.  Only when you are out of debts will you have fewer bills, receive askings for paying debts every month. Then, you will only have to take care of a few monthly expenses like utilities, insurance, cell phone bills, etc. All these fees are free of interest or long-term obligations as debts.

4. Improve your credit score

Too much debt, especially credit card debt, can have a negative impact on your credit score.  When your credit card balance is above your credit limit, your credit score will be negatively affected.  It is similar to the loan balance being higher than the original borrowed amount.  Being debt-free means improving your credit score which is very important when a person wants to borrow big amounts of money to buy a car, buy a house...

5. Increase future income

Whenever you get a loan or pay something by a credit card, you are simply borrowing from your future income.  The money amount you spend today will be taken from what you earn in the coming days.  By withdrawing money gradually over time, debt reduces your future living standard.

When you can’t pay debs, creditors can increase the interest rate and even extend the payment period according to their needs.  Therefore, eliminating debts and being debt-free will help you have complete control over your money.

In addition to having to balance income - expenditure, get out of debt, you need to have a plan to secure their own finances as well as prepare for the future financial demands.

[RETIREMENT PLANNING] HOW TO ACHIEVE FINANCIAL FREEDOM - 2 RULES

Financial freedom is everyone's dream in modern life.  You are free to stop working at any time and still be able to live the way you want.  The key to making it happen is passive income which is income you earn without actively working.

For example, the interest on your savings account is passive income.  You don't have to work to earn it.  You can sit and play and still make money.  To achieve financial freedom, your passive income must be greater than or equal to your expenses.

So what you should do to achieve financial freedom? You should work hard to build a profitable system for yourself or when you have money, let’s buy assets. These two rules cover pretty much everything we need to do to build a passive income and achieve financial freedom.

HOW TO ACHIEVE FINANCIAL FREEDOM - 2 RULES

1. Build a system generating passive income

The first rule deals with how you should use your time.  Taking your time to build a system that will help you to generate passive income instead of working for  money, there is a big difference between them.  If you work directly to earn money, you always need to work to earn more.  If you don't work, you have no way to make money.

How to achieve financial freedom? / ph: pexels 

Here are some examples: Freelancers have to work on projects to make money.  Doctors have to work with patients to make money.  An employee must work for the company to earn a salary.  When they stop working, their income also stops growing.  No matter how hard they used to work or how long, when they stop working, their income will drop to almost zero.

If you build a system generating passive income, you can go out of business at any time and the system will still give you money.  Here's an example: A systematic business owner can hand the business over to a manager and still have an income.  Website owners can stop working for website and still earn income (e.g. automated advertising).  A writer can stop writing and still earn royalties from the books he writes.

When they feel that the present system is strong enough, they can continue to create a new system, thereby creating a new revenue stream.  From these examples, we can see which category we are currently in.  Are you building a system generating passive income or are you working directly to earn money?

If you are working directly to earn money which doesn't mean that you should quit your job immediately to start a business.  There should be a transition period, or if you love your work you can work on both simultaneously.

2. Buy assets instead of liabilities

The second rule deals with how you should spend your money. 

This rule says that when you buy something, make sure it will make money.  And you should use as much money as possible to buy assets. It could be real  estate (from which you earn rental income). By using this rule, you can see if your spending is wise or not.  If this spending will help you to generate more money in the future, this is recommended.

One of the reasons many people never achieve financial freedom is that they spend their money mainly on debts rather than assets.  Those who achieve financial freedom, on the other hand, are the ones who are willing to put aside their enjoyment to build assets from scratch.

With these two rules in mind, you should ask yourself two questions: Am I building a system generating passive income?  Or Will the asset that I buy generate money?  The goal is to answer "Yes” as much as possible.

HOW TO MANAGE FINANCES WISELY?

The global pandemic caused the financial crisis take place on a large scale.  These days, people understand more deeply the importance of financial management.

In fact, having the ability to make money doesn't mean you can keep your assets and make assets increase rapidly.

If you don't know how to manage money, then no matter how much money you make, one day you will be out of pocket. So how to manage finances wisely?

HOW TO MANAGE FINANCES WISELY?

1. Understand assets and liabilities

When your salary is still on the bank account, the choice to spend or manage money will determine a person's financial situation in the future.

How to manage finances wisely? / ph: pexels 

Those who prefer to spend first will often be out of pocket at the end of the month.  Because they work for many years but do not know how to accumulate.

In contrast, those who know how to control desires, delay satisfaction, use money to invest and then use the income generated by old assets to use is person who are good at financial management.

It is often said that before learning how to manage finances, it is best to understand about assets and liabilities first.

Assets are things that can give us money in the present, and give us profits in the future as savings, invested real estates, stocks, funds,...

Liabilities are things that make you spend money as consumable things, car loans, mortgages, etc.

Learn to distinguish between your own reasonable and unnecessary needs, then spend wisely.

2. If you have a small capital, let’s invest in your professional skills first

Many people often learn from Buffett's investment secrets, but few people know his most important investment view.

When being asked about the most important investment view, Buffett's answer was: "Myself!"

When your investment capital is not much, instead of following the crowd, be patient to take the time to upgrade your own knowledge and skills.

If you pay close attention you will see that, for most people in the workplace, especially those with a small capital, investing in yourself will be the most effective and cost-effective approach.

3. Don't invest all your eggs in the basket

Those who dare to take risks and not hesitate to face them, often become good investors.  Simply because they have a high tolerance.

There is no financial product which the returns are exceptionally high but the risks are extremely low.  This is a common law.

If someone tells you how high his financial returns are without telling the truth about the risks to be paid, then don't cooperate with them.

Learn to walk slowly but surely, divide the capital into many small parts, learn to "put eggs in many baskets".

Thus, when taking risks, you will have ability to overpass difficulties.

4. Use the leverage mindset to invest in yourself

In the workplace there are two main types of people:

The first people type will get their goals based on their abilities and resources. The second people will think how to find resources and integrate resources to get their goals done.  This is the leverage mindset.

Everyone understands that working hard does not guarantee success, but if you don't try, you will only fail.

The leverage mindset has great influence, even if there is the loss then It's not a big deal.

[RETIREMENT PLANNING] 5 SECRETS TO EARLY RETIREMENT FOR YOUNG PEOPLE

Money is the core of freedom. If you are wondering “How to retire early?” then here are 5 secrets to early retirement for young people.

5 SECRETS TO EARLY RETIREMENT FOR YOUNG PEOPLE

1. Accumulate money from right now

Save as much money as you can within your abilities, as much as possible.  Set aside a portion of your income for an accumulation, of course this is inviolable amount except in emergencies.

5 Secrets to Early Retirement for young people / ph: pexels 

If you want to retire early, you should consider thoroughly before spending, don't spend wastefully then regret it later.

2. Expand sources of extra income

Taking advantage of your youth, you should work as hard as you can.  Working a part-time job is also a way to expand your income source.

3. Minimalist living

Minimalist living is very beneficial for people because it comes with the habit of saving, it can both cut spending and help the mind gradually enter a state of "no-thought", getting rid of stress, anxiety and fatigue.

At some point, you will realize that life does not need to be rich with a lavish life but just need to be comfortable and happy.

4. Invest in finance and knowledge

If you want to have a comfortable life after retirement, you need to have an abundant saving source.  But just with the method of saving from the monthly salary is sometimes not enough.  One way to solve this problem is having financial investments to double your assets.

However, investments always come with risks, If you are willing to take risks, then be determined to do it, otherwise, just follow saving principles to gradually accumulate.

Besides financial investments, you should also invest in your knowledge.  Reading is a very good habit for those who want to enjoy a leisurely life without worrying about the future.

5. Invest in your health

Investing in your health is also a good way of saving for your future. 

After all, health is a prerequisite for us to live a happy and fulfilling life later.

Along with making money, you should also spend time for your body, paying attention to your diets to ensure that you are always in the most fulfilled health state. 

5 BEST WAYS TO MANAGE PERSONAL FINANCES

The problem of unreasonable spending is now quite common specially for young people and most of it comes from personal habits. Here are five ways to manage personal finances to help you make a reasonable spending decision to achieve financial freedom for yourself and your family.

5 BEST WAYS TO MANAGE PERSONAL FINANCES

1. Manage personal finances by spending less than you can afford

Reduce your spending ability a little less than it actually is. Change your lifestyle to suit your goals. This is really the key in better personal financial management.

There are many ways to live comfortably without spending your last money amount. But not everyone knows them.

5 best ways to manage personal finances / ph: pexels 

You can adjust unnecessary spending towards more savings when you have good habits. These savings will spend for later bigger goals like buying a home for yourself or traveling.

Take control of your spending on a mobile app or a small notebook and strive for achieving the set goals.

Look for suitable items instead of valuable items and satisfy your ego needs.

2. Manage personal finances through budget setting

People often think that budgeting with an excessively saving regime, sacrificing short-term comforts and denying own pleasures not only is this not good, on the contrary, it can also have bad consequences that make you decide to waste it all in just one night. Instead, set a balanced budget like you follow a healthy and balanced diet.

Personal financial management should become a habit, not an instant solution.

Establishing a safe and solid budget from day to month will keep you in good financial health.

Here are 3 types of budgets can help you deal with money disorders:

- Low budget

When you make less money or need to save up for something special like a house or a new car,..

- Average budget

Your money you earn is just enough for living costs.

- High budget

When you have extra money amounts.

Choosing the right type of budget determines your spending for that month.

3. Manage personal finances through priority choices in spending

- Choose the items or things that you think are really important before spending.

- Make sure you have a plan and this is the most important priority

- Make sure your long-term goals don't affect your short-term spending needs much

- Choose products and services with long-term using value and multi-use for cost optimization.

- Avoid buying short-term, cheap but poor quality items

- Create 2 accounts: one for necessary living expenses and one for urgent spending. Thereby, you can manage your personal finances more easily.

4. Manage personal finances by smart savings 

- Set financial goals in a specific context to know how much to save and for how long

- Set a motivating goal and commit to it

- Try to pay off personal debts and bank debts

- Each month, set aside your savings first, then spend the rest and don't use your savings. If 20% is too much, try starting with 10% or at least 5%.

This will help you create a habit of saving and creating your own fund.

- You can split all your money into 2 parts: 

The first part is for the need to pay for essential things on daily living. The second part is for savings, you can take it to the bank.

5. Manage personal finances by 6 financial jars method

The 6 financial jars method is a pretty simple way that everyone can apply to better manage personal finances.

- The 1st financial jar (55%): For essential spending needs

This jar spends for necessary living expenses as foods, paying electricity bills, water bills, etc.

- The 2nd financial jar (10%): Saving for long-term goals 

This is an investment that needs to be fixed for the purpose of buying your own home, car, or invest in your business.

- The 3rd financial jar (10%): Education and training 

Use 10% of income for the purpose of learning and developing yourself

- The 4th financial jar (10%): Entertainments 

This 10% of your income is spent for entertainment and leisure purposes which will help you create more energy and be more productive at work.

- The 5th financial jar (10%): Financial Freedom Fund

This fund is for investment purposes that generate profits as financial investment, real estate,..

Financial freedom is even more improved when you invest effectively and generate a lot of profits.

- The 6th financial jar (5%): Charities & giving

Show your gratitude, life is sharing and giving to receive more values. You will get a lot of joy and happiness when you share and give or grant charities.

DO YOU KNOW SECRETS OF JEWISH WEALTH & FINANCIAL PROSPERITY?

