3 Ways To Become A Money Master

3 Ways To Become A Money Master

Honestly, money can be mastered. You can indeed, master money. Many have done it, and it’s now your turn to master it.

All you will need to become a money master is, mastering the basics of wealth building.

Oxford Languages defines Mastery as

1. comprehensive knowledge or skill in a particular subject or activity

2. control or superiority over someone or something.

While Merriam Webster defines it as
1a. the authority of a master : dominion. b : the upper hand in a contest or competition : superiority, ascendancy.

2a : possession or display of great skill or technique. b : skill or knowledge that makes one master of a subject : command.

Those who have truly gained mastery over money live in financial freedom. Money mastery is the pathway to wealth creation and financial freedom.

In the world of money, this is what establishes you a Money Master.

In this post, I will show you how you can gain mastery over money in order to create wealth and ultimately live in financial freedom.

It All Begins With Financial Education

It would interest you to know that your journey to money mastery must begin with a burning desire to get financial education.

Financial education will impact upon you the necessary financial intelligence that would put you in control of money. With financial intelligence, you simply take command of money.

Financial intelligence is the sure path to money mastery. Simply put, to gain mastery over money, you need to understand the intricacies of how money works.

Making Money Is A Skill 

Making money and building wealth is a skill. This understanding is very paramount in your quest for money mastery. The good news is that it is a learnable skill. Like learning to ride a bicycle or drive a car, once the skills involved are mastered they can be carried out anywhere at any time.

These skills just establish your mastery and put you in control. Fortunately, you have the mental capacity to learn all the skills you will ever need to master money.

To be successful in the task of creating and accumulating wealth, you must understand and appreciate the fact that there are processes involved in building wealth. 

Wealth is a product of several processes. It is your willingness to understand these processes and a solid commitment to following through on them that would determine your level of success in accumulating wealth. 

The Three Fundamental Laws Of Wealth Creation. 

The processes involved in wealth creation can be broken down into three main steps. These three steps are based on the three fundamental laws of wealth creation. 

“All compromise is based on give and take, but there can be no give and take on fundamentals. Any compromise on mere fundamentals is a surrender. For it is all give and no take.”-Mahatma Gandhi

Every financial fortune anywhere in the world has been built on these laws. These laws guarantee not only the acquisition but also the preservation of wealth.

Wealth accumulation is contingent on your obedience to these three fundamental laws of wealth creation. These laws can also be described as the three legs of the wealth stool. These laws are the fundamental “causes” that produce wealth as an “effect.” If any dummy who cares enough to engage these three universal, time-tested, and proven laws would be able to generate wealth with almost mathematical certainty.

They are: 

  1. The Law of Earning, 
  2. The Law of Saving and 
  3. The Law of investing.

But before we begin to explore these laws, let us take a look at why many people are poor or would be poor.

Why People Are Poor

Basically, there are two major reasons why people are poor. Potentially, everybody on the earth can be wealthy; unfortunately, not everybody will be wealthy because of these reasons. 

Your awareness and commitment to not allowing these two reasons to keep you poor are of paramount importance to your financial dreams and aspirations.

These are the two reasons why people are poor:

  1. Ignorance of the three fundamental laws of wealth creation. People are primarily poor because they have not discovered the laws of wealth. Many are ignorant of the existence of these laws….and ignorance of any law is never a good excuse. Your awareness and understanding of the workings of these laws are crucial to your financial dream. Everyone who had ever accumulated wealth rode on the wings of these laws.
  2. Failure to adhere to the demands of these laws. Also at the root of most financial failures is the failure to obey these three laws of wealth creation. Your obedience to these three laws of wealth creation is your ticket into the world of wealth. Those who accumulate huge wealth are indeed rules players. They play by these rules of wealth. A commitment to obey these laws would put you on the side of the angels. Providence and unforeseen forces would come to aid you in your quest to acquire wealth. But I must warn you against taking the simplicity of these laws for granted. They are indeed simple, yet profound in their ability to make people wealthy.

Now, let’s explore these three laws.

The Law of Earning

The most logical and reasonable place to begin the pursuit of wealth accumulation is the ability to earn income. This is the start-off point of all financial fortunes.

Your ability to earn an income is your greatest asset in the pursuit of wealth. Your ability to work using your knowledge, expertise, skills, experiences, and talents to earn money is most crucial in your quest to accumulate wealth. 

 I would like to believe you already possess at least a skill you can trade for money in the marketplace. But in case you do not have a commercially viable skill, you need as a matter of urgency to go get a skill now. 

You must be skilled in your chosen field of endeavor. Acquiring a skill that can be used to solve a problem for people in exchange for their money is your take-off point. This is your earning ability and it is what defines your value in the marketplace. It is of great importance in your quest for wealth accumulation.

The Law Of Saving

The business dictionary defines savings as the portion of disposable income not spent on consumption of consumer goods but accumulated or invested.

Savings is a part of your earnings or income that is not immediately spent or used but rather kept for future use.

“If you would be wealthy, think, saving as well as getting” Benjamin Franklin

This makes saving money essentially a means to an end. Basically, it is about reducing expenditures in order to have some funds for the purpose of wealth building.

King Solomon, also said, “There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.”

It is a demonstration of a high sense of financial responsibility, while on the flip side, one who refuses to save has a poor sense of financial responsibility.

“To become rich, you must value saving more than spending.” George Choy

In the school of wealth, it is not so much about how much you earn but much more about what you do with what you earn.

It’s not how much you make, but how much you keep, and how long the money works for you that determines your financial future.

Don’t ever forget that the true measure of how well you’re doing is how much you keep out of the amount that you earn.

“If we never save money or invest, we will always be poor, no matter how much we earn.”- Anonymous

Please understand that there is a huge difference between earning a great deal of money and being financially free or wealthy

The Law Of Investing

It’s not enough to live below your means and save part of your earnings; the critical step that will generate passive income for you and ultimately make for your financial freedom is to invest your savings.

King Solomon, one of the riches Kings that ever lived, said, “The slothful man roasteth not that which he took in hunting: but the substance of a diligent man is precious”

You must do all you can to put the money you’ve saved to work. You must invest your money in income-producing assets.

Investing is the key to wealth and financial freedom.

“He who earns and does not know how to invest will have to work for the rest of his life.” – Debasish Mridha

One of the major differences between the poor and the wealthy is their perspective and idea about the subject of investing. The poor see investing as something to do in preparation for retirement.  While the wealthy see it as an avenue to catapult them into financial abundance and freedom. The poor are generally casual in the approach to investing while the wealthy are very passionate about it. To the wealth investing is a priority.

Please note that it is imperative for you to get educated on a specific asset class you would like to put your savings. Never attempt to invest in things you do not understand.

The principle is to always investigate before you invest your hard-earned money. So get educated on what line of asset you intend to invest your money. This is very important and crucial.

Mastering these three laws would establish your mastery over money. This is your sure path to become a money master.

It’s a new day for you!

Now that you are ready to become a money master, it is expedient for you to get financial education. I would, therefore, recommend you get this my book. The book will help you lay hold on what you need to do to take command in the world of money.

FINANCIAL FREEDOM: How To Generate Income For Life Without Ever Having To Work Again, is a  book that is loaded with universal, time-tested, and proven principles of financial freedom.

It’s a book that will definitely add value to your life and change your financial story for good.

Get a copy here

It’s your turn to enjoy financial freedom.

To Your Prosperity

Sharon Akinoluwa

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