Whether you know it or not, right now you have a lot of potential employees at your disposal. Probably hundreds, or even thousands of them – all just waiting to help you! They’re called dollar bills and every single one of them is ready, willing, and able to go to work for you right now with the sole purpose of making you even more dollar bills.
Your dollar will only work for you under these five conditions.
1. A dollar will only go to work for its master. If you choose to spend your dollar, it can no longer work for you because you are no longer the master.
2. A dollar sitting idle in your pocket or checking account will become less valuable over time; your dollar must be put to work in order to make more money.
3. A dollar can only work for you if you put it to work. You do this by investing it in something like stocks, starting a business, or buying real estate. Dollars aren’t picky where they work, but they need to be invested in order to go to work.
4. Eliminating high interest debt is effectively an investment. If you’re paying more than 7% interest on a loan, then you need to generate more than 7% in growth, otherwise you’re dollars aren’t working as efficiently as they could.
5. Possibly the most important thing to remember when it comes to putting your money to work is the principal of compound interest. Ben Franklin said it best: “Money makes money. And the money that money makes, makes money.”
If you’re like me and are looking to reach financial freedom ASAP, then start building up your army of employees!
The more employees you’ve got, the more you’ll make and the faster you can reach financial independence.
Are you building your army? Do you think of your money as employees that get fired every time you spend them? Please leave a comment and let me know!