Having A Sustainable View Of Finance

Being an adult, I have come to realise that having a strong sustainable source of income is the key to happy financial living. When you have a sustainable source of income, you don’t have to worry about the future, you don’t have to worry about when you would pay your next rent, when you would buy groceries, as a matter of fact, you can do things confidently because you know that at the end of the day, your sustainable means of income got you covered. You could lose a huge amount of money right now but won’t be scared because your source of income got you covered. when you have a sustainable source of income you can afford to take as much risk as possible, because you have a safety net that can always catch you when you fall. So this should be the goal, this is why it is advisable to avoid get rich quick scheme.

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One way to break a man is cut their source of income, when you hear that some one went from being a millionaire to being broke, most times it doesn’t mean that their whole account got swept, it means that they lost the means they use in accumulating that wealth. For instance, if you have a source of income that helps you make over $100k yearly, then gives you the opportunity to save about $30k yearly, if you lose that source of income, its just a matter of time before you start touching your savings and run it dry. Except you are lucky to find a new source of income before it runs dry. Having multiple sources of income is what everyone would advice you to do, but will fail to let you know the challenges involved in doing that. From my little experience in making money and having financial goals, my little cent of advice is building and focusing on one at the beginning, make sure that one is firm enough to be your safety net, after building it, you can then look for another source of income. Because you have built one to be really strong and firm, it would help you make money effortlessly even when you are asleep. Then you can focus on another source of income and pay attention to this new source of income. Make mistakes, learn from them, work hard and make sure you try your best. If it doesn’t work out, its also okay to give up.

Giving up makes you sound weak but sometimes we need to learn that giving up is one of the bravest things to do, the journey of having a sustainable means of income that will have longevity is very tough and not easy, takes a lot of building consistently and most importantly takes a lot of making mistakes to achieve that too. The pressure of wanting to attain financial stability so fast is also a huge problem because you end up not being grateful for your little wins.

Posted Using LeoFinance Alpha