The 4 Pillars of Financial Success
Financial success is not defined by how much money an individual has. Rather, it is where the money goes and how it is spent. The 4 Pillars of Financial Success act as a sturdy foundation that can support your money-spending habits. Whether or not you are planning to start a business, you should definitely keep these in mind:
1. Income – Before you can start building the other pillars and achieve financial stability, you need to earn money of course! There really is no limit on how much you can make because it is all about how you make it.
2. Savings – Now that you have money, what should you do next? Saving money is not just about starting a savings account, but that would be very helpful too. Still, saving money also includes wise budgeting and cutting down unnecessary expenses. It’s a small sacrifice to make but we can assure you that you would reap off the fruits of your strict saving habits sooner than later.
3. Investments – You can’t keep all that money stuck and unmoving in your pockets. It’s true that you have a steady source of income, but you also have to invest in other things for your future! For example, you can avail of a life and health insurance. Even better, you can invest and start your own business!
4. Spendings – Now is the time to reap what you sow! However, do not mistake this pillar as a go signal to splurge! After going through the 3 other pillars, see if you have enough money to spoil yourself. It’s your money, afterall, so go and enjoy it!
As you can observe, it’s a healthy cycle that ensures your are able to spend and enjoy your money wisely. Make sure to check on your pillars from time to time!