Won millions in Lotto (lottery)? Caught a million dollar suitcase fallen from the sky? Discovered piles of case in the trash? Now you’re asking yourself like most instant millionaires asks, “What will I do with these great amount of money?”
There are 3 ways to use your money: SPEND, SAVE and GROW.
SPEND
There are thousand ways to spend your money: Buy your dream car like Audi R8, go on to your dream vacation, watch the Major League Baseball and see who will win the baseball trophy, or see whether Arizona State Sun Devils will be back-to-back champions claiming the softball trophy.
SAVE
Before spending, be sure to allot a portion of your wealth to savings. Let’s see.. hmm.. I think 40/60 will do: 40% to savings and 60% to spending. Just put your savings in the bank to earn some interest while you’re still thinking where you would use it (in a more fruitful manner). By doing this, you’re letting your money grow little by little while it sleeps.
GROW YOUR MONEY
You have already consumed the fruits, now it’s time to sow some seeds. In order for you to grow your money, you should learn how to be one of these two types of person: A Business owner or an Investor.
A Business Owner is usually the one who handles small businesses, then eventually evolve it to a large corporation. He sorts out what products to sell or to manufacture. Hires people to work for him. Organizes everything and then putting it all into one system.
The performance or the quality of your business can usually be measured by its revenues, feedbacks from consumers or by corporate awards received.
Investors on the other hand focuses more on playing around with their money. Investors particularly loves the game of investing, usually, in stocks or real estate.
You can be either a business owner or an investor, but you can also be both.
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I hope this post somehow helps all instant millionaires out there to have an idea where to use their sudden gush of cash.
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