Since young, I had privilege to be exposed to many interesting books such as Rich Dad, Poor Dad by Robert Kiyosaki, The Richest Man in Babylon by George s. Clason and more. Thanks to my dad, I started reading these books since young and understand that I need to get out from the rat race.
Turning Thoughts to Action
Being exposed to these knowledge is one thing but executing it is another thing. Reading and understanding those theory was fairly easy but when it comes to executing it it’s really hard. I have to say I’m lucky en ought o be able to earn around USD$45,000 annually. Given I’m able to earn that much I have not manage to save up any. Due to that, I started feeling worried about my future. I’m 26 years old this year and zero savings is running me mad. I want to get a house, have a family and retire early and looking at my bank account I know I’m so far away.
So in this year, 2019, I have set a small financial goal myself which is to be able to save my first USD$10,000 in my bank. How am I going to to it? I’ll be using methods that have been proven to work by many millionaires.
Step 1 : Increase Active Income
My step 1 is to increase my active income. I have a full time job as a media executive which means my daily 9-5 is locked. I film wedding during weekend. These allows me have 2 active income which are very helpful for me to achieve my goal.
Step 2 : Finding 1 Passive Income Source
Step 2 finding 1, just 1 passive income source, There are many ways to generate passive income out there, but there is this one way I wanted to go with. it’s called Value investing.
Step 3 : Self Control
Step 3! Control my wants. I’ve been buying a lot of stuff in year 2018 which cause me to have no savings. A lot of the stuff that I bought were just my wants not the stuff I need. If I can be discipline in this lat step I know definitely I’m able to save up a big sum!
2019 will be my year of finance! I will make it happen!