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5 Money Lessons You Must Learn

Strike a balance!

Work And career
| Contributor Content| UPDATED: June 5, 2018, 1:00 PM IST
5 Money Lessons You Must Learn Image: Getty images
1. It’s a Marathon

Financial freedom and wealth creation take time and require consistent effort. Making Money is like a marathon and not a sprint. You only make instant money in lotteries; however, the bad news is that your chances of hitting a jackpot are bleak. So rather, save money each month, invest in good options and see your money compound.

2. No Job is Small

As Shah Rukh Khan once opined, if you are good at writing, do petty content writing jobs first to earn a respectful living, rather than being a broke aspiring novelist or screenplay writer. Understand no job is small. Earning money should be your priority rather than waiting for a dream job or golden opportunity and staying unemployed.

3. Money makes Money

The harsh reality of life is you need money to make more money. Save money, but do not stash it in your savings account only. Rather make calculated investments in a diverse portfolio that includes market investments, reality, government saving schemes and so on.

4. Your Company Matters

Who you choose as friends, partners and spouse matter a lot in your entire money game. If you are serious about creating wealth and leading a successful life, do not fear cutting ties with toxic people. Surround yourself with people who are like-minded, who want to be successful, who inspire you and who’ve created money themselves. Choose a mentor who can guide you with his success, can help you build a network and can help you reach your maximum potential.

5. Strike a Balance

Lastly, strike a balance between being moneywise and conservative. Spend some money on yourself to unwind, relax and up your productivity levels. Invest some money in your personal mastery and growth to attain skills that help you make more money.
First Published: June 5, 2018, 1:00 PM IST
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