Without that security, without that stability, those who are employees must start looking for alternatives to make the money they receive work, to grow. And it is not bad to think about setting up a business parallel to your work and/or investing in the most valuable and important asset you have, your own “brain”.
Every year, workers in a dependency relationship receive the Complementary Annual Salary (SAC), better known as a bonus. In 98%, that amount is used for consumption or to pay debts. Only 2% of Argentines allocate to reversal or to the creation of a personal brand or their own business
The worker who receives that thirteenth salary should see it as an opportunity to undertake and not be carried away by the temptation of spending, or short-term pleasure. So, what better opportunity to spend at least 50% of that bonus on our financial education or productive habits (reading an inspiring book, conferences on entrepreneurship, videos on economic growth, productivity, optimization of resources, etc). We could even get up an hour earlier than usual, every morning, to be with ourselves, clear our minds, think about what we want to achieve by the end of the year or where we would like to be five years from now.
It is necessary to face the expense issue with a real budget. If the budget does not allow for more, a worker usually adjusts to avoid future debts. Of course, the best solution would be to earn more and not spend less, although putting ourselves in the shoes of an employee seems like a utopia, so here the imagination comes out to play, the creation of productive habits that lead us to think of strategies to achieve better income .
For this, we must calculate how much money we are willing to pay and spend for the winter holidays or for the end of the year parties. The important thing is to have a budget to determine the amount of existing to spend and not fall into debt or unnecessary liabilities.
Our societies lead us down the path of consumerism, pursuing ideals through advertising, and the so-called cognitive biases: if we don’t buy “we are not part of” either “they don’t accept us” and this leads us many times to get into debt so as not to be left out of that model.
Another point of extreme importance is to recognize what liabilities we have and what assets we acquire, without falling into complex accounting issues, and recognize that a liability takes money out of our pocket and an asset puts it in us. From that start the path of financial freedom or build more and more assets that allow us to have a constant cash income and without the need to work. That is basically the ABC of financial education and you reach that level by building a business and putting a brand that presides over your image.
However, we recognize that not making the expenses that are usually incurred when collecting the Christmas bonus is an effort that requires a lot of discipline, at least until you have an asset flow. When the wheel starts to work, that is, when you already have the necessary cash flow, it is very good to reward yourself with something that you like.
For this path, savings are useless neither in dollars, nor gold, nor jewels. The money should work for us, not us for the money. The “unemployed” money does not bring us, we have to use it to get what will later add more money to our pockets, like owning a brand, buying stock, a property, a garage to rent, these are all assets to grow.
Unproduced money is not financially correct. Money must be invested and moved. Successful entrepreneurs do not work for money but to acquire assets.
It is also important to recognize that really successful people do not work for money but to acquire and build more assets that allow them to have a flow or a passive income I mean income without working
The Bonus is an opportunity, a hinge, it can be the starting point towards something new. We only have one life and it is not worth doing things that we are not passionate about or working in a job that we do not like or earning less money than we think we have to earn and above all selling our time in exchange for our little money.
If you don’t know where your life is going, you are leaving your gifts and talents to chance, that’s why you have to focus on what you want to achieve. We can all be the best at what we set out to do, if we make an effort and abandon the old beliefs of having to spend decades in a certain job.
So we have to try to make an effort to discover our hidden talent, which usually results in what we like to do the most and from there find a way to undertake it, whether it’s painting, being a pastry chef, carpenter, craftsman and then putting a mark on it to get there. to that financial independence that ultimately allows us to do what we like and be happy.
Source: Ambito
