For god sake, stop talking about "how to make money" for 30 seconds

24 replies


Well, everyday I read new thread on "how do I made bla bla dollars per day".

Ok, there are good, really.
But, for 30 seconds, let we see in different angle.

Instead of, "how to make money", we shouldn't forget about, "how to retain money".

My own story.
1. I made some money.
2. sometimes big, sometimes not
3. the problem was, I made money and finished it
4. I read a wise word from Albert Einstein (if I'm not mistaken), "Dollar save, dollar earn"
5. Starting that day, I being frugal (not stingy).
6. buy only things that I need, not I want
7. For things I want, I put it into my "Reward List"
8. For my own motivational momentum, I have personal target, sales, affiliate, lead etc, when I achieve that target, I reward myself with things I want

Tell you what, I started IM since 2005.

If you ask me, how much money I made online since, I'll proud to say some 7 figures, but If you ask me, how much money left in my saving (investment), I'm afraid I can't tell how much.

MONEY MANAGEMENT, that the word.
In my opinion, IM must have proper money management.
Start learning and save money.

ps : I learnt about this money management last 2 years, since then, my saving gradually increase and my investment portfolio increasing too.

There's nobody to remind me about this back then.
I rarely see IM talk about this (maybe I'm wrong).

So, I hope, with this little reminder, we all will can retired early. ^_^

Thanks for reading.

Regards;
Raja Kamil a.k.a RK
#god #how to make money #sake #seconds #stop #talking
  • Profile picture of the author Josh Monroe
    If your a newbie on the come up, READ EVERYTHING Raja just said, then re-read it again.

    As soon as you start making the "big bucks" you start spending and things you don't really need, then at the end of the year when you add up how much you made, but then see how much you've still actually got..it's a heart breaker!

    Money Management indeed.
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    • Profile picture of the author David Moore
      instead of discussing "how to make money" lets talk about "how to make use of my money to make money" well that is too long, oh wait, that is just the same. anyway, we should save our income for long term income, and income that is so passive, we don't have to do anything at all after we set it up.
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  • Profile picture of the author mikeac
    Good Stuff, I hope alot of people take what Raja said seriously. This is golden
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  • Profile picture of the author kencalhn
    "it's not how much you make, it's how much you keep"
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  • Profile picture of the author iwowwe4you
    As more you earn, as more you need... in fact you do not need even 1/10 of the stuff you buy, but because you have money you need it, lol. I need a new car... Why? Because I saw something that I like more than the one I have now. Do I need it... Well, yes of course, lol. I don't think there is a huge problem with that if I add to my saving account half of that what I earn and spend the rest the way I want even if I have 10 aeroplanes standing in my garage, lol, and I wand one more (I don't have aeroplanes in my garage).
    But to be serious... In most of the businesses you earn as long as you work and think about the time when you will be old enough and not able to work any longer. It would be great to have a good amount of money storey a side to feed you for 30 years or so. Also I think you want to leave something for your kids when you have to go. Be cool... Be cleaver...
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    Happy to share 18 years experience in MLM/IM. Not doing any other work for over 7 years now. Accredited as a coach by 3 companies I worked with after completing a course of education and passing exams. HND in Business, Economics, Accounting, Market Research, Market Development, Management.
    Love to Learn - Love to Teach!

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  • Profile picture of the author sbucciarel
    Banned
    Well ... you can't really "retain" money unless you first "make" money.
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    • Profile picture of the author iwowwe4you
      Originally Posted by sbucciarel View Post

      Well ... you can't really "retain" money unless you first "make" money.
      true, but he told he made 7 figure income, so he surely have what to "retain".
      Signature

      Happy to share 18 years experience in MLM/IM. Not doing any other work for over 7 years now. Accredited as a coach by 3 companies I worked with after completing a course of education and passing exams. HND in Business, Economics, Accounting, Market Research, Market Development, Management.
      Love to Learn - Love to Teach!

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  • Profile picture of the author MartinPlatt
    I absolutely agree with what you're saying... But to spend money you have to earn it.

    I think read the richest man in Babylon if you want ideas on money management. How to save, spend and pay off debts all at the same time...
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    Martin Platt

    martin-platt.com

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  • Profile picture of the author JasonBennet
    Good advice. The skill of making money and retaining money is different. Both set of skills are equally important. Now I constantly remind myself to set aside a certain percentage of my profits back to my online business so that I will be able to grow it. Saving a certain percentage of the profits as saving is also a good idea as it is always good to be prepared for anything that can happen in the future.
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  • Profile picture of the author khaiez
    Well said. Money management is the word. There is not have been discuss in Internet Marketing world as I think it is personal I guess?

