“I want my money to be like a river, not like a pond.”– Lisa Sasevich, Inc. 500 business owner
I was not the same after reading this quote, I came across it randomly in a friend’s gallery and kept pondering on it. Financially, I was doing okay at that time, my savings were intact.
I was earning some average salary in rubles. My life was okay but I could never comfortably spend my money. I always wanted to save and keep for the future.
After reading this quote I thought to myself, instead of allowing my savings to sit without doing anything, I could invest or start a business with part of it.
That’s what I did and I have never regretted it. Of course, there have been hitches along. But it has been worth it in the end. The above quote lives rent-free in my head- ‘allow your money to flow’.
With all certainty, some people reading this blog post have some valuable amount of rubles or even dollars sitting in their account.
Accumulation is not the key to building wealth just like the quote implies, you want your money to flow and not be stagnant.
Money must move, and we all depend on cash flow to survive. Instead of accumulating and keeping what you have, releasing and investing it to get more returns is wiser. You’ve heard it said that “It doesn’t matter how much you make, only how much you KEEP.”
But the truth is, it doesn’t matter how much you make, how much you keep, or even how much you save– it only matters how much you can SPEND after you’ve earned and saved.
The danger of accumulating is that:
- You will always think the money is not enough- A lot of people rely on the theory of accumulation and disbursement, but when exactly is the money enough to disburse? You keep accumulating and waiting for the money to be ‘enough’ before spending but that in itself is the trap. Do you see the wahala?
- You might be scared to spend- Yes, it’s possible to be scared of spending one’s money, in a bid to accumulate wealth, and this is not wise at all, just like it said earlier what matters is how much you can SPEND after you’ve earned and saved.
If you’re saving for the future or accumulating for the later years, why not channel what you have into investments and strategies that have proven to generate wealth over the years? This would help increase your cash flow and also help you save. - It is not the most effective way of building wealth- It makes your money stagnant and ineffective. So what should you do?
USE YOUR MONEY!
- Invest in credible businesses- Both at home and abroad, there are a number of businesses you can venture into, you can have someone you really trust (emphasis on trust) to oversee the affairs, be open, and consult people with experience in these fields. This is a great way to generate income.
- Buy rental properties- The incredible thing about these properties is that, they appreciate in value, whether you lease them out on an agreement or you sell them, the profits to be made are quite enticing.
- Venture into agriculture- As they say, people must eat, the business of agriculture is forever timeless and although it has risks it is definitely worth considering.
- Identify the demand for products and services in your region and meet them– The list is endless of the things you can invest in and a great avenue to increase your returns. So instead of leaving the money to sit in your savings account, invest and make more.
By investing, you:
-Increase your cash flow
-Can get more assets
-Diversify your wealth into different assets and sectors.
You have no excuse,- here is definitely something for you out there. Speak to people, do your research, tread carefully, invest wisely, and watch your money flow!
Happy Sunday!
