In the pursuance of better standards of living, more and more people have gotten their degrees by attending evening and online degree programs offered by both public and private universities. Most of these people are hoping to finally get that elusive promotion, breakthrough financially and stop living from paycheck to paycheck.
Yet when the promotion comes – if it does, they realize they want more and the cycle begins again. Even if they don’t increase their spending very few can actually claim a significant change in income that will result in wealth. In a worse position, is a good number of postgraduate degree holders who are still jobless or in the same position they were before taking their masters programs. Very few can claim a hundred present growth in income after slaving long hours in the night to earn the degree. Is it worth it?
If the objective of going to school is to increase one’s wealth and improve your standard and quality of life then definitely this cannot be the right strategy for achieving this. Going to school is good for improving performance and a myriad of other things but not necessarily to gain wealth. So what could you be doing after work if you are to create wealth?
A look at wealthy people can show you what you should do;
1. Perfecting an innate skill that you love; a good number of wealthy people are actually doing what they love to do. It could be speaking, working with children, designing a new product, or writing a book.
2. Being disciplined and focused; there is no favorable wind for a ship without a destination. Taking time to come up with a mission or goal is important. If for no other reason, it is for you to know when you have arrived. When you do not have something you are focused on there is nothing to look forward to and that means you cannot be a better person; the discipline is not necessary, no need for any do’s and do, nothing to aim for.
4. Building the right networks; most wealthy people know someone who can do something they need done or know someone who knows someone. How good is your network? Do you know a good lawyer, doctor, banker, etc? Now, this is not just knowing people for the sake of knowing them but the people should be honest and really good at what they do. This ensures you get the right advice without wasting your money.
5. Manage money; ever been in a situation where all your plans suddenly change because you got some significant amount of income? This is one of the surest signs that money is managing you. Impulse buying is another. If you spend your time spending whatever little money you have available, it is the time you look hard and fast at what you are spending it on. This alone can cut your costs significantly and improve your quality of life much more than a 10% annual pay rise if you were to get a promotion.
6. Planning; we could also say strategizing… for world domination? … Think big and understand that as you improve your skills you will be able to achieve and manage more. A man is as big as his problems. If a thousand shillings is a problem for you that is how big you are, if hundreds of thousands, a million or 10 million that is how big you are. Taking time to plan and see what you need to be and do to get to these different income levels determines your financial success, and success as an individual or otherwise.
All said remember where you are today was determined by what you did before; the decisions you made. You may have to keep your day job; hey it pays the bills. However, those 4-8 hours you are awake after work will determine who you become. I suggest you set aside at least 2 hours for yourself, writing a book, or business plan, analyzing your environment for opportunities, improving your skills, and let’s talk about the result in a couple of years. Not to impose on you I think writing, public speaking, perfecting a business you are already in and network marketing give you the best opportunity to grow yourself and your wealth steadily in the few hours you have after work.
