Bitcoin Forum

Actually building your self economicaàlly is a very big task, and it has to do with total submission either skills or educationally, it is not a day goals to acquire financial stability, there are so many things to look at before standing out as someone who has developed economical.

1. INCOME GENERATION
2. INVESTMENT/WEALTH BUILDING
3. FINANCIAL EDUCATION
4. CAREER AND SKILLS DEVELOPMENT

With the above mentioned categories you can be able to develop economically balance status.
Take for instance the INCOME GENERATION, this is a process of setting series of businesses in other to grow balancing.

INVESTMENT WEALTH BUILDING: this is a process of investing in real estate and crypto, in balancing economically.

For some, it only takes good courage and smart decisions and strategies in life to make economically successful. You don't have to be well-skilled and highly educated financially and physically, but just clear goals and objectives in life.

Luck is also a big factor. If you don't have that luck and get the best opportunities in life, life will still be seen struggling economically.

What you've said about income generation, investment, financial education, and skill development is true, but I believe that financial stability is impossible to achieve without a foundation of character and mindset built from childhood. In my opinion, financial character, habits, and mindset are far more important than any financial instrument. I teach my children the foundations of economic character by distinguishing between needs and wants, delaying gratification, understanding the value of money and the price of goods, and being disciplined. This is so my children won't easily fall into the trap of a consumerist lifestyle, won't be tempted by instant results, and will be better able to make rational decisions. Because strong financial character equals long-term financial resilience. Without it, even a large income can be depleted, investments misdirected, and skills underutilized.

Take the Income Generation app; income generation isn't about the number of businesses started; it requires the ability to identify opportunities, work discipline, consistency, risk management, and problem-solving. All of which, if we consider them, are rooted in early character development, not just technical issues. With character, someone who has a business will not give up easily, can distinguish between personal and business finances, and can make rational decisions.

Financial education should be a family culture so that children grow up with a managerial mindset, not a consumer mindset. I teach my children to create simple budgets, save for what they want, understand wages and assess productivity, and practice delaying purchases.

In investing and building wealth, I believe that no matter how good an asset is, one will not become wealthy from investing without discipline. Patience, the ability to manage emotions, understand risk, and avoid greed or panic are mandatory. All mental and character qualities can be developed through education and habits from childhood. Skills can be learned, but perseverance, work ethic, focus, time management, and mental resilience are formed from childhood. That's what separates those who successfully monetize their skills from those who don't.

Financial stability isn't the result of one big step, but thousands of small habits formed from an early age. Income, investment, education, experience, and skills are important, but without a foundation of economic character such as discipline, patience, consistency, and understanding the value of money, none of them will last. Therefore, a person's economic development begins at home: through financial literacy, parenting, and character building from childhood. These are the roots of long-term financial stability in the microeconomics of an individual or family.

Yes, believe me, luck certainly plays a role, even in developing your own business. I personally know people who aren't particularly bright, yet they've managed to start their own businesses that generate quite a substantial profit. If you talk to them, they can barely string together a few coherent sentences. For them, the circumstances have miraculously conspired to create a favorable outcome. From the outside, it seems like some kind of miraculous miracle.

Economic stability is something that is gotten in a day but is a product of several efforts put together that is fueled by purpose.the place of self development in the road to economic freedom is one thing that can't be replaced by anything, people has to be intentional about their self development because you can't grow above your level of self development and that includes in the area of finances too.



Investing doesn't only mean using your money in settings up a business, it also means that you have to be taken courses that will help you take financial decisions that will see to it that you become more financially responsible and stable.economic development is one area that people has to take if one is to live a happy life.

Honestly I don't like theory, it's too much blabbing.

People can learn by themselves whenever their money reach some "tier", when they work and they only earn same amount for every month. They will think how to increase their earnings, they either take side gigs or study. After they earn bigger amount and they have a good amount of money that they didn't use, they will think a way to grow their money from their wealth.

It's all about your own condition and it's better to have the money first rather than money management without money.

Building yourself economically is a process, it requires time and consistent efforts that pave way for substantial profits.  While financial education, investment knowledge and skills development are crucial for a successful outcome, but we all know not everyone has enough resources to make them possible. But with basic knowledge and good perspective in managing a business or investment, any person will progress economically not because he is well educated but because he fits well on his chosen career or business.

We all have different strategies on how to improve economically, and as long as quitting is never our option, we will surely rise and become successful in the future. 

There are multiple of factors that joins to help one stand strong economically, first thing first, you've got to ensure that your source of income is intact and then also ensure that you're growing your income by investing in reasonable things that's supposed to help preserve your income and sustain you even in times when your income might not be enough to sustain you ever again.

Failure to get yourself fully prepared in times when the economy is doing well as well as when it's not doing well will get you frustrated such that  you become bitterly affected by the economy. If your finances is not growing relative to the different economic conditions, you're bound to get affected the most as the economy faces more pressure.

For me, it would be when one is able to create their own personal economy that others cannot control. Others also including the rising cost of bills or emergency situations.

You also know that anyone cannot just have money before they learn money management, such a one must have earned it somehow by either gifting, inheritance, offering a service or working a job, or by even any known criminal approach.

When anyone should consider themselves developed economically, is when they have increased their capacity to earn, when they have learnt from experience and research proper money management and budgeting, including how to grow wealth from scratch by investing in themselves, in other assets with potential to rise in value like in Bitcoin for long term returns.

The best investment is yourself, education is the key or if you don't want to go to college then have something, a talent that will separate you from others. And from then on, after investing in yourself, then it's time to move, get a good and high paying job.

After that, when you save enough money, then most likely you want to take a risk and put up a business by yourself, grind hard in the next 5 years. And after that if you have the money now then go and invest and work that money for you. And maybe in the another 5 years you will be successful enough.

Self development is the only answer to our questions because being full dependent on the government which we all know are not interested in the well been of citizens will be of know important or helpful. On daily basis, some countries are facing economic challenges because of conflicts, greed and quest for superiority, which makes some government focused there attention elsewhere instead of economic stability and functionality, and the only solution to citizens well been is self development where we know is not easy because we lack the resources but still needs to push no matter what.

I don't know if the order in your list is by priorities l, but if it is I wouldn't put building career and skills on last place.

