Our wallets. It is interesting how sometimes these little things are ruling our lives, our decisions and our behavior even though we are the ones who fill them up. But this is the reality. And in order to feel safe and comfortable we need to follow several simple rules so that our wallets have a lot of money inside of them.
1. Differentiate needs from wants.
2. Never shop for food hungry.
3. Never stop trying for something better.
4. Try your hardest in trading.
5. Never loan money.
6. Make sure that you financially independent.
1. Differentiate needs from wants.
This is the golden rule of spending and saving. We talked about it for several times already. We need to differentiate and divide purchasing the things that we need from purchasing the things that we merely want. This is not easy and of course it is going to rise a lot of difficult decisions and situations. But after all, this needs to be done if you want your wallet to always have money in it.
2. Never shop for food hungry.
Oh, you probably understand where this is going. When you are hungry, you are ready to eat everything you see. And you are probably going to buy that everything. The only problem is that when you are full, you might realize that half of the things your bought were not needed. As a result, you are either going to over-eat, or this food is going to get spoiled and thrown out. And that is just money down the drain.
Be sure not to make this mistake.
3. Never stop trying for something better.
We are often stuck in the low-paying job just because we think that we can’t get anything better or that we are already too old and rooted-down in the old place to look for something new. But that is now true. It is never too late to change the old ways and look for something new and better.
You put money into the equation and you got yourself a pretty sweet motivation too.
4. Try your hardest in trading.
90 percent of traders quit during their first several months. Or so they say, at least. Why? Because they thought that it is too hard or takes too much time. But in reality traders can make a lot of money in quite a short period of time [just look into our RESULTS tab]. That is why if you have already tried trading, you shouldn’t quit. Try your hardest to adjust to the new life, habits and time schedule and you may just come to the right conclusion – trading is interesting, stimulating and most of all – profitable.
Your wallet is going to love it.
5. Never loan money.
Here is a sure thing to never have enough money – loan it to someone else. Especially a family member. Be sure, you are never going to see this money ever again. Who returns their debts when it is family? No one. Make no-loan your own policy and you are never going to wonder where your money goes.
6. Make sure that you financially independent.
You should be the only one with the right to your wallet – that is the rule. Make sure that you and all of the members of your family are financially independent and if not, establish your independency. Without this you are never going to be the master of your own money.
I know, that this might seem ruthless and cruel, but it is what needs to be done, trust me. Of course, there are several cases when this rule needs to be bent, but overall in life financial independency is a must! You are the owner and master of your wallet – be sure to behave this way.
