We hope we have given you some great value in this series of articles on the subject of money and have had fun learning them just as we have had fun sharing them. We have a few more nuggets of wisdom to share as we conclude this short series. Many of the wealthy people we admire in life have followed these same principles that we are sharing and by following them we are well on our way to becoming financially free.
Increase your ability to earn
You may hold a job with an organization and that is where you get your primary source of income. Say you have a skill in cooking you can offer catering services in your spare time to earn additional income. I’ve seen a lot of people that use skills in areas of their passions and have had great success. Some become so successful they eventually go full time into those particular areas. However, an extra income over and above your primary income helps significantly in creating financial wealth. It doesn’t necessarily have to be in the area of what you studied in college or school. Any skill you possess has the potential to earn you an extra income. At the same time do not spread yourself too thin by taking on too many things otherwise you will cease to be effective. It is really up to you, however, to decide how much additional work you can do.
Insure a future income
We have the most energy when we are young and can take on so many things to really build wealth. However, as we grow older we no longer necessarily possess the same energy levels we had when we were younger. As we grow older we need to have an income source that keeps paying us whether we work or not because we cannot really work forever, especially in old age. More importantly is to leave an income source that will look after your family when you die or when you are no longer able to work. This is what the Bible says in Proverbs 13:22, “A good man leaves an inheritance to his children’s children, but the wealth of the sinner is stored up for the righteous.” It’s therefore imperative to plan for the long term for when you are no longer around to look after your family.
Thank you again for joining us in this short series about money and how to create financial wealth. What I learned from one of my mentors is that knowledge is NOT power. The APPLICATION of knowledge is what will become power. Implement these principles and your financial destiny to wealth will begin to take shape. If you keep doing the same things you’ve always done you will keep getting the same results. Apply these principles so that you start getting different results.
Over the next few weeks we are going to talk about the four primary ways that all of us make income which will give you a better understanding of where you are in your financial journey and how to get to your desired destination. Leave your views and comments below and share this article using the social media buttons on the page. Until next time,
Be all you can be!