It’s been almost 4 years since I am reading non-fiction books like money related, leadership related, investing related etc. The most common thing I have learned while reading these books is how you handle your money. It simply puts you where you want to be or if you want financial freedom. Money is just like a piece of paper but without it, you cannot live or cannot fulfill once basic needs. So, today with this blog, I am gonna tell you some important facts to remember while having money or earning money.

1. Less ego, more wealth – It has been said that the person who has more ego cannot make much money. As the word ‘ego’ tells itself that any person whose overconfidence is much higher in his/her field and he/she thinks about someone nothing else in front of them. But the more ego inside, you are going to earn less money.
2. Manage your money in a way that helps you sleep at night – Handling money is very difficult task but only poor and middle class people feel like this, it has no effect on rich people. But they know how to manage their money well. You need to learn some important skills which helps you making money while you sleep. For example, one can invest in a diversified portfolio of stocks, gold, bonds etc., develop a course based on individual skills and much more.
3. Use money to gain control over your time – Once you started making money, you should learn you control the time and not money controls you. Let me clear you with a simple example, I am doing a Job in XYZ company and at month end, I got salary. I spend my money to pay bills, partying outside with friends, buying fancy clothes etc. (Hence, no money). But on the other hand, after getting my salary, I spend that money into acquiring financial assets and learn how to make assets, I can gain control over my money, so it will multiply.
4. Respect the currency – Everyone should. Because there will be some days in your life you might would see obstacles related to money (Hope you should not, but future is uncertain). So, respect money, keep it as your own blood. Invest and Save wisely and don’t waste money because once you will lose it, it’s hard to get it back.
5. Reinvest the Money – Once you invested a portion of your income and if you think you have gained profit, reinvest that money into income producing assets that will help you taking to next step to become Rich. Reinvesting is a good habit just like savings. When you save, you have a particular amount in your hands but if you reinvest, you can multiply your money. It will help you to reach your desired goals.

So, with the above examples, you have multiple options to get your money in your hands rather than spending in a non meaningful items. Once you start doing this activity it will help you increase your own financial IQ. Just like I read this topic from Robert T. Kyosaki’s book (Increase your financial IQ). Hope this article will help you to understand money concept more deeply. ✌

At the end, here are some books URL you can check and read if you want to increase your money mindset –

https://amzn.to/3yMUfg7

https://amzn.to/3JQZMsj