In my opinion skills and career building should be on first place since it gives some basic income from where stems other things on your list (investment, income generation)

Sincerely speaking when I was reading through your comment I was really impressed with the way you took your time to explain things, and you even used your children to cite example for clear understanding, although I have not been visiting this economics board regularly, but I visit once in a while, and in my today's visit to this board I read two educative comments which is your own comment and the one of @pooya87 on another thread, and from what I understood on this your comment parents really have a roll to Play in children so that they can be guided from childhood on how to make good management of money for them to access productivity, and maintain long term financial stability, if not it will be difficult for them to get it right when they grow up, if they are not smart enough to utilise what have to enable them sustain their financial stability.

As a matter of fact, to acquire financial stability, you often have to start outside the scope of finance. Acquiring skills and honing them into perfection aren't about finance, but they give you financial stability in the future. Developing your character contributes to financial stability. Giving value to education, pursuing further studies, making a name in your chosen field, becoming an expert, and so on aren't about finances but will give you financial stability as well.

I feel like developing yourself economically is something that really depends on where you are starting from and what you deal with in real life because everyone here is mentioning theory but in the end it comes down to what you actually do every day for me it was never a straight line I had times where I tried to focus on skills times where I tried small side hustles and even moments where I had nothing working and had to start again so I see it more like a long process where you learn how to manage your money and also learn how to react when your situation changes.

Income investment education mindset all of that matters but it only works when you slowly build habits that fit your own life not something perfect on paper some people get lucky and grow fast some people take years and some people only really learn when they make mistakes

What helped me is staying consistent even when things are slow and not expecting quick results because building stability takes time and honestly most people figure it out step by step as they go

OP it is really heartbreaking to see that in a post or a thread like this, you didn't properly explain everything you've listed out because that would have helped a lot because yes of course I saw potentials in the thread but opening it to see that it was just what was there that was written totally exhausted my spirit. Please sir I'd really advise or even suggest that if you're making a thread that involves developing oneself and you didn't even elaborate the points you listed out. So please try to make these threads look relevant just as the topic looks because most times, what pushes us to open a thread is the topic.

Income generation is the core part which helps you to live whereas wealth building is next step of income generation which helps you to lead a smooth life even after your retirement or being rich and for ensuring a better life for your next generations. Education and skill development are basic requirement of the journey of economically developed whereas investments helps multiplying your money into wealth.

But I believe in luck favours the brave. When you can be brave or confident? Only when you are skilled and experienced. So, luck cannot be a big factor still it got its won role and you can maximize your chances of being lucky by being brave. These may sound too philosophy but I am talking from my real life things. Being lucky may work one time or two but being skilled will work for 90% of the times.

You're right about this, building oneself economically from scratch isn't easy and anyone who pretends or admonishes that economic growth is simple isn't been honest at all.As a matter of fact, building is possible and real,but it's not easy.Personal economic growth is not easy at the beginning, but once you build good financial habits and increase your earning power, it becomes much easier.

Yes a lot of background do have to be considered before one can be said to have economical characteristics and that particularly is an emphasis of your background or personal ability to be innovative with an attributes of generating incomes and also good management ability.
It's crucial to note that interpersonal skills is a primary tool that facilitates incentives and creating of new ideas and economical opportunities while the capital is of the essence to execute the project at when necessary.

Setting a series of businesses is the best way to increase the revenue generation but where will we get the money to start the business? Let's ignore the multiple businesses now do you think it is easy to set up one and keep it going with no issues?

It is a long process also need to be assisted with some luck to become successful in finance but unfortunately not everyone get that luck, no matter how hard they try they will always end up where they started.

For some people this is quite easy, while for others it can be very difficult. Luck is also part of it.
No matter how good your investment is... if you don’t make it at the right time, you might not get good results at the end.

Working hard on any boring job, is ok and understandable if you are making enough money. Because that means you will have some money leftover and you can invest that into your investment account and soon enough you will be able to retire. I have met with lawyers, a boring job, who retired at age 5, only because they were smart enough to invest carefully. One of them is my closest friends big brother, he is around 45-6 years old right now if I am not wrong, and been retired for nearly a year now.

What did he do? He worked hard, got a lot of cases, literally got all cases he could possibly could, and in return, he used that money to buy homes, and he is doing much better now. If you do that then you will do better. Learn to invest with your money, and the future is bright.

If you aim to develop yourself economically, there's always options, you can go for a highly detailed process or just go straight to your goal which is to become rich and well off. For me, being knowledgeable and skillful can be learned throughout the process, but being wise and creative, that's your asset to gain big difference from others.

You don't have to be professional in all aspects just to develop yourself economically. What you need is real motivation and clear goal understanding so that you can easily avoid the barriers in reaching your greatest goal.

Building anything is continuous gradual growth which requires consistency and discipline. Personal economic development is something that doesn't show results quickly, but gradually and that makes sense because when you look at the starting point of one's labour on building, you'll know how to spend and when to. That is why there is always a difference between someone who woke up with a silver spoon in his both hands and one who hand no spoon, but learnt how to create his own. The process of self economic development build an inward creativity, which will always pave a way no matter what.

Developing oneself economically is a lot more to talk about and it all depends on improving financially and creating a suitable environment for learning no one knows it all. Failing to learn and claiming to know it all is a silent killer investing our time and resources on learning new skills is important presently people earn from the skills they have acquired when we look around there alot of skills that one can earn very well from nevertheless we should always remember to manage our resources wisely

I personally prefer the first point, because I believe the most important thing is to have a substantial income, whether working or seeking additional income.

Now that we're working and earning a substantial income, don't just live with it. What we need to do is figure out how to make the remaining money earn more. This can be done through business or other means, and don't forget to consider everything, because everything has risks. I want to be able to find a job with a substantial monthly salary, but I realize that depends on our own skills.

What suits me more better is when a system is created that brings more money even when the owner is sleeping, that's the highest form of financial development I've ever seen, it gives you peace of mind and lets you have enough freedom to leave the life you want while money keeps dropping in your account daily.

Having financial education is an important thing for an investor. Who do not have sufficient financial education, even if they have money, will not be able to manage that money properly. Even if they have money, they will not be able to earn money from that money. It is important to know where to invest, where to waste money, where there is a chance to make profit. Moreover, if you invest for income along with investment-related knowledge, then that wealth can grow rapidly.

