|Vista Land`s Financial Awareness Seminar: 5 Important Lessons by The Graceful Mist - Picture (www.TheGracefulMist.com)|
1.) Live Simply and Wisely
Don`t do things out of the want to boast. Do things because they are necessary. When deciding, look and think for the long-term consequences of each purchase and expense. Educate yourself and gain wisdom. Gain the necessary knowledge to move forward for a better life and live by the words of proverbs.
2.) Create a Personal Income Statement
Financial statements are the documents that investors look into to see whether a company is worth something. They help the management see the over-all allocation of their funds and create decisions that will help better the company`s financial standing. Creating a personal income statement will help you manage your finances better because you`ll be able to have an over-all view of your gross income, expenses and net income and assets and liabilities. Just like the management of a company, a financial statement of your own finances will aid you to create decisions regarding what to do and where to allot your money for a better financial status.
3.) Turn Temporary Income to Permanent
Temporary income is usually the salary of being an employee of a company. If at some point, something unfortunate happens and you lose this temporary income, you`ll be left with no income. This is why it`s important to invest your assets that will yield permanent income.
4.) Prioritize Investments that will Yield Income
Many people dream of immediately having their own dream house which at most times, cost as high as can be afforded. In reality, such investment is better left fulfilled later on in life when permanent income is enough and stable. Instead of buying high-priced investments like house and lots only to be occupied or abandoned, prioritizing investments that will yield permanent income will help you to gain more assets to turn into permanent income again. As your assets and permanent income increases, the easier it is to gain and invest more. This will allow you to have a more abundant and stable income in life which in turn will help you buy the things you dream of like a huge house and lot while still having great earnings
5.) As Age Increases, Opportunities Decrease
There are many exceptions to this. However, as a person gets older, the job or financial opportunities for him may decrease. It could be because of age, health or capacity restrictions. With real estate, the earlier a person invests, the higher his chances are of earning more because values of properties usually increase. Start investing and making wise financial decisions as soon as you can and don`t waste time.
"Let no man despise thy youth; but be thou an example of the believers, in word, in conversation, in (cont) https://t.co/2VuSaaaqoc— The Graceful Mist (@TheGracefulMist) June 19, 2016
The seminar was engaging. I was asked questions and I asked questions. Despite being only 18, I wasn`t belittled but rather encouraged. They encouraged starting young and doing something now to have a better future. Even though I can`t invest now due to financial restrictions, I can hope and anticipate for the future. Just like what I`ve learned in the first lesson above, gaining knowledge now will help me make wise decisions that will prevent me from making unnecessary troubles. Whether you`re a young person like me or not, it`s significant to realize and remember that regardless of the past, you can still make wise decisions today.
Will you be interested in attending a financial awareness seminar? What did you learn in this post? Share your thoughts in the comments` section below.
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