We've all been offered advice and most have given it; it's quite normal and acceptable except when the advice is unsolicited and unwelcome. I'll usually hear someone out but a lot of the advice people give is not advice at all, just their opinion, which isn't always based on experience or fact, and those opinions may not be relevant or even helpful. Giving advice, or taking it, needs to be approached with caution and especially when it comes to financial matters.
One excellent piece of financial advice I heard and adopted some time ago was, create a single income source then use that to create more. It sounds quite obvious and simple but people forget about that last bit, the create more part, and that part can be incredibly difficult - that's why people avoid it I suppose.
I took this image
When I started my business I was so focused on getting it set up right, on building and shaping it, and through a lot of effort I managed to get it moving along nicely, but if a business isn't progressing it's going backwards because it's usually surrounded by business who move forward. Along the way, I remembered the advice I was given and began to introduce other streams of income that didn't necessarily steal time from my core business, add-on retail sales, personnel to expand services and man-hours (girl-hours actually) and before long I found I'd created an entire income source that was only very loosely driven by and dependent upon myself.
I was able to focus on deepening and strengthening my core business and to looking at yet more avenues of income like property for instance and I simply kept multiplying from there. It was not easy and took time but I felt my future financial security was worth the effort.
People like instant gratification so often when an income source is created work very hard at spending it on things that provide enjoyment and happiness, a sense of achievement, relevance and other such things, in the present moment, but they fail to think about the future; I don't mean everyone, just some. Financial success is about multiplication, taking that sole income source and creating a second and third until one has multiple sources of income providing a more secure present and future.
I believe life is something we should all enjoy in our own way provided that way doesn't disadvantage or harm others and money isn't always required to create that. However, for most people having financial matters under control, to be building and progressing rather than simply subsisting, is an important part of life and the best time to start that is now. Immediately.
No one is going to do this for us and financial security doesn't come by accident, it's created. By multiplying one income stream, developing more and more, while difficult, a person can build for their future and enjoy rewards along the way.
Becca 馃挆