    I've learn a lot from your blog and facebook post.It is inspire me.
    Terima kasih

    khaiez
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  • Profile picture of the author Raydal
    Just a few days ago I watched he ESPN documentary
    Broke about athletes who make millions
    and are broke within 2 years after retiring from the
    sport. It's an interesting take on how easy it is
    to spend money when it comes by too easily.

    A lot of sad stories of those athletes who didn't
    manage their money well.

    -Ray Edwards
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    The most powerful and concentrated copywriting training online today bar none! Autoresponder Writing Email SECRETS
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  • Profile picture of the author betterwtveter
    A story is great, but taking action and getting the results happen are what makes a motivated marketer want to keep going.
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  • Profile picture of the author HarrisonJ
    Well this is a forum where we talk about making money. Sure, saving money is good too. But you gotta be able to make it to save it.
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  • Profile picture of the author tpw
    I think you are confused about the purpose for this sub-forum.


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    Bill Platt, Oklahoma USA, PlattPublishing.com
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    • Profile picture of the author SEOAiko
      Originally Posted by tpw View Post

      I think you are confused about the purpose for this sub-forum.


      Right. Perhaps, it may fit in here

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  • Profile picture of the author jentheray
    There is an expression that I learned, "Don't work for your money, make your money work for you." Can't tell you how true this is. On a practical level, I recommend setting financial goals, if you don't set a target you don't hit anything. Always have a plan B. Don't expect the same model to keep working over and over again. Models stay similar but little things change all the time. Change with the changes, use them to your advantage, and always set goals. Save your money, and treat your time like the true asset it is. Time management optimizes your money making potential.
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    • Profile picture of the author Raja Kamil
      Originally Posted by jentheray View Post

      There is an expression that I learned, "Don't work for your money, make your money work for you." Can't tell you how true this is. On a practical level, I recommend setting financial goals, if you don't set a target you don't hit anything. Always have a plan B. Don't expect the same model to keep working over and over again. Models stay similar but little things change all the time. Change with the changes, use them to your advantage, and always set goals. Save your money, and treat your time like the true asset it is. Time management optimizes your money making potential.
      I'm not sure how about US, but here at Malaysia, we have mutual fund that give at least 5% interest from your fund (according to 20 years history)

      My calculation is simple,
      my lifestyle not so high, so I just need around $4k to $5k per month.
      What I'm going to do is, to have a fund that will give me at least $48k annually from interest.

      That mean, to have interest that much, $48k annually, I must have $1m fund.
      Well..... not easy, but at least I have some directions


      ps : the calculation above is just simple calculation, and not done thoroughly, I should have included few things more into calculation
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  • Profile picture of the author Danit98765
    Hi,
    I agree that money management is super important. I also believe you should invest your money rather just spending it (real-estate, stocks etc...), but I also believe that there is nothing wrong with talking about making money. This isn't something they teach you at school, and when you are apart of a great forum such as the worrior forum, you have a huge group of people that have the same goal as you which is-MAKE AS MUCH MONEY AS YOU POSSIBLY CAN! It's true that money saving and management are an important part of it, but this is IM forum and not money management forum. And if you are not saving your money as an employee you won't save it as internet marketer. But good for you for mentioning the importance of money managemet, it might help some people By the way, I believe that a big part of the forum members read "POOR DAD, RICH DAD" which talks exactly about this and about the importance of passive income.
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    I'm willing to help people make their fortune online. Send me a message if you are interested and I will show you exactly how! Remember, you can't win unless you try.
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    • Profile picture of the author tz6119
      It's not so much about how much you make it's about how much you keep. Make sure what you keep you send out to work for you making more money.

      Money earning interest in a bank account is the most basic form of passive income you can get.

      You can then enjoy some of that passive income on the finer things in life knowing that the money your worked hard for is now working for you.
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  • Profile picture of the author Youronlinestuff
    i'm sure people would much rather have the problem of how to keep onto their money than the problem of not being able to make any money at all
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    • Profile picture of the author tz6119
      Originally Posted by Youronlinestuff View Post

      i'm sure people would much rather have the problem of how to keep onto their money than the problem of not being able to make any money at all

      For sure the more you make the more you can keep.
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  • Profile picture of the author himanuzo
    Anyone must know about how to make money on the internet, be in positive thinking and take action.... Then the money will follow you.
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  • Money management kicks in when you already have a capital, thus capital preservation and management is crucial.

    But the reality is that most people in this forum dont have a large capital and thus money management is pointless. At these early stages, it is all about capital generation, not preservation.
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  • Profile picture of the author sarahAttkinson
    Banned
    I do not thing people will ever stop asking this question, do you? :-D
    Unfortunately we tend to forget other important aspects of the matter. But yes, you are right. We should try and look for ways of "retaining" what we have got.
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