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Being smart alone doesn't secure yourself into being rich. I know a lot of smart people who are still making ends meet up to this day. I know a lot of class cum laude but never made it to five-figure salaries or even found something that'll make them rich. Being smart without imagination is pretty much only restricting a person within the confines of their field, making them intelligent on paper but it ends there.
Spending habit is also one crucial thing that greatly separates rich people from the poor and middle class. Spend money on what you only need, invest a portion of your income and allocate something for emergencies and savings. A good allocation of income on necessities is one way of being financially educated.
Don't ever get credit cards as it will, for sure, urge you to buy things that you don't really need. Rely solely on your means and try to not overindulge on things that will depreciate its value over time.
Lastly, invest more, save less, especially if you are in your early 20s.
Working for someone doesn't meant to be smart,being smart is making profits by what we have.Even the poor people can make profits which is way better than working for someone.Spending habit is also one crucial thing that greatly separates rich people from the poor and middle class. Spend money on what you only need, invest a portion of your income and allocate something for emergencies and savings. A good allocation of income on necessities is one way of being financially educated.
Don't ever get credit cards as it will, for sure, urge you to buy things that you don't really need. Rely solely on your means and try to not overindulge on things that will depreciate its value over time.
Lastly, invest more, save less, especially if you are in your early 20s.
You can't have 4-5 different sources of income, that is stretching the system too thin, if you mean stuff like 5 different stocks that works but if you mean something like stocks plus crypto plus 3 more things than you are really thinking people have enough money to actually invest into 5 different things.
One of the problems of our generation is that we barely have enough money to live as it is. For example I have to keep working tirelessly just to make ends meet and I have barely have enough money to invest into bitcoin which I know will not any different, I need to see bitcoin go to a million dollars to maybe have a chance to buy a house to begin with. So, saving and investing is not an option for many of us let alone invest into 5 different sources of income.
That is the problem if you can't manage to make cash flow from many side and if you can't even save any money by working hard then you need to change your activity by understanding What is liability and asset then only you can save money and then can reinvest those savings onto something else to create more opportunity of making money.One of the problems of our generation is that we barely have enough money to live as it is. For example I have to keep working tirelessly just to make ends meet and I have barely have enough money to invest into bitcoin which I know will not any different, I need to see bitcoin go to a million dollars to maybe have a chance to buy a house to begin with. So, saving and investing is not an option for many of us let alone invest into 5 different sources of income.
I mean the girl on the right wearing glasses and camo monokini..
