Planning to increase personal income Economic newspaper

You can hear about the loss of someone who has sacrificed some of his money – and I do not say invested – in electronic currency, and you can find someone who started asking about bankruptcy proceedings because he opened a cafe or restaurant by borrowing and did not. work, and other stories, occurrences, and practices that are far removed from good financial planning and logical practices. Although everyone shares a legitimate goal and an indisputable right, in my opinion there are two challenges that reduce the chances of individuals to achieve this goal, the first relates to the design of the goal and the second has to do with how to pursue it. him.
The legitimate goal we are talking about is to increase the level of individual income, and this goal is not an advantage or a dream of a certain group, but a basic requirement in the financial planning of every individual and all those who want to do it . it is necessary to arrange his life as he pleases, to achieve financial freedom and various life goals. If we look at the productive life of work, which usually reaches 30 or 40 years, we find that it is divided into stages accompanied by integration and satisfaction, and not without challenges and misery. The first of these productive phases is the construction and creation phase of the “first ten years”, which focuses on building skills, relationships, participating in achievement, and making many important choices. The second decade process is the stage of maturity and embodiment of the reality we have created with our own hands and there is a lot of space to jump to the level and possibly explore new options, and the third stage is the stage of preparing for pension, which begins with proving the fruits of previous work.When it is better to plan.
The chances of increasing the level of income are almost limited to three tracks that can be focused on one of them or combine them in more than one way: specialized professional work that can be sold to others in the form of a job and a qualified, active person. investing in a traditional or innovative business, and direct financial investment. Each of these trails has good roads and “high risk” roads that are not. Understanding these pathways and linking them to basic financial goals, such as revenue growth, is a prerequisite for formulating the details of the revenue growth goal itself. That is, working on these tracks without clearly defining the person’s intention to increase his income or to what extent he increases his income, makes the person more likely to be involved in risks that are not commensurate with his decisions and his ability to cope. Determining the purpose of revenue growth is based on quantity and time, i.e. revenue growth to what extent and when growth should occur. This is the first challenge we are talking about, which is to design the goal appropriately and logically.
The perception of the individual about his future options, especially for the long-term ones, helps him to determine the objective and the time of this objective, and this is what enables him to design the objective well and clearly. And if he ends up specifying this, then he will be able – especially if he is in the first productive stage, or in the learning and foundation stage – to know what he lacks in the skills and knowledge that help him determine the path of effort. and thus comes the treatment of the second challenge we are talking about. What happens in many cases, is there a desire to get rich or achieve specific returns to get money fast and achieve what some think is the entrance to happiness faster. But this haste renders the construction and treatment cycle dysfunctional, so the person puts himself in the early decision-making stage, or acts without making a thoughtful decision, which ends in disappointing results.
Examples of early and very costly failures in financial planning are numerous and you can find them in all ways: at work, in project and in investment. At work, logic says that the chances of finding a good job are possible, and opportunities for growth are available to everyone, and some of them may set out a plan to develop their career path at the most advanced stage. important of the basic productivity of their hibernating lives. and occupy themselves in the stock or foreign exchange market, or anything useful perhaps, and then find themselves after the first ten years at a professionally weak stage. There are those with the opposite plan, making career leaps very quickly and without creating a good history of quality experience, who all accelerate productive early expiration, and thus usually fail to increase their profits from career growth available for a long time. run. As for project owners, although we encourage them to engage in them, they have conditions, the first of which are experience, learning and gradualism. If a person knows the stages of his income growth, he can determine the best time to start his project after filling the gaps that reduce his chances. Such a hasty investment, you will find many of those who throw everything they collect on the stock exchange and maybe in electronic coins and metals, and maybe some of them have borrowed to do so, and did not know that his task to increased income from others. trails is a first requirement before increasing investment income, and there are those who rushed and chose from Investment what goes against the risks it carries, so he fell into the forbidden and repented.
The reality today is more complex than before: various economic challenges, renewed demands for knowledge and skills, and a world full of good and bad choices. Getting started in any step is not difficult and experience, movement and effort are prerequisite for supply and blessing. But after consideration is the framework on which to base the personal financial plan, including the design of future goals to increase revenue in stages, and the study of possible options for this and their treatment with the knowledge and sophistication that requires. Risking your financial future is not just with a bad and late investment, but with the wrong start and poor skills.

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