Jews seem to have an innate sensitivity to money.  Jews make up half of the world's richest entrepreneurs, one-third of the millionaires in the United States.  Oil king Rockefeller, one of history's most successful financiers - George Soros, Wall Street legend founder - J.P Morgan. The people standing at the top of this pyramid are all outstanding representatives of the Jewish nation.

The below 7 mindsets are the reason why Jews around the world achieve such extraordinary success that the whole world admires.

DO YOU KNOW SECRETS OF JEWISH WEALTH & FINANCIAL PROSPERITY?

1. Use the mind to make money

To make money, Jewish entrepreneurs appreciate ingenuity and use their brains to make money, only those who know how to make money are really smart.  So we need to use our brain to think, analyze, pay attention to emotional needs, maintain consumers’ value, make business easier.

2. 78:22 rule 

The 78:22 rule is a law of nature, 22% of industries as clothing, food, construction, jewelry, medicine, etc. basically account for about 78% of daily consumption.  Most of the traditional business of Jewish merchants was concentrated in these industries, especially in women's and children's goods.

Do you know Secrets of Jewish Wealth & Financial Prosperity? / ph: pexels 

The 78:22 rule is also common in the market that 22% of customers generate 78% of a company's profits and 22% of products are the core products of the company. Therefore, business activities need to be based on customer value, capture key products and key customers, to improve the efficiency of marketing efforts.

3. Reasonable spending

The Jews value frugality, but they do not hold money blindly.  They spend reasonably, not waste money and not save excessively.

If there is an opportunity to make money, Jews will not hesitate to try to invest.  So, if you want to get high returns, you must be willing to invest strongly to accumulate assets which will give you opportunity to develop your career.

4. Value time like gold

To the Jews, time is life and time is money.  Jews seize business opportunities on every minute and every second.

Therefore, in the competition in the market, you need to be one step ahead, always proactive and have a plan to respond to changes.

5. Rely on information to seize opportunities

In the business world, information is most important.  Jews take very seriously of information gathering in business competition which has made them famous as knowledgeable people, once there is an opportunity to make money, they will never let it slip away.  Therefore, we should seek information from many different sources and get accurate information to act quickly and seize opportunities.

6. Flexibility in coordinating all fields

According to the Jewish economist William Rison, the world has all the resources you need, all you have to do is collect them and use your wisdom to combine them properly.

7. Know how to avoid risks

Jews place great emphasis on risk management.  In the process of running the business, they pay special attention to safety and reliability.  Therefore, before investing, Jews will conduct market investigation, research and analysis.  And when they have decided to invest in business, they will definitely make 3 sets of short-term, medium-term and long-term plans rather than "putting eggs in one basket".

FAMOUS FINANCIAL EXPERT’S 6 SPENDING SECRETS

Here are personal finance strategies, spending tips, and savings that Suze Orman  - A businesswoman known as a "witch" in the US financial world, one of 100 most influential businessmen in the world gives everyone.

The famous financial expert’s 6 spending secrets / ph: pexels 

1. Live according to the needs but below ability

According to Suze Orman, this is a golden rule. Foods and housing are necessities, but you shouldn't spend too much on them.

2. Stop paying extra for small utilities

The difference between the cost of ordering food for home delivery and cooking for yourself, between taking a taxi and taking the bus/subway seems small.  So many people have chosen convenience without knowing that it will become a big number over time.

3. Get out of debt as soon as possible

 "Debt is binding, you'll never have financial freedom if you're in debt," says Suze Orman.  Debt costs you money because it has to pay interest.  It can also negatively impact the choices you make in your career.

4. Never guarantee a loan

According to Orman, guaranteeing a loan  for a friend or loved one is a bad idea.  If they go bankrupt or late payment then it is you who will be financially responsible.

5. Don't rush to buy a house

Orman advises that don’t rush to buy a house on installment, depending on where you live, sometimes renting is a more reasonable option.

This is especially true if you live in an expensive area.  Instead of buying a house with installment payments, you can use that money to invest.  When you earn enough money to buy a house, then you will own your own house without debt.

6. It doesn't matter how much money you earn

Even if you only earn $35,000/year, if you know how to spend and manage your finances wisely, you will still achieve better results than someone who earns $350,000/year. This advice is suitable for anyone, even those on a low income.

4 TIPS FOR FINANCIAL INDEPENDENCE, RETIRE EARLY (FIRE)

Financial Independence, Retire Early (FIRE) is a goal that most people pursue throughout their lives, but how much does it take for a person to enjoy a happy life without working?

FIRE stands for "Financial Independence, Retire Early” has prompted people to start thinking about the possibility of retirement at a very young age.  This is no longer a problem just for those entering middle age.

Financial Independence, Retire Early is a goal that most people pursue throughout their lives / ph: pexels 

According to Google Trends, searches for "retirement" hit a three-year high. So what are the principles for achieving Financial Independence, Retire Early as soon as possible?

1- How much money do you need to retire early?

According to the book "Life of Financial Freedom" by Yang Yingchao, a former financial analyst, the spending amount each year multiplied by 25 times will give a spending amount needed to use for remaining half of life.

It should be noted that this calculation is not an absolute theorem.  Usually, there are still other factors that can change the final figure as inflation, devaluation, etc.

Additionally, when calculating monthly fixed expenses, we often ignore urgent expenses as medical treatment, education, travel for children,..Therefore, when evaluating personal financial freedom data, it is needed to calculate more carefully to suit each individual circumstance.

2- Spending management

To achieve Financial Independence, Retire Early, controlling your spending now and after retirement is crucial.  Using handwritten accounting books or some other application on the phone to take notes… will be a useful habit.  You can use whatever tools that you feel most convenient and appropriate as long as you develop them into a habit.

Moreover, you should only spend your money on worthy things.

3- Moonlighting jobs 

In addition to saving, the higher the income, the simpler the threshold for achieving Financial Independence, Retire Early.  In fact, in the early stages of investing, increasing principal is more important than chasing a interest ratio. 

Taking a part-time job and earning extra money are stable options to expand your main income which will help you to retire earlier.

When working in a job other than your main specialisation, you need to clearly understand what you are doing for? Income or future job growth, and then allocate your mind and energy accordingly. Many people choose second and third side jobs which revolve around their main works to complement each other.

4- Investment 

Nowadays, a part of young people do not want to accumulate assets with fixed deposits like their parents did.  They are attracted by capital markets that potentially offer high returns to them.

For people who are not experts in investment, they should choose stable or familiar investing fields, spend time observing and learning, and gain experiences before officially starting to invest.

The compounding over time is significant, whether it's financial management or investing, the sooner you start, the greater you will get.  Preparing for Financial Independence, Retire Early is not a negative manifestation of life, but rather a starting point to enjoy life to the fullest.

[FINANCIAL MANAGEMENT] HOW TO DEAL WITH FINANCIAL STRESS AND ANXIETY: 5 WAYS

You have to change jobs, temporarily unemployed or fired due to the epidemic, and you are extremely headache with your financial situation.

The pandemic has been affecting all of us.  For those who stay at home for a month or even a few months is not easy, in addition, you also have to deal with your own financial situation.

Moreover, for better disease prevention, we also rarely go out to meet friends, relatives,...  All of this can lead to both emotional and financial stress, especially if you're worried about mounting debt and managing your spending at this time.

But don’t be too worry, there are ways to manage your financial stress with these 6 ways and put your mind at ease.

1- Focus on what you can control

Feelings of insecurity and stress can arise when you feel anxious or frustrated.  During a pandemic, this can lead to financial stress.

How To Deal With Financial Stress And Anxiety? / ph: pexels 

However, here's an important thing to keep in mind: you may feel stressed from not being in control of your situation. While there are many things that you cannot control, just focus on what you can.

2- Priority payment

If your money amount is tight and you can't afford everything, start prioritizing your payments to make sure you're covering the essentials first. 

To keep things organized, list your bills and monthly payments in order of importance.  This way, you'll know what to pay up front, and then write down any payments you can postpone.  Move those things lower on your priority list so you can pay the necessary bills first.

3- Make more money

If you are worried about your finances, you are not alone.  One thing you can do is explore opportunities to make more money at this time.  Manual jobs such as shipper, taxi drivers, hourly maid... will not require too many skills.

There are also plenty of ways you can start a full hustle life at home.  While you may need to take some online courses to learn some new skills, with a little creativity and ingenuity you can start making money as a virtual assistant, tutor, teacher, yoga teacher, translation, writing...

4- Save some money if you can

Maybe you've wanted to save money in the past but have never taken it seriously.  So, now is the perfect time to develop healthy savings habits if you still have an income.  This can also help you take control of your finances.

5- Take care of yourself

Practicing self-care can be a great way to manage financial stress during difficult times.

For starters, try to exercise every day, even if you're only walking for 20 minutes or brisk walking.

Also, eating healthy foods can help you feel more energetic.

So choose healthy foods at affordable prices, such as fresh products, lean protein, and foods high in fiber like brown rice and other whole grains.

Sleep is also important for your health.  To help you sleep better, try developing an evening routine to help you relax during the day.

The best way to manage financial stress during difficult times is to assess your situation and make a plan.  So, use these 5 suggestions to help you handle your financial stress then come up with a financial plan that's right for you.

[FINANCIAL MANAGEMENT] 6 FINANCIAL HABITS OF THE WEALTHY

To become rich, using money to make money is not an easy thing.  To do that not only have a stable job with a good income source but also know how to spend money wisely.  This depends on our money habits. Let's check what are financial habits of the wealthy.

1- Savings

Actually saving is not depend on how much money you earn.  Owning a savings account is the most powerful proof that you are whom knows how to spend and use money wisely.  This is also the first good financial habit that helps you get profit from your money. 

2- Not shopping unconsciously

Unconsciously shoppings always do more harm than good.  It has a direct effect on your financial security, easily pushing you into financial difficult situation. The wealthy know exactly when and how to spend money on shopping.

3- Take use of free time to earn more money

If you just want to live on a monthly salary, you cannot become rich. 

6 Financial Habits of The Wealthy / ph: pexels 

People with a wealth mindset will have a lot more different incomes to accumulate gradually.  To do so, in addition to 8 hours of a working day, they accept to exchange their free time to earn more money with different jobs.

4- Daily spending record

Recording your daily spending is a very beneficial financial habit.  This helps you keep a close eye on where your money has been poured, whether it is wasted or not.  At the same time, it will also serve as a reminder, helping you get out of shopping cravings and spending money for things beyond your ability.

5- Passion in investing 

It can’t be denial that one of best way to use money to make money

is investing.  People with wealth mindset always know how to seize opportunities to earn more money, owning many different investments.  They are reckless, risky in investment and business. They understand well that taking risks is the first step to become rich.

6- Stay away from debt

The wealthy always find a way to stay away from loans, if they fall into debt, they also plan to pay, get rid of that burden immediately. 

The financial habits of the wealthy are savings and investing to multiple their money over time.

FINANCIAL MANAGEMENT: 5 TIPS FOR SPENDING MONEY WISELY

Regardless of income, saving money depends entirely on how each person spends. People who are good at saving are those who know how to plan their expenses effectively and take advantage of each resource in the house.

Here are 5 secrets of spending money that Japan's most effective savings families never share.

5 Tips for Spending Money Wisely / ph: pexels 

1- Not go shopping every day

Even if a person intends to save, going to the market or shopping every day poses the risk of having to spend more money.  People who are good at savings tend to shopping less right from the start and but instead decide in advance when to spend their money, like weekends.  This habit will also help reduce food loss effectively.

