DONT REDUCE EXPENSES ….DONT STOP YOURSELF FROM BECOMING RICH !!
My latest article in the Kannada Magazine PROFIT PLUS titled
DONT REDUCE EXPENSES…….DONT STOP YOURSELF FROM BECOMING RICH went viral within a couple of days it getting printed.
The headlines was curious and attractive enough.
But regular readers of mine already would be knowing what exactly I intend when I say DONT REDUCE EXPENSES.
A normal layman is always concerned about the costs and expenses.
Especially the day to day expenses.
Last month, it was about Onions touching Rs.100 per kg,
This month, its about Crude and consequently PETROL rising
and next month, he will be worried about the expenses he is going to have in form of Dasara and Deepavali.
Its essential that you need to COME OUT OF THE MINDSET OF always thinking of Expenses and rather divert it to the much more impactful INCREASING INCOME.
I always keep telling my investors that
“there is a limit to how much you can save on expenses….
But there is NO LIMIT to how much you can EARN!
If you ask, the majority will say “Expenses is in my hands but Income is not”
I would actually say BOTH INCOME AND EXPENSES IS IN YOUR HAND.
You just need to understand and focus your energies on both, especially INCOME.
By default, our genes, thinking, action, everything is focussed on HOW TO SAVE, HOW TO SAVE, HOW TO SAVE.
But, step back a little and think, if the same time, energy had been spent on HOW TO EARN, HOW TO EARN, HOW TO EARN, your life would have been a much much wealthier one.
That does not mean, be a spendthrift. Controlling expenses is the 1st step to getting your finances right. If you don’t know how to control your expense, you won’t be able to save.
Please note that I have used the word “Control” not “Cutting”.
Some would come running and say
“Hey Srikanth, I am a salaried. My income is FIXED. There is no way I can earn more”.
I would say “Why not? There is huge number of ways you can earn.
Why dont you do PART TIME job?
Why dont you do Tutions at home?
Why dont you do Tailoring at home?
Why dont you write articles during spare time?
Why dont you learn a new hobby (cake making, cloth bag making,etc) and start earning?
If the intent is there to LEARN AND EARN, the routes will AUTOMATICALLY open up.
Especially learning new things like Cloth Bag making may even open up loads of money to you.
In fact, I have seen some of investors actually resigning from their MAIN jobs and now doing full time business in what started as a Hobby for them.
And, they are earning MORE THAN WHAT THE SALARY THEY WOULD HAVE GOT.
So, it all boils down to FOCUSING ON EARNING MORE
I agree, that learning a new hobby/skill takes time and implementing it and making it successfully even more, but look at the reward you will get…..because once you are successful, mark my words, you will be achieving your goals much more earlier than you ever imagined.
Concentrate your energies and focus your expertise on Earnings.
Then, only then, you will become a Contented Man even while being a Common Man!
There is a LIMIT TO SAVING but THERE IS NO LIMIT TO EARNING.
WHAT ABOUT RISK IN BUSINESS??
Risk is something that can cause bankruptcy or severe loss of capital.
Hence its absolutely imperative that you have sufficient back-up before venturing out on your own.
HAVE A FOOL PROOF PLAN
You need to PLAN.
In fact, even in the Roman times, some intelligent Slaves would earn enough money to buy themselves freedom from slavery and even get slaves of their own!!
Learn to Earn
Earn to Learn.
Keep on adding skills to your Portfolio.
Then you will keep on increasing your income and no one can stop you from becoming RICH.
“Be an eagle who soars above the clouds so the rain clouds don’t deter him.”
All the best,
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