Maximizing your income: Tips for boosting financial independence.
The sound of the word money makes many people shiver, to some money is the most important thing in their life and they feel incomplete without it. Money is a universal currency only the name, value, color, and country being spent are different. As naira is being spent in Nigeria, whoever traveled from another country down to Nigeria will have to spend naira because that is what is acceptable here.
Money is easy to spend but very difficult to get, a wise man once told me "You will cherish the money you worked hard to get more than the ones you got through illegal means or the ones you receive as a gift" and as I grow old I began to understand what he meant. Spending lavishly without direction only drives one into debt, it opens door to unnecessary risks.
There are ways we can maximize our income and boost our financial independence. Our mentality about financial management goes a long way in bringing us out of financial instability but it's so disheartening that many people neglect this part and focus more on other things which aren't beneficial to improving their financial status.
Working has to do with financial independence, an idle person who doesn't have any source of income cannot boastfully say he or she is financially okay. Getting better at what you do for a living can pave the way out of poverty, and creating a new way to present your services more than others will make you unique. The more indispensable you are, the more your talent will be in demand.
Having a side hustle isn't bad, take up a side gig that won't affect your job if you are an employee, this will allow you to have a running and steady income. Build yourself multiple passive income streams, boosting your income will make a lot of difference in your financial status. Having more knowledge about little things can make a big difference in your financial life, have the passion to know more learning never ends.
Acquiring wealth is an individual choice, which is why it is an individual responsibility to either be financially independent or remain in poverty. Cutting your coat according to your size plays an important role in financial independence which is, spending according to your income. Don't take up responsibilities higher than your income rate which will later run you into debt and create an unnecessary phobia when the debt is accumulating.
I remembered when I started my clothing business not long after I was introduced to Hive and I had to adjust myself to fit into my new lifestyle as a student, an employee, an entrepreneur, and a writer. Many see me as an unserious person while some call me "a jack of all trades" but in the long run, I have never been stranded financially because I put my income to good use.
To put your income to good use, know what you want, invest more and spend less, track your spending, and most importantly stay out of debt.
Thanks for your time on my blog.