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4 Habits To Avoid For Financial Security

4 Habits To Avoid For Financial Security

In our world these days, money has become a debatable conversation. On one end of the world, the elites hoard money and gold bars while on the other end millions are fighting for a dollar. Therefore it has always been the largest community in the middle that’s in the fine line of falling through either end or staying stable.

Financial literacy has been a major subject for many discussions as we lack financial education in our schools, home, and work. These have led to many unforeseen circumstances for many families; the impact has been a catastrophe, which wasn’t intended. Therefore, it’s become crucial for one to understand how to protect one’s assets.

Here are a few pointers to ensure your financial stability excellence despite a terrible economy in the future.

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 1. Avoid Spending Like A Fish

You’ve heard the statement drinking like a fish; however, there are instances where one spends like a fish. We grew up watching Hollywood painting luxury and brands as affordable items for many. Therefore, the moment we start earning a sufficient income we tend to spend on Bvlgari, Prada, and Armani and we forget that even flea markets offer the best options too.

However, these forms of investment hold value only under one’s eyesight and they fail to provide any financial values. Eventually, this form of unprecedented spending leads to a bad financial status. Therefore instead of spending your money on invaluable assets, try saving and investing them in profitable and passive income generating avenues.

2. Avoid Investing in Unsolicited Investments

Well, we have all heard that investing is the best way to ensure financial security. However, an unsolicited investment such as bets and gambling can lead to a great loss. Usually, this happens in the superstitious-ness of one’s mind; being influenced by the Do’s and Don’ts of gambling or avoiding the Number 13 bets becomes the key factor when one indulges in gambling.

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However, one must also realize that not everybody can be the master of the game and the house always wins. In our world, being influenced by quick cash and fast riches has to lead to the destruction of many finances. Therefore, investments are definitely a good idea, however, there’s a fine line between investing in a share market and investing in a slot machine.

3. Avoid Putting All Your Eggs In One Basket.

You might have heard this saying, “don’t put all your eggs in one basket,” and that definitely resembles how finances should be handled too.

This concept applies to savings and investments. Therefore, instead of keeping all your money in one bank account, one might as well diversify one’s assets. Hence transforming all income into either valuable assets, bonds, savings or other currencies is an excellent idea.

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This gives you a cushion and a backup plan in case one of your finances falls through; you will definitely be able to recuperate through your other “baskets”.

4. Avoid the Term “Settling Down” Until You’re Ready

Humans are programmed with a routine; we are all taught at a very young age that the biggest priority is to follow a pattern of life. Many of us find our soul mates, get engaged, married and proceed to have children. This is where the term “settling down” comes in. Our first investment would be a car and a house under a mortgage. While many debate the importance of not having a real estate and asset investment, Guy Kawasaki mentions that taking a mortgage is what has kept half the world population in debt.

Hence, avoid the term settling down until you’re ready. You should have a surplus of passive income, which gives you the comfort and confidence of purchasing an asset or real estate without being bonded with a mortgage. Loans and Mortgages exist as a diabetic sepsis to keep the world constantly in debt.

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Hence, if you’re able to break free it gives you a great incentive for a financially stable life.

There are many ways to ensure your financial stability. These are some simply, precautionary methods to help you towards a stable, wealthier and happier life. While many say that money doesn’t buy you happiness, it certainly builds a bridge for it.

Featured photo credit: Tumblr via europedirect.lt

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Last Updated on January 21, 2020

How to Motivate People Around You and Inspire Them

How to Motivate People Around You and Inspire Them

If I was a super hero I’d want my super power to be the ability to motivate everyone around me. Think of how many problems you could solve just by being able to motivate people towards their goals. You wouldn’t be frustrated by lazy co-workers. You wouldn’t be mad at your partner for wasting the weekend in front of the TV. Also, the more people around you are motivated toward their dreams, the more you can capitalize off their successes.

Being able to motivate people is key to your success at work, at home, and in the future because no one can achieve anything alone. We all need the help of others.

So, how to motivate people? Here are 7 ways to motivate others even you can do.

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1. Listen

Most people start out trying to motivate someone by giving them a lengthy speech, but this rarely works because motivation has to start inside others. The best way to motivate others is to start by listening to what they want to do. Find out what the person’s goals and dreams are. If it’s something you want to encourage, then continue through these steps.

2. Ask Open-Ended Questions

Open-ended questions are the best way to figure out what someone’s dreams are. If you can’t think of anything to ask, start with, “What have you always wanted to do?”

“Why do you want to do that?”

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“What makes you so excited about it?”

“How long has that been your dream?”

You need this information the help you with the following steps.

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3. Encourage

This is the most important step, because starting a dream is scary. People are so scared they will fail or look stupid, many never try to reach their goals, so this is where you come in. You must encourage them. Say things like, “I think you will be great at that.” Better yet, say, “I think your skills in X will help you succeed.” For example if you have a friend who wants to own a pet store, say, “You are so great with animals, I think you will be excellent at running a pet store.”

4. Ask About What the First Step Will Be

After you’ve encouraged them, find how they will start. If they don’t know, you can make suggestions, but it’s better to let the person figure out the first step themselves so they can be committed to the process.

5. Dream

This is the most fun step, because you can dream about success. Say things like, “Wouldn’t it be cool if your business took off, and you didn’t have to work at that job you hate?” By allowing others to dream, you solidify the motivation in place and connect their dreams to a future reality.

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6. Ask How You Can Help

Most of the time, others won’t need anything from you, but it’s always good to offer. Just letting the person know you’re there will help motivate them to start. And, who knows, maybe your skills can help.

7. Follow Up

Periodically, over the course of the next year, ask them how their goal is going. This way you can find out what progress has been made. You may need to do the seven steps again, or they may need motivation in another area of their life.

Final Thoughts

By following these seven steps, you’ll be able to encourage the people around you to achieve their dreams and goals. In return, you’ll be more passionate about getting to your goals, you’ll be surrounded by successful people, and others will want to help you reach your dreams …

Oh, and you’ll become a motivational super hero. Time to get a cape!

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Featured photo credit: Thought Catalog via unsplash.com

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