1. Don’t save too much 🙇♀️
If you’re in your 20s or 30s, you should avoid situation where you’re just sitting in cash. You should invest your money in yourself, your knowledge, your skills. Thus making your path to higher earnings as you become more valuable.
2. There’s no need to gatekeep 🍀
There’re some people who are afraid of sharing their knowledge. They think it’s like a competition to them. Though when you make a mistake alone, it takes more time comparing to making mistakes together with some people. You’re learning faster together than you do it alone!
3. Upskill yourself in unique way 🦄
The only way to build yourself back up if you lost everything is through your skill set and knowledge. So obscaling yourself ideally in unique way is one of the best things. Try to blend completely different skills. The more unique the pairing the more invaluable you are. As an example, I’m not just an ordinary English teacher, I’ve got lots of interests, and the main one is finance. It makes me a unique specialist.
4. Turn your active income into passive income📲
Steve Shiah, a developer, made $2.3 m selling an e-book.He packaged everything he knew in the book and sold it. You can copy his results by sharing your own life experience via YouTube, VK and other social networks.
5. Look for rising tides 🌊
There’s often a specific time frame where diving into a particular market can give you first move for advantage. It’s about spotting trends before they become mainstream. For example, Tesla was the first company which started making energy efficient cars. Whilst other companies were warming up to the idea, Tesla was making most of it.
6. Open an investing account 💸
Start investing from the early age. Thus you’ll make a habit of investing. When you start investing in your 20s or 30s you think that investing is for wealthy people. Earlier you start investing small amounts of money, earlier you are able to manage big sums of money successfully.
7. Invest in index funds 📈
Really effective way to diverse your portfolio and increase your earnings over time is through index funds. Index fund is a kind of investing into a large number of companies where you can buy a small piece of it.
Credits: YouTube. Nischa “7 money tips”