It is always best not to rely from someone else when you want to improve your economic status in life. So start assessing yourself how can you generate income from other side hustles. Because like it or not, at the end of the day, you will be the one responsible to your way of living and how you want it to be. There will be others like government who will provide some assistance, but the work still depends on you. No one will provide all your needs in a lifetime. Do remember that. Even government has their own problems to address. And if you are a responsible citizen, you will do your duties to at least support yourself and not be a burden of the society. Otherwise, you are not in your right mind, blaming the government for what you have in life.

There are three things that people looking to invest generally need to consider: the first is the right asset, one that truly has added value in the eyes of the public and has long been trusted as a better investment. The second is the right conditions. As you said, investors must also be able to identify the right situation to capitalize on for investment. And the third is praying that God will grant us greater luck in the work we have been doing, including the investment work we discussed earlier.

Many people think that only having money can make you successful by investing but in reality, without financial knowledge, that money becomes a burden because in fact, investment is not just about chasing profits. With this we also need to understand the risks and make the right decisions according to the behavior of the market and our own capabilities. Then we need to develop the habit of learning regularly where to invest and which sectors are better not to go into and which places have the potential for future profits.

In addition to this, we should not only save but also create income-generating assets because even if we start small and we continuously increase our knowledge and move forward according to plan then the growth rate of assets will really increase and eventually both the economy and investment will reach a point where our progress is certain.

The route that most people take to bettering themselves is through education, which is primarily via colleges and universities. However in the current age we have an almost limitless wealth of information available to us through the internet and most people can teach themselves anything online these days. Income tends to stem from what you know, learn and apply - but you must try to get beyond a purely basic manual job if you are doing low paid labor like being a checkout assistant in a supermarket, as there is very little room for wage growth there.

One thing about business is faith and how capable you could handle a business, going into a business should be something you know very well than just venturing into what you don't know how to run it or manage it.
Going into business connotes that one should be patient to run it through thick and thin because we can't expect to venture into business today and expect it to grow like an ocean

Every business person should knwo that before going into any business the first thing after getting the capital is to get experience before choosing the location of where you will establish your business, any business you establish without knowing what you are doing you will end up running at loss because it takes the experience you have to understand how to run your business and gather customers that will always visit you to patronize you in your business. A good business person knows that in business you don't expect it to boom after the establishment you watch it grow gradually and you have patience while it is growing but if you expect to start making profit immediately after starting the business then you are not a good business person.

Never giving up is a good attitude but be careful when you apply for a business because each failed attempt will take your wealth away or increase your debt. To state the fact even the most successful businessmen too had failed business so failing is okay and selling them could be a good choice in certain times rather than keep on continuing with loss making.

I don't agree with faith in business, instead I see patience as the main thing unless thats what you meant, another thing is what you have mentioned already which is having knowledge of the business you intend going into before starting it, some people have been victim of going into business they know nothing about and at the end they fail, I think generally anything that got to do with business or investment generally has to be something we have a little knowledge about so that we don't mess up, as for anyone expecting quick profit in any business, it will be better such person doesn't start in the first place because business has stages, the stage of gathering customers because how original your goods and services are, how you treat your customers and how urgent your good and services are needed in your environment, these aforementioned grows overtime not immediately.

of course you have to be well skilled in life
a lot of people have dreams, high dreams
but the truth is if you have no skills you can’t reach anything

thankfully skills can be learned so if you don’t have skills
better start getting them

All highlighted are the keywords that ignites economical breakthroughs.
Smart mindsets sets vision and knowing that nothing good comes easy, it would require courage to face and tackle the challenges involved in other to penetrate and secure a portion in the economy World of which is dynamic.

Afterwards, strategies of how you can stepup the goal to be achieved will be in the essence while consistent thriving is always the master key because sometimes, the more you keep trying and seemly not getting it right rather, the results to your breakthrough is usually almost, consistency could give more advanced ideals and energy to bring you the success at last.

Wisdom and knowledge is far better than physically fitness and batching educational degrees.
I have read lot of books where uneducated gains firms and employs even first class degree holders.

Have also come across ones in the wheelchairs being the boss employing those physically fit and skilled.

I have never seen hardworking people fail, as luck would have it. Most of those who are honest and hardworking, do their work with great dedication and focus, are successful. Only those who lack effort blame luck. To be financially successful, we have to work hard mentally and physically and persevere.

I would say that the main foundations of achieving wealth are income, investing, education &  skills. It is not enough to just sit around &  do nothin to make money. it is important to have a mix of side hustles &  active income. Investing in other sectors beyond crypto or real estate can also lead to long term success. If you have a good financial quotient, you can make smarter decisions about risk, tax &  return, this is essential. Another thing is that if you can acquire skills, it’s like investing in yourself. Achieving a good skill is earning more

Developing Oneself eonomically is  not only related to earning, it also means Improving  your standard of living, manage resources wisely take step towords long term wealth. its good to think about better opportunities and work for better standard. Economically sound means, always being capable of handling emergencies without taking loan. this is not possible without financial education i am totally agree with you. Consistently saving and Investing wisely leads towards economic growth. Financial education enable the individual to take right decision.It's not overnight success, It's a gradual process and gradual effort. It's Bittter reality to maintain a strong image in the society one has to Improve his economic and financial condition

All is good until you are put in the real world, not to sound negative about this but trust me if it was so easy everyone in the world would have go their sh*T together but unfortunately other factors we dont account for is health, drug abuse or alcohol abuse and other bad habits that drive you off this road 🛣️... Otherwise not to discourage anyone but someone has to say it that not everyone crosses this bridge 🌉.

Is there any one way for you to develop yourself if not through building skills that will worth more for you when you are done.
In this economy age, you need to have different skills for to survive and make better plans for yourself. This also includes those that are earning big salary from their respective jobs. Business and investment are ways anybody can get to that level of financial stability.

Hard work pays but smart work is what pays faster and better. Quit that job that is life threatening to you and feel a breath of life again to start something that will give you enough rest and make sure you develop yourself by improving and adding better skills to the ones you have for bigger and better opportunities. Opportunity might be at your door step but because you are not prepared and don't have the skill for you to be employed or get business deals, that alone can be worse than a nightmare.

