Making as much money as possible is the dream of many people. But doing that is not easy.
Experts have come up with easy-to-follow tips that will grow your bank account fast. The following 10 tips are divided into goals: earn more money, save more money, and invest smarter.
Earn more money
Tip 1: Ask for a raise. It's not easy, it's not easy to talk about, but negotiating your salary with your boss can yield surprising results.
Tip 2: Get promoted or change jobs. If a raise doesn’t come your way, keep an eye out for advancement opportunities. Look for opportunities to be compensated for your contributions to the company in a new or similar role.
Tip 3: Enjoy your full benefits. Many people do not know the benefits they are entitled to such as unemployment benefits, child support, etc.
Save more
Tip 4: Create a budget. Creating a budget is helpful because you will know exactly where your money is going and can plan your savings accordingly.
Tip 5: Save on daily expenses. “Little by little makes a lot”. Buy only what is necessary, especially do not “spend too much”. When shopping, bring a list of items to buy to avoid “impulsive” shopping.
Tip 6: Another way to save more is to get a moderate base salary and you can get more other benefits than you get a high fixed salary but no other benefits.
Tip 7: Reduce your debt. High interest rates will eat into your savings, so there’s no reason to pay back your debt. Think carefully before you borrow money and consider whether it’s worth paying a large amount of interest.
Tip 8: Using other people’s money. One of the best ways to invest is to use other people’s money. Borrowing money and investing it can bring you significant profits. However, it is also a double-edged sword, which can make you “lose both the lead and the net”. Many people have succeeded using this method, but it is also very risky.
Tip 9: Buy government bonds or life insurance. Many people are paid very high salaries. But even if you are not, you can still increase your pension. You must consider where to invest reasonably, both for yourself and for the country.
Tip 10: Reduce investment costs. When you decide where to invest your money, there are always ways to reduce investment costs. For example, investing with others to share the financial burden and reduce risks.
STVN
