‘Boring’ Yet Phenomenal Money-Making Tips That Will Take You A Long Way
Gen Z, who is rapidly making their way into the workforce at a tender age, is tech savvy, tolerant of diverse cultures, and more amenable. Moreover, breaking the stereotypes is definitely their tagline!
Now, while it’s great to do away with the age-old modus operandi and embrace the new, it might hit like a boomerang in certain cases. One among such cases is managing money. Youngsters are going all haywire following the advice given by contemporary finance influencers who suggest they “figure out their own path”. They’re opening and closing multiple accounts, investing in hot stocks, and selling them at the initial sign of bad news, aka – unnecessarily messing with money.
But is that really the way to go? Is that the best strategy to build a sound financial future? If not, what’s that secret formula to be a financial wizard?
Experts recommend the following tried and tested methodology which has yielded fruitful results over the years, that is, the ‘boring’ technique of leaving the money idle. Why do they advise so? Let’s find out.
It gives you more time to check off your bucket list
Avicii rightly says, “One day you’ll leave this world behind; so, live a life you will remember”. Considering the unpredictability of life, who knows what will happen tomorrow? So, there’s hardly any time to afford mistakes.
Managing your money is indeed a necessary chore, but that isn’t your entire life, folks! Why trap yourselves in the net of complex investments? Remember, the more you jump in muddy puddles, the more you stain your clothes. So, reach the summit, make money, but leave it absolutely idle for a while. This will provide you with ample time to check off that bucket list you made in your teens!
It constraints you from taking impetuous decisions
Newer methods require you to always stay alert of your notification bell. The outcome? Stressing over new stock market trends, taking a peek at the investments every now and then, and making rash decisions that have long-term effects.
The ‘boring’ method, on the other hand, keeps you from checking round-the-clock financial notifications and shoos away stress. So, hear out the experts who suggest turning off stock market alerts on your phone, taking a look at your investments only occasionally, and be chary about watching the news and staying updated.
And now that you know the reasons for sticking to the traditional technique, you must be wondering about the tricks to follow that. Don’t worry! We are here to help you with that.
#1 – Design a plan that motivates you to stay on track
No matter how perfectly planned your budget is, it can all go in vain without a plan. Experts believe that planning is reassuring. So, explore your tastes and chalk out the short, medium and long-term goals of your life. In that way, all your exciting future goals will keep you focused and keep fear at bay.
#2 – Always be prepared to surmount the unforeseen contingencies
Apart from planning your goals, always have emergency funds and life insurance in your kitty. This will help you to battle with any kind of quandary life puts you in.
To wrap it up
We’re always dealing with some kind of stress whatsoever. Why add some more by engaging in convoluted ways of money management? Hence, follow your grandpa’s footsteps and manage your finances in his ‘boring’ (read: top-tier) method and achieve nirvana!
More in Pocket Change
Toyota Just Shared Its Five-year Plan About Making Hybrids Less Expensive And More Efficient
Since 1990, when Toyota came forward with its widely known Prius, it has become the most prominent and extraordinary auto-making company...April 23, 2021
This Is Why Elon Musk’s Aerospace Venture SpaceX Was Planning to Destroy One of Its Own Rockets & What Stopped It From Doing So
Space launches are no joking matter, especially when the consequences of failure may mean the death of those involved. There’s the...April 11, 2021
‘Captain Marvel’ Star Brie Larson Just Went On a Real Estate Shopping Spree & These Are The Stunning Properties She Got
Being on the Marvel bankroll is a lucrative job and award-winning actress Brie Larson is proof of it. The 30-year-old has...April 3, 2021
Hey! Did You Attend The GMIT Virtual Careers Fair?
Are you seeking a job right now? If yes, you must be aware of some of the recent career fairs. Today,...March 22, 2021
Fashion Icon Tom Ford’s Former Home in London Sells for a Hefty $17.5 Million
Fashion designer and filmmaker, Tom Ford’s, has quite the professional exposure under his belt. With a career that started way back...March 15, 2021
Thinking of a Career Change At the Time of the Pandemic? Here’s What You Need to Know
There may be no better time to think of a career change than now. After all, the uncertainty brought about by...March 9, 2021
Biggest Real Estate Industry Myths, Debunked! Plus, How to Start a Career in this Lucrative Field
Not many fresh graduates would consider real estate as their first career choice since this industry was branded as unstructured and...March 5, 2021
This 37-year-old Makes $100,000 in Austin, But Lives In His Truck And Rents Out His Condo For Extra Money
Bryce Dishongh never had a desire to become a homeowner. However, as his rent surged up every year, he grew weary...February 23, 2021
How to Make To-Do Lists Work For You and Get Things Done
When you’re overwhelmed with so much stuff to do, one of the ways most people turn to organize their life is...February 17, 2021