2- Not deciding what to buy when going to the store

When entering a store, maybe cheap items will make a person feel to have a good deal but in reality, that is not the case.  Making a shopping list and buying only the essentials is the best way to save money.  When listing from the most in-demand item down, at a certain point, the spender will find that his budget is no longer enough, so he will buy it next time.

This list-making method can be applied to anything from everyday necessities like food to clothing and household items.

3- Not buy things you like in bulk

Many online shopping deals often offer a discount on bulk purchases.  However, with some items, consumers may have a loss, especially luxury items such as alcohol, cigarettes or sweets because they will be inventory in the house and the buyer will have to consume them more.  Then, when used to it, that person will wait for the next discount to buy more, in large quantities and regularly.

4- Use a family notebook

The Japanese have a very good way of both managing spending and controlling what has already been bought in the family handbook. In fact, it's an extension of making a list of things to spend, specifically listing what you have in your home right now and how it is used.

For example, in a refrigerator, if a person has good control of the amount of food he has in it, there will never be a problem of rotting food that has not been used or there are items left in there for too long.  leading to reduced nutrition and no longer delicious.

5- Become a member of the secondhand market

In Japan, due to a very strict waste classification system, if household items are no longer in use, people must contact waste companies for disposal.  This will cost a lot depending on the size of the item, possibly up to several hundred thousand yen.

Therefore, many Japanese people often choose to call second-hand stores to resell if they want to change their furniture.  The selling price is usually not high, even much cheaper than their use value (many are still in good use because the Japanese don't use the items until they're damaged, but usually have a shelf life, 7 years at most). However, such a resale at least makes a profit, and is still better than having to pay extra for the cleaning units to come and take away the items.

RECOMMENDED SAVINGS AMOUNTS IN LIFE PATHS

Never too old and never too young to start saving.

Starting to save money is not an easy thing to do in a day or two.  Saving more money than spending is not a game or shackles and not enjoy life.  It is a lifesaver for you in times at risk, or even further, is the boat that takes you to a comfortable and peaceful life in later years.

At each different age, you will need to have a certain amount of wealth to secure your future.  This number can be different for each person, depending on your financial level and income ability.  However, you can completely refer to the following milestones to adjust and plan to save for the future from now on.

Recommended Savings Amounts in Life Paths / ph: pexels 

A-20s: Start building the habit of saving gradually

At the age of 20, if you don't have anything yet, don't worry, this is normal.  This is even a good sign because many young people, because of their spending habits and mistakes, are still burdened with debt or have to work day and night to pay the loans.  Therefore, your savings account in these years can completely stop at 0 as long as it is not a negative number.

Although you do not put a lot of weight on the balance of a savings account, the age of 20 is an important milestone when you need to clearly plan your future financial goals, clearly define what is an asset and what is a liability to have, reasonable spending habits.  Along with that, you should also invest in knowledge, learn about business forms, invest money to make money.  Next, you also need to form a saving mindset, start focusing on having a savings account, no matter how much you have.

B-30s: Boost earnings & tighten spending

When you are in your 30s, you will likely get promotion in your career and possibly earn more money.  But this is the time when life will tend to spend more than earn with money amounts such as getting married, buying a house, buying a car and having kids,..

However, you still have to maintain the habit of saving.  Your entire life now or in the future depends on this habit.

It is recommended that the amount of savings you should have by age 30 should be half of your annual income. To be able to do this, you must try to reduce debt, actively earn money, participate in business investments and tighten spending more.

C- 40s: The more stable you are, the more you have to save

By the age of 40, most people have a stable career and stable finances, and are not as hard-working for money as before.  For this reason, many people begin to neglect the matter of savings and gradually consider enjoying themselves.  However, the more stable your life and work, the more you need to save.

At this age, you no longer need to present yourself in front of others.  There is no need to have costly shoppings for appearance. The stable 40s also means that without a major turning point, your wealth will not be able to increase as quickly as before, all final financial decisions are uncertain.  Who knows next year you will change jobs or buy a new, more comfortable house.  So, the safest thing is still to have savings, the amount of money you should have for saving at the age of 40 must be equal to at least 3 years of your salary.

D-50s: Don't go in the wrong direction

The hardest thing at the age of 50 is not how to have a lot of money in the savings book, but how to keep it from falling out of the wallet. Many people regret having missed the opportunity to get rich when they were 30-40 years old, so they begin to choose the age of 50 to invest with hoping to earn money based on their confidence in experiences of doing business in many years.

At the age of 50, before deciding to invest with rich ambitions, take a look at your financial capabilities, learn everything carefully before pouring your money.  And of course, no matter how ambitious, you  must have an emergency reserve fund in the case of financial risks and not being able to recover in time.  The amount of money you save at age 50 should equal 6 years of your income.

E- 60s: Last life path to enjoy the savings results

60 years old is when you can gradually let go of financial burdens or money problems and focus on determining what you want to do most after retirement.  Some people choose to gather with their family, children or enjoy traveling... Some people still have the same passion for making more money and want to expand their assets.

No matter what you plan to do, what you need to make it happen is money.  At the age of 60, the amount of savings you should have should be 8 times your annual income, and when you retire at age 65 - 67, that amount should stop at 10 - 11 times.  Only when you have that amount of savings, can you enjoy a comfortable elderly life, helping and taking care of your children and grandchildren when needed.

4 BAD MONEY MANAGEMENT HABITS OF TODAY’S YOUTH

To build wealth, breaking bad money habits is just as important as establishing good financial habits.

If you want your financial situation to improve in 2022, break these bad money habits right now.

1- Spend as much as you earn, even more

This lifestyle makes it almost impossible to accumulate any savings, even go into debt.

The solution is to try to live below your abilities, spending less than you earn.  Start tracking your credit/bank card statement each month now and identify expenses that can be cut.  2021 is almost over, let's promptly build this good habit for 2022!

According to many financial planners, today's youth always spend too much money, here are the two main reasons to keep their pocket always empty.

4 Bad Money Management Habits of Today’s Youth / ph: pexels 

We've all made the wrong spending choices from time to time, and according financial planners, there are two things that cause today's youth to overspend.

1.1- Excessive spending on utilities

The youth generation is now used to a culture of instant gratification.  As a result, they tend to spend a lot on utilities, making things quick and easy.

You can totally spend money on these essential expenses, but it becomes a problem when it doesn't go over your budget or prevent you from achieving your financial goals.

Savings should be your priority before considering how much you can or should spend on these amenities.

One of the first things to consider saving is a saving that can cover your expenses in the event of unemployment or epidemic.

1.2- Spend on valuable items

One of money problems that the youth nowadays often have is the habit of uncalculated spending and unfollowing the planned plan, especially for high-value items that are not really needed.

It is recommended to develop a conscious spending plan that you're comfortable with.  For example, planning to buy a house, preparing for future retirement funds,..

2- No specific goals

If you want to save or earn more money, you need to have a clear goal and a specific plan to achieve it.

Start by identifying exactly what money goals you want to achieve in 2022. For example, increasing your emergency fund, investing in a certain area as real estate.

Once you've set a specific goal, figure out how much you'll have to save each month to get there.  Then set up automatic recurring transfers from your salary account to your savings account, making sure your plan will not be broken.

If the goal is more abstract, such as increasing your income, write down the plan.  For example, you might need to negotiate a raise or start a side job, or a combination of the two.

3- Wait until you have a lot of money to invest

The sooner you invest, the more you can take advantage of the power of compound interest.

There is a lot of investment fields that you can start with with just a small amount of money.  Experts, including Warren Buffett and Mark Cuban, recommend investing in index funds with a small amount of money initially.

The key is not to wait.  Even if you only work for a salary, form the habit of setting aside a small amount each month to invest.  Whenever you get a raise or bonus, try to put that money into savings and investments.

4- No Retirement Funds

Retirement is still too far away in the minds of many people.  But the longer you delay building a retirement fund, the more pressure you'll face later on.

Personal finance experts recommend putting at least 10% of your pre-tax income into retirement fund.  If you can't afford to save that much, just start with 1% and gradually increase the amount as you can.

 

10 STRATEGIC MINDSETS TO BECOME A BILLIONAIRE

For a self-made man, innovation is his best weapon to counterattack and become rich.  Always having a creative mind and constantly innovating is the way to help you achieve many opportunities and occupy the top in your field of expertise.

10 STRATEGIC MINDSETS TO BECOME A BILLIONAIRE

1- Trending mindset 

Trends are what bring opportunity and wealth, successful people always understand this truth.

If you catch the trend, it means you have dug a treasure, and the acquisition of wealth is obvious.

Trends often change according to the market, so you also have to be flexible when gathering information.  If you do not have an understanding of what is the current trend in your country, in the field you are working in,... then you will most likely be eliminated by society quickly.

10 Strategic Mindsets to Become a Billionaire / ph: pexels 

Keeping up with the times and following the trends will help many people get rich quick.

Trendy thinking can be applied to many aspects: From career to marriage, investing,...

The right choice will be like an effective assistant that will help you save a lot of time and effort.

2- Exchange mindset

There are many poor people in society because most of them have to waste time and money to accumulate wealth for others.

If one day you can get others to spend money and time on you or what you create, then you can become rich.

This world is like that, if you can\'t create a lot of value, it will be difficult to catch up with others and get rich.

3- Value mindset 

A lot of people put in labor and intelligence to make money.  But if you\'re the only one offering an exclusive value that others can\'t, so you can earn big money.

The best is often the only one that others cannot replace.

Rich people won\'t marry a woman just because she\'s beautiful.  They may be willing to marry a woman whose appearance is not too outstanding, but in return, they must know how to help them in their career.

Personal relationships are similar, normally a lot of people go to each other for exchange of equivalent value.

Therefore, the more you yourself are worth, the more wealth you will be able to create.

4- Innovative mindset 

Those who dare to go their separate ways can open up a fertile land of their own, because there is not much competition here.

If you do not have an innovative mindset and only follow the trend, sooner or later you will be left behind.

For a self-made man, innovation is his best weapon to counterattack and become rich.

Innovation is the way to help you achieve opportunities and occupy the top of your field of expertise.

5- Learning mindset

Learning makes you stronger in knowledge, a way to recognize opportunities and discover new things.

6- Crisis mindset

The rich don\'t just think about the positive all the time, they also think about the risks.

Feelings of crisis are like teachers, teaching them how to avoid potential dangers, as well as urging them to constantly improve.

If you do not think about risks in advance, when a crisis occurs, it is very difficult for you to calm down, and wealth follows one after another to go.

7- Leading mindset 

In any industry, as long as you become the leader in the industry, you are the richest person in that industry.

In the venture capital industry there is a saying that goes like this:

“If you are not the first, why should I invest in you?"

In other words, most people will look at the track record, betting on the leader will be the most effective and least risky investment.  That is also the reason why partners often actively approach leading companies in the industry to find investment opportunities.

The first-place mindset can be exhausting, but it\'s also a way for you to constantly strive for success.  Even if you can\'t become the richest, at least you can achieve a moderate amount of wealth.

8- Professional mindset 

Professional skills are the capital for wealth creation.  But the rich will use both their skills and their own forte to make money.

In fact, in addition to discovering business opportunities, a better way is to start with your own expertise.

If you don\'t have expertise then let’s develop it, find potential demand through expertise, then use this knowledge to generate income.

9- Adventurous mindset

If you want to be rich, you must accept to go on a risky path.

Taking the risk cannot guarantee that you will be successful.  But if you don\'t take risks, your whole life will be mediocre.

