If you want to live life rich, you need to make your money your best employee.
This means that you need to make your money make money for you.
My philosophy is to enslave no one, including yourself. Anytime you don’t have a say on the who, what, when, or where of your life, you’re enslaved to something and often that’s money. The way to combat this is to be its boss.
Being the boss of your money starts by avoiding the 4 common mistakes people make with their money. These mistakes are having no emergency fund, overusing your savings accounts, not investing, and not thinking long-term enough.
To go beyond just avoiding mistakes, you must take steps to make your money make money for you.
First, set up 3 buckets of money: short-term (what you will use in the next few years), intermediate (what you will spend in the next 2-5 years), and long-term (the money you’re saving for things like retirement and your kids’ education).
Secondly, do an employee evaluation with your money. In it, review the last year, see how things have changed in your world, and ask if you need to adjust those things.
The third step is to tell your money what to do. Speak out what you want.
Fourth, know the value of your money and know your why.
Finally, run your money like a boss. Look at your efficiencies and inefficiencies and cut those expenses.
I truly believe that you are going to wake up every day and you are going to have a plan. You’re going to work the plan and you’re going to get what you want. This is financial freedom and you will get there if you apply these principles.
If you want to learn more about how to make your money your best employee, check out https://marissanehlsen.com/llr020.
