Mastering Money as an Individual

16 December 2024, 10:28 pm

Mastering Money as an Individual

In this month’s articles, we’re exploring ways you can gain Mastery over your Money.

All in preparation for the exciting launch of our upcoming book – Money Mastery – which will be available soon.

In this article, we’ll explore the things you can do to increase your ability and wealth as an individual.

At the heart of mastery over money as an individual is knowing your value.

By value, we mean the skills, abilities and experience that only you possess and what that is worth to someone else. Many people undervalue themselves and can go for years not earning to their true potential. They may believe that they just have to accept what salary they can get, and to be happy with the modest increases that may or may not cover the increasing cost of living each year.

But the truth is, you could have value and potential well above what you earn now.

Even if you can’t get more money in your job, if you have goals that require more money than you earn, there is always the option of starting a side hustle in something you love.

One of our clients wanted to buy a car for their fiancé but didn’t have the money from his existing job. So, to earn that money, he added a second part time job specifically to get that car.

Whilst this may seem difficult to some, many successful people are willing to do what it takes to increase their income or money earnt. Successful people also find out what their employers value, or what their clients value, and then they go about getting more trained, or more able, or more successful in those areas. This is with the idea to increase their earnings faster than those who just accept what they get when it is available.

Who said you had to wait to your job anniversary to get a promotion or raise?

Beyond producing more, successful people also take a close look at their consumption – what they spend money on. Whilst giving up something to get something more important might be difficult, it is an integral part of rearranging your priorities to achieve success.

If you can’t earn more, then saving some money on your expenses can have the same effect of opening up a gap between the two so that you can then invest or save for a future investment.

Successful people also make sure their saved money or reserves are working for them by investing them and striving for the best return.

A way that many people get ahead is to use investment debt. They prioritise investment debt, such as an investment property mortgage, over bad debt like having big credit card balances from living beyond their means.

Finally, a great way to become more successful is to think about how you can help others more.

Many successful people include the money and time they need to help others in their budget, which not only allows them to help more, but also places more demand on them to increase their income.

Taking responsibility for the success of other people, or providing more charitable help, can actually also help you by making you work smarter, produce more, and creating more need to achieve your goals.

Successful people work hard, but they also improve their skills so they can be more valued, and very often, they are also the ones that help a lot too.

How does that sound to you?

How can you increase your value, increase your production, make your money work for you, consume less and help more?

If you’d like someone to show you some ideas on how to do this, we have senior advisors available who are willing to invest their time in you. Our initial review meeting is complimentary and you could walk away with a lot of value in the way of strategies you can employ in your own life to achieve the outcomes above.

Call us on (03 9017 3235 or email better@finwellgroup.com.au or simply click the link below to book a time that suits you. What have you got to lose, other than time or money of course.

We’re also offering no-obligation initial review meetings and you can book your own time in this calendar. Click the button below to book.

That is how you can end up mastering money as an individual.

If you run a business, there will also be a dedicated article to explore this area, so we encourage you to look out for it soon.

The information in this article is general in nature and does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.