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Regardless of whether his salary is large or very small, each person is able to significantly improve his financial situation and gain prosperity. Financial well-being is within the reach of anyone who knows well what exactly needs to be done for this.

Many people ignore the simplest rules of money and naively hope for a lucky chance, buy themselves a “red wallet” or put a feng shui toad at the door, perform esoteric practices, etc. In this article, we will talk about how one simple rule will save you forever from money problems and will make you a truly rich person. In order to change your financial destiny, you need to take real steps (and not meditate on the proverbial million dollars). Search how you can make passive income. Even in crypto trading, with crypto lending platforms it is possible to earn more than it seems.

1. Create a spreadsheet


Creating it is very simple, you can even do it on your phone by downloading tables from Google. Write down all your expenses in the left column:

  • payments on loans;
  • rental of property;
  • electricity;
  • gas;
  • car service;
  • gasoline, etc.

Next to each, enter the amount you spend each month. Calculate the full quantity you need each month. Now compare the resulting amount with your income. Are you earning enough? If you’re struggling to keep up with the bills, consider changing jobs. If you’re making enough money, there are a few other things you can do to improve your finances.

2. Get out of debt

Use all your free money to pay off debts. Start with small debts. The less you owe, the freer you will be financially. If you have the opportunity to get a second job, do it to pay off your debts faster. Plus, you will have less time to spend money on meaningless things.

3. Invest


Investing in digital coins and trading in crypto-currencies have gradually become familiar to many ways of earning. Today, crypto assets allow owners to receive passive income as well – and it can be more than the profitability of bank deposits and other traditional financial instruments. If you have no idea about it – use crypto bots like Zignaly that will do everything for you.

Many centralized cryptocurrency exchanges have adopted the principle of operation from banks. They attract users to place their funds on the sites. The advantage of the exchange is in the growth of liquidity. Some exchanges let users open deposits with a fixed or floating interest rate. As a reward, depositors receive a small portion of the income from the crypto exchange.

4. Save money for an emergency

The most common reason why people get into debt pits is due to the fact that few people save money. If you’re living paycheck to paycheck, barely covering your bills, you’re going to have a lot of trouble if something happens, like your car breaks down or you get sick.

Start with a small amount: for example, $ 100 per month. Try to reach at least 10% of your salary. Also, get a jar of change at home. Switch to cash; every evening, returning home layout all the little things.

5. Reduce Your Monthly Payments


Of course, there is something you cannot live without. However, you can cut some costs: drive less, use public transport when possible and more profitable; change the tariff plan on the phone, which will allow you to save on calls to the people with whom you communicate the most; give up the TV; switch to a home internet tariff that offers a lower speed (if you have more than enough internet now); keep track of your water and electricity consumption. Together, all the actions will help you save some amount every month.

6. Stay home sometimes

After a hard week, you want to go to a bar, go to the movies or go shopping. But all this will spoil your financial situation. Of course, we are not talking about not having fun in any way. There are many ways to have fun without spending your hard-earned money: invite friends to your place, watch a movie together, go for a walk, spend an evening with a good book – there are many options.

The more attention you pay to your finances now, the better your life will be in the future. It may take you a couple of years, but if you can rewire your wealth-building mindset, you can achieve financial freedom.

7. Crowdfunding


Starting your own business is not for every person. But you can invest in other people’s projects in order to earn. For example, with the help of crowdfunding, you can invest in startups and fast-growing companies. They can “shoot” and bring a huge income. True, they can burn out along with the money of investors. You should not invest all your savings in such projects. But if you have already created several other, more reliable passive income options for yourself, then a small part of your free money can be invested in this way.

8. Using cashback

Each owner of a bank card can regularly receive income through the use of cashback. Many banks offer special card products with increased cashback rates. Payments for different positions and categories of goods or services differ significantly: from 1–3% to 10–20%. Particularly high refund rates are observed during various promotions.

If you set the goal of stable earnings on cashback, it is advisable to use specialized aggregator sites. The most profitable offers and promotions are regularly posted here. It is especially convenient to install an application with such functions on your smartphone.

9. Buying shares


Stocks are one of the most traditional investment instruments. They allow you to earn a fairly high income. The main drawback is the equally high levels of risk. Even the papers of the largest and most stable companies sag periodically. This is due to the very nature of a freely traded instrument on the exchange. To successfully trade stocks, you need to have great knowledge, experience and qualifications. Another important condition is regular monitoring of the market, analysis of companies’ activities. For a novice investor, all this is quite difficult.