Of course, it\'s wise to take risks.  You have to distinguish which risks should be accepted, which risks should be overcome to get the results you deserve.

10- Systematic mindset 

A system is a business model or profit model created by integrating various resources.

As long as the system works normally and continuously, it is possible to automatically earn money. 

In all the big companies, they learned how to manage the tight monetization system.  Thanks to that, their earning ability is getting stronger and stronger.

10 WAYS TO REDUCE LIVING COSTS TO ACCUMULATE MONEY

Whether or not your budget is being impacted by the overall tough economy, it\'s never too late to save money. The best methods of saving and accumulating money need long-term value, efficiency and sustainability.

Here are ways for you to save money and reduce living costs in the right way, bringing good results in the long run while still ensuring quality of life.

1. Refinance of the house

If you\'re paying off a home loan, think about refinancing, paying off that loan with another loan with a lower interest rate.

You can look for other banks with better policies, or ask for help from relatives.  Any option that helps you reduce interest rates is beneficial.  You will save money in the long run under the agreement until you pay off the mortgage.

2. Moving to an area with a lower living standard 

Consider moving to an area with a lower cost of living.  When the rent is reduced, spending on essential needs is also lower, you will save money effectively without having to find ways to tighten spending.

3. Moving to a smaller apartment

If you have work commitments or other responsibilities that can\'t be moved, consider switching to a smaller and cheaper apartment in your area.

10 ways to reduce living costs to accumulate money / ph: pexels 

If you are having a mortgage to buy a house but feeling that the debt is exhausting you, you can also apply this measure.  However, you need to keep in mind that selling your house will come with a number of other costs, such as cleaning and repair fees to have a house ready for sale.

4. Selling your Car 

When you don\'t really need a car for your work and life, it can be completely replaced by another mode of transportation, sell your car if you want to save money.  The cost to maintain a car every month is not small, selling cars helps you to accumulate a significant amount of money in the long run.

5. Paying off debt as soon as possible

Debt always comes with interest, once the principal amount has not been paid off, you still have to pay the interest incurred.  By getting rid of debt, we will save on interest costs in the long run.

6. Unsubscribe from recurring payments you don\'t really need

Are you paying for monthly services like cable TV or a gym membership, but not using them often?  If so, that would be a huge waste.

Let’s cancel the same services immediately, from now on you will save a lot of money every month.

7. Trying to reduce insurance cost

You should not think that the payment for insurance types is fixed and cannot be reduced.

In life, we need many different types of insurance as health insurance, life insurance, auto insurance, home insurance, etc.

You can completely contact insurance companies to find the most economical insurance package that still meets your purpose.  Additionally, you can ask to know if you are eligible for cost incentives or not.

Do those things once and you\'ll save on insurance costs in the long run.

8. Cultivating financial management knowledge

When you have enough understanding of financial management, you will know how to spend smartly and effectively preserve the money that you worked hard to earn.  At the same time, you will also know how to invest to increase your wealth.

Those financial management knowledge will follow you for the rest of your life, helping to save and get rich not only in the present but also in the long term.

9. Building additional income

There are always many ways for us to earn extra income besides the main job, from renting an empty room in the house to selling online or working as a tutor, translator...

Using the skills and knowledge you have to start building at least one additional source of income.  That not only helps us to increase the amount of money accumulated in the present, soon to become rich in the future, but also to prevent events and risks from arising.  When you own multiple sources of income, you will be safer if unfortunately your main source of income is interrupted.

10. Tracking your spending

Expense checking is a must-do if you want to save money, but it\'s often overlooked.  Tracking your spending helps you see if your expenses are really necessary.  Cutting back on unimportant purchases, and your cost of living will lower.

The formation of this habit is important to help us save money and at the same time become a wise consumer.

 

MONEY SAVING CHANNELS: 2 BASIC RULES

When you open a savings book at a bank, the term is usually no more than 36 months.  Thus, if the contract matures and does not automatically transfer principal and interest to the new term, your savings will be affected.  This leads to the final number not as expected.

People who know how to keep money are people who know where to put their income.  Here are some points you need to pay attention to.

I- Comparing multiple channels

Each savings channel has different characteristics.  Depending on your goals, you can choose the most suitable channel.

1- Bank savings or fintech platform?

With an interest rate of around 5%, depending on the bank, depending on the term, bank savings can be considered a traditional and quite safe form of accumulation.  Most of us should have this money for long-term accumulation, or in case of urgent financial needs.

However, as mentioned, the term of savings in a bank or fintech platform usually ranges from 24-36 months.  Therefore, one of the top notes is that you need to constantly refer to transfer capital and profits to another savings account when it expires.

Because, if only using the bank\'s automatic mode, the interest rate after the extension may not be the same as the original (higher or lower depending on the economic situation).  From there, your savings will also be off target.

2- Saving by buying a certificate of deposit

Certificate of Deposit is a valuable paper similar to a passbook issued by a bank.  Objective is to raise capital from organizations and individuals.

How to increase savings rate? / ph: pexels 

The advantage of certificate of deposit is that the profit is usually higher than the savings interest rate, the term is from 3 months to 5 years depending on the bank.  However, the downside is that you cannot withdraw before the maturity date.

3- Buying investment-linked insurance

Comparing to the previous two channels, insurance is a more long-term form of accumulation.  If you want to save money with health benefits, then insurance is a relatively good channel.  At the same time, participating in insurance is an effective way to help you practice discipline in planning your savings.

Insurance policies can last 10-20 years depending on your needs and finances.  If you buy early, when you are young and without disease, the more benefits you will enjoy.

There are many insurance companies on the market with a variety of packages, the information is quite complicated.  Therefore, to avoid making the wrong choice, closing your account before maturity and losing money unfairly, you should take the time to talk and learn at least 3 companies and consultants.

4- Saving by investing in fund certificates

Investment funds or fund certificates also allow you to contribute money every month with contracts that can be up to decades.

Through fund management companies, you can invest in portfolios including stocks, bonds, even real estate.  You don\'t need a lot of knowledge because a mutual fund expert will help you manage.  Every month, you deduct part of your income into this investment channel and consider it a form of savings.

With this channel, you need to choose an investment portfolio to achieve the desired rate of return.

Everyone has a different level of risk tolerance.  As you review, you should consider the impact of fees on profitability and look at historical reporting to see how your portfolio has grown.

No matter where you decide to put your money, you need to keep in mind:

- Consider the level of risk and safety in each channel.

- You can fully allocate money, diversify your savings portfolio to spread risks, not put all your eggs in one basket.

- With savings at the bank, you should pay attention to the issue of renewal, take the time to manage and optimize this cash flow thanks to compound interest.

II- How to increase savings rate?

The above items are a form of passive investment.  Additionally, you can learn active investing so money makes money.  Returns from investment are always higher than savings channels.

Sometimes, savings can\'t beat inflation.  If inflation is 5% and your savings rate is also at 5%, then you\'re just protecting your money from depreciating, not growing it.  Moreover, the inflation story of the next 30-40 years may be different.

If you are young and your risk tolerance is high, then even if your investment loses money, you still have time to rebuild.  You can also limit your risk by equipping yourself with basic knowledge, even if you invest directly or ask an investment professional to invest on your behalf.

FINANCIAL FREEDOM: HOW TO GAIN IT RIGHTLY?

In economics, investment is related to saving money and delaying consumption.  Speculation is buying an asset with the hope that it will become more valuable in the near future.  But when you are complacent, choose a shortcut, and value speculation more than investment, it is easy to fall into the market\'s trap, lose miserably without a way back.

In recent years, financial freedom has always been a phrase that young people look for.  So how can financial freedom be achieved?

In fact, smart people will always manage their finances along with managing their personal lives.

This is not an easy thing, so to make things go smoother, there are a few things you must know.

1. Setting clear goals

Life is like managing money, so there should be clear goals.

For any new field, when we want to start, we must first understand ourselves. 

Financial management is the same, each person can only make money within understanding.  If there is no capacity to keep, sooner or later the money from luck will be used up.

Spirit determines success or failure.  We always spend a lot of time choosing the style of our clothes, but we forget to choose what is right for us.

Financial freedom: How to gain it rightly? / ph: pexels 

What is our goal?

Whether it is financial management or life, there should be certain goals.  With a predetermined target, we can stay on track and work harder.

2. Investment instead of speculation

Everyone wants to be rich, but our subconscious always has fears, insecurities, lack of confidence that prevent us from having the opportunity to make money.

Simply speaking, your sense of making money is not strong enough.  So, if you want to be an excellent financial manager, you must always maintain financial awareness.

Remember that financial management is not to increase wealth exponentially, but to bring happiness and satisfaction to people.

As an investor, don\'t turn big money into small money, but learn how to quickly change, turn a small amount into a large amount.

If you want to do business, you should be based on knowledge and practical experience, gain trust from customers.  Save and spend reasonably, don\'t self-destruct for the future because of speculation.

In economics, investment is related to saving and deferring consumption.  Speculation is buying an asset with the hope that it will become more valuable in the near future.

But when you are complacent, choose a shortcut, and value speculation more than investment, it is easy to fall into the market\'s trap, lose miserably without a way back.

It is very difficult to get rich quickly or become famous overnight.  So don\'t be easily tempted by "shortcuts".

3. Invest in yourself first

If you want to make an effective financial investment, you should invest in yourself first.

Investing in yourself is considered the most effective way of financial management.  As we learn new skills, these will bring us more opportunities in the workplace.

And eventually, they will turn into personal property!

Of course, when it comes to investing in yourself, it\'s not just about professional investment, but also about looks, creativity, and most importantly, health!

Everyone knows that life is a race, but few people pay attention to fitness but only worry about whether the rivals have reached the destination or not.

Activity leads to endurance, and happiness leads to longevity. Good health will make us profitable for a lifetime.

We always have to work to make money, but at the same time we should remember that money is not everything in our life.

So, let’s set up a way to manage money and life effectively.

[FINANCIAL MANAGEMENT] 6 RULES TO PREVENT FINANCIAL CRISIS

Not everyone has the conditions to be equipped with knowledge about money early on.  The lack of attention to cash flow leads to many cases of passive exposure to risk and at the same time difficult to achieve financial freedom later.

However, you can still learn and change to have a better chance of creating a stronger economy.  Below are some mistakes young people often make.

1- Not knowing your own financial situation

According to Money Under 30, regularly checking our financial situation helps us to adjust our lifestyle and be more proactive in money matters.

6 questions to check your financial health according to Investopedia:

- How do you prepare for contingencies?

- Take the total assets owned minus the amount owed, how much do you have?

- Have you achieved what you need in life and what you want?

 - What debts do you have that are considered high interest rates?

- Are you actively saving for retirement?

- Do you have enough insurance to cover health and life risk

2- Spending money on unnecessary things

Many people who go to work often fall into a state of empty pocket when the new payment period has not yet come, even though there is no significant expenditure.

In fact, small amounts of money such as coffee, clothes, eating out, watching movies online, etc., when combined, will affect your pocket.

The best way to protect your finances is to have a specific monthly spending budget, excluding sundries.

Financial Management: 6 rules to prevent financial crisis / ph: pexels 

How to make a basic budget according to Nerd Wallet:

- Spending 50% of income on essential living expenses

- Using 30% of income for hobbies and entertainment activities

- Retaining 20% of income for debt repayment and savings

3- Living on debt and credit cards

If you often use your credit card to pay for things you can\'t afford, the advice is not to maintain this habit.

