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Question asked on Musing.io by ensshkrt

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· @ensshkrt ·
Question asked on Musing.io
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properties (23)
authorensshkrt
permlinkpkhwfn4jw
categorymusing-threads
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vote details (4)
@donaldsteem ·
Question answered on Musing.io
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properties (23)
authordonaldsteem
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json_metadata"{"app":"musing/1.1","appTags":["free","finance","money","economy",""],"appCategory":"free","appTitle":"What are your top 5 rules for being financially free?","appBody":"<p>1. Buy assets not liabilities</p><p>2. On your income, save before you spend. </p><p>3. On any income, pay yourself first</p><p>4. Don't buy things you don't need.</p><p>5. Invest in profitable investments</p>","appDepth":2,"appParentPermlink":"pkhwfn4jw","appParentAuthor":"ensshkrt","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
created2018-12-22 10:30:45
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vote details (3)
@donaldsteem ·
$0.24
Question answered on Musing.io
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properties (23)
authordonaldsteem
permlinkp3yvzunjq
categorymusing-threads
json_metadata"{"app":"musing/1.1","appTags":["free","finance","money","economy",""],"appCategory":"free","appTitle":"What are your top 5 rules for being financially free?","appBody":"<p>1. Buy assets not liabilities</p><p>2. On your income, save before you spend. </p><p>3. On any income, pay yourself first</p><p>4. Don't buy things you don't need.</p><p>5. Invest in profitable investments</p>","appDepth":2,"appParentPermlink":"pkhwfn4jw","appParentAuthor":"ensshkrt","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
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vote details (4)
@libert · (edited)
$0.65
What are your top 5 rules for being financially free?
<a href="https://musing.io/q/ensshkrt/pkhwfn4jw">View this answer on Musing.io</a><br />
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properties (23)
authorlibert
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json_metadata"{"app":"musing/1.1","appTags":["free","finance","money","economy",""],"appCategory":"free","appTitle":"What are your top 5 rules for being financially free?","appBody":"<p>Here are some I learned so far.</p>\n<p><strong>Have assets that generates you money while you sleep</strong></p>\n<p>As the Warren Buffett quote goes : “If you don't find a way to make money while you sleep, you will work until you die.”</p>\n<p>For example, rent your house to generate extra income. In crypto currency world, rent your steem power to generate extra income.</p>\n<p>Passive crypto income ideas: https://medium.com/datadriveninvestor/passive-income-with-crypto-89a212c2b306</p>\n<p><strong>Don't buy/invest in things that decreases value over time</strong></p>\n<p>Like that Car, Motorcycle, that new ultra HD TV. These things decreases in value from the moment you buy.</p>\n<p>If you are really fond of these pleasures, then generate regular passive income first then buy the pleasures with it.</p>\n<p><strong>Don't invest in things you don't know</strong></p>\n<p>Remember, the guys who invested in BTC last year thinking 'Sky is the limit'.</p>\n<p>Always do your own research, invest then learn from it.</p>\n<p><strong>Give people what they need</strong></p>\n<p>This kind of businesses automatically flowers since there is already a need for it.</p>\n<p>There is no grocery shop in your area? Open one, people will come to your instead going mile away.</p>\n<p><strong>Walk/Use bicycle for short commute&nbsp;</strong></p>\n<p>Saves you fuel, plus keeps you healthy.</p>\n<p>Hope this helps :)</p>","appDepth":2,"appParentPermlink":"pkhwfn4jw","appParentAuthor":"ensshkrt","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
created2018-12-22 03:38:09
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vote details (5)
@luueetang ·
$0.66
Question answered on Musing.io
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properties (23)
authorluueetang
permlinkpky8b3njq
categorymusing-threads
json_metadata"{"app":"musing/1.1","appTags":["free","finance","money","economy",""],"appCategory":"free","appTitle":"What are your top 5 rules for being financially free?","appBody":"<p>The most important first rule is to never spend on unwanted things. Usually there is a joy of spending to buy something impulsively for a while then after that our happiness towards an item slowly falls after we buy the item. Then it becomes trash some day. I have been recycling and clearing out this year and found a lot of items bought but never used or even used for a while and thrown away. It is important to not just buy items that would one day be thrown away.