Welcome back!
We have now come to the last post in the ‘Cure for a lean purse’ series. It’s been a thrilling journey so far. In case you’re just joining in, you can catch-up on all the saving, investment and retirement tips we’ve discussed so far. Let’s get into the last, but definitely not the least important cure.
#7 ‘Increase thy ability to earn’
‘The more wisdom we know, the more we may earn.’
Arkad.
There’s a saying which recently became popular which goes ‘Dangote still they find money’. Mr Aliko Dangote, the richest man in Africa still finding ways to increase and secure his net worth. This is true for most of the richest men in today’s world. Even when their net worth can be unbelievably massive. It doesn’t matter what you ear, you need to increase your ability to earn.
Back to curing our lean purses, increasing your ability to earn is an important part of increasing one’s income. Sometimes saving and investing just isn’t enough. I had a discussion with a friend recently where she asked about platforms to invest which will give high ROIs. After listening to her, how she had a lot of responsibilities – personally and family-wise. After listening to her, I told her that what she really needs to do is to find a way to earn more than she does at the moment.
'The more wisdom we know, the more we may earn.' - Arkad, The Richest Man in Babylon. Share on XSo how exactly do we increase our ability to earn? I’ll outline various ways that I have come across. I acknowledge that it might not be so easy to earn more, it is always worth a shot.
• Improving your abilities and getting promoted/ asking for a pay raise at work
• Getting a side hustle: freelancing, starting a small trading business
• Turn a hobby you’re good at into something profitable
There are definitely more ways to do these and if you have any, you can please drop them in the comment section below.
Increasing your earnings and applying the principles we’ve learnt in this series to whatever income comes from it will significantly help to cure a lean purse.
As we end this series on curing a lean purse, I’d like to say that while making and having money is something we all desire, we shouldn’t tie our happiness to it. Odd as it may sound, do your best to be happy at whatever stage you are. Happiness is determined by you, no matter what life throws at you.
Also, it takes time to build wealth. As I learnt from the book ‘The millionaire next door’ by Thomas J. Stanley, millionaires are made not necessarily by how much they earn but by how they live. Applying the 7 cures we’ve discussed might not yield results overnight, but if we stay consistently at it, 5, 10, 20 years down the line, we’d be grateful we did.
“Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.”
― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
Thank you for staying with me throughout the 4 posts in the curing a lean purse series. It was a pleasure to write the posts, and knowing that people read and were inspired by them makes my heart full.
“Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and, most of all, self-discipline.”― Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of America's Wealthy Share on XIf this is your first time on the series, you can go here to catch up on all the other posts. Also, subscribe to this blog to get instant personalized updates on new posts. Not all of my posts focus on money issues, but I’m certain that you’ll find the other categories of posts as inspiring.
Till next time,
Sisikunmi
