How can I Become Financially Stable



As a human being, everyone has the desire to become financially stable whether it is me or you whether we know or not. But it is good news, I and you can become financially stable but it will only be possible if we have the knowledge of this. Otherwise, we will never financially stable in life.

First of all we should learn the clear definition of Financially stability and then we should understand it. If I and you will understand it, we can take step to achieve it.  Understanding is must before taking the step.

 Definition of Financial Stability


"Financially Stability is the financial  level of any person whose all  expenses are less than all incomes in each month."

Explanation


 It means, that person has developed the ability to control his expenses and increase his ability to make money. He knows, his earned money is his children. He has to use it to grow it. Marry them and born lots of children from them and all will have to serve him. Now, it very easy now to take the steps to become financial stable because we know what is it.


1. Never Take Debt

This is first step to become financial stable. I know this step. So, I never took any debt in my life. When any person will take the debt, he has to face the side-defects of of taking debt like loss of money in the form of interest, late money and productive time for getting it. So, same person will unable to control his expenses because once he will take the debt, he will become the habit of taking debt. So, he will not fear of taking debt for gambling and unproductive purposes. It applies same on all type bad habit. If a person has no control himself or her self. He or she see porn for enjoy but soon, he or she will be addicted to do Masturbation and then he or she will engage in unethical relationship  with other opposite partner ( we can say girlfriend and boyfriend) and one day, he or she will face HIV - Positive / AIDS. It starts from enjoy. Like this, person starts taking debt for business, then person takes debt for personal need. Then person takes debt for personal comforts. Then person takes debt for personal luxuries. In end, he sees that he or she has no money for eating the food and all monthly is going for repay the debt and interest through installment.

Solution : If you have HIV-Positive / AIDS, I am doctor and I have full treatment of HIV-positive/AIDS. If you are feeling financial instability due to heavy installment of your debt repayment monthly. For this,

(A) You have to sell your property which you have bought through debt. For example, you have to buy AC car through debt. So, sell fastly car in market and repay your debt.
(B) If you have to take home loan and you have made the home. Start to give it on rent and repay the debt through rent.
( C) If you have to take loan for your business machinery and it is not getting monthly money for installment, sell it in open market or scrap and repay your debt.
(D) Do more hard work. Earn more money and try to repay double, triple and four times of installment in one month.
(E) Full determination about never take debt in future.


2. Make Strict Budget

Strict budget opens our eyes. For example, you earn Rs. 100 per month. It means, you have to make the strict budget of expenses of Rs. 100. Your budgeted expenses must be Rs. 100 or less than Rs. 100. Here, we can give the tip for controlling your expenses and keep under your budget.

(A) If you have not excess money for food as per your budget for 4 days in the month. You can choose every Sunday in whole month as fast day. At that day, you will not have to eat anything and your expenses will be under your budget. No one die without food. Die with more food than actual limit of body.

(B) If you have not excess money for petrol or diesel for your vehicle. Stop to use it. Use Cycle or your foot for going from one place to other. It will help you to control your expenses.


3. Care Your Assets 

If you do not care your assets, it will increase your expenses. If expenses will increase, it will more than your income. So, you will become financial disturb.


I can give the example of my life. I did not care my asset and it has increased my expenses.

1. I did not care my mobile phone. It fell and its display was broken due to gravity of earth. I spend Rs. 1500 on it.

2. Again, I did not take the lesson, I did not care and few days again, it has slipped from my hand and I spend Rs. 500 for its look.

3. Again, I did not take the lesson, My mobile fell and I spent money on it.

4. I did not care, my camera light and it fell and Rs. 1000 value become zero within few seconds.

From above examples, you can understand, if you will not care your assets, you have to pay its price. For this, focus on it. All breakable assets need more care and focus for its safety.


4. Try to Earn More Money

If you are still healthy, you can try to earn more money. It will make you financially stable. Because more expenses are easy covered from more earning.

1. Sell eBooks Online.
2. Sell Your Course Online
3. Earn Advertising Earning from Google Adsense
4. Earn Advertising Earning from Infolinks
5. Learn Naturopathy from Books and Start to Give Naturopathy Services to Patients Like Me.
6. Earn Rent from Properties
7. Earn Interest from Your Fixed Deposit
8. Give Your Marriage Beauro Service Online
9. Earn referral earning from Infolinks
10. Plant and Grow Fruits Tree and Sell its Fruits in the Market and Earn Money

5. Save Your Earned  Money

Saving the money will boost your confidence. Save 10% of your each earning which you get in cash. For this, you need to learn to make the habit of saving money.

6. Make Your Food in Your Home and Kitchen Garden

Outside food is so expensive. Try to make your food at your own home and plant vegetables in your kitchen garden and grow. It will save your money and make you financial stable.

7. Save Electricity

You can Save Electricity by following way. Less electricity bill will make you financial stable.

1. Never use AC.
2. Never Use Heater
3. Do work in all natural lights instead artificial light which consume electricity.


Related :


  1. How to Become a Successful Young Entrepreneur
  2. How can Accounting Help your Business Succeed

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