To live luxuriously, and be able to pay for a standard of living higher than we currently maintain is a subconscious goal we all have (at least most of us). However, we need to be honest with ourselves, and ask the question “Can I really afford it?”
Most of the time, we make plans to scale up, to buy a higher quality version of an item we own etc. without actually earning more, or making plans to increase our earning capacity.
So though we agree that luxury is good, you should not enjoy it without being able to afford it. Therefore we have put together three main things you can do to help you achieve luxury living.
- Multiple Streams of Income – The more your sources of income, the closer you are to financial independence, because if one door shuts, you are not automatically sinking. Like a stream, money flows into your account from different ends, and you can take advantage of the profitable aspects of different societal sectors. And the more successful your businesses are, you not only have more money, you can get good deals from banks, and will always have enough cash to take advantage of opportunities as they arrive.
- A Knack for Investment – Investing will help you build wealth beyond your earning power, and it can guarantee your early retirement. We compare funds to be gotten from business and investing to fetching water from a tap, and filling your tank from the ocean. The possibilities are endless.
However, please note that investing can be like gambling, so don’t do it with all your legs in at once. Test the market you are investing in. Also, make sure you investigate the odds, so you are making informed decision. You can make it big by investing, but you can also lose it all.
- Tracking Your Expenses – Money, no matter how much you have been able to acquire is not a bottomless pit. If you keep spending it, it can finish, except you keep making so much more. Nonetheless, it is only responsible to know where your money is going, and what you have been spending on to ensure you are not just been greedy and wasteful.
Money is a means to an end; it can give you a very easy and luxurious life. But it can also make you a remarkable person like Bill and Melinda Gates, who invests their money into lives of less privileged people all over the word through their foundation.
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