11 Tips To Help Improve Your Personal Finance

Flavian Mwasi  an entrepreneur, ebusiness coach, mentor, and author of “WIRED For Success”, and “Naked Quotes — A collection of Selected Life Quotes”. Gives tip on how to improve personal finance

1. Money doesn’t follow money. That’s the big lie you’ve been told. Money follows energy. Energy is the effort you put into attracting money. Problem is that money doesn’t come by finding it—it comes by exchanging it with value.
2. Money is the effect—not the cause. Mind is the cause. If you get the mind right, money will follow like flies to a carcass.
3. Nobody is born with financial education. School makes it worse by training you how to best work for someone else and make them rich, by killing your dreams and reducing opportunities that come your way into mere luck. Problem is, by the time you realize what’s happening, you’re up to your neck deep into not believing in yourself.
4. Money doesn’t increase by saving it. Money increases by investing it. The problem is that banks want you to save money so that they can make a huge profit by investing it while it costs them little to nothing. Actually, they have a term for it — they call it ‘cheap money’. What most people don’t know is that they can invest in the same investment vehicles bank use, and probably make the same or more money than the banks make, just by taking a short financial management course.
5. You become a money magnet when you master a rare skill that most people don’t have. Teaching yourself a skill is not a waste of time—it is investing in yourself, and the rare the skill the more the money it can attract. Investing in yourself is the best investment you can make.
6. When you become a money magnet, people will give you money even before you perform a service because they know that you’re good at it. Effectively, they’ll book you in advance, until you reach a point of turning them down or turning them over to other people to perform the service. At this point you can essentially hire other people to work for you.
7. Essentially, making money while you sleep is an old fad. It simply means hiring other people or computers to work for you while you take a nap. What nobody tells you is that, the techniques and systems to accomplish this are very costly to set-up and maintain, because this involves resources and many years of training on how to manage people, money and machines. The truth is that nobody really sleeps because the more money you have, the less sleep you get.
8. The reason only a few people have plenty of money while the majority of people can’t make ends meet is not because most people don’t work hard. Hard work is essential for success. However only a few people have mastered how to convert ‘hard work’ to ‘smart work’.
9. Mastering money doesn’t make you rich. Mastering self-discipline about money can make you rich.
10. Leverage is a big word in financial circles. Although the meaning can be as complex as you want it to get, in simple terms, it is a way to lift heavy weights with little effort. In financial terms, it is the opportunity to use little financial resources to participate in the big league.
11. The best time to learn about money is when you don’t have it, since you have nothing to lose and plenty of time to study. There are plenty of free courses to learn about money, investing, and attracting money. However, there’s very little time to invest the money because somehow, money is tied with time.