Strategies to Manage Income and Get Rich

Who among you wants to be rich and debt free ..? Who among you wants to live abundant blessings ..? We are very sure, if you are reading this article on managing income, you will want to be Rich, Debt Free, live a life full of blessings and abundance. Right..? The question is, how ..?

We will share smart ways to manage your income so that your financial life is according to what you dream of.

The first step you can do is put yourself first, which means setting aside some of your income for yourself, before it is allocated for other purposes. Putting oneself first means placing alms and savings first and second, before other needs. Why..? Let's look at it together.

Under normal circumstances, before you receive income, the list of expenses is lined up long ago. Most people prioritize spending on family consumption needs, paying off bills, paying off debts, and so on, then thinking about savings and alms. In fact, placing savings and alms after paying for other necessities is a difficult thing.

If you want to be rich, once you earn, whatever the amount, put yourself first before paying other people. This is a basic principle, and we must be able to do it.

Paying yourself first means being responsible to yourself before being responsible to someone else. This is because by being responsible to yourself, you can be responsible to Allah SWT. then be responsible to others. Ignoring responsibility to yourself is the beginning of neglecting your responsibility to Allah SWT. and other people.

So, remember! Once you receive income, there are 4 Posts that you must make sure to fill.

1. Alms (minimum 2.5% to 10% of income)

Allocate a portion of your income to charity, whether in any circumstances, in an open or narrow situation. Giving charity when it is narrow is not easy, especially in the midst of debt. However, you know, this is where the real secret is. We are talking about the secret of faith and the secret of wealth that will make our situation much better than it is today. So alms is essentially paying yourself, for our own sake.

2. Saving (Minimum 10% of income)

The main function of this savings is the money that is saved as an investment fund. As soon as you see an investment opportunity, this new fund will be issued. So the 10% you allocate is investment savings. It's not money you collect for others, let alone for fun.

So, once you get an income, no matter how big it is then all you have to do is cut ten percent of it for investment savings. Remember..! This investment savings is your ticket to getting rich in the future. The rich man mentality is the investment mentality. Life is not to be passed up for consumption. Smart people spend most of their time and money on investments.

Investment is an absolute requirement for all humans to be able to live richly. So, investment savings is a top priority that must be allocated first. Not residual income, because there is almost no residue. When you receive income, then you choose to pay someone else first, rest assured that you will never be able to save.

Paying yourself first is a concept, a concept we are building for the future. Investment savings and alms will be a magnet that can increase income. Try and Prove it..!

3. Allocation of family services

The purpose of people building a business or work is to build a good life for their family. From the income you earn, after deducting alms and investment savings, the next post is a post for the family. Make sure your family has a life. Don't let them wrong you. The post for this family is adjusted to the needs. Make sure you are comfortable and your family is well served. This family post should be enough to make our children have a good life, enough recreation, honor and joy.

4. Necessity

This is the last post. Necessity is our daily needs, starting from household consumption, paying bills, debts, and all expenses that are not included in headings 1-3.

This post of Necessity often makes us fall, even makes us lose our lives. Because this post is the most difficult to control. So the real challenge is controlling the necessity post so that we can pay after Alms, Investment Savings and Family Services.

With these four posts, it is easier for us to see which ones actually lead us to build wealth and which ones trap us into poverty. Being rich or poor is directly proportional to the way we manage our finances, not the digits. Congratulations on planning your finances smartly.