8 Skills you must possess to be financially successful

By: on 2017-08-15
Ask Phil Bradford

Whenever we dream of a good life, we think of a better place to live in and a better way to sustain our living. To do so, we must be hard-working and have all the necessary skills to be financially successful so as to bear the cost of such.

This is a rapid world of changes, to be a part of it you must resonate as per its accord.

One such question that always hovers above us - How to be economically stable and how to succeed at it.

In the present times, we must try to find a proper place to fit into this society. There is always room for improvement and betterment.

Here we will find out how to boost our spirit for a smooth financially successful life.

For an easy comprehension, we will divide the process in stages, where you will have to follow each stage chronologically. But before you start, let me remind you:

“A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do.” - Bob Dylan

Stage 1 : Plan a career that suits you the best

You might be a laborious student or a determined employee, but if you don't enjoy what you do, then let me tell you buddy, you are no more than playing a fool’s role.

If you have interest in physics but landed into economics, well then, you are dealing with wrong numbers. Make your passion your mode of working.

If you are a parent planning for your child’s future, give the freedom to choose what he/she wants to do. There is a place for everything in this world. Be a guide, don't be an obstacle.

If you are a youngster reading this for tips, then choose the path where your interest is.

If happiness comes your way, it will automatically bring in good money with itself. Don't forget peace in the rush to succeed.

Stage 2 : Accept changes as they come

Don't be rigid to alterations. Be a believer of this ever changing world. Being nostalgic is artistic, but clinging onto old goings will only make you suffer.

If a job doesn't suit you well but you like the manner of your colleagues, it means you can't have a growth in here.

You must leave this place even though you have good friends. Good friends will remain, but a better career opportunity won't last long.

One such skill to be financially successful is the ability to forget irrelevant and expired notions and the ability to adjust fast to new things.

For the survival is of the fittest.

Stage 3 : Take heed of investment seeds

Don’t be so obvious of the future. Never give a chance to the future to betray you.

Start your financial investments right now. Be proper and accurate in your investment plans. Open a savings account if you don't know how to begin with financial growth.

You can also make deep down investments in real estates or luxury goods like Diamonds, antiques and basic jewelry.

It is always better to go for a consultation before you start investing.

If you already have a good bulk of savings, then the best would be to go for a fixed deposit.

Again, you must consult for there are cases of emergencies in life, where you might need a lot of money to handle those situations. So it is always best to have a flexible amount in hand in cases of impulsive hours.

Stage 4 : Be a fundamentalist and track the market

In the present world, it is practical to invest in shares and mutual funds. For mutual funds, you must be wise and lucrative in your investment strategies. But choose not to choose false agreements.

This place is termed to be fraudulent, as we humans gave it the reputation.

Now coming down to shares.

Stick to the basic principles of probability and learn to predict those million stash of cash that flies in the market. What is in today may not be in tomorrow.

Be clever enough to understand the market. Spend time researching which shares will be a good turnover.

Shares are good means to increase one’s own monetary treasury; and hence always proved great in making a financially successful career.

Stage 5 : Learn to say no to debts

Don’t hurry in establishing your dreams and wants. Learn how to be positive.

On your way to be financially successful, ending as a debtor will be the last thing you want.

Incurring debts may give you a momentary rush of smile; but there is an old rule that says, a debt can never be paid, it is only delayed.

To stay honest is the best way to earn money and respect. This I consider a great artistry to be mastered to be financially successful.

Debts are really harmful, in the sense that it destroys your esteem and brings in a lack of financial independence.

To really understand how much materialistic values you need in life to be happy, I would recommend you to read Leo Tolstoy’s “How much land does a man need?

Stage 6 : Follow the 50-20-30 budgeting rule

This is the most easy and practical step that can make anyone come to a grounding position.

All you need is first cut down 50% of your income for your basic needs, then 20% of your income for savings, and the rest 30% for luxuries.

This is an easy skill to be financially successful that anyone can follow.

You can refer to the same broader article by us, for more information on this subject.

Stage 7 : Be a negotiator, be a prolific speaker

Master the art of discourses to succeed in this world of languages. You are what you speak and what you do.

Try to negotiate prices. In this global market there are prices for everything you want to have. You must learn how to pay less and have more.

Be debating, no matter how ridicule it sounds. Seriously, what’s there to negotiate? You ain’t buying even water for free.

The less you pay, the more you save. Don't be hilarious in debating over a price, just be sensible.

Stage 8 : The rules to let you rule

There is no tomorrow

Act now, there is no room for the late and the lazy. Be active. Learn to choose fast.

This time, that's gone will never return. Don’t lose your part of happening. Today is the event, now is the time to do.

Those who are really successful today never waited for their turn to come, they took their turn and turned it into a story of history.

Never cheat

Don’t be one of those fools who thinks cheating is the fastest way to succeed.

Remember this world is based on kinetics, what you do comes back to you. Be it good or bad.

Have patience and maintain your goals

Nothing comes easy. You need to maintain your perspectives straight. You do your job, and just wait for the results. If you have done it right, you are bound to get showered in the fruits.

Have patience to understand your limits. Accept your boundaries. If you jump higher than your capability, you will fall harder than you expect.

Fail again and again, but never quit the game. If you think this is not your part, then reboot yourself from Stage 1 again.

With this my friend, you are now coded to run this race. Run fast to win, but be cautious not to tumble down.

There are many people to share your success but no one to pick you up when you fall. Understand yourself first; if this part is done, then you know what you are meant for.

Last Updated on: Tue, 15 Aug 2017

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