Thrive Between Survive Now Till Wealthy

Most people have needs and wants.

If you’re able to plan for your “retirement” funding, you may ask “What about my current needs and wants?

• A place to stay and to feel secure
• Sufficient insurances (health, accident, etc) to cover myself and my family
• A regular paycheck to cover my fixed and discretionary expenditures
• Can afford to eat in a nice restaurant once in a while
• Can afford to travel overseas for a holiday for myself and my family/friends
• Owning a car perhaps…
• The list of items goes on.

Human nature  tends to dictate a person’s desire  towards “I want it Now!

Amost  all of the above, need more money to pay for it. 

Before I show you where to get the money, let talk about

What is Money?

Everyone uses money. We all want it, work for it and think about it. While the creation and growth of money seems somewhat intangible, money is the way we get the things we need and desire.

The task of defining what money is, where it comes from and what it’s worth belongs to those who dedicate themselves to the discipline of economics.

Here we look at the multifaceted characteristics of money to you and me.

• It is a medium of exchange.
• In older days, people would barter to obtain the goods and services they needed. Two individuals, each possessing some goods the other wanted, would enter into an agreement to trade.
• Nowadays, it is fiat money. Practically, every country around the world has its own issued currency. It does away with the need for a physical commodity (like gold) to back it. Instead, its value is set by supply and demand, and people’s faith in its worth.
• It is widely desirable and valuable because it is a means to get what you want. Almost all desirable stuff require money to leverage or exchange for it.

It is a money allergy, to most people!

• They hold negative response (physical or emotional) to financial abundance or prosperity, whether in the form of reduced debt, gifts from others, increased bank balances or cold hard cash in hand.
• They think that those who are rich are bad people. To be “good” people, they should not own lots and lots of them.

The symptoms of a money allergy can include tapped out credit lines, living paycheck to paycheck, perpetual disappointments in business, refusal to accept external support, and even resentment toward others who enjoy financial abundance without affliction.

Some subtle allergic responses that take a practiced eye to diagnose:

• If one continues to experience financial lack or shortage despite financial support from others, they may have a money allergy.
• If one’s expenses consistently rise in direct proportion to increased money flow, a money allergy may be in effect.
• If one practices creative avoidance by finding multiple irrational excuses not to receive money, that may be indicative of a money allergy.

Result: Scarcity of money (that are free from encumbrances) by most people

Money is a result, wealth is a result. We live in a world of cause and effect. Lack of money is the effect. The only way to change your “outer” world is to first change your “inner” world. 

– T. Harv Eker, Author of “Secrets of the Millionaire Mind”

  

THRIVE BETWEEN SURVIVE NOW TILL WEALTHY – Show Me The Money

Unless you are born into riches, inherit wealth, or strike it rich in the lottery, you need to earn money.

You don’t need to earn a lot of money to become wealthy; it’s what you do with that money you owned that matters.

Money saved is worth more than money earned!

You need to get your mind focused on generating multiple sources of income. Increase your income long enough and you will be able to save something substantial to do whatever you like. Be it,

• Build your retirement nest egg
• Buy a bigger home
• Go for overseas holidays more often
• Finance your children for overseas university education
• Live a financial free lifestyle
• And so on

It takes money, time, discipline, and a little luck to become a millionaire.

Here are five non-fiction tips you can use, namely,

1. Invest In Becoming Great In What You Do

Successful people invest time, energy, and money in improving themselves.

Commit to being great, not just average.

This means investing in yourself to become great at something that solve other peoples’ problem. The more people that need your service or product and willing to pay for it, the more money you will get. You could be an employee or a solo entrepreneur providing service or product to multiple clients.

Investing in yourself is the best investment you can make.

 

2. Earn More Than You Spend

You aim is to spend less than you earn. Another perhaps better way is to look at how to earn more than you spend.

You should focus on buying value on the things that you enjoy. You should focus on making big wins to reduce your expenses on non-essentials and things which don’t bring you joy.

If possible, look for a second income stream besides your day job. I don’t mean that you have to have an additional part-time job, but find a way to make a couple extra bucks on the weekends or a few nights during the week. This could be anything from freelance work on Upwork as a financial writer or doing affiliate marketing for other people e-products. Making an extra hundred bucks every month could have a huge impact on your millionaire journey. It may not seem like a lot, but it can really add up every year.

Above all else, living within your means is the key to financial success.

3. Find The Right Job

You need a job, no doubt, especially when you are a freshly minted graduate from the university/polytechnic.

Too many people just look for a job and stop there! You need more than that. You should look for a company where there is an opportunity (vehicle) for growth. All companies live from this thing called revenue. Get commissions rather than just a salary and you will finally be in control of how much you can earn.

4. Get Multiple, Connected Income Streams Flowing

You won’t get wealthy without multiple flows of income. That starts with the income you currently have. Increase that income and start adding multiple flows.

You want what are called symbiotic flows. Do not just add disconnected flows. Instead, find other ways you can add income to the job you already are doing. You are good at training others in your specialized trade/skill. You could also author a book to share your knowledge and insights in educating  others. You could  be a public speaker on your expertise too. The possible income streams that could be created are very much depending upon your imagination.

5. Always Think Of Profitable Ways To Invest Your Spare Cash

Your long term aim is to be a successful passive investor for life.

Before you start, you need to set up an emergency fund (about 6 to 9 months of your current monthly income). Paying down your debt, if any and build your investment war chest.

Your first target is to aim for your passive income to replace your monthly income from your regular job.

Aim to earn a secondary income of $10,000. You need to prove to yourself that you can go out and get money.

Once you can earn and save, then you can start building wealth through investing in financial instruments (like Stocks & Shares, Unit Trusts, ETFs, etc).

You are on your road of becoming wealthy, a millionaire perhaps!

Reuben Ong