Investment does not have to be in real estate and cryptocurrencies only right ?
There are several other investment options we can target but what should matter is that, we are investing and investing rightly.

Gaining financial independence and stability is a very heavy task that needs a lot of dedication and commitment to achieve it and just as my friendly will always say that, “making money isn’t easy but what’s harder is maintaining the money when you finally get them,

Everything must start with a strong economy, when we have economic stability, stable income and investments for the future that are all well organized then other self-development will lead to positive things and also grow, I do not deny that so basically we need to work hard to be able to earn a lot of income and learn to manage money because in the realistic world everything needs money.

These are good points for building our economy, but in practice, it's not easy to implement, as there are many factors that complicate things when building our own economy.

We also need to be consistent in doing so, and remember, it will take a very long time, so it requires patience. Another problem is that sometimes we're not very patient, and sometimes we feel like we can never move on from what we're doing. All of this requires a process, and the process won't be easy. It also requires mental fortitude to remain sane when facing negative events.

I agree with you on this. In a situation whereby an individual is earning consistently, adequately managing their finances and planning for their future, then life becomes a lot more easier for the individual to navigate, and there’s also a natural improvement in other areas of his life. But when you take a look at the broader picture, you’ll notice that it’s slightly deeper. Having money can potentially create more opportunities for someone but it’s never a guarantee of success or progress. When it comes to financial stability, the most crucial and useful thing is the mindset behind it, we also have self control, there’s also discipline and then wise decision making.

Long term trust in your investment and not selling out quickly whenever you are scared is the first step to make some good money. Many people end up failing at that part but the reality is that if you keep selling whenever things go down like right now, you will end up losing.

We are going to keep going down all the way until next years october, where we will hit the bottom, and after that it will slowly start to go up. Selling right now will not help, but keep buying until next year and that means you have literally 11 months until you can stop, and you should be able to invest a lot of money for 11 months and do fine, if you can do that then the result will be great, you will have bunch of money invested, then the rest is just waiting for profit.

I would say career and skills development is a very important part here and should be listed on the top. Once we gain required educational degree or skills, we can be more financially stable because we will be able to find a good paying job which will pay our bills at the end of every month. After getting a job, we can spare some time in building an offline or online business which can run on auto-pilot so we can get a stable income there. Later comes investment part.

Investments can never be started off first because we need to build some wealth first so we can start savings. Investments can be treated as a long term goal because expecting short term profits will only make it a riskier choice. Investments can be used to secure our future but for the present, a good paying job and a auto-pilot business will do just fine.

It takes a lot not just money but also time, effort, sacrifices for one to build an investment wealth and income generation. While those who have got jobs have already their way to generate income, if that's not enough in today's time. They need to make sure that they'll build another source of income out of their salaries and that's through investing and or making another business that could make them sums of money. What these people do is they are testing the waters and when their side hustle gives more profit than their salary, they leave the job and focuses on that new business they have which later on scales because they have now more time to do it.

I totally agree with you . Developing oneself economically involves a whole lot . Consistency is Key. Also, I think acquiring skills and knowledge about financial stability is utmost

Is there anything like luck?
For me there is nothing like luck, because in every opportunity stand a prepared person to fit in to that career, so opportunities stand with a prepared person.
Pardon me to say luck is never a factor for opportunity.

That's right  self development matters and sure pays when you're economically developed. And the areas you've pointed out thus help and that's why it's needed that one multitask to generate more income to balance their financial status. So one can really develop oneself by grabbing a lot of  opportunities inorder to generate wealth, so apart from this you need to trust the process  and be  consistent in their dealings.

It is very easy to read but when it comes to real life, we usually ignore such things and prefer enjoying our present without actually thinking about the future. A future oriented person will always be prepared and he/she will follow all the above mentioned things to be successful ahead but someone who just loves having fun will spend his days partying or enjoying with his/her friends and will regret once they start having financial burden.

Consistency is the key. Most people will be tired doing the same thing and they will easily be distracted which will break the chain and they will have to start from scratch in order to be financial stable.

Luck shouldn’t be undermined for sure, but we should try as much as possible to still have the basic knowledge and skills required to succeed economically. When you have all those at your discretion, it becomes easier for when luck arrives to elevate you faster and better. Education is very important in any sector you find yourself in life, not having one may limit your success rate even in places that you have the best of connections. I’m actually talking from experience, but then, pray to have both because when you do, you’ll understand the importance of them and how your life will improve economically.

People who have a good income and are consistent in managing their money well, also by thinking about their future, in my opinion are wise people because they live a good life where they pay attention to things that must be lived and that must be prepared. We can see many people who have worked and have income but not all people who have worked and have income can manage their finances well or think about their future, sometimes there are those who only think about their lifestyle or bad money management and people like this will have difficulty developing themselves, in contrast to those who can manage their finances well and think about their future, perhaps they are better in their mindset by not wasting money on things that are actually unnecessary because it is better to save it for the future that must be prepared.

Economic development is one of the keys to a better life. But unfortunately, not everyone is fortunate enough to develop their economy properly. Many factors influence economic development, one of which is the environment or location where the economy is developed. We can see a significant difference between economic development in urban and rural areas.
In urban areas, everything seems to be readily available, but in rural areas, everything is difficult, so not everyone has the same opportunities or abilities. Even those with education face difficulties. Nevertheless, everyone deserves to fight for all opportunities, even though they each have their own challenges.

Every one of the reasons you mentioned is correct, and for some people, taking risks and applying strategies can also create success in life. Taking risks is the first step in a person's life, taking risks is very logical when doing anything. Because if you don't take risks, you will never be successful, if we talk about investing here, then taking risks is definitely the most important.

I think that is where determination, persistent and courage comes in to play. Everyone might not cross the bridge because of their own decisions not because they wouldn't have if they were keen towards their goal.

As for health factors as far we can walk, talk, sleep and think then I don't see any other health challenges as limitations. Those can be managed with the.proceeds gotten from our acquired skills.

Everything will have a process so we need to go through it. No need to rush, go slowly but surely. If we have determination, persistence and courage, we should believe we can achieve our goals.

