Today you will get to know how to multiply money in order to achieve the necessary amount of it.
This article is about magic scraps of paper, which are the fetish for capitalists and the object of contempt for hippies. However, approximately two thirds of our fellow citizens consider money to be the most desired thing in the whole world!
Despite different attitude towards money, everybody will agree with me that life in modern world is impossible without it!
Smart people state that happiness depends not on money, but on their amount.
I totally agree with this opinion, and this is why I decided to write an article on the issue how to multiply your money in order to have the sufficient amount of it.
If you multiply money, you take care of your future
Recently I have been receiving many complaints from my readers.
Many of them write such words: “Well, you always advise using every single opportunity, investing money, starting your own business, etc.
However, is it possible to do if you don’t have any initial capital?
So, Yulya, you’d better leave your silly recommendations for those who were born already rich, while we, poor proletarians, will continue struggling and “enjoying” our minimum wage.
Obviously, the presence of initial capital greatly simplifies life, but you should not wait until a huge sum of money appears in your life from nowhere.
You can save some money even if you receive an average salary. What you have to do is to plan your monthly budget very carefully.
If you listen to this advice, you’ll learn how to multiply money.
Besides, you never know what awaits you in the future. Imagine that tomorrow you may win a lottery, come into fortune or find a case with money.
However, if you don’t read this article, you won’t manage to deal with this treasure because you will know nothing about how to multiply your money.
What will you do then? Start wasting your chance to improve your life by buying new clothes or household appliances?
I want to bring out the following example.
Three years ago one of my relatives won a lottery. Obviously, he didn’t become a millionaire, but I think that 40 000 hryvnyas could help him live comfortably till the rest of his life.
At least he could invest in himself: buy a new car, spend the rest of his money on the credit and start his own business, think about taking a mortgage or visit several foreign countries.
But no, none of the above was realized! He wasted all his winnings on completely useless stuff instead of thinking how to multiply money.
Maybe, you can explain why did he buy a new couch while his family didn’t even have their own apartment at that time?
Or why did his wife who was working as a saleswoman at the supermarket need a mink waistcoat?
Or what was the sense in buying his lazy son a cell phone of a new generation?
My relative regained sober mind and consciousness when all his winnings were already spent.
Now he’s doing nothing but complaining about his miserable life: “Oh, I am so poor! Oh, if I only had the chance to change my life! I wish I won more…” and so on.
How to multiply your money: 5 simple but effective methods
“It’s not your salary that makes you rich; it’s your spending habits”.
Actually, there are many more ways to multiply money, but I’ve chosen the most popular and effective of them.
I don’t think that there are many financial geniuses among my readers, thus, I’m not going to overstuff my article with difficult specialized terminology.
On the contrary, if you are familiar with finance and look for unusual ways to multiply money, you should conduct a search on specialized websites.
Opening a bank account.
In fact, this method is already popular among our fellow citizens. Many people have deposits in national or foreign currency in different banks of our country.
Specialists think that opening a bank deposit is not only the way to multiply money; it is the great way to preserve your savings.
And it is true, because nowadays the inflation has developed such huge speed that deposits have stopped bringing a significant profit.
Besides, our local banks cannot be called reliable.
They become bankrupts one after another.
I’d recommend you to find a foreign “house” for your savings.
However, you should be ready that most foreign will banks demand your personal presence at the opening of the account.
Also, you should possess good knowledge of English in order to avoid misunderstanding and control your money properly.
Currency markets and stock exchange.
First of all, I’d like to warn you that before you start trading at the stock exchange, you have to practice and gain a lot of experience in this sphere.
An amateur does not have any chances to become successful at “Forex”.
Besides, trading at currency market or stock exchange is more than a part-time job during weekends.
It is a great way to multiply your money if you get along with finance. You have to be constantly self-developing and self-improving, you have to follow the news, work out new strategies, close the deal in time, etc.
Take into account that if you don’t want to work at the stock exchange, you can hire a trader. However, this method has two significant disadvantages:
- Traders don’t work with small sums of money;
- You’ll have to share your income with trader.
Residential and commercial real estate have always been popular objects for investment.
Real estate constantly goes up in price, and it can also be transmitted to children.
Besides, it can bring some passive income – you can lease your apartment and receive rent.
This source of income is quite simple; it won’t cost you much time or efforts.
- Gold and jewels.
You can invest in gold bullions and jewels, both of them get more and more expensive with every year.
If you decide to buy jewels or gold, you should think about the place to store them, e.g. you can rent a vault at the bank or a buy a strong iron safe for your house.
Share investment funds.
Nowadays there are many share investment funds out there.
All you have to do is to choose one of them and make a deal with it.
Afterwards you won’t have to do anything: professionals will do everything in order to help you multiply your money.
If you want to multiply your money, you have to establish priorities
Don’t repeat my relative’s mistakes.
Even if you win only 10 000 hryvnyas, you should invest them into something in order to make them work for you.
Besides, nowadays there are many different ways to multiply your money without much effort. All you have to do is to choose the most suitable method for you.
Many people don’t know what to do with savings when they come into money.
They don’t realize that not everybody can run his/her own business or become a successful user of “Forex” while being an amateur.
How to Become a Multimillionaire?
Also, not everybody understands that one should think twice before purchasing real estate, otherwise it may become a burden for you.
Before you start choosing a method which will help you to multiply money, you have to answer the following questions:
- What are you good at? (finance, business, sources of passive income, etc.)
Are you ready to change your life?
For example, are you ready to quit working as a teacher and become a businessperson? If not, you’d better delegate this task to professionals.
What are your priorities?
For example, at first you wanted to buy a new car because you are a taxi-driver and you need it for work.
However, when your grandmother died and left you 10 000 dollars, you suddenly decided to quit your previous job and start a small business.
You have to decide for yourself whether you’d like to take a risk, invest your money and start your own business or you would like to continue working as a taxi-driver with a brand new car.
You may even choose a third variant: you can repair your old car and invest your money into something profitable.
I hope you understand what I mean. Always think twice and don’t make hasty purchases.
Take your time, give this matter some thought and decide how to multiply your money properly in order to avoid negative outcome!
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