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Thank you for inviting us to discuss this topic, it has
been a very critical topical issues around the world, such that has called for global conversation and economy expertise attention all over the world. But I am going to make my debut on this topic in a way I could help us grab the hint so personally.
It is a personal topic that affects us individually. I am inviting @irvinc, my hive favorite authors, please add your views to this topic @hivereachout. Welcome home to a world where if you fail to plan, you fail to succeed. It is a popular saying.
A few months ago, I wrote an article on something similar to make a semblance balance on similar related topic like this.
Investment is a dream and a goal of everyone, an objective that people want to achieve without barriers. But there is a missing gap that many do not know how to handle
That gap is the Strategies for Maintaining that Financial Stability
Think critically about these strategies
Financial stability is standing strong and holding control of your financial life and plans.
- Invest*
- Save*
Spend Less
Apply consciousness - Be financially oriented*
Reinvest
Let me stay within the few above outlined scope so that I can get us straightforward to the point.
I have already device a means to build my financial life, stabilize it this year as usual one of it investment:
I have invested in some business that I had interest in since last year. Why people stay tight to fear and low financial instability is because they don't invest.
Sizing the many missing opportunities lip holes in the multiple business related areas, allows one to maintain, a first mind and business minded stability focus.
But how to do this requires one getting in touch with the right business ideas. You really don't have to invest into anything, you invest into something.
What is that? It is your decision to take
I took a decision of, to invest my first 12million $HBD worth of Naira, into a real -Estate business. This is not the topic here Many of us would agree that investment comes with fear, but to maintain a stability for a better financial plan, you can't look down on investment.
I am not going to make profits from this investment any time soon, not even in the next six months from now, but strategies that would help me maintain financial stability, towards another investment when it begins to pay.
Some people think to be a prudent investor, we most be as rich, than the world's richest individuals.
No. Think of what profit your little money can invest into and invest. By doing so, you have strategized a way to maintain high financial Stability for yourself.
Such investment could range such as agriculture: In my country, food is the most expensive need and its scarcity is becoming so alarming
Tell me what investment have you done, to build a sustainable consumption for your small locality and the Local market in your, Community state and country's market demands and supply force, even as a subsistence farmer?
You can employ people, buy some pieces of land, invest that capital you have into agriculture, which is similar to oil well for those of us who are into the business like do.
I make a lot of money from agriculture. Just by selling, supplying my customers pepper, Union and green leafs only. In the next six months from now I am going to harvest tubers of yams and cassava only but few mentions.
These are investments I do to maintain financial stability, each of these items are harvested annually. So before one is ready to harvest, the other is growing up.
Keeping my crops rotations in that manner allows me to have a better financial stability for myself. If others follow this strategy, they too can improve on their strategies for maintaining financial stability in their life.
I like sharing real practical experiences in my work because I believe people are reading me here. Like last week, a bank manager from my country called in, to buy shares in his bank.
You may not be good at doing agriculture, but could be a good shareholder. Investing into such opportunities, when you have critically evaluated the pro and coins of that business, are good strategies for maintaining financial stability.
Another but important way one should plan for strategies for financial stability should be by learning and having a habitual system of savings.
Saving is a practically indispensable part of anyone who wants to be financially free, as it is to business, and economy factor, that cannot strive in the midst of an extravagant lifestyle.
I had a friend who made his first 20 million Naira through cryptocurrency. I brought home to this person a forefront of strategies for maintaining financial stability, an idea of a long-term savings, system, with a bank management of mine.
He didn't take it seriously, he thought the money was going to remain forever. Then he stated clubbing, doing all of that.
I can just borrow him not more than $20 HBD dollars to feed and nothing more than that because he doesn't deserve to stay around, worth.
Saving for the feature plans, business plan and life risks management worth, is the biggest way to sustain any financial life anyone could dream of.
And keeping your money in the bank is the biggest joke and ridicule you can ever make on wealth. In savings, I do not mean you should keep your money in the bank or somewhere without generating a trusted profit.
Saving does not necessarily mean taking your money to the bank, there are many ways to savings and, which will lead to a good strategy for maintaining one's financial Stability. Savings for longevity, buying long-term shares really brings capital into profit that in turn becomes a strategy for maintaining financial Stability.
Also buy short-term shares, by having multiple income channels. Yes, this is significant. If you have 12million, for instance, and invest it into a long-term business plan, you cannot be considered financial stable at that point but a strategy only.
Being stable means having your financial plans running, without any breaks down that can cost you total damage.
So, when people also invest in both long terms and short—terms business, it provides the opportunity to avoid situations in case they occur. That's having a backup financial plan, in case of any financial crisis. By doing this, you can be free and also enjoy the benefits of the strategies in this discussion.
Many people have money, called capital, yet, I can tell from experience, 70% of these people are not financially oriented.
Because they are not open to financial opportunities. When you're not open to financial opportunities, you're lucking your strategies for maintaining financial stability. What financial oriented to worsen the hole matter. Being financially oriented is a big step ahead of ownership of strategies to getting stable in your income life
Attend to seminars, read books, articles, content, listen to podcasts and all that has to do with financial matters. It helps build strategies for maintaining financial stability.
Don't avoid reading matters that have to do with risk management and jump to the ones that don't have risk attached stories and really practicable experiences.
Shying away from this can of issues too, even with your money, one could still certainly fall to the flaws. Read men and people in monitoring powers and their financial antecedents to success.
You will come back to thank this article. All practicable So by doing this, one will maintain a significant unique Strategy for Maintaining Financial Stability.
Some people scared of reinvesting after a failed attempt. No, you most fail, fall but the most important thing is do not lay their down there get-up. Continue reinvesting.
Doing this is a proper way of building Strategies for Maintaining Financial Stability.
Thanks for reading, if you find this topic interested, please weblog and comment.