- Personal Finance
For the Love of Money - How to Accumulate More
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Every week day most of us wake up early in the morning, climb out of bed, and get ready to face that daily grind; just like we did yesterday, just like we will tomorrow; unless its Monday or Friday; of course. We do it to earn some of those bills that are made with linen and cotton mixed, printed with a multitude of ink colors ranging from green to black with the pictures of dead presidents on them. Its the almighty dollar that drives our hustle and bustle through the house, onto the street, and to the office; or where ever you work. I'm not sure what it is that drives those over achievers that find themselves addicted to their work, working far too many hours, while they accumulate a small stockpile of those bills. Maybe they just have that extra drive, maybe they are greedy, maybe their lucky, maybe they just have nothing better to do with their time. I don't know maybe; maybe they have an addiction. It's a good addiction, from the perspective of their bank account, but their personal life outside of work will suffer. So now; what about the guy (or person) who does all those things and is possibly addicted to their job as well, but they never seem to find that pot of gold at the end of the rainbow. Did they do something wrong, were they unlucky, did they just make bad decisions, who knows? Whatever the reason; even though they have worked very hard, been slaves to their jobs, and missed whatever portions of their personal lives that they didn't have time for; they still don't have anything to show for it. I wonder how many unlucky ones there are compared to those who were more fortunate. I could be wrong, and it might sound bad, but I'd like to think that there are a lot more of the cursed than there are of the blessed. If I'm right or not, there is still something wrong with the money flow, and it's not just these people either. Oh no, it's like this for everyone, no matter what kind of work ethic they have, there is a certain amount of uncertainty as to what their financial future looks like. I'll be the first to admit that we in America live in the place where our dreams are more likely to come true than in any other place. Though there are still many, whose fortunes are never found.
I think that in many cases those who do amass that fortune that is the envy to so many of those in similar situations, understood the mechanics of accumulation. They knew something or had an understanding of something that those in the reverse didn't know. Many if not all of those who didn't reach that pivotal point of accumulation probably could have if they had only made a few decisions slightly differently. Rather than a standstill or decline of wealth, they could have excelled just like those they find themselves in envy of. Those who enjoyed being lucky or who were greedy, or whatever I said earlier, had a plan that worked. There are two basic methods that I will identify, one being based on focus, and the other being based on diversity.
Method one consists of finding a talent and zooming in on that talent like it is your only talent. You have to focus on one basic skill and find a way to monopolize on it. I think there is a bit more luck to method one than there is to number two but if you follow through and don't loose hope you will certainly have a fighting chance.
Method two is to diversify your interests, lets face it most of us have more than one talent, so why can't we monopolize on those as well. Method two is kind of like a back up plan from my prospective, and deserves a bit more in-depth coverage. Those who use method two are likely already using method one, but are having a little less luck than others. That's where method two comes into play. You have to accumulate multiple ways to monopolize on multiple talents, thus creating multiple flows of income. You will still focus on your strengths, but learn to make more than one of them profitable.
A Few Ideas
OK, here a few ideas from me the author. First you need to be organized and have written goals. Always look for ways to increase your income and shrink your expenses. Keep a record of all of your ideas, if you can't realize them now maybe you can at some point in the future. Keep your priorities straight, and don't loose focus. Some examples of ways to increase your income would be to give guitar lessons, work on computers for people, run live sound for a band or two or a venue, Write on HubPages (I had to throw that in there). Whatever interests you and you have a decent level of skill in, can be turned into extra income on the side, especially if its a hobby that you would be involved in anyway. You might be able to evaluate your bills and minimize your expenses by shopping around for services. I mean all of your services that have any options, it never hurts to check. For example, your lights, heat, internet, phone, insurance, cable, or satellite may all be sources of lowering your output without affecting your lifestyle.
Good luck to you, thanks for reading, and have a wonderful day. Leave a comment if you'd like, I'd appreciate it.