In some cases, credit card interest charges an additional cost for the item.  This means you have to pay a higher amount than it actually is.

Moreover, taking this month\'s income to pay the previous month\'s credit, and then continuing to spend it with the card creates a vicious cycle.

Instead, you should only spend the money you have, and use your credit card for the purpose of building a good credit history, setting the stage for needed loans in the future, Credit Simple suggests.

4- Investment without calculation

Investing in emotions, not understanding the market thoroughly, easily leads to failure and waste of money.

Once losing money, not everyone has enough capital and patience to start over.

Therefore, being careful in investment is the top factor for you to gradually learn from small mistakes.

To be proactive in investment decisions, you need to understand yourself and financial products well enough to build an appropriate strategy and portfolio.

Each person will have a different financial capacity and risk perception.

5- Lacking of emergency fund

An emergency fund is money amount you can use to meet unexpected expenses, like medical care, living expenses during unemployment or home repairs,..

Many people ignore this provision because they think that life is stable, the above problems rarely happen or if they do, they will always have a way to manage.

However, you will think again when you know that the fund also acts as a protective net for your savings, helping you to continue towards your financial goals despite the uncertainties.

For example, if you are unfortunately unemployed, you can use your emergency fund to cover it, instead of touching your savings to buy a house.

6- Not preparing for retirement

Most personal finance-related advice is geared towards building a pension fund for life in old age.

Choosing a financial plan for retirement depends on each person\'s point of view.  But there is a fact that the more assets you have accumulated, the easier it is to pay for problems such as health care, travel, ... when you stop working.

There are many ways to prepare for retirement.  The simplest is to start from a young age, transfer a fixed part of money every month into a retirement account. Besides, you can consult with financial advisors to arrange specific plans.

GIVE UP THESE 4 BAD HABITS TO GET RICH QUICK AND GREAT SUCCESS
 

4 bad habits will hinder your wealth that you need to give up now to get rich quick and GREAT SUCCESS. 

Bad habits are always a hindering factor in many people\'s lives.

When it comes to get rich quick and GREAT SUCCESS, we all like the idea of ​​having a lot of money in the bank, but what most people don\'t realize is that it doesn\'t take a lot of money to make people rich, but rather wealth is simply about habits and lifestyles.

 Here are the common habits that prevent you to get rich quick and GREAT SUCCESS which people think of:

1. Having only one source of income that can\'t help you to get rich quick and GREAT SUCCESS

You may have heard this problem over and over again, but if you only make money from one source, it will be difficult to get rich quick and GREAT SUCCESS.

 One study found that most millionaires have about two or three main sources of income, plus side investments, meaning they can make money and keep it safe in the future.

2. Being complacent with what you are doing that prevents you to get rich quick and GREAT SUCCESS

When was the last time you thought about your professional career and where is it heading?

 As we age and advance in our careers, at a certain point, we end up settling in our positions and becoming complacent.

We are not trying to get better, get promoted or climb higher.  We just feel comfortable where we are, and this is a wealth.

 Naturally, people look for a safe zone because that makes them less anxious, but if you want to become financially secure and to get rich quick and GREAT SUCCESS, you need to keep climbing even higher until you can not.

 Luckily, you live in the modern world, so there are many ways to do this.

3. Don\'t read much that can\'t help you to get rich quick and GREAT SUCCESS

Don\'t read much that can\'t help you to get rich quick and great success  / ph: pexels

If you want to grow, whatever it is, be it financial management or educate yourself in any area of ​​your life, you need to make sure you\'re reading.

 According to a study by Corley, about 92% of people with meager wealth due to not reading to grow.

 On the other hand, almost every millionaire in the world has the habit of reading with the aim of learning and development which helps them to get rich quick and GREAT SUCCESS.

Of course, reading is fun for entertainment purposes, but you need to diversify your reading options and buy some books on topics you want to know about.

 "It\'s not how much money you make, but how much money you keep, how hard your job is and how many generations you have kept it."  - Robert Kiyosaki

4. Make your life delay that prevents you to get rich quick and GREAT SUCCESS 

Make your life delay that prevents you to get rich quick and great success / ph: pexels

A bad habit without an introduction.  All of the above habits that prevent you to get rich quick and GREAT SUCCESS are based on this single thought that if you postpone your life, nothing will happen.

 You can\'t work 24/7 all the time and expect yourself not to burn out.  However, if you know how to plan what you do, it will become easier.

 End playing games, shopping or watching movies because these activities are not helping you to grow or not having good results, it will only waste more time.

Let\'s take use of time to spend reading, exercising, educating yourself, investing, doing a business or anything else great that can help you create the life you want to live in.  Be bold and brave.

 It takes courage to live the life you want, and anyone can do it with their effort to get rich quick and GREAT SUCCESS.

30 PRINCIPLES OF GET RICH QUICK​​ BY T. HARV EKER

This is the true story of author T. Harv Eker, who went from nothing to dollar millionaire in two and a half years.  And you can do this too by following the below 30 principles of Get rich quick​​. 

T. Harv Eker is one of the best known business and personal success trainers in North America.  He owned 17 companies when he was 30 years old.  Starting with about US $ 2,000 in hand, he opened a sporting goods retailer in North America.  In just two and a half years, he expanded his store to 10 locations and sold half of the company to H. J. Heinz Corporation for $ 1.6 million.  This book introduces Eker\'s experiences and tips for those who love to get rich, and especially get rich quick.  Eker\'s experiences seem very simple and easy to understand, but without these guidelines, not all entrepreneurs can find the direction, get rich quick model, and true get rich quick model like Eker. People have a strong new rich in the country.  We hope that this book helps many entrepreneurs and future entrepreneurs.

 T. Harv Eker is one of the best known business and personal success trainers in North America.  He owned 17 companies when he was 30 years old.  Starting with about US $ 2,000 in hand, he opened a sporting goods retailer in North America.  In just two and a half years, he expanded his store to 10 locations and sold half of the company to H. J. Heinz Corporation for $ 1.6 million.  This book introduces Eker\'s experiences and tips for those who love to get rich, and especially get rich quick.  Eker\'s experiences seem very simple and easy to understand, but without these guidelines, not all entrepreneurs can find the direction, get rich quick model, and true get rich quick like Eker.  

 Do you want to make a lot of money?  Do you want to get rich quick?  If you answered "Yes" then you have found the right book to read!  I want to introduce you to a new, dynamic business system that allows you to get rich quick faster than ever before.  My name is T. Harv Eker.  I am the author of many famous books, documents, curriculum ... about how to get rich quick, successful business ... I recommend this book "Get rich quick" as a gift because it has helped many people to change their lives.  "Get rich quick" is a step-by-step system that generates millions of dollars in three years or less.  If you are preparing to explore a complex formula you will be surprised to find the "get rich quick" method very simple, but it has actually made many people rich.  The "get rich quick" system is for those who are already in business or want to jump into business.  As the common argument goes, "go to school, do well, then find a good job, work hard and everything will be all right."  It doesn\'t take a really smart person to see this argument completely wrong if you want to get rich, especially get rich quick.  To get rich quick, you have to really jump into the business of something.

To get rich quick, you have to really jump into the business of something. 

1. Get rich quick: PRINCIPLE 1

DO NOT LISTEN TO COMMON THOUGHTS (CONVENTIONAL WISDOM DOESN’T WORK… AND NEVER DID!)

 Do you want to make a lot of money?

 Do you want to get rich quick?

 If you answered "Yes" then you have found the right book to read!  I want to introduce you to a new, dynamic business system that allows you to get rich quick faster than ever before.

 My name is T. Harv Eker.  I am the author of many famous books, documents, curriculum ... about getting rich, successful, business ... I recommend this book "Get rich quick" as a gift.  because it has helped many people to change their lives.

 "Get rich quick" is a step-by-step system that generates millions of dollars in three years or less.  If you are preparing to explore a complex formula you will be surprised to find the "get rich quick" method very simple, but it has actually made many people rich.

 The "get rich quick" system is for those who are already in business or want to jump into business.  As the common argument goes, "go to school, do well, then find a good job, work hard and everything will be all right."  It doesn\'t take a really smart person to see this argument completely wrong if you want to get rich, especially get rich quick.  To get rich quick, you have to really jump into the business of something.

2. Get rich quick: PRINCIPLE 2

 (YOU HAVE TO POSITION YOURSELF FOR WEALTH)

 If you dream of earning millions of dollars by working as a hired laborer, then you are indeed "dreaming in the daytime".

If you are like everyone else, investing in stocks, or saving money in the bank ... is fine, but that is not enough for you to get rich quick.  Investing in real estate is also not as potential as before.

 The ultimate solution is to own your own business so you can create wealth and get rich quick.  That\'s how I did it and that\'s how you\'ll get rich quick.

 Like many others, I have also tried many ways to get rich.  In fact, I owned 17 different companies when I was 30 years old.  My first business was not good and I lost a lot of money, however, one thing I have always believed, is ...

3. Get rich quick: PRINCIPLE 3

(SUCCESS IS A LEARNABLE SKILL)

 So I started to love information.  I read every book, attended every success seminar ... And things started to change, and I got better at making money.  Unfortunately, however, I\'m better at spending money than making money.

  I have a choice: make more money or spend less.  And I chose to make more money.  To do this, I know I have to do something different from what I and others have been doing.

 There\'s someone I know as a millionaire who always tells me, "If someone is doing better than you, that means that person knows something you don\'t know."  So I decided to learn more and spent six months analyzing the enrichment strategies and tactics of the world\'s greatest entrepreneurs - the very rich and rich quickly.  As a result, I have drawn out the basics that I will cover in this book "Get rich quick".  Then I borrowed $ 2,000 in advance from a credit card and applied the "get rich quick" system to open a sports equipment retail store called Fitnessland.  It was one of the first sporting goods retail in North America.  The "get rich quick" strategy allowed me to open 10 stores in two and a half years and then sell half of my shares to H. J. Heinz Corporation for $ 1.6 million.

4. Get rich quick: PRINCIPLE 4

(CHANGE BRINGS OPPORTUNITY! QUICK CHANGE BRINGS QUICK OPPORTUNITY!)

 Do you agree that belief determines action?  To have a "get rich quick" attitude you must believe in two things:

1. Get rich quick is possible.

2. Get rich quick is workable for you.

 Society may assume that most people get rich quick through nefarious means, but many people, including me, get rich quick and honestly, especially in this day and age.

 This world is changing every minute, technology changes every minute, the market is changing every minute and human tastes change every minute.  Each change brings one or more opportunities, and the faster the change brings urgent opportunities (ie it doesn\'t take us much time to grasp).

 Every time there is a change in technology, law, taste, market…, someone gets rich on the opportunity that this change brings.

 Today, this change happens every minute and every day around the world someone becomes a millionaire by taking advantage of and exploiting the opportunities created by these changes.  You can also take advantage of these opportunities!

 For example, the life cycle of a product is about 20 years ago, from the beginning to appear on the market until it disappears from the market.  But today the product life cycle has been greatly shortened, remaining about 5 years or even shorter.  Specifically, computer software rarely exists for a long time if it is not upgraded or replaced with a new software.

 Everything has changed a lot since ancient times.  "Get rich quick" is not only possible but also practical.  That is the way of today\'s world of speed.  So is "get rich quick" possible for you?  If you wanted to be an expert at tennis, what would you do?  Surely you have to learn to play and practice a lot.  And after a period of investing "playing game" in learning and practice, one day you will be the winner.  That\'s it, success is a learnable skill.