We need to improve ourselves to have a better life. Not just financially but also for ourselves. All of that needs more things such as knowledge, effort, and will.

That will affect our careers and skill development so we will have more sources of income, investment, and financial.

Hahahaha, well I think this is a very nice topic and he or she made a very good point concerning money management to me,
Money management must not be when you have it in quantum, it starts from the little you have in as much you are not managing the little you have how then will you manage it when you have it in quantum? I think the op wasn't blabbing but making a good topic.

In my opinion, starting your own business doesn't require a high IQ and three college degrees. In my opinion, such things can even hinder your success in business. 🙋

A focus on profit is essential in business. The founding documents of any commercial organization state: "The primary goal of a commercial organization is to make a profit." And a businessman should be literally obsessed with this idea.🦾

 It's also important to create a business system. The system itself shouldn't be overly complex. Systems are usually list-based. A businessman should always have a variety of options to choose from. That is, they should have a list of clients, a list of suppliers, a list of software, a list of potential employees, and so on. This allows them to maintain the functionality of their business system and effectively scale the business. While an employee earns money by acquiring new knowledge and skills, a businessman earns money by creating and improving their business system.

Despairo made a good point, if you don't have money what is there to manage anyway? And there is levels to all amount of money, the highest amount I have ever handled is a little over $35k and I built my disciplinary habit around this amount.

If I ended up with $500k do you think I will be able to manage it? The higher the amount of money you have the harder it becomes to manage, this is why many people who got rich all of a sudden had to go broke again.

Money management starts from little is the same as everyone spends money, but the management of having a lot of money is a different experience entirely.

I'm sure everyone wants a high income in life because it allows them to fulfill their needs and desires. However, managing large sums of money isn't easy. Because mindsets differ, some people aren't used to seeing large sums of money in front of them.

Perhaps when they have a lot of money, I think most people can't manage it; they tend to spend it on their own needs. Only a few people think about how that money can generate more money.
Of course, the mindset of wanting to turn money around only occurs in people with a business perspective.

Everyone certainly has different life goals, but the goal is to live happily, meaning to be financially independent. However, to achieve that, everyone must prepare themselves early on by building knowledge and discipline.

It's interesting to think about the opportunity to manage a large amount of money. I think when we have that opportunity, we're naturally already accustomed to how we managed our money, from when it was small to when it grew to large amounts.

Someone with long-term goals will naturally manage their money very well, such as by taking out insurance and hiring a credible and reputable accountant to safeguard their assets.

This is usually done by people who have just seen or received a large amount of money, but if they earn it regularly through hard work, I think it can still be controlled.

And while it's certainly not easy to manage finances well, if we have sufficient income, all our needs and desires will be met, and gradually managing our finances will no longer be difficult. I say this based on my personal experience.

We do not see that business perspective in a lot of people. They would simply look for ways to spend their money once they get access to bigger funds. They would hardly look forward towards saving and will only look for temporary pleasure while spending their money. These people will always struggle financially and will have to look for ways to earn money. If in case their income stops, they literally have no savings and will have to start from scratch.

Those who make their money work for them are usually playing smart and I'm pretty sure they always have a back-up plan to secure their future finances. Having a high income job is really a good thing but let's be honest, how many are able to land on a high paying job profile? Most people wind up in working where they are underpaid but they still don't see much of a option because they are able to manage their bills at the end of every month.

People should save more and more money if they are middle class and they want to make wealth because if you will invest blindly in anything then you will lose your money. People want to be rich by betting and gambling which is not possible because by gambling you will lose more money than what you will get from that . There are people who have no financial knowledge but they want to be successful person in their area by investment in real estate. Real estate is risky if you invested in a project and people will not take interest to buy the land around that And your investment will be at risk because no one will buy your land or plot . Investment is for people who have courage to lose money And have knowledge to invest for 10 years.

I agree with you but developing one self economically doesn't just mean having a skill or going through high institution, but one can only achieve  economy stability through hard work, courage,  consistency, and having a positive mindset, embark on business that will generate more money, spend more time on your business, examine the environment before setting up any business, because most people don't even check the environment if it will move market or not, wealth doesn't just grow but one need consistency and hard work this increase your value over time, rich people don't just become rich, t's due to their steady pushing.

Sometimes, when someone holds a lot of money, they feel comfortable and assume they'll be safe, but that's a flawed mindset. No matter how much money we hold, if we don't manage it well, it will quickly disappear.
So, a healthy mindset must be instilled, one that allows the money we hold to attract more money. We see extremely wealthy people who, instead of retiring and doing nothing, expand their businesses. While we might expect them to simply sit back and enjoy their retirement, their mindset isn't like that.

Currently those of us who do not have a high income certainly have a lot of money which is something we dream of, but if we get the money for nothing without any hard work, then the money we have, no matter how much, will not last long, like business people who already have a lot of wealth but until retirement they still think about their money turnover, so when we have a lot of money, we must master business insight so that our finances continue to flow.

No matter how much money we have, it will be wasted if we don't manage it properly.
So, the most important thing is to have a steady, substantial income, This can be achieved through skills, Furthermore good money management is essential for continued growth, Having this knowledge and sufficient funds will enable us to manage our finances effectively, both for future investments and other purposes, ensuring long-term economic security.

If holding a lot of money makes them think they're financially secure, that's certainly a flawed mindset. What you've said is absolutely correct: the money we have must be managed well and we must also generate returns from it. This way, we're well prepared for our future retirement. You are right, most of those who have become rich certainly continue to develop their businesses, even though we only see them sitting back and relaxing, but the money they have has been used to run their businesses and just enjoy the results of the hard work they have done in the past, so it is very important for anyone to continue to develop themselves so that they can enjoy their old age later by relaxing.

Even I have personal experience with similar situation. If we have a stable job than managing finances is much easier because at the end of the month, we always get paid and can at least pay our bills and save some money for expenses. If we do not have a job than it might really get challenging to manage our finances because we will have to struggle every once in a while to get paid and also our bills might remain unattended.

I will never prefer losing my job because that at least makes me financially stable even if the pay might not be up to mark. I will prefer having some side hustle so I can make some extra money along with my job which will only make me financially stronger and I can pay for luxuries or even take my family on a nice vacation every 2 or 3 months.

