The golden rule for a happy financial life

The golden rule for a happy financial life has always remained unchanged for centuries: spend less than you earn and then all peace of mind shall be added unto you. Sounds so simple and yet requires a lot of discipline. The bottom line is that you can do it but you have to make that decision now —if you are not already applying it.

This happy life entails earning more and spending less. So first, increase your earnings. You see, increasing your earnings gives you more money with which to get rid of your debts, save for your big dreams, and build a foundation for whatever future you may want to have. There are countless ways to earn more money, but there are several tactics almost anyone can apply in their life. Here are some five key ways to get started in increasing your income.

First, don’t waste time when you are at work. The time you spend sitting idle, browsing the web, or on Facebook or WhatsApp or Twitter engaging in unproductive chats with your buddies is time you may regret losing later. Instead, invest that time in something devoted to your career, even if it’s not directly on a work project. This will bring you more money and happiness later. There are lots of things you can always be working on. Remember time in one resource that is non-renewable—the minute you lose now, is forever lost!

Second, work on your transferable soft skills. I’m a big believer in transferable skills—skills that one can utilise in almost any career path. Work on mastering such skills. Jump on any and all opportunities to speak in public. Hammer out an effective time management scheme for you—always prioritise your activities. Get into a routine of organising and filing your paperwork. Brainstorm ideas for things going on in your office. Write clear documentation for the standard procedures of your work. Volunteer to take up tasks at your work place when you seem to have free time instead of cerebrating that you have nothing to do. All of these things push you towards developing soft skills that are genuinely useful no matter where you are heading in life.

Third, build strong relationships with as many people as you can in your field. Join professional Associations to start networking with people in your career. Send emails to people you have interacted with a lot in your career and keep up with what they are doing. If you have an opportunity to connect people that can help each other, do it immediately, without hesitation. Share what you know and be valuable to others.

Fourth, start a side business. Devote serious time and effort to turning a passion you have into a money-making enterprise. Just look around you and see how that neighbor of yours is prospering (I mean those using legal means). There are just so many pieces of businesses you could do. Don’t be shy, ask them how they are managing. For me, my passion for writing earns me something.

Finally, step up to the plate at work in little ways. There are lots of simple ways to stand out. Show empathy for the problems that others have. Take on only projects you can handle, but do them well. If you are a manager, get to know the support staff— and treat them well. Don’t burn bridges when you move on—make an extra effort to maintain good relationships when you leave. These little things add up to a huge difference. A difference that can help you earn more later. 

A blessed week-end to you and yours as your mind gets troubled on the progress you are making in creating more wealth around you so you can have more leverage in spending less than you earn!