5. Get rich quick:  PRINCIPLE 5

 (YOU CAN ALWAYS BE MORE, HAVE MORE AND DO MORE BECAUSE YOU CAN ALWAYS LEARN MORE)

 The point is, do you really want to learn?  If you master the principles of this "get rich quick" system and apply them, you will become rich very quickly.

 Another factor is your Personality.  In business, as in racing, there are sprint-style people and there are people with a long-running style.  What style do you belong to?  There are very creative people who specialize in generating ideas.  They like to create new concepts, start something up, develop them quickly and then move on to something else.  Others enjoy regular, repetitive work every day.  "Get rich quick" is more suitable for the first group of people - sprinting, creating, starting - growing quickly - moving on to something else.

 The final factor that determines the feasibility of "get rich quick" for you is your DEPARTMENT OF GETTING STRONG.  Why is the desire to get rich so important?  Because the path to get rich is not flat, challenging over a long period of time, requiring high dedication to the job, with working hours more than 8 hours per day.

6. Get rich quick:  PRINCIPLE 6

(IF YOU ARE GOING TO WORK HARD ANYWAY, YOU MAY AS WELL GET RICH… AND THE QUICKER THE BETTER)

7. Get rich quick:​​​​​​  PRINCIPLE 7

(MONEY IS A CONVENIENT SYMBOL THAT REPRESENTS AND MEASURES THE VALUE OF GOODS AND SERVICES EXCHANGED BETWEEN PEOPLE)

 Money is important in our lives, for sure.  But, not everyone knows what money is?

 Money is a tool that represents and measures the value of goods or services exchanged between buyers and sellers.

  The key problem in the above definition is in the word VALUES.  It is the value of what you sell that determines your income.  So you need to know the law of income ...

8. Get rich quick:​​​​​​  PRINCIPLE 8

(THE LAW OF INCOME: YOU WILL BE PAID IN DIRECT PROPORTION TO THE VALUE YOU DELIVER ACCORDING TO THE MARKETPLACE)

 I want to emphasize this: the reason most entrepreneurs go bankrupt is that they do not bring much VALUE to the eyes of their customers in the marketplace.  A lot of people have good ideas, invent good things, make good products, provide good services ... but they don\'t have great success simply because or the value they bring to customers is not considered valuable.  value, or because they have not brought enough value to customers.  Therefore, if you don\'t deliver a lot of value to your customers, you won\'t get paid a lot.

9. Get rich quick:​​​​​​ PRINCIPLE 9

(IF YOU DON’T DELIVER A LOT, YOU DON’T GET PAID A LOT.)

 There are 4 main factors that determine your income:
  Demand + Supply + Quality + Quantity = $$$

 1. Demand: How does the market need your product / service?  In order to "get rich quick" you need to provide a "hot" product / service in the market, which means a high demand for this item / service.

 2. Supply: how many people provide this product / service on the market?  The level of competition among suppliers?  The market is saturated yet?  Obviously when supply is less, value will increase.  To increase the value of the product / service you offer, you must sell something that few others sell, or you must make your product / service different from similar products / services sold by someone else.

 3. Quality: Is your product / service good?  And more importantly, how good are you at your business?
 
  The higher the quality, the higher the price and the higher the value.  My business motto is "do well or do nothing".  Going back to the question "how good are you in your business?", The rule is simple ...

 4. Quantity: ie how many products / services you sell.

 Of the four factors above, most entrepreneurs have difficulty with this fourth factor.  You can have great products / services and you can sell them in the market, however, the amount sold is not enough for you to get rich, especially get rich quick.  Hence ...

10. Get rich quick:​​​​​​ PRINCIPLE 10

(IF YOU WANT TO GET PAID, YOU MUST DELIVER YOUR VALUE TO PEOPLE. IF YOU WANT TO GET RICH, YOU MUST DELIVER YOUR VALUE TO A LOT OF PEOPLE)

 No matter what business you do, a large portion of your income comes from selling your goods or services.  If you have an unlimited amount of products to sell, then your income will be unlimited.

 If you provide a service and you need direct people to perform the service, for example beauty care, then your monthly income from this service will be limited, for example, every day you have  can take care of beauty for 10 people, 300 people per month, €300/ person, so your maximum income per month is €90,000. So how is your income not limited like that?
  One way for you to break this limit is to: sell a bundled product.  For example, say you sell lotion products to customers who come to buy your beauty services.  The more products you sell, the more income you can earn.  Or you will hire someone else to work for you, so each month you can not only provide services for 300 people, but you can provide 3000 people or more.
  These are simple ways to increase your income by selling more products / services to the market.
  However, there is another very important factor ...

11. Get rich quick:​​​​​​ PRINCIPLE 11

(TIMING IS EVERYTHING)

 Have you ever heard this phrase "timing is everything"?  So what is timing?  It is simply the suitability of your product / service to the needs of the current market - choosing the right product or service, at the right time, in the right market.

 This is very important.  If you can do this, you have 50% success at hand.

12. Get rich quick:​​​​​​ PRINCIPLE 12

(CHOOSING THE RIGHT VEHICLE AT THE RIGHT TIME IS A RARE AND HIGHLY PROFITABLE SKILL THAT CAN BE LEARN)

 Unfortunately, however, most people "jump" on an opportunity, a trend when it is too late, and so someone has already got rich from this opportunity.
 
  Conversely, "jumping" into the opportunity too early is no better.  If I opened the Fitnessland store three years earlier then I wouldn\'t have had any success, simply because the market was not ready for this product at that time.
  Therefore, you must know the market evaluation, know when is the right time to start.

13. Get rich quick:​​​​​​ PRINCIPLE 13

(YOU HAVE TO LEARN HOW TO GAUGE AND TIME THE MARKET. YOU HAVE TO KNOW WHEN TO GET IN, AND WHEN TO GET OUT)

 In the "get rich quick" system, you must be prepared to jump into the market when Demand is high and Supply is low.  Now the business opportunity is great, it\'s time to jump in.  Then, Supply slowly increases, overcomes Demand, and the opportunity is no longer good, it\'s time for you to jump out of the market.

 For example, 22-year-old Marc Andreessen, who developed the web browser program Navigator for two years, has an income from zero to $ 50 million thanks to Navigator.  An easy and quick way to get rich is…

14. Get rich quick:​​​​​​ PRINCIPLE 14

(COPY SOMEONE WHO IS MAKING A MINT RIGHT NOW)

 You\'ll find the principle of "time delay" interesting, which is the time it takes for a new idea to spread from one geographical range to another.  For example, the "time delay" of the Internet boom in Vietnam compared to the US is about 6-7 years.  Currently there are many entrepreneurs who are getting rich with many business ideas in countries, especially the US, and especially making money through the Internet.  You can imitate the model and apply it to your business.  Entirely possible!

 For example, the website www.alibaba.com is the world famous B2B (business-to-business) exchange website and main focus on the Chinese market.  You could also build a similar model for Vietnam.  But perhaps success will come to you more easily if you collaborate with this giant Alibaba instead of competing with Alibaba.
 
 The principle that big businesses in the world apply is "if we cannot beat the competition, then cooperate / merge with them".

15. Get rich quick:​​​​​​ PRINCIPLE 15

(IT WITH OFTEN FASTER AND EASIER TO AFFILIATE WITH A COMPANY THAT IS UP AND RUNNING THAN TO START FROM SCRATCH)

 Why is that?  Because these companies already have technology, products, markets, brands ...

 For example, in European market recently appeared slimming equipment, home appliances ... high technology imported from abroad ... It is also a form of collaboration to distribute an existing product of an existing company.

 As a "get rich quick" entrepreneur, you must take advantage of the GLOBAL MARKET opportunity.  A lot of items are available for sale in the US but not in Europe and vice versa.  This is your chance to get rich quick.  To be able to sell these items you have to learn how to market them effectively.

 Remember that timing is everything.  If you choose the right product at the right time, your “get rich quick” path will definitely be easier and faster.

16. Get rich quick:​​​​​​ PRINCIPLE 16

(A BUSINESS SYSTEM IS A REPEATABLE PROCESS THAT PRODUCES A PROFIT)

 What if you build a house for a week?  Surely this house will quickly crack, settle ... The more important, when you want to build a large house, many floors ... the more solid foundation must be built.

 In business, the same concept is building systems.  The idea of ​​building operating systems in the business to help you sell products / services in large quantities effectively.  If the business is good and expanded and the business activities have not been systematically built, the entire business will become chaotic and you will lose control, leading to inefficiency.  There have been many real cases of companies failing to expand just because things became beyond the control of the leader.

 So how should we build an effective business system?  Rule number one is: "make things simple".  My point is: business is simple, people are complex.

 Every business consists of three parts: marketing, manufacturing, and administration.  You must design specific procedures for each of these parts so that they can run smoothly, and almost automatically.  The idea is to create a business that functions like a fully oiled machine - a money generator.
  Your system must be well organized, have to be profitable, and must support rapid development.  And the most important thing about "Get rich quick" is that this system must be an iterative process and can work well WITHOUT YOU.  Why don\'t you need a friend?  Because in order to break the income limit, you cannot be a direct employee, you must be ...

17. Get rich quick:​​​​​​ PRINCIPLE 17

(A “SPEEDWEALTH” ENTREPRENEUR IS A CO-ORDINATOR. HE OR SHE IS THE CONDUCTOR OF THE ORCHESTRA)

 Even if you are an expert in the field you are in business, you should not do the professional work directly, because that way you will not have the time and mind to lead the entire company.  your.  Leading this company isn\'t easy, but it\'s something you have to do directly if you want to get rich quick.

 Remember that big companies have a Chairman or CEO whose main responsibility is to orient the company, coordinate all departments, create growth opportunities for the company, find ways to increase profits ... people  This is very well paid and never do the professional, technical ... So, as a business owner, you must ...

18. Get rich quick:​​​​​​ PRINCIPLE 18

(WORK ON THE BUSINESS, INSTEAD OF IN THE BUSINESS)
 
  One of the key elements of the "get rich quick" system is that your business cannot depend on ONE PERSON, especially you.

 During my first six months at Fitnessland, I rarely stepped out of the store because I had to prepare and build a system to operate the store.  After that, I rarely stepped foot in the store because I trained the staff to manage the day-to-day operations of the store, while I had to focus on store development.

 Remember, the system gives you freedom.  First of all, it is time freedom.  With a system, you can rest, have fun, spend time with family, friends ... while your business is running well, growing, and profitable.  Let the system do the work for you.  Second, freedom in terms of money.  With a good system, you have two possibilities:
  One is to keep the system running under your ownership, and so you have a passive income stream while you don\'t need to work.
  - Second, you sell your system to someone else and get a huge sum of money and become a millionaire.
  Either way, since you are the creator of the system, you win and become rich.  And you go on creating another system ...

19. Get rich quick:​​​​​​ PRINCIPLE 19

(ONCE YOU HAVE SOMETHING THAT WORKS, YOU CONCENTRATE ON DUPLICATING IT)

 Once you have a good model, focus on duplicating it.  This is why it is so important to build an organized system to support the sale of goods or services in bulk without your participation.  Because this system allows you to clone it.

 The entrepreneur "get rich quick" must understand that if you make money in one locality, you can also make money with this model in another locality.  The question is how many localities.  So, the key issue is "how do my products / services reach the largest number of customers?"

