This may be a challenging question to answer but is your salary sustainable? Can you survive your financial struggles in life with the current income you are receiving? A lot of people depend on their salary alone. This is not a bad thing but you must use all the chances you can use in order to take advantage of the things that can make your money grow. Whether your salary is sustainable or not, look for other channels of income. Let your money grow not in your bank account but in investments, properties, and businesses. Use your money wisely.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.
Stock Smarts Manila – September 14, 15, 21, 22,&28, 2019
Stock Smarts Qatar — October 3 – 6, 2019
Stock Smarts Cebu – October 26-27,2019
Stock Smarts Taiwan – November 2, 2019
ICON Davao – November 30, 2019
Some days you will find yourself asking if you are earning the right amount. This is not just a matter of whether you are underpaid or overpaid with your current job. It is a question of whether you are getting enough amount of money with all the resources you have. So if you want to determine if your earnings are at the correct level, study the data you have and check all the assets you can use for profiting. For instance, checking to see if you are underpaid can be done by studying the industry you are currently in. Go online or ask around to check if there is significant variance. If there is, it’s time to hunt for a new role that can pay you with the level of professionalism you have.
Yes, it is important that you are aware of the assets you have because you can use this to profit more. Start listing all the assets you have regardless of whether they are appreciating or depreciating. Include your houses, cars, apartments, condo units, businesses, cash in bank, investments and the like. Next, cross out those that are for your personal use. If there are still assets left untouched, inspect if they are still in good condition. If there is a need to do repairs and maintenance, do not hesitate to bring your assets back in a good state especially if the value is still high.
Now the next step is to use all your available assets to earn money. If you have idle assets, now’s the time to turn it into money. You don’t actually have to sell your assets to make it cash. You can rent out your apartment or condo units and continue doing it until you recover the amount of cash you spent to acquire it. You can invest your cash in the bank into some investment portfolios like stocks, mutual funds, bonds, and commodities. You can even learn trading if you wish to be more interactive in the stock market. You can rent out your extra car on special occasions so you can have extra money with you. After doing this, re-evaluate your earnings. Try to see if it’s better than your first assessment.