Investing in Bitcoin covers most of the things you outlined here because Bitcoin requires the least expertise among them and can be done from anywhere irrespective of income level. If an individual is able to figure out the starting capital, they can comfortably start investing in Bitcoin and holding which is safer than even real estate. In this modern time, we can do better financially if embrace Bitcoin and not rely entirely on conventional investment.

You are very correct with all you have listed above , but I feel the most important one is career and skills development ,  with the way the world is right now , skill is very important even with some professional courses, some companies can’t even hire you if you don’t have a good skill or working experience, even business if you are not skillful you may not be able to handle business well , but when you have a good skill it can enable you know how to manage the income generated , so to be able to achieve economic stability you need skill , you need to be consistent in whatever you do , you also need a right mindset with a good strategy and place value on yourself, I believe this can help one develop economically .

Well, that makes sense. If we're accustomed to managing money properly and responsibly, even in small amounts, it can be a good foundation when we have a larger income. Someone who has been disciplined since birth, including in managing their money, will likely be able, and even easier, to manage a significant amount of money.
If someone is thinking about their future or has long-term goals, they will certainly try to prepare for it well in advance. Although there may be some surprise or unfamiliarity with a larger income, having previously developed habits of managing money well will serve as capital and can help make managing it easier.

People who are wealthy and have a considerable amount of money have certainly gone through a process and developed a mature mindset. It's impossible for someone who is wealthy and has amassed a large amount of money to be unable to manage it well unless they inherited it.

In essence, wealthy people are born from a long business process; they possess a different mindset, ready to weather any storm. This differs from the mindset of an employee who relies solely on their salary and then sets aside money to start their life after retirement.

The financial stability is not only connected with the income growth or investing but has a rather profound psychological dimension. Most of them end up being financially incompetent despite the increment in their earnings due to a lack of control in their actions. As such, in my view mental discipline is the key to financial progress.
Money making is essential, and not all people can become business starters at the start. To others, the initial move is to realise what they incur and do away with what they do not need. It is also a type of financial advancement. Likewise, all do not invest in the same location. There are those who favour real estate, others favour bonds and yet others simply count on the formation of an emergency fund as the initial step. All these are components of wealth creation.

Financial stability does not seem like a formula to me, but it is a process that is developed within the frames of a specific life of a person. The four points are therefore useful but it is the application of the points that will entirely depend on the situation of the individual.

So, we have a lot to learn, and the money we have should make it easier for us to learn, because we can attend seminars and similar things, and perhaps learn directly from experts by finding a mentor. Instead of feeling comfortable, we should be thinking, "When we have money, we can do anything." So, we should be worried when we no longer have it.
We also need a healthy environment, because it can influence our mindset. We can learn from businesspeople who have a business environment.

We should not remain on the same spot for too long, if we are into something, there is more expected of us to do and continue in doing in other to maintain a high level of business standards and ethics, this could begin from how we are being open to learning, the resource we make used of in learning and the duration it has taken us towards acquiring the normal expected competences in doing a business after learning,  those that refused to learn failed to grow, this is another reality of life.

There are some people who think about wanting to progress further and they are people who tend to be brave enough to step forward from what they are pursuing, even though it has actually helped them in terms of income, but the desire to progress is definitely there, it's just that not everyone is like that, sometimes there are people who are better off being grateful for what they already have, they think it has helped them, so they won't step forward again unless the thing that helped them has ended, then they have no choice but to step forward.

Yes, it's true that in the context of economic self-development, it's important to do what you said above. We also need to be aware of this, and of course, everyone should go through a learning process to understand what resources we have and what we can utilize around us by continuously learning to acquire the desired competencies.

Money doesn't just come. It comes when we create something of value, whether it's a selling point or a benefit derived from previous learning. When there's high and sustained demand for a product we've created, simply take the initiative to mass-produce it, and the money will flow.

And this is another reality of life, born from independent efforts, starting from a small point to something big, as you also mentioned above.

STOP! Why invest only in real estate and crypto? Why such a poor understanding of this process? Where are stocks, Treasury bonds, mutual funds, currencies, futures, and ETFs? There are so many investment instruments in our world, and yet you're still so limited in your thinking. Try to broaden your horizons and consider other options to expand your investment portfolio.

Exactly, not everyone is going to move forward for progress some are comfortable in their place and want to stay there and there is nothing wrong with that because not everyone has the same mindset, Those who try to learn improves their quality over time and those who are reluctant to learn stay where they are. It is a very natural division.

I think it takes courage to change so those who can move forward usually get more new opportunities. And those who are satisfied with what they have are not doing anything bad they are just waiting to see if the situation changes and make new decisions also there are two types of people both are real.

Yes, that's normal because everyone has their own thoughts and choices. And I don't think those who are reluctant to move forward will stay that way forever. I think they might occasionally consider moving forward, but some are brave enough to try, and others just think about it and then return to the reality of life, which is more than enough.

I'm familiar with the two types of people you're referring to, but did you know there's another type besides that? Those who desire progress but don't take any action toward it (they're just empty talk).

Honestly, people like this are annoying. I have a friend like that. He often says he wants change for the better, but he doesn't provide any proof. It's so annoying that I'm sick of hearing it.

Indeed, developing one's own economic potential is a tremendous amount of work. Of course, it will pay off handsomely in the future for those who put in the effort.
I've met many examples of young people over the years who seemed quite ordinary—either ill-equipped for technical sciences or simply uninterested in anything. But when they decided to become economically literate, I was amazed at how talented they were. And the fact that everything came so easily to them suggests that there are people who truly possess economic talent.

I can agree with you here. Luck is never an opportunity as it is an external factor and depends on almost nothing. I think we have to generate our own opportunities as they do not come that easily. One might think they are lucky just because they got the right opportunity at the right time but still this might just be a coincidence and has nothing to do with luck. I used to believe in luck and sometimes I thought I am really lucky but that was just a coincidence and those things hardly happen again. If I was lucky enough, I would have got the same opportunity again which did not really happen.

People still believe in luck but I believe in karma. A good deed done by us comes back to us and that is more powerful than just being lucky. So continue being good to others and help other as much as possible without any greed in mind.

