Asslamoalekum and hello to my #leofinance community. Welcome to another blog. I hope you are all doing well. I am also doing pretty well.
In this post Ibwill talk about a secret of being wealthy. Money is need of every person but unfortunately most of us don't know the art of earning easy money. If we want to be rich and financially free we have to follow this amazing rule. It is a very simple rule and everyone can follow it easily. Let's discuss it.
Quit the bad habit of showing off others Most of us live their life to show off others. They buy lots of those things that actually they don't need. They only spend money on these things to show others. Show off has become a fatal disease of our society. Look if you have a little car like mehran, Alto, Mira etc here in Pakistan but you still spend lots of money to buy a expensive vehicle like surf, land cruiser etc to show others then you are not living life for yourself, you are living life for others. So if you want to be rich and wealthy, quit this bad habit of showing off others.
Spend on Assets rather than Liabilities
Unfortunately most of us spend lots of money on buying liabilities. For example if a man has 20 lac in his account or pocket and this is the only money that he has in his account but he buys a luxury item like a vehicle for him. So this vehicle will become liability for him because it will suck your pocket in the form of fuel. On the other hand if you buy an asset like a plot or gold for this 20 lac, it will give you a handsome passive income to you. So spending on asset instead of liabilities is really a great idea.
Save before Spend Saving before spending is another secret of being rich and healthy. So if you earn 1 lac per month then first you save at least twenty or thirty percent of this amount and then spend remaining amount to meet your basic needs.
This is all from today's post. If you have any suggestion do sagre in the comments section below. I hope you wilk like this post. Thank you so much for stopping by. Have a great weekend ahead. Stay blessed. ALLAH Hafiz.
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