In recent months, the financial sector has become the subject of many negative stories. Home prices are falling and lending is being reduced. All of this seems to point towards the end of a false economic boom. The rapid economic corrections will not be surprising, however, due to its thin foundation.
When people hear the number trillions, it can be hard to comprehend. The debt is made up of personal loans from millions of people.
Today, money is king. If you can afford it, you can send your children to the best school in the city. Otherwise, they will have to attend any local school. The students at local schools may not be able to prepare your child for the future in a manner that will give them the best chance in life. Money can’t buy happiness, but it can buy comfort. How can you easily earn money? Here are some money-making ideas that you can use at your races.
To gauge where you stand at the start of your journey, you can use Robert Kiyosaki’s rules for how you score on the money-management and investing scales.
Money management level 1: If you wish for things to turn out well, or don’t understand your finances, then you are at this stage.
Money management level 2. This level is likely to be reached if you save money regularly in a low risk, low return account. You can then use that money to make a purchase. You will be back to where you were before. Most people prefer to use debit or cash cards.
The third level of money management is when you can contribute to the pension plan at your workplace. However, you may not be financially literate and will be unable to read financial statements, balance sheets, or annual reports. It’s better to leave these decisions to the professionals. After hearing about stock market crashes, you may be hesitant to invest in stocks yourself. It may seem that everything is fine, but it’s not.
You will need to have invested in education before you can participate in the money management level 4. It’s possible that you have also worked with a financial advisor. You should learn about investing as soon as possible and eliminate bad debts.
The fifth level of money management is where investors are more aggressive. They know their investing principles and are well versed in tax laws.
Take some time over the weekend to figure out which level you’re at and devise a plan to move up.
