4 principles of financial success

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

Many do not understand how finance works and continue to make money for the sake of money. Key principles of personal financial success will help you achieve wealth in the long term.

1. Earn money for a specific purpose

You must know why you need money before you have it. Money doesn’t bring happiness, it’s just more convenient with it. Successful people have very specific big goals. Making money is not an end in itself for them. For them, money is a tool.

No millionaire made money for money. Elon Musk invested the earned from PayPal in his own projects. If his goal were simply money, he would never be successful.

Perhaps right now you have no idea why you need money. As soon as it appears, your financial behavior and attitude towards money will change. If your goal is money, you feel greedy. Greed interferes with the movement of money, pushes them away.

2. Do not interfere with the free movement of money

Wealth is built on healthy circulation of money, not on savings. The more you have, the more you need to invest. This funding rule seems to have come from the world of sports. The more you eat, the more you have to move in order to get the best result. You eat, you exercise, you get better and stronger. When you save up and keep in reserve, parasites immediately pull up, sucking your energy and resources.

Be generous and invest in people and what you believe in. Do not close the door so that streams of wealth can circulate freely.

3. Invest in your values

There is nothing in the world that can exist independently, without investments, including money. Money rules the world, as sad as it sounds. If you don’t invest in what is dear to you, it will be done by someone else - a person or a company. The vacuum will be filled without fail.

In the 90s, the American chain Walmart bought goods in other countries and used cheap labor around the world. The company became wealthy, but potential customers in which Walmart did not invest gradually stopped buying, they simply had nothing to do with it. The company had to change.

Its competitor, Costco, did business on a different basis. The managers were attentive to both the employees and the company itself. Costco's attitude influenced the local community.

It's not about who is bad and who is good. Both models are strong, but only one of them correlates with the laws of conservation of energy. The laws of nature apply to everyone, whether he wants it or not.

Invest your soul and money in what you believe in and what is dear to you. You yourself create the environment and the world. Love and respect him, and he will respond in kind.

Time is a friend of the strong and an enemy of the weak.

Warren Buffett American entrepreneur, one of the richest people in the world

4. Work and believe in yourself

Financial success is not about bragging and posturing. These are not actions for the envy of others. These are not things imposed by advertising or someone else's opinion, not a choice "because everyone does it", not a life for the sake of idleness.

Financial success is the belief that you will definitely get everything you need. It is a belief in one's own strength and ability to get things done. You don't owe anyone, no one owes you. If you borrow money, it is only to increase your own financial efficiency and the ability to participate in the lives of other people.

We get what we have achieved ourselves. When you feel that success is not as close as it seemed, when you have to roll up your sleeves and work hard, you are on the right track.

Use all the chances that fate gives. Nobody will bring what they want on a platter.

Investing takes time, discipline and patience. It doesn't matter how great the talent or the effort. Some things take time. You cannot create a child in one month using nine pregnant women at once.

Warren Buffett American entrepreneur, one of the richest people in the world

In reality, it will take even more time. It will be harder than you thought. Don't stop, keep working on your skills and the reward will come.