Hello there again my fellow steemian!
I am more than happy in sharing and writing these for you. I am so glad that we are now in the third part.
For the first time readers of this series, hello and thanks for dropping by! FYI, this series is my contribution together with @smaeunabs and @jcvertucio in spreading financial awareness. We are already in the third part. If you haven't read the preceding parts, please refer to the following:
âŞď¸Part 1 of 7
âŞď¸Part 2 of 7
In relation to the second cure, @smaeunabs has this interesting #budgetchallenge for you to start with. So, I really encourage you guys to join! This is not for us to know how you budget, but rather it is for us to help you take budgeting seriously. It can be also an avenue for us to learn more effective ways to budget our money through your entries. đ
Well, if ever this challenge does not interest you. It is still okay. This is not compulsory. It is still up to you. đ
Moving forward, I know guys that it takes a lot of sacrifice to be able to apply cure 1 & 2. But let me remind you, you have all your time to improve. If ever you haven't done it right the first time, forgive yourself and continue to start again.
Our biggest enemy is the other personality that is trapped in the same body who at the same time wanted to have financial freedom. Even I myself, is also a student of these things that I am sharing to you. But you know what keeps me in believing these cures? It is the fact that, it has already transformed a lot of successful people from the generation ahead of us in their financial aspect since this book was published in 1962.
"Behold thy lean purse is fattening! Thou hast disciplined thyself to leave therein one-tenth of all thou earneth. Thou hast controlled thy expenditures to protect thy growing treasure. Next, we will consider means to put thy treasure to labor and to increase." - Arkad
So let me continue to share to you the Third of the SEVEN cures of a lean purse:
âŞď¸Make thy gold multiply
Put each coin to laboring that it may reproduce its kind even as the flocks of the field and help bring to thee income, a stream of wealth that shall flow constantly into thy purse.
This is where investing comes in. If we have already accumulated funds from constantly keeping a portion of our earnings, then we'll have the money to start investing with. It doesn't have to be a big investment to start.
Gold (money) is an honest and diligent servant. It can increase infinitely if put in a profitable investment because of compound interest.
As what Albert Einstein said,
"Compound interest is the eigth wonder of the world. He who understands it, earns it. He who doesn't, pays it."
Investments come in different kinds. The choice to which will you invest is yours to decide.
But the most profitable investment you could ever invest, is to invest in yourself. And invest your time.
In my future posts, I will be tackling also the kinds of investment vehicles available for us Filipinos here in the Philippines.
Disclaimer: Me sharing to you these doesn't mean that I have successfully followed it all, but I am applying it. Well, it doesn't work over night and it won't. It entails sacrifice and discipline. Believing and following these are all up to you.
If you find something wrong with my post, please feel free to correct me. I am very open for suggestions and other reactions that would help me improve my posts. Thank you.
Thank you so much for following this series! Keep posted for the next one! đ