Here are the truths that can set you on the path to financial Freedom:
1.) DEVELOP AN UNDERSTANDING OF THE POWER OF SMALL AMOUNTS
- The biggest mistake most people make is that they think they have to start like napoleon with an entire army(CHARGE!!!!!). They suffer from the "not enough" mentality, that if they aren't making thousand-dollar investments at a time, they will never become rich. What this people don't realise is that the entire armies are built one soldier, one tank, one heli at a time, so it's goes same to the financial arsenal.
-There is a true story happened in US- A women who worked as a dishwasher and made her purses out of used liquid detergent bottles. Not sure if I can call her insane? She invested and saved everything she had despite it never being more than a few dollars at a time. Believe it or not, now her portfolio is worth millions of dollars, all of which was build upon small investments. Of course, hahaha! I am not suggesting to become this frugal but the lesson is still a valuable one right? Do not despise the day of small beginnings!
2.) WITH EACH DOLLAR YOU SAVE, YOU ARE BUYING YOURSELF FREEDOM
- Like I myself always to, I always introduce my friend a song, highway to hell. Yeah, I know this is somewhat the "satanic" song but who cares as long as it sound nice to me XD. Anyway, as contrast, each dollar you save, you are building the road, the highway to yourself in any form of freedom. The song highway to hell says that there is a one way ticket, one way ride. In our life, we are riding a one way ticket too. We can never turn back in time right? That's why, a small amount that you placed in (no matter where it is, as long it's a saving), you can make a huge difference in a long run. Since money has the ability to work in your place, the more of it you emply, the faster and larger it will grow. Along with more money comes more freedom. If from now on, you have any source of income, it is possible for you to start building wealth today. It may only be ten or 20 buck at a time, but each of those investments is a stone in the foundation of your financial freedom.
3.) YOU ARE RESPONSIBLE FOR WHERE YOU ARE IN YOUR LIFE
- A story from the author (this story are very common among us all, ask yourself): Years ago, a friend told me she didn't want to invest in stocks because she "didn't want to wait ten years to be rich" and would rather enjoy her money now, and by any chances if she earn an bigger sum one day, only then the investment bring the so called growth "effect". The folly with this school of thinking is that the odds are, you are going to be alive in ten years. The question ism whether or not you will be better off when you arrive there. Where you are right now is the sum of the decisions you have made in the past. Why not you set the stage for your life in the future right now since are right here right now.
4.) INSTEAD OF BUYING THE PRODUCT... BUY THE FREAKING STOCK!
- Let me tell some of my own story before I plug in the fact that i have read from the article. Let me kindly ask, did anyone of you buy gold made accessories so often and wear all over your body so often? Or did any of the elder bought it just to keep it? the answer is ? NO? YES?...it's NO! But how come there is still people trades gold and silver, just like an financial instrument? because there are people who need it, just that in this case, not you. So? see what I mean? link this to my sub topic here.
- Story from the author: Someone once asked me why they weren't wealthy. They always felt like they were putting money aside, yet never seemed to get any further ahead. The answer was simple; I told them to stop buying the products companies sell and start buying the company itself! A survey of America's affluent revealed that almost 30% of all the income the wealthy earned went into investments and saving. That isn't a result of being rich, THAT IS WHY THEY ARE RICH!. When the pain of getting out of the bondage of financial slavery is greater than the pain of changing your spending habits, you will become rich. Either change or be content to live as you are.
5.) UNLESS YOUR PARENTS WERE WEALTHY, DON'T DO WHAT THEY DID
- This phase here is not to offend or disrespect but this is fact.
- The definition of insanity is doing the same thing over and over again expecting a different result. If your parents weren't living the life you want or you expect to have, then don't do what they did! You must break away from the mentality of past generations if you want to have a different lifestyle than they had.
- To achieve the financial freedom and success that your family may or may not have had, you have to do two things. First, make a firm commitment to get out of debt. Second, make saving and investing the highest financial priority in your life.
- The all-in-one technique: THE FIRST THING TO DO IS, YOU PAY YOURSELF.
6.) STUDY AND ADMIRE SUCCESS AND THOSE WHO HAVE ACHIEVED IT... THEN EMULATE IT
-Again, before I start here, I want to tell some funny but very true fact. Ever use of PlayStation ONE emulator(CVGS) on your computer? or maybe Super Nentendo (SNES)? This is how computer emulate the console. Anyone who have experience this in their childhood know. Emulator start off buggy and laggy. Of course, the console is the best if you want to fully utilize it. You will think that, hmmm, Emulator will never override and pawn that bastard console, in this case you're wrong. Like I said, emulator update their version once awhile. Updating the bios they using, improving the graphic by newer driver coding, etc... at last, the EMULATOR can do more than the real console can do. The emulator can play in slower/faster fps, the emulator can save and load easily with a push of button, and even the emulator can save screenshot and record any scene you like. But the console itself, lack of the feature. All I want to say here is, mimic is not a bad thing at all and sometimes it is better.
- A very wise investor once said, to pick the traits you admire and dislike the most about your heroes, then do everything in your power to develop the traits you like and reject the ones you don't. Mould yourself into who you want to become and you'll find that by investing in yourself first, money will begin to flow into your life. Success and wealth beget success and wealth. You have to purchase your way into that cycle and you do so by building your army one soldier at a time and putting your money to work for you.
7.) DON'T WORRY
- Not much to comment about the fact that we are living in this wonderful world. The miracle of life is that it doesn't matter where you are but rather where you're going. Once you decide to take back control of your life by building up your net worth, don't give a second thought to the "what ifs'". Every moment that goes by, you grow closer and closer to your ultimate goal - Control and freedom.
- Every ringgit you spend, every penny that passes throught your hands is a seed to your financial future. Rest assured, if you are responsible, financial prosperity is an inevitability. The day will come when you make your last payment on your car, house, kid, and bla bla bla... my hobby...GUITAR. But until then, enjoy the process. Just the matter of fact, sooner or later.
8.) REALISE THAT MORE MONEY IS NOT THE ANSWER
- Ever being so committed into your own hobby? Cars modify, music playing, toy collection, and more.... Base on my personal experience, I am just crazy about guitar, ranged from classical, acoustic, to electric guitar. I am not a pro player but at least I enjoy what I am doing. The first day I start learning guitar with a pasar malam rm20 guitar. The next thing is my dad gave me a semi electric guitar and this is where I step into the world of electric and distortion. Sooner, I borrowed a cheap under rm500 copy strat. Half year later, I upgrade myself with an Ibanez GIO which is a rm1000 beginner above average guitar. Sadly it was stolen. Now I am playing with a guitar more than rm3000 in retail and i plug in a lot of upgrade which i hope how it sounds. My next dream guitar is Ibanez Steve Vai Jem, which cost around rm12,000 in Malaysia.
- Same goes to MONEY. Money is a magnifying glass; it will accelerate and bring to light your true habits but if you aren't capable of handling a job paying you rm30,000 a year, the worst possible thing that could happen to you is for you to earn six figures.
- Imagine, rm30,000 a year, you complaining that you got not enough money to use. What about rm100,000? Will it be enough? It will destroy you if you don't see how money works.
- Believe or not: the fact that rich people who earn more than six figure a year living from paycheck to paycheck and don't understand why it is happening. The problem isn't the size of their checkbook, it is the way in which they were taught to use money.
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