Teaching people to use time in order to make more money is something that is fairly difficult to do. Here, we are going to show you an example how time works against you to grow your money and how it costs more in the future.
Assuming that you want to save up money to go on a trip in 13 years from now. A trip that is comparable in price today costs around $5,000. So calculation the time that goes by, you will need about $8400 in 13 years to make this trip, which puts you saving around $505 per year.
Now, time as we know with money can work against us or with us. In the example above, it works against us and here is how.
The first thing you have to do is calculate the cost of inflation for 13 years. If we use the example of inflation going up 4% per year. If you find an inflation chart online and look at it for an annual amount for a 13 year period, you will come up with a number around 1.6651. If you use this number and multiply it by the original cost of the trip, $5000, then you come up with $8326. Now you know that in 13 years, this trip will definitely cost more.
We are not trained to think this way in school. We go over inflation, but its not drilled in so we use it as a tool to calculate cost in everyday life. I urge you to use this tool when planning for your future.
Everyone wants to be rich and successful. The trick is how can you do it. Sure it helps if you had a million dollar idea, or discovered a gold mind, but when it comes down to it, we have to think realistically. Everyone is after money, and everyone is working hard to get it. This means that you have to work just as hard if not harder, but it will pay off. All you have to do is follow these steps.
Get the confidence.
Many people just want the money, and say they do but don't actually do the effort to do it. If you really want something then you have to go after it, just like anything else. Take some classes and read some books. You will be so impressed with what you learn, you might be able to teach a seminar. When it comes down to it, all you really need to do is find someone to help you. Whether it be a partner with a great idea.
Have a plan and make the effort.
When you have found some books or read something that have motivated you, you then need to find out what you want to do. Whether it be get into a new business, or buying shares off a new company or even an old company, it is important to do your research. Read up on how the company is doing and maybe, if possible try to find someone involved in the company or someone he may even have some advice.
Once you got your idea, or your company that you are going to invest in. All that you can really do is hang tight and keep up to date on what you are doing. Like I said above, stay focused and be confident in what you want to do. Chances are if other people agree and have succeeded on it, with a lot of work it will pay off and you will have the best chance to change your life around and become as rich and successful as you always wanted.
Quotes for the day:
"The game is as perfect a window into the constitution of a man and
the challenges of life as one can find."
"Golf without bunkers and hazards would be tame and monotonous. So
"It's so simple to be wise. Just think of something stupid to say
and then don't say it."
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