Usually, I won't believe in luck. The ones who think they are lucky just because things go along their way might believe in luck but I believe in hard-work or efforts rather than luck. I have never had good luck but still live a better life because I am ready to take that extra effort to make myself earn way better.

Sometimes, I have proved to be most unlucky as I had to loose a major chunk elsewhere which could have been easily tackled. That was the time I stopped believing in luck and started making extra efforts to live a better life. I am sure there might be a few others who might not really believe in luck but still are successful because they are ready to take extra efforts and work hard instead of relying on luck.

The family should teach children the mindset of financial stability from an early age. As a result, each child will understand the difference between their needs and desires and they will be able to make rational decisions without being tempted by immediate results. And when they learn to maintain financial stability from an early age, it will prevent them from being misled in their investments or underutilizing their skills later. At the same time, they will be able to grow up with a managerial mindset. If they cannot build the foundation of economic character, then they will not be able to keep their income, investments, education, experience, and skills permanent.

The approach of developing yourself economically is appealing but why people prefer only crypto or real state is not going well. it's good to think other option but decision depend upon the person mind set or the environment or the economic situation also matter. Diversification does not mean to invest your money on everything it required deep research or experience most people find shares or bonds difficult to understand .yes sometimes individual have research or experience but due to instability in economic condition can't make choices according to his mind set. the role of government is important to support  the economy government should introduced different courses or training programs through which people get educate themselves. government can guide the public about which is most profitable and stable sectors with proper guidelines individual can improve his economic condition which ultimately lead better economy condition.

income generation doesn’t only come from businesses it can also get from active work which usually means you are employed by someone else
investment is what people overlook the most it’s difficult to have investments anyway because it requires you to have a lot of excess money but it’s essential to have investments to secure our future

Real investors will not remain in one investment so long before adding another investment that will be more profitable than the first one, some investors improve financially and materially through different investments they set up with huge amount of capital, even though you are making progress in your investment never you stop learning from those that are above you because there are some things you can still learn that will make you to dominate more than some investors, no matter how successful you are in investment don't allow failure to show up because it can make you look like someone that don't have the knowledge of the investment, and it will be difficult for you to dominate as you want.

Of course, building an economy from scratch isn't as easy as theory there are many aspects we must go through and implement. Essentially I want to say, while you're still young, focus on things that have a compounding effect, because little by little, it can add up. There are several things you need, and you shouldn't delay, starting with building your reputation. Once people trust you the door to opportunity will open. Likewise once you're proven dishonest, the door to good fortune can be closed forever.

Next of course regarding good financial habits, saving doesn't need to be a lot, but start now. Set a reminder every month and set aside an amount that can be saved and invested. Keep honing your skills and also keep expanding your network because youth doesn't come twice, don't waste the opportunity to accumulate good things so that your life will gradually improve and you can achieve financial freedom.

This can be applied initially based on skills. For example, if someone has the best ability for business, then develop that business to achieve success. Once the business is running well, we can learn to invest to further increase our income, or we can do the opposite, based on each individual's abilities. To create balance and wealth, one requires knowledge, and I believe it can be learned if one has a strong intention and determination. Sometimes, persistence is difficult because the process is not easy.

The courage to step out of one's comfort zone must be cultivated so that taking small risks is not a problem because we know what we are doing. Most importantly, these risks are based on the right actions to achieve life change. Building wealth is not easy because it requires personal abilities and skills so that every decision is based on accuracy will achieve the opportunity for success.

A strong desire will be the main factor in someone's self-development, regardless of whether they possess basic skills or not. However, if someone has a strong desire and consistently learns, I believe those skills can be acquired, and economic self-development will slowly occur.

A person must indeed step out of their comfort zone if they want to change and make significant efforts to achieve success. It won't be easy, and it requires consistency and hard work to achieve it, and not everyone is willing to undertake such difficult endeavors.

The mentality of depending on the government for all forms of support is wrong. The government will not do everything for you; they have other responsibilities. One can learn different skills through the internet, specifically YouTube.  The role of the government is to create ca onducive environment, such as favourable regulations, provision of security, infrastructure, which will enable businesses operate without much problems.

You have the responsibilty of identifying lucrative businesses that will floursh in your area. You could check the goverement economic plans and get information that will help your establishment.

What you said is not wrong, there are many good investments for us to choose from. Financial investment is very broad, not limited to real estate and bitcoin.

But we shouldn't be so quick to call OP narrow-minded. I mean, we come from different parts of the world and not everyone is as lucky as we are to live in a country and an environment where we can know and have access to everything. You know, there are a lot of people who have never seen physical gold in their entire lives, never had any exposure to forex or stocks. All they know is crypto and maybe real estate. So there is nothing wrong with them just sharing what is within their understanding.

In your opinion, do desire and mindset have the same meaning? I see many people who fail to achieve a better life because they lack the mindset to overcome complex life problems. Instead, they constantly talk about their desires but never implement them, thus finding no way to change their lives for the better. Some people lack the ability to earn money online, so they have to work traditional jobs. Currently, job opportunities are very limited, making it difficult for them to adapt.

In my neighborhood, people spend more time in coffee shops, and they generally say there are no sources of work available, forcing them to survive with whatever they have. But sometimes we see some people who are active and able to utilize their existing potential can actually make money and it seems there is a gap regarding the current human resources.

I personally feel very confident that I am also in the process of developing myself economically. Not only economically, but also emotionally and in terms of knowledge. And even socially. Because all of these things are inseparable if we want to truly achieve the best economic status. And my goal is the same as most people here, which is financial freedom in the near future. I don't want to wait until I'm old enough to achieve it. I want to be successful at a relatively young age because I want to enjoy more time and I have goals to visit several countries I haven't had the chance to go to yet.

An important asset besides money itself is building relationships or social connections, building knowledge (continue learning and make reading a habit), building emotional intelligence (be someone who tries to control their emotions, which will increase maturity), and all of that will be needed in the process of building better finances. Therefore, become someone who is mature in thought and emotion, has a broad perspective, has many connections, and is disciplined in career and business development for the purpose of financial growth itself.

