By: MJ Gonzales | Executive Chronicles
In business, there’s a difference between livelihood and investment. If it’s for investment, you’re taking risks to build your wealth. On the other hand, livelihood means you’re carefully doing business to cover your expenses like employment. Knowing this, it is ideal that to make a business that can be both livelihood and investment or better as mere investment. What about your personal finance, are you in a surviving or thriving phase?
It’s about your will. In personal finance, the feeling that you’re in a rat race will not stop if you stay in the surviving phase. If you strive to thrive than just to survive it will change your status gradually. You can research as many tips like creating your cash buffer, but at the end of the day, it’s your will and action that propels your success.
“In all hard work there is profit, but merely talking about it only brings poverty.” Proverbs 14:23
It’s the extra effort you do. Thriving is not easy-breezy as always, but the extra steps and effort make ordinary seem wonderful. For example, eliminating the habit of impulsive buying that drain many wallets, even those who receive high salaries. If you can turn yourself into someone who’s thrifty and organized, you can create funds for your dream travel, business, and even a car.
Another point to consider is to know your capability and ability. What if you’re working as an accountant, but you can also speak Spanish or Korean? Is it worthy to use your talent as source of your extra income? If you think taking a degree can help you to manage your family business, then why not enroll?
“Today I will do what others won’t, so tomorrow I can accomplish what others can’t.” – American Football player Jerry Rice’s famous quote.
It’s your determination. Working on something you decided to try is a journey. However, if you are determined to become successful, you can always find solutions than reasons to stop, and see failures as motivations than disruptions.