 Do you know Wal-Mart?  Wal-Mart is Sam Walton\'s idea.  Sam Walton started out with a small store in a small town that made little money.  Sam then systematized the store\'s operations so it could work without him.  Gradually, he duplicated it into 1500 stores in hundreds of cities and towns in the US, and later in other countries.

Sam Walton is truly the "get rich quick" business model.  He died a few years ago and is one of the richest people in the world with a personal fortune of more than $ 7 billion.  Billions, not millions more.

 Everyone knows McDonald\'s.  In the 50s of the last century, Ray Kroc discovered a new concept: fast food, burgers, french fries ... Then Ray systematized the marketing, production and operation for the food store.  This fast operation is efficient and profitable.  And when the system was in place, Ray cloned it and allowed others to use his system.  This method is the method of franchising.  Today there are thousands of McDonald\'s stores around the world, selling fast food to millions of people every day.  Ray Kroc is another "get rich quick" entrepreneur who has also used cloning work.  When he died, his fortune was more than $ 4 billion, again in billions, not millions.

 Remember, the idea of ​​cloning is about delivering the value you deliver to more customers and faster.  However, not everyone can open many stores in many places, simply because there is not enough finance, not good at marketing ... In this case, "get rich quick" also has a solution for you ...

20. Get rich quick:​​​​​ PRINCIPLE 20

(WHO COULD BUY OR SELL A HUGE QUANTITY OF MY PRODUCT OR SERVICE AT ONCE OR ON AN ON-GOING BASIS?)

 I remember when I was in the "get rich quick" training class, when I talked to this part, one of my students thoroughly applied and successfully applied it.

 He has created a home painting video and is trying to sell it in retail stores.

 When the session was in break he walked out and made a phone call, then he went back to class with a bright face and a cheerful smile on his face.  He just called the world\'s largest paint company and sold his videos to them.  They will use his video tapes as a gift to customers who buy paint of 5 liters or more.  The producer bought 100,000 copies of the video for the first time, and the profit for this practitioner was about $ 1 / roll of the video.  Thus, this "sale" of sales brought him $ 100,000.  However, the story doesn\'t stop at $ 100,000 ...

21. Get rich quick:​​​​​ PRINCIPLE 21

(WORK SMARTER INSTEAD OF HARDER)

 An important principle is cooperation, which means that you will do more with less effort, with less time.  And what you do is not as important as HOW you do it.  Working strategically and wisely will help you work smarter, instead of harder.  My motto is: if you don\'t cooperate, you\'re overworked and making too little money.  Collaboration starts with you not doing things that other people or the system can do yourself.  You must ask yourself this question:
  
WORK BETTER FOR MORE FOR CARE 

22. Get rich quick:​​​​​​ PRINCIPLE 22

(HOW CAN I PROVIDE PEOPLE WITH MY PRODUCTS OR SERVICES WHILE I SLEEP?)

 Let\'s go back to the story of my video tape practitioner.  He sold 100,000 tapes and made a profit of $ 100,000.  But the story doesn\'t stop there.
  The next day, when he is learning until the “licensing” section, he goes out and calls again during a break.  After that, he turned around with a brighter smile than before.  He has just completed a contract change agreement with the paint manufacturer.  Instead of providing the video tape to the producer, he gave the producer the right to duplicate the video, and the producer agreed to buy 250,000 copies.  Why does the manufacturer agree with this plan?  Because they are more flexible in choosing the supplier of their tapes, allowing them to decide on tape quality and reduce costs.

 Next, this wise guy also thinks about ways to make more money from his video tapes: he works on the second tape on how to paint furniture, outdoor furniture ...

23.  Get rich quick:​​​​PRINCIPLE 23

(IN BUSINESS, THE HEADACHES ARE IN THE FRONT END, BUT THE MONEY IS IN THE BACK END)

 Business activities are divided into two parts "Front-End" and "Back-End".

 "Front-End" can be understood as "The Front", including related departments such as marketing, sales, customer support ... This division must include people who are well trained, like to communicate,  understand customers, imbue the thought "customer is god".  Why does "Front-End" have a headache?

 Because there is no formula available in marketing, in communicating with customers, because there is competition, and not everyone is comfortable ...

 "Back-End" can be understood as "Behind the scenes" including the parts that do not directly deal with customers, such as Manufacturing, Administration, Human Resources, Finance ... However, in "Get rich quickly"  , "Back-End" point of view just has to make use of the existing list of customers to provide them with additional products / services, to increase sales.

 Too much work to do, right?  Can you do it all by yourself?  If you say "give me time, I will gradually do it all", you forget the speed factor in "get rich quick": if you miss the moment, you will lose the opportunity to make money.  So:

In business, the "headache" is in the "Front-End" but  but money is in the "Back-End" 

24. Get rich quick:​​​​​​ PRINCIPLE 24

(IF YOU’RE NOT USING LEVERAGE, YOU’RE WORKING TOO HARD AND EARNING TOO LITLE)

 Cooperation is a big deal.  I\'ll give you a few examples of the benefits of cooperation:
  - leverage - can be understood as cooperation to help you start a business with little or even no money.
  - Cooperate in utilizing the talents, skills, relationships, and resources of others.
  - Collaboration allows to take advantage of the latest technology to increase efficiency and speed of business.
  - Cooperate by hiring employees, training them well so they work, make money for you.
 
   Cooperation is very important, because no one can do everything by himself with the required efficiency and speed.

25. Get rich quick:​​​​​​ PRINCIPLE 25

(THE SPEEDWEALTH ENTREPRENEUR STARTS WITH THE END IN MIND)

 The difference between the "get rich quick" entrepreneur and other entrepreneurs is that "get rich quick" entrepreneurs start with a vision of the end.

 By adopting the “get rich quick” system, within 3 or 5 years, you will have four options:

1.You can keep running, owning a business and making a lot of money every day.

or

2. You can continue to own the business, but no longer work directly, to have time freedom and still have a steady stream of passive income.

or

3. You can sell part of the business and instantly become a millionaire.

or

4. You can apply the combination of 3 ways above.  Let me tell you this one "secret":

26. Get rich quick:​​​​​​ PRINCIPLE 26

(YOU WILL NEVER MAKE AS MUCH MONEY RUNNING A BUSINESS AS SELLING A BUSINESS)

 When you have started a business for a few years, you have built a good system, effective, and it is really profitable for you, then there will be many "giants" who want to buy your business.  you, buy a part or buy all.  Then I advise you to sell it.  Why?

 - Because every business should have a strong capital to make it easier to operate, expand, and develop.  If you sell a portion, your business has more capital.  If you sell it all, you invest money to invest in your other business.

 - Because of the presence of "giants" (in case you sell a part of your business), your business will benefit from this cooperation, there will be more opportunities to acquire new technology.  new management legislation… And you are still the owner, or the Chairman of the Company - a company with more potential after adding new owners.

 - When your business is listed on the stock exchange, the value of your company can increase many times, based on public opinion, investors about the company\'s potential, and you will  have a chance to get rich quick, richer many times before selling a part of the company.

27. Get rich quick:​​​​​​ PRINCIPLE 27

 (DEAL WITH LARGE, SUCCESSFUL CORPORATIONS WHERE A MILLION OR TWO IS A DROP IN THE BUCKET)
 
  Who would agree to pay you millions of dollars for the acquisition of part or all of your company?  That is the "giants" in the relevant industry or the "giants" specializing in investing in the companies that are doing well.  With these giants, they have departments specializing in researching the partial or complete acquisition of other companies.

 Believe it or not, the $ 1.6 million price Heinz Group paid my Fitnessland was one of the lowest they\'d ever bought.  It was this sale of Fitnessland after starting TWO-YEAR operations that made me a millionaire.

 And you can also learn from me and make this happen for you!

28. Get rich quick:​​​​​ PRINCIPLE 28

 (WEALTH IS NOT JUST MONEY)

 Before an important event in my life - when I was once diagnosed with a terminal illness - I was engrossed in making money, spending most of my time on making money.  When this event happened, the doctor did a lot of tests, surgery ... and I was really devastated.  I don\'t want to end my life like that, I want to live many more years.

  During the time in the hospital, I found myself wanting to live like.  I\'ve just seen how much I need and love my family.  I pray a lot, wish I could live more, and if I could, I would live more for my family, for the community more.

 Fortunately, the test results finally showed that my illness was not incurable, and I was cured.  Since then, I am very grateful for this event that changed my perception of being rich, making money ... There are many things in life that are much more important than money.

29. Get rich quick:​​​​​ PRINCIPLE 29

(PRACTICE WHATEVER YOU WANT TO BE IN THE FUTURE, NOW)

 Life is so short, so do what you want right now!  Strive now to get what you want in the future.

 Don\'t hesitate, don\'t procrastinate, don\'t wait until tomorrow.
 
  You should practice, practice, to build your own habits, the habits of the person "get rich quick".

 The key is that you have to love this practice, you have to adopt the "get rich quick" system with passion, with enthusiasm filling your heart.

 Final…

30. Get rich quick:​​​​​ PRINCIPLE 30

(LEARN, LEARN, LEARN)

 The last thing I want to remind you of is: learn, learn, learn.

 I also had to study a lot, and study continuously until now, to be able to succeed in my business and training career.  However, studying here does not require you to graduate from University, Master\'s degree, PhD ... but study your way, according to your conditions, as long as you really gain knowledge.  Investing in your studies is the wisest investment you and I can make.

 There are three types of knowledge you need to master if you want to be successful in business:

1. General business knowledge: including marketing, negotiation, finance ...

2. Professional knowledge in business: includes the secrets of your business.  And most importantly:

3. Personal development knowledge: This knowledge, skills will help you learn the best, make the best of your skills, and best overcome your skills.

 

 
 

 

 
 

TOP 10 FASTEST WAYS TO GET RICH QUICK YOU NEED TO KNOW

Get rich quick is something everyone wants to pursue, but not everyone knows how to get rich, especially get rich quick is what not many people know.  Getting rich is not easy, but the 10 fastest ways to get rich quick can help you get rich easily.

1. Get rich quick by bringing money to invest

Money left in place may lose value, but if you invest it in it, you can pay twice as much.  This is the fastest way to get rich quick of many successful millionaires in the world.  And this way you will quickly get a huge fortune.

2. Get rich quick by studying at prestigious schools to get a good degree

Professionals can also become rich.  But studying is a time-consuming, year-long job, so be patient.

 Alternatively, you can choose to drop out of school to start a website or a computer company and get rich quick on your own.

3. Get rich quick by buying stock in a thriving company

Get rich quick by buying stock in a thriving company / ph: pexels

This is also a fairly popular method to get rich quick that is applied by many people.  If you are inexperienced in this area then you should consult with the experts.

4. Get rich quick by playing the lottery

There have been many people who had get rich quick this way.

5. Get rich quick by doing your best in your current job

If you do not have a job, you should find a job.  Maybe your starting salary is not high, but if you are patient, work hard and study, you may be considered for a leadership position, or even get rich quick if you are lucky.  This is slower but more reliable than buying the lottery.

6. Get rich quick by investing in real estate

 

Get rich quick by investing in real estate / ph: pexels

Buy cheap houses, invest, repair, upgrade, then sell them for twice as much.  Continue to use that money to buy houses and resell like that.  This way you can start a business without using your own money, and you will end up get rich quick.

7. Get rich quick by doing adventurous and creative things

If you keep reading to this line, it means you want to find a safe way to get rich quick.

 But if you get rich but easy, anyone can do it.  So, if you want to get rich quick, act more adventurously and creatively.  Talk about businesses with those who went ahead, try to learn how they do.

