10/08/2019
Welcome to Day 3 of Saving Sprint.
⭐️
Today’s the day for some serious talk.
Now that you’ve learned to take your spending under control, I’ve got a few things for you to consider.
1. Income
Can you honestly look in the mirror and say that you’ve maximized your earning potential?
Because i am 99% that you’ve not. And i get it, you’re either tired, or clueless, perhaps you dream about “one day” when you will have made it, or everything around you is the reason why you are not where you wanted to be by now.
How do I know?
I’ve been there.
Once upon a time i was earning $300 per month with a Bachelor’s degree.
Once upon a time I thought I reached a ceiling in my paycheck.
Once upon a time I had all the reasons to why I wasn’t where I wanted to be.
But I know it can be changed. And I know how, as I’ve done it. And I can tell you - it’s not a magic pill.
Let’s face it, we are talking about saving, but are you really trying to save a million dollars from a $40K a year salary? I am not saying it’s impossible, but it’ll take you quite some time.
I hear people talk about saving a few bucks on taxes when they really are at the lowest tax bracket.
My friend, wake up and smell the reality - your problem ain’t tax, your income is too low.
2. Risk
Let’s grow up and start taking smart risks. There’s a book on every possible flavor of investing - stock market, real estate, crypto, commodities - you name it. How many have you read? I’m going to guess - there’s one book and you made it 1 page past the cover. Yet you’re eager to jump into the flashy promises to turn your dollar into 10K within a week.
Here’s my advice - take calculated risks. If you can’t calculate your possible loss - don’t take it.
3. Plan
Take responsibility for your planning. Do whatever you can to not live paycheck by paycheck. Keep 3-6 months of your expenses worth in your bank account, use smart investment tools for the rest.
In conclusion, taking your finances to the next level might seem like a daunting task, but it is also fun once you get serious.
Just like you felt sad going on a diet and headed to the gym, but got excited and energized once your 6-packs started showing.
So go ahead ⭐