Tuesday, March 27, 2007

Make Money: One of Two Options

If you are thinking of having more money than you do now, then the quickest way to go about it is not by getting another job but by managing your current finances better.

Anyone interested in making and having money needs to know the two options available. The first is to increase your income, while the second option is to cut down on your costs (living expenses). While both result in greater disposable income, one can be started immediately - the latter.

You might like to know if you are currently earning £25000 or more, in your lifetime over a million pounds will pass through your hands. A lot of money you would agree. The question is how much of that money will stay in your possession.

Take a good look at your bank statement the next time you receive it, notice how much money has gone through your bank account already. Take note also of the credit and debit column and the figure at the very top or bottom showing your account balance - the money left in your account.

Will your debit column consist of necessities or liabilities? What will the numbers reveal? That you have been spending just about everything you earn, leaving yourself with little or no money at the end of each month.

Or would you say you are amongst the small group of people who know how to keep some of the million pounds flowing through their hands. The group of people who apart from saving some of their money also make their money grow.

When money is limited, people always think of finding a high paying job, forgetting that a lot of money already flows through their hands. They also forget or more appropriate, fail to realise having more money is not the issue but rather the problem is keeping a lid on the ever-growing expenses and possessions.

By focusing on lifestyle, spending money on all the stuff our culture produces, you are knowingly working to keep yourself poor. The reality is that there will always be more stuff you can add to your possessions, and if all you do is buy every new gadget going, then having no money should be expected.

However, if you can learn to control your appetite, spend considerable less than you earn, you will have money left over. Get the saved money to work at a good rate and you can be sure of having more money than ever before. It really is that simple.

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