Magical keywords that will make you rich.

Philippines
July 25, 2022 5:40am CST
Be FRUGAL, often but not always. SAVE, Save money in the bank. There are many types of saving first is the "Emergency Fund" INVEST, Invest your money to businesses that will multiply your money. Example, Mutual Fund, Balance Fund, Bond Fund etc... RE-INVEST the rule is simple just re-invest the profit where you first invested your first capital. COMPOUND INTEREST Often used by investors in the stock market. But also useful in other investment instruments. DIVERSIFY, When you invest be sure your money are srpead in multiple investment instruments. Make MULTIPLE SOURCE OF INCOME. The more SOURCE OF INCOME you have the better, Just look at Elon Musk he has a lot of businesses. When one fails another business by he will be the hero saver. Remember: Never rely on one source of income. Because often the poor will do this. So you have other MAGICAL KEYWORDS that you think I missed comment below to share them. thanks in advance.
3 people like this
3 responses
@ShyBear88 (59303)
• Sterling, Virginia
25 Jul 22
None of that would make a person rich. Having money comes down to a lot of things the main things where you live and the economic in there area as well as your income. Living some where were the daily living is expensive with low income makes it impossible to save for anything. I know because I love it on a daily based. Do we try to watch what we buy yes but we also live paycheck to paycheck and I got 3 kids to care for.
1 person likes this
• Philippines
25 Jul 22
Genius!!! lol
@yanzalong (18982)
• Indonesia
25 Jul 22
You are truly correct. I remember "Don't put your eggs in one basket."
1 person likes this
• Philippines
25 Jul 22
And that is called DIVERSIFY.
• Philippines
25 Jul 22
Thank you for teh wisdom that you have just shared. Maybe I should try and be frugal again.
1 person likes this