Every person needs income, investment, education and skills in their life, but if there is no discipline, patience and consistency and one does not understand the proper management and value of his money, then he will not be able to keep any of it permanent. And to keep all these things permanent, financial character is needed which is developed from childhood. When someone grows up with a financial mindset from childhood, he learns how to manage money from childhood, learns to make a budget and grows up with a saving mindset, then it will be very good for him in the future and he can make rational decisions without delay. When someone wants to invest, he has to maintain discipline, understand his risk capacity, be patient and control his emotions. Therefore, only those who acquire patience, consistency, financial character and mental stability from childhood can successfully finance their skills.

Well, I wouldn't say they need to require having these skills from childhood, but yeah, one has to have a clear mindset from a very early age or at least have it in their nature. It's mostly about how someone has been brought up. If you are brought up in a family where your elders are responsible, disciplined, and are very good at managing finances, you will grow up learning those skills automatically, because children learn from their elders, so whatever they see their elders do, they start doing that as they grow up, this is why it's important for people to make sure they do positive things in front of children for them to have a good upbringing.

You are right that it's important for one to have proper management skills to have what they have acquired permanently, like if you have inherited a business from your father or grandfather, and now you have to take care of it and make it grow further, you can only do that if you have management skills, and also discipline to run the business successfully. If you have no such skills, you will slowly lose everything, your business will go downhill, and you won't be able to make more money with what money you have.

Learning to cultivate an interest in business may not be easy because sometimes it's about following the habits of your parents. If your family doesn't come from a business background, it can be difficult for someone to get involved. Even a child born into a business family won't necessarily be successful in the same field. Skills are indeed necessary in any activity so people know what they need to do, and growing a business to be more successful isn't as easy as we imagine because there are many things to learn.

We sometimes have to develop skills and a mindset of never giving up because sometimes running a business takes a long time to achieve success and even the process is very complicated because you have to fail many times before achieving success and if that spirit is not there, it will be difficult to survive in business.

Parents' occupations play a crucial role, and their mindsets can also be crucial. Some parents restrict their children's abilities. For example, if they are farmers, they assume their children will become farmers too. If they are workers, their children are always expected to find work.

This mindset actually hinders their children from succeeding in other fields. I myself was even belittled by my own family. But I didn't listen to them, I was motivated to prove myself until I finally proved myself to those who belittled me.

Truly said. One key important thing in business development is patience.  As a business person you should be ready to be patient to start small and build up gradually.  With patience and consistency you will build your brand to a level of excellence and a general.demend by the public.  Starting small doesn't mean you will not make it. Its only a preparation ground for more to come. Another very important factor yo consider is originality.  You need to be unique and original in what ever you are doing.  Customers are looking for unique things so to enhance faster growth of your business.
There are allot more factors to consider, however everyone who seeks development himself economically must be ready to sacrifice allot of things as its entails allot through determination to get to your desired place.

Yeah exactly, when someone have money, it will be very easier for the person to learn more, but this will only happen if the person has the mindset to continue learning. But I don't think some will be willing to do so, because the materialistic things will diverse their attention, and the only thing that comes into their mind when they have money is how they are going to lavish the money on their wants, without even thinking about their future's needs.

This isn't a 100% guarantee, although there are many cases where parents' occupations are usually passed down to their children, such as managing a business and so on. This can also be based on the understanding that if parents are farmers, their children will also be farmers. Parents should guide, not force, because each child may have different interests and not all enjoy working like their parents. For example, in my family, only one child may follow their parents' occupation, while the others have chosen their own paths based on their skills.

This mindset must be changed because every child has a different path, and allowing them to grow up under the pressure of following their parents' occupation will limit their ability to develop own skills. Following their parents' occupation also doesn't always lead to success for children because sometimes don't have the same work skills as parents; they are much more aware of the specific situations that can lead to success based on skills.

People who have money but no longer want to learn to make their future brighter are usually those who are too greedy for money and also lazy and lack the sense of striving for their own well-being. Meanwhile, people who are aware of the future will always know how to value money, so they will use it for more useful things, especially for things that can have a positive impact on themselves, such as capital for businesses and other things. Because people who don't know how to handle money properly will always face difficulties when they run out of money and squander it on things that are less beneficial to themselves. So in matters like this, perhaps we can find a very clear difference between people who are still able to think wisely and lazy people who only think about how to spend what they currently have.

Honing skills and mindsets is key to success in achieving a better economy in the future. While inheritance from family plays a crucial role, without a sound mindset, it's also futile. When talking about families, it's often because they perceive poverty as deeply structural. With such conditions parents' mindsets also assume that poor people will struggle to escape the cycle of poverty due to systemic factors not just individual ones. This is the reality today not only wealth can be inherited, but poverty is also the most common trait passed down from generation to generation.

That's why it's crucial to change your mindset early on so you're always looking for ways to escape poverty and striving to develop a better economy for the future. The right mindset will change everything and prevent you from simply accepting reality. With a positive mindset, you'll have the effort, determination, and will to hone your skills.

Well, it's not 100% like that, because some parents also support their children's desires. In fact, simply providing support is enough for children, it makes us more motivated. Some parents actually ignore their children's desires, meaning they don't even offer support, let alone guidance. However, I'm sure they don't want to, they just don't know how to express it.

This is usually due to economic circumstances, as it's undeniable that a family's finances influence almost everything, including communication within the family.

Indeed, becoming financially strong takes time and serious commitment. It is not something that happens overnight and anyone chasing quick results usually misses the bigger picture. what really matters is being intentional about how we earn, how we grow what we earn and how do we improve yourself along the way. When those areas align, long term stabilty becoms achievable. True Financial stability is built step by step, when consistency meets knowledge and self-control, the result eventually begin to show, even if it takes years.

Overall developing oneself economy begin from how good your working recently and what the skill do you have, I think easily with money management later will allocate for investing in bitcoin, property, land until investing at stock. I think impossible talking about the second points "INVESTMENT/WEALTH BUILDING" if you don't have good job and not enough money yet to use for investing. Learning about financial education depend on how much money having firstly without have money how to manage well the financial condition.

One point additional I think about "consistent", its important after all points describe by OP and the individual must be consistent when allocating money at investment not awhile moment only. Keep continues if want investing money in the several right investment way until earn much benefit exactly with profitable.