Money Moves People Who Make Less Than $60,000/Year Should Make This Year

People who create real wealth see money differently from anyone else. They don't consider it something they "own." They see it as something they can install and use to develop and expand from.

As a result, I believe that it is not how much money you have, but what you do about it matters.

I know many people who make more money than I do, but they are in debt; they can't afford something they want, they can't save a single dollar per month, and they can't even save. However, I was able to do both of those tasks while making far less than they did.

Knowledge is more valuable than money. Skill is more valuable than circumstance.

Devidson. L

Having the right attitude and learning how to use your money wisely is much more important than just making a lot of money.

In his article These 5 Brutal Money Epiphanies Could Make You Millions, Anthony Moore reveals why ten million dollars would actually kill you right now:

One of the bitterest truths about money is that more money won't solve your problems. Actually, more money only magnifies your current habits. And if you have bad money habits, a lot of money could actually destroy you. Devidson. L

You can't hope to get more money when you make more if you don't know how to handle what you have now. For that reason, here are 5 money plays you can make if you raise less than $60,000 per year.

1. Create your own financial perspective.

Assume I am a specialist in credit card management. On the other hand, my friend Louis is not allowed to get more than one credit card with a $100 limit. Do you know what we both have in common? We've both saved the same amount of money.

Your desire to achieve financial independence would not be determined by a single piece of advice. While millionaires have similar routines, this does not mean that repeating the same steps will inevitably make you wealthy.

This is because we do not necessarily have the same potential to do the same things. Using a credit card fits well for me, but it does not work for you, because none of us can save $10,000.

If you want to start saving and earning extra income, start by creating your own perspective on finances that works perfectly for you, even if it is not what others are used to.

In the end, the outcome is more important than the process. If automated payments work for you, start using them; they don't for me, which is why I'm not using them. But I'm sure we'll get the same results.

"Never choose a process because it feels good, choose the process because you can achieve the outcome at the end."

- David O.

For this, I devised a financial strategy that fits well for me. In this way, I can save and spend my money without having to reflect the "mandatory."

You will do so by asking yourself the following questions:

How much money will I save if I don't skip any payments? This involves going out to eat with friends and doing something that you enjoy.

How much money can I spend, and how much chance am I able to take? Some individuals, for example, can take greater chances than others. Knowing it would allow you to determine what kinds of investments are more convenient for you to make.

What payments will I make with my credit card? If you aren't comfortable with them, don't use them, even if they are advantageous. No credit card discount is worth paying interest on if you don't know how to use it.

When you set your targets, make sure they are attainable. Unrealistic expectations will prevent you from making the best financial decisions in the future

2. Recognize and manage your lifestyle inflation.

If you have an infinite budget, it is important to consider the distinction between "needs" and "wants" to make better purchasing decisions.

The proper management of your lifestyle would help you to save more money while spending less. The only thing you need to do is identify the phantom costs in your paycheck and make adjustments to your lifestyle.

For example, in my article "5 Practical Ways to Save More Money Without a Salary Raise," I explain how to save money without trying to earn more money by making lifestyle changes:

Finding a way to grow what you already have, in mutual funds, stocks, or any other type of investment, goes according to the type of risk you want to take.

Cancel automatic subscriptions and memberships that you don't usually use. For example, some people pay for more than one streaming service per month, but it is better to pay Netflix for 3 months, watch all the series you want, and then pay Disney+ to watch another series. In this way, you can save more than $100 monthly.

Try annual subscriptions of services that you will actually use for a year. This includes work tools or things necessary that you use for personal health or well-being. If you pay the Disney + for one year, you will save 5% of that subscription. But if you only pay for 6 months to see only the series that interest you, you will save 50%.

Reduce energy costs by changing wasteful habits and buying green alternatives.

Try a cheaper alternative that is really worth it. That doesn't include cheaper shoes or old phones because in some case it's better something good that you can use for years than something cheaper that you have to replace it in three months.

Recognizing what those "ghost expenses" are will help you use that money for better things, such as changing the car, investing more, or having a better emergency fund.

3. Only say yes to opportunities that will move you closer to a life-changing scenario.

Not all chance is "life-changing." I can tell you a hundred ways to make thousands of dollars right now, but if you don't do your homework properly and invest in the time and effort required to achieve it, you won't make a dime.

This is because not everyone has the same ambitions or the same attitude when it comes to doing things. Many people are popular with cryptocurrencies, but I lack the patience and resources to devote to it, so I will not be as successful as they are.

When you have a chance, the first thing you can do is ask yourself if it will get you closer to your goals and if you have the right attitude to take advantage of them.

Since "good openings" are only really good if they align with what you wish to accomplish. If you do not intend to be a broker, a stock rising in value will not be a successful opportunity because that is not what you want to do, even if you take advantage of it.

You don't need a special talent to be successful at something. All you need is a proven idea that has worked well for others and then executes it with your personal touch.

Devidson. L

Following orders is the key to creating a profitable enterprise. There is no grit, hustle, or zeal. It would be good if you take all of the business training programs seriously and complete all of the steps without missing a single one.

However, you must have the right attitude and the time to do it. 

The only life-changing situation chance that can get you to where you want to go is one in which you can work hard.

Devidson. L

4. Start taking high risks with small investments.

I know people who spend $150 a month on coffee but are scared to invest the same amount in Bitcoin or the stock market because they "might ruin everything."

The value of deciding how much exposure you can take helps you to make small bets in risky markets without fear of losing money. You might make it seem as if you wasted $150 on a dinner party to forget about it.

When you know how much money you can lose, you can invest in a speculative commodity like Bitcoin. You may, for example, opt to buy just $50 in Bitcoin. This means you can reap the gains without exposing yourself to significant danger if the price of Bitcoin falls.

This advice allowed me to spend $100 on something I wasn't entirely positive about, and my money increased by 1000%. I was planning to spend this money on food or a game anyway, but I wanted to take a chance.

Sure, I might make more money, but I didn't want to spend any more. Taking huge chances with small investments helps me to not miss out on the opportunities to make the investments while still having a decent chance of earning a large sum of money.

5. Use your budget to measure performance instead of control your expenses.

Many people dislike budgeting because it makes them feel as if their money is just for those items and does not afford them the ability to buy anything they want.

However, a budget is more than just a way to set aside funds for a certain purpose and keep track of the spending. It also acts as a success indicator:

It's an indicator of the costs and revenues linked to each of your activities, so you can try different places. For example, knowing how much you can spend on a trip lets you know if you can go to another continent if you want.

It's a way of providing information and supporting management decisions throughout the year. Many people do not know that they have the ability to buy a car or a house because they do not know what their debt capacity is.

It also serves to monitor and control your investment capacity. If you analyze your income and expense data, you can know if you can start a business or invest in something risky.

You can not save a single dollar if you do not accept accountability for your financial activities, regardless of how much money you make.

Conclusion

Money and "financial freedom" are abilities.

Don't wish for more money; instead, work on being someone who can use the money you already have.

It is more important to start saving the first $100 than it is to start investing or saving for $10,000 because it is about building a routine and getting a start from what you will create.

If you can't do something with the income you have now, you probably won't be able to make something even though you have a position paying five times as well because it's all about attitude, not quantity.

This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.