</p><p>The next rule I follow is never compare with others. There are others who seem to be really wealthy and usually would make us feel slightly jealous. It is just a feeling and at a lot of times, these people are actually just well presented on the outside but don't even feel happy on the inside. If we compare with others, we won't feel happy as we constantly see someone being better off as compared to us. Having this rule would save us lots of money because if we don't compare we would not spend to want to be showing off. </p><p>No credit card rule. This is really portant as credit cards is the card that makes us spend alot and impulsively using the money that we don't have. This can lead someone to have the habit to take on more debt and once debt increases, the interest payments also increases. Some of us get so addicted to spending using credit cards that it's enjoyable to do it. </p><p>Earn more by reading more and adding one more skills as it is important to make sure that we can at least be on par with the current demands of the job or gig that is available in the market at the moment. The more income we have, the more we can be able to save and invest and the nearer we are to be financially free. </p>","appDepth":2,"appParentPermlink":"pkhwfn4jw","appParentAuthor":"ensshkrt","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
created2018-12-22 02:02:30
last_update2018-12-22 02:02:30
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vote details (12)
@maruwa ·
$0.70
Question answered on Musing.io
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properties (23)
authormaruwa
permlinkf3qgm5njq
categorymusing-threads
json_metadata"{"app":"musing/1.1","appTags":["free","finance","money","economy",""],"appCategory":"free","appTitle":"What are your top 5 rules for being financially free?","appBody":"<p>1. Never spend more than you make, ever. </p><p>When I was youthful, I began doing some odd occupations to gain cash past my pitiful stipend. Minutes subsequent to acquiring my first pay, my mom ensured she counted on me to open my bank account. </p><p>After some years later,my first priority is still to set something beside each paycheck and convey short of what I acquire. Obviously, life being what it will be, it hasn't generally played out as expected. Be that as it may, when all is said in done, getting more extravagant consistently is as straightforward as spending short of what you make and getting poorer is as basic as spending more than you make. </p><p>2. Keep away from obligation at all costs. </p><p>A great many people treat obligation as though it's a typical piece of life. They isolate it into classifications like \"great obligation\" and \"terrible obligation.\" They talk about it interminably, as though it's some numerical puzzle. </p><p>Obligation's not convoluted. Paying cash to incidentally utilize other individuals' makes you poorer. Charging cash to briefly give other individuals a chance to utilize yours makes you more extravagant. </p><p>Since paying premium makes you poorer, you just do it two circumstances: first, when you need to so as to endure; second, when you'll gain more on what you're financing than what you'll pay to fund it. </p><p>Except if acquiring is eventually going to make you more extravagant, don't do it. </p><p>3. Purchase when everybody is going nuts and move when everybody supposes they can't lose. </p><p>Rich individuals ring the enlist when the economy is blasting, however that is not when they made their riches. You get more extravagant by contributing when no one else will: when joblessness is high, the market is failing, everyone's going nuts, and there's only dread and wretchedness seemingly within easy reach. </p><p>The repeating idea of our economy everything except guarantees terrible occasions will intermittently happen, and human instinct everything except guarantees that when awful occasions occur, a great many people will solidify like a deer in the headlights. Be that as it may, it's downturns that are the time you've been putting something aside for. </p><p>In the event that you think the world is really finishing, purchase canned sustenance and a shotgun. If not, venture up. As very rich person financial specialist Warren Buffett broadly exhorted, \"Be frightful when others are covetous and avaricious when others are dreadful.\" </p><p>4. You can either look rich or be rich, however you most likely won't live sufficiently long to achieve both. </p><p>When I as filled in as a Wall Street speculation consultant, I immediately discovered that individuals who have huge amounts of cash regularly don't seem as though it. They don't need to. So who are the big cheeses wearing the extravagant suits and driving the Porsches? Regularly the general population bring home the bacon pitching stuff to the rich individuals. </p><p>I can't recall the last time I wore an extravagant suit. I've never possessed another vehicle, and I live in a house that is worth about 33% of what I could manage. </p><p>Redirecting your investable money into things like autos, apparel, get-aways and houses you can't manage the cost of will make you look rich currently, yet keep you from really getting to be rich later. </p><p>5. Live like you'll bite the dust tomorrow, yet ensure you invest like you'll live until the end of time. </p><p>You ought to dependably endeavor to get as much out of life as you can every single day. All things considered, you could kick the bucket tomorrow. </p><p>In any case, listen to this: You most likely won't. Set something aside so you can keep splashing up what life brings to the table for whatever length of time that conceivable.</p>","appDepth":2,"appParentPermlink":"pkhwfn4jw","appParentAuthor":"ensshkrt","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
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vote details (5)