The First Step to Wealth

January 23, 2013

in Saving money

By AK (guest contributor)

People often complain about how they do not make enough money. If you come under this category, ask yourself: Are you being shortchanged?

If others in similar positions are being paid more, then it may be the case that you got a raw deal. Negotiate with your employer. If you are a good worker, our employers would want to keep you and give a much deserved raise. But if you are a sub-par worker, you should lie low and cease complaining. Remember, your performance is a matter of choice.

It is always harder to keep good workers in any company. Sometimes, they leave even while enjoying above market rate compensation. Why? They constantly improve themselves and are always on the lookout for more rewarding positions. Jobs even come looking for them! These people are dynamic and driven. One day, they could even run their own businesses.

The key to earning more in a job

Very few things in life are free. The more money we want to earn, the more effort we have to put in to increase our value. If we would like to have a higher income, complaining is unlikely to help make us more money.

We are all made differently. Some of us might be comfortable doing what we are doing, feeling that there is no reason to change. Is there anything wrong with this? Well, if by keeping the status quo, we become wage slaves, then it is wrong.

Planning for self-sufficiency

The last thing we want is to burden the people we love or, indeed, to society as a whole. Common decency would require that we think this way. Taking affirmative action to plan for self-sufficiency is not only financially prudent, but also the responsible thing to do.

Think of our lives like a business. In order to have healthy personal finances, we need to increase our revenue as well as keep our expenses prudent.

If you feel that you do not make enough money, look at your revenue and expenses. Something must be wrong with one or both. Unless we are severely disadvantaged in some way, there is no reason why we cannot maintain healthy finances.

For people who are always complaining they do not have enough money, I would not introduce them to investing in the stock market. They have to be free from their mental shackles first.


By AK, an experienced investor who blogs at A Singaporean Stock Market Investor.

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