5 Ways To Master Your Finance

 

When it comes to managing money, most people flopped even when they are rich. They ended up spending more than what they earned and being in debts when their bills surpassed their income. This was usually the case when they have only 1 source of earnings. Here are 5 ways to master your finances.

1. Hiring Someone To Work For You
If you have money to invest, you may consider hiring someone to work for you instead of doing everything by yourself. If that person can perform, you will have less to worry and able to focus on other money making opportunities while your business is being well taken care of.
Though you have to pay that person month after month but so long as he helps your business to grow, he will be an indispensible asset on a long-term.

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2. Changing Your Plan

Changing your plan, especially giving customers discounts, can result in profits. For instance at the recent IT fair on laptops, ipads, iphones and smart TVs in my area, many people will flock to there and buy even if their initial intention is just to see.
The reason is very obvious. Those products are sold much lower prices than normal computer shops and stores.

3. Differentiating An Asset From Liability
Being able or not able to differentiate an asset from liability is critical to your mastery of finances.

4. Being Unique Yet Original 
If we do what we always do, we will get what we always get.
The same goes for running our businesses. Unless we stand out from the competition by being unique yet original, it will be quite difficult to achieve success.

5. Being Calm And Composed
When we have a lot of money, we tend to spend on impulse. Otherwise, we panic and start being very emotional as we do not know what to do.
Whichever the case, we should remain calm and composed so that we can make wise decisions. Especially when it comes to protecting  protect our finances while expanding further.
This is the most essential requirement of being your own boss.
With that said, having a lot or little money is not important. What is important is how you master your finances in order to maintain and grow your wealth.

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Gold and Silver Shining Like Never Before

Now is the time to own gold and silver. Investors from across the United States are flocking to gold and silver investments as their ultimate wealth preservation tools to combat one of the worst financial crises our nation has ever witnessed. Historically, gold and silver increase in value during times of economic distress because investors rapidly purchase the metals to protect their hard-earned wealth from massive contractions that are commonly experienced with dollar-backed assets like stocks and bonds.

In the year 2000, the gold spot price was sitting around $280 per ounce while the silver spot price was sitting around $5 per ounce. Today the gold spot price is just above $1,500 per ounce while the silver spot price is at $36 per ounce. With the US economy falling deeper into the pit every day it is no surprise that more wise investors are turning to gold and silver investments as their "secret weapon" diversifications.

How to Invest In Gold and Silver

There are several ways to invest in gold and silver, yet the safest and most effective methods are with physical possession bars and coins that you can hold in your hands. The most popular items are modern-date gold and silver bullion bars and coins or pre-1933 certified rare coins. The modern-date bullion bars and coins are commonly purchased by investors who seek short-term profit while the pre-1933 gold and silver coins are commonly purchased by investors who seek long-term wealth preservation. My favorite modern-date bullion products are the American Eagle coins and the Credit Suisse bars while my favorite pre-1933 certified rare coins are the $20 Saint Gaudens and the Morgan Silver Dollars.

In order to make the most effective investment decision possible, it's important that you understand your investing goals so you can meet them with the help of the appropriate product(s). Don't wait until the United States economy collapses before protecting your hard-earned wealth with precious metals.
Shannon King is an award-winning author and analyst of the gold and silver markets. To read more by Shannon King and to learn more about gold and silver investments please visit www.GoldSilver.org 

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