8. Get rich quick by spending savings

 Never spend money on things you don\'t really need.  Although this way to get rich quick takes time, it will be safe and secure.  Please have a suitable savings plan for you.

9. Get rich quick by learning from the experiences of those who went before

Talk to rich people and ask for advice on how to get rich quick.  Try to learn from them, as well as read more books about how to make money.

10. Get rich quick by creating and claim copyright on your work

Look around the house, think about everyday activities, try to find out if there is a way to make chores simpler.

 If you have an idea, immediately make a prototype and ask for a patent.  If a producer is interested in your idea, ask them to pay you a sum for every product they make.  If your product becomes famous then you will be get rich quick without any fear.

 And there are many other ways to get rich quick from your own!

 However

 + The real answer to the question "How to get rich quick?"  is "there is no way".
 + Never get rich dishonestly.  Money never comes out of nowhere, unless you inherit a fortune.  If you really do have that luck then consider using it wisely, otherwise you will empty your pocket again.

 The fastest way get rich quick is to write down a plan.  A lot of people wished they could get richer, but they stopped there.

 Just by writing down your goals and making a plan on paper, you are making your dreams more concrete.

 If you don\'t have written goals, you need to get started now, especially for personal wealth goals.  It has been proven over and over that people who can clearly write their goals down are more likely to achieve more than those who plan and set goals in mind.

 To build your "get rich quick" plan, you need to start from where you are.  To determine where you are you have to know what you are worth.  This value is calculated by the amount of assets you own less your debt.

 Next, you must determine what your goals are.  If your goal is to pay off your debt, then set a timeline with specific steps you will need to take to get out of debt.  Some people follow up on all debts and the interest rate for each debt on a board.

 Looking at these written numbers on a daily basis will help you stay on top of your plan.  And now, after you get out of debt, you start trying to boost your income.

 Your written goal is to become financially independent by increasing your income by means of your workplace salary.  By knowing this get rich quick goal, you know how much you need to make each day from your salary, and in this way you have complete control over the situation.

 For example, if you make Eur 50,000,000 a year, that means you only need to make Eur 137,000 per day.  When you concretize your big get rich quick plan like that, everything seems manageable.

 Start now to define your get rich quick plan.  You deserve the best that life has to offer.  Remember that living doesn\'t mean less experience.

5 WAYS TO GET RICH QUICK

It is not difficult to get rich quick if you try one of the following strategies:

Get rich quick by working / ph: pexels

1- Get rich quick by Inherit

Most of the richest people in the world are born into a happy family with golden spoons in their mouths, for their grandparents, their parents are oil moguls, banks, land,  newspapers.  Indeed, the fastest way to get rich quick is to have a crumbling rich relative provided you are the sole heir at the time of his death.  Check the family tree in your family to see how, you know.

2- Get rich quick by Winning the lottery

 You are at greater risk of being struck by lightning than your chances of winning a lottery game.  However, that does not affect you to try your luck.

3- Get rich quick by Gamble

 Consider Ungar (1953-1998), a 14-year-old professional gambler.  His victories were numerous, including winning $ 100,000 in a gambling game in 1977 and winning the World Poker Championship in 1980 and 1981. He even won $ 5 million in a single game.  silver with pornographic king Larry Flynt.  But like most gamblers, much of this American gambling legend life is always in turmoil.  Eventually he was found dead in a cheap Las Vegas hotel.

4- Get rich quick by working 

You want something serious - work.  But the wealthy build their own businesses, and when they start to compete in decent profits, they sell off their shares and make millions of dollars.  Another way is to create something useful, like David Filo and Jerry Yang, the creators of the Yahoo!  on the Intenet.  Now the assets of the two middle school dropout students at Stanford University are 3.1 and 2.6 billion dollars, respectively.

5- Get rich quick by Investing

 Finally, you can raise your money and invest in something.  Invest in real estate or the stock market.  The price of your stock can skyrocket in just a short time.  Just make sure you have the money to invest and that you are a keen person able to buy the right stock at the right time.  But we\'ll have to go back to the first question: Where do you get the money.

[RETIREMENT PLANNING] 5 KEY PRINCIPLES OF FINANCIAL MANAGEMENT FOR EARLY RETIREMENT

Early retirement at the age of 35 with a huge money amount in the bank account? Here are 5 key principles of financial management for early retirement but many people do not take it into account. 

It is not the lottery winning, this is the way for you to retire early with a huge money amount in the bank account.

Right from the age of 35, no longer struggling with 8-hour working at the office, free to do everything you like - from traveling to writing books, playing music, gym - but the money is automatically poured into your account every month.

That is the ideal early retirement prospect, a beautiful dream of many young people who are working today.  But is the dream forever just a dream?  Is there a way to turn it into reality, other than winning the lottery?

 The answer is yes.  And here\'s how:

How can we have early retirement at the age of 35? / ph: pexels@Karolina Grabowska

1- Have a big enough savings

 Robert Kiyosaki said in Rich Father Poor Dad that the key to getting rich is not how much money you make, but how much money you can keep.

This is especially true for those who want to retire early.  Because you want to retire at the age of 35, you definitely need a big enough savings account, at least a few billion - but this number is still a weak shield against the uncertainties of life.

Between now and the expected retirement age, save as much as you can through strict financial management and unnecessary spending cuts.

The more money you have, the more comfortable your life after retirement will be.

2- Get used to a simple lifestyle

Along with saving money, we also need to learn to live happily with enough resources, no more, no less.  Should learn the Lagom thought of the Swedish people: "Knowing enough is happiness".

 Ask yourself:

Do we really need a diamond watch, as today\'s cell phones also have a time function?

Do we need to go to the luxury gym, when exercising at home or in the park still helps to keep the body toned and healthy?

Minimalism is a suitable option for those who want to stop working at the age of 35 to rest and do what they like.

3- Join health insurance

Health insurance is a financial cushion when you or a loved one falls into an unexpected illness, illness or accident.  Participation is completely voluntary, with a variety of programs.

People who choose to retire early should not ignore health insurance, because only their savings, even up to a few billion, are easily lost very quickly if they unfortunately have health problems.

4- Invest

The most common way for not working and still have money is to invest.

Investing is making money itself, regardless of the time you spend working (it depends on how you think about where to put the money).

If you do not have the money to invest or do not know anything about it, now is not too late to start.

5- Create passive income streams

For example, if you are a musician, the royalties you receive when someone records or performs a song you compose can be considered a passive income source.

Or the interest you get from the bank when you save is another source of passive income.

Passive income is the income you receive without using your own labor.  The more passive income sources you have, the stronger your financial potential will be.  Early retirement will be possible.

USE THE LAW OF ATTRACTION FOR MONEY

Reality and everything around us is what we have created within our own mind. Our minds are essentially in control of all that we see happening outside of us. As a result, we are completely capable of choosing which direction our life takes. This is regardless of whatever our external circumstances may be.
 

Use The Law Of Attraction For Money / ph: pexels 

To begin understanding the Law of Attraction and our involvement in it, think of everything around us as being possible movements of consciousness that we are continually filling with our thoughts and emotions, bringing them into manifestation around us. It is important that we come to recognize that the world is not independent of our thoughts and experiences. Instead, it is subject to our minds which are creating what we see around us every second of every day. So, now that you have been made aware of the basics of what some people perceive as ‘the secret to life’, what should be your first course of action? Feel good! Feel good and fill your environment with positive emotion and in turn, the world that you create around you could become equally as good. the quest for financial abundance is one of the most common reasons why people are drawn to the Law of Attraction. However, it’s also one of the most frustrating goals; many people struggle to manifest the wealth they’ve always wanted. you are responsible for how much income you welcome into your life. Feel excited about the money. Feel thankful for what money you already have. Those that take action and have a plan usually succeed. It is as simple as that. Make a plan that is based on something realistic and achievable and then takes massive action. Let your entire mind become consumed with thoughts of abundance. Money is Energy. everything in our lives is made up of energy. Our thoughts, our words, our emotions. So, it goes without saying that our money, too, is made up of energy. This energy, like everything else, is impacted by the thoughts, words, and emotions we fuel it with.

THE EVOLUTION OF MONEY

Cryptocurrency is becoming so popular these days. Are you curious about its history and the money evolution in general? This article will tell you about it.

For those who are interested in the financial market, money evolution then this is an exciting topic. As a matter of fact, money is an important factor of the economy and it has been transformed from one type to the other from time to time. 

1. The evolution of money

Long time ago, before the Silk Road became the most popular trading route, all the transactions happened through barter. People exchanged different goods with the same value to each other. Then they found another form of trade to exchange their goods and services which we call money these days. The first type of money was coins, made of gold, silver and other metals. Coins is still a common currency in many countries. Then it came to the point when people realized that carrying a lot of coins is not very convenient. That’s when paper money was made to make money accessible and easier to use.  In modern days, with the development of technology, using paper bills seems to be slow and ineffective, especially with big transactions. Therefore, people invented a new method, that is using credit and debit cards. This used to be applied by big companies to pay salary for their employees. Nowadays, you can use them for any personal transactions, like paying for buying groceries or eating at a restaurant. Additionally, with a credit card, you can buy anything online all around the world. However, it leaves your personal information on the internet platforms and someone might take advantage of it. That’s why a more secure currency was born, we call it cryptocurrency.  

Cryptocurrency is the newest type of currency

2. Using money wisely with cryptocurrency

The founder of cryptocurrency is still mysterious. But other than that, using it is simple, just like any other kinds of currency. With many types of cryptocurrencies in the market such as Bitcoin, Ethereum,... you can invest and spend wisely, even exchange one to the other. If you want to explore the cryptocurrency world, make sure you find a trustworthy website, check out the exchange rate and then decide how much you spend. Make your money work for you, it will then make your life much easier. However, you need to be careful with your money and using money wisely.

3 TIPS FOR ACHIEVING FINANCIAL INDEPENDENCE

Achieving financial independence means you are able to withstand the inevitable financial storms along the way. Learn more about guide to financial independence in this article.

 Try to save as early as you can/ Ph: Pexels

Financial independence is a dream and the biggest goal of many people. The benefits of financial independence are having sufficient financial resources so that you can comfortably choose whether to work or not. Also, you can choose a highly desirable job instead of the one that can support your standard of living. But what is the best way to achieve financial independence? Follow these tips below:

1- Create your financial independence plan

This plan includes your goals, defining how your financial freedom will look like. They should be written out with timetables. You can ask yourself questions like how to become financially independent in 5 years or how much money for financial independence? Once you answer those questions, you know what you should do to reach your goals. Then, when you have a detailed plan, stick to it. Until you see the progress (can be slow), you will realize that your financial independence strategies motivate you a lot.

2- Consistently spend less than you earn

You can not become financially independent if you spend more than you earn, or you spend as much as you earn. The key to financial freedom is savings. But how to save for financial independence? Firstly, save at least 10 percent of your monthly income. Next, remain consistent savings every month, even just a small amount. Also, try to start saving when you are still young, you will be amazed with the power of compounding in the near future.

3- Create financial independence investing strategies

No one will get their financial independence without investment, unless they win a lottery. Along with a savings account, you can invest in stocks, bonds, and other assets that involve an acceptable level of risk. It is best to invest for long-term goals, at least five years away. Then when you are closer to your goals, you can switch the invested funds into savings accounts which are low-risk.

Perhaps we don’t need reasons to pursue financial independence, because they are so obvious. Those tips, hopefully, will make it easier for you to achieve your goals.