3 Fundamentals of Money with Minority Mindset
When you want money, you have to:
1. Make money
Nowadays, make money literally doing nothing.There are businesses who paid people for sleep testing. You just have to explore new things to earn money. Some of you might think of starting a business but you have to know that this doesn't work for everybody because you might be that type of person who works, supporting a family and can't find time to manage it, there are still side businesses you can do. Just like creating a blog and YouTube channel. You just have to be creative for you to have multiple sources of income. It is now a trend that people create their own job. According to Forbes, 50% of the people in the US will be freelancer by 2020. But the thing is they don't where. But if you have the right mindset to understand the strategy on how to do it.
2. Make it work for you
Earning a lot of money doesn't mean anything. Don't just settle with it. You have to work it for you by thinking of ways on how and where you can put it to double your money.One of the best options are to invest it on real estate, stock and bonds. There's also Dividend where you can invest and receive a portion of the company's earning. However you cannot predict when is the right to invest but you know when it's up and down. And the right time to invest is when it's down, it is the time when the media is telling us that the world is going to end because everything at that time is cheap. There are also investing apps that you can try to control your money like Acorns. It is an application where they automatically invests your spare-change.
How much did you think you should invest in yourself? Jaspreet Singh from Minority Mindset suggested that if you're young, you should go all in and not worry about investing on stocks. Instead put it in a business and start allocating the 50% on living expenses, 30% on investing and 20% on savings. And if you're older, 75% on your living expenses, 15% for your investing and 10% for your savings.
3. Learn how to keep that money
Try to put your mindset on how not to look rich but to be rich. You have to keep in mind that material things doesn't matter. You may not have the most expensive things you can think of but at least you know in yourself that you will not be hungry or broke for the next few years.
If you want to learn more about this, just click the video below