MONEY BOSS CLUB

📶 Make More Money

Join the Money Boss Club on Telegram now! https://t.me/moneybossclub How to make more money There are several ways to earn more income. Work hard This is one of the most common ways to earn income. By working, you can earn a regular salary or wage, and the amount you earn depends on the number of hours you work and your level of expertise. To increase your income through working, you have these options. You can work more hours You can ask for a salary raise You can learn new skills and become more valuable to your employer You can ask for a promotion an take on more responsibility Sell stuff you don't need Clean out your old clothes, electronics, or furniture and sell them online or at a garage sale. Rent out what you have extra Got a spare room or a fancy camera? Rent it out to make some money. Get paid for your hobbies Do you love to fix things, write, or design? Websites can connect you with people who will pay you for those skills. Make and sell crafts Are you crafty? Make things like jewelry or baked goods and sell them online or at fairs. Teach what you know Are you good at something? Share your knowledge with others by making online courses or giving lessons. "Give to others, and you will receive. You will be given much. It will be poured into your hands--more than you can hold. You will be given so much that it will spill into your lap. The way you give to others is the way God will give to you.”  Luke 6:38

🏡 The “I want a house” trap

Join the Money Boss Club on Telegram [https://t.me/moneybossclub] ”I want a house on my own land”. I hear this everywhere I go. Before we go into if and when this is a good idea, let me ask you, who has put this idea in your head? I know who shouts this the loudest - the banks and loan finance companies. They put up big posters and advertisement on social media of the new home and make it clear, that you have been dreaming about this all your life.  Did you ever ask yourself why the banks have the best locations and the nicest office buildings in every city?  Why they pay good salaries and the owners are the riches people in the country?  The reason is simple. They tell you that you need a house and a land and they will provide you with a loan. They pretend to help you follow your dream, but in reality they will make you a slave and you are working hard to make them more money. A house and with a little bit of land is can easily come to $80’000. Every bank is happy to give me a loan to buy it. The reason is the bank always wins. If I pay off the loan in the next 15 years the interest I have to give the bank about $40’000. I worked for the land and house that is worth $80’000 when it was new, 15 years ag o. I also worked very hard to pay an extra $40’000 to the bank. Now the house is ready for repairs and I am tired of working for the bank and have nothing saved because my payments for the loan where so big that I had not money to save. For sure the bank is now very happy to give me another loan to help me repair my roof, well and repaint my house. I take another loan and continue to work for the bank. Now I am broken, angry and frustrated and regret my choices. Why in the world did I ever needed this house? Now I know, a house is a liability not an asset.  Let me tell you there is a better way to have a house and land without the punishment of paying interest and falling the into the loan trap. I now know about the power of compound interest and I know that I will let the bank work for me. I rent a small place and make a saving plan for the next 10 years and put $450 into a long term account with 8% interest. You know what is crazy? I will have saved $54’000 and the bank has given me $27’000. I love it when the bank works for me. I want the bank to buy me a house. When I move into my new house on my land it is payed off. Now I can continue to save $450 for my next goal. I am not in debt. I am free! If repairs come in 15 years, I am ready. There is nothing wrong with wanting to buy land and a house. But there are good ways and bad ways to do it.  Make a smart decision and don’t waste your money.  Before you take a loan play with this website to clearly see how much interest you will pay for borrowing money.  https://www.nerdwallet.com/calculator/loan-calculator [https://www.nerdwallet.com/calculator/loan-calculator]

👑 Prepare Your Retirement

Join the Money Boss Club on Telegram [https://t.me/moneybossclub]  Imagine yourself at the age of 65 years old. Picture yourself relaxing, drinking a nice cup of tea and watching your grandkids play in front of your house. No worries cross your mind. The kitchen has more than enough food for the whole family. As you watch your kids, your mind thinks about the next birthday gift for one of the grandkids. A smile appears on your face as a result of thinking back on the smart decisions you made, preparing yourself with a financial plan to secure your retirement. Your retirement is your future To securely prepare yourself for retirement, the best tip I can give you is to start as early as possible. The earlier you start, the easier it is. If you start saving for your retirement at the age of 20 you have 45 years to accumulate savings. The monthly savings will be very small. Let’s say you have a salary of $300 and you put 10% ($30) into your retirement. In the first year you will have $360 saved. Your salary will increase and the interest in your retirement account is starting to compound. If your salary doubles every 10 years you will have more than $250’000 in your retirement fund. If you stop working at the age of 67 you don’t need to worry about asking your kids to support you. You will have enough until you  are 90 years old. Let’s play with this savings calculator:  https://www.nerdwallet.com/article/banking/savings-calculator [https://www.nerdwallet.com/article/banking/savings-calculator]

🧨 Get Out Of Debt

Follow the Money Boss Club on Telegram [https://t.me/moneybossclub] Pov was a teenager who felt a lot of pressure to fit in with  his friends. All of his friends had recently bought new motorcycles, and Pov felt like he needed to do the same in order to be cool. However, Pov didn't have the money saved up to buy a new motorcycle outright, so he decided to take out a loan. The loan had an 18% annual interest rate, which meant that Pov would have to pay a lot of money in interest over the life of the loan. Despite this, Pov felt like he had no other choice if he wanted to keep up with his friends. The payment structure for a loan of $2500 at an 18% interest rate over 36 months would consist of 36 equal monthly payments of approximately $86 each. A few years later, Pov ran into his old friend Piseth. He had also wanted to buy a new motorcycle but decided to save up for it instead of taking out a loan. He had put the same amount of money that Pov was paying each month towards his loan into a savings account with a 7% annual interest rate. When they compared their situations, Pov realized that he had made a mistake by taking out the loan. He had ended up paying a lot more money in interest than Piseth had earned in interest, and he still had a long time left to pay off the loan. Piseth, on the other hand, had been able to save up enough money to buy a new motorcycle outright and had even earned some interest on his savings. Pov took a loan of $2500 with an 18% interest rate and paid it off after 3 years. Therefore, Pov paid a total of $1350 in interest over the 3-year period to repay his loan of $2500. In only 3 years he paid $3850 to the bank. And after 36 months of paying $86 each month, he now has $0 in his savings account. Piseth has approximately $3783 in his bank account, considering both his savings and the compound interest earned. Now Piseth buys his dream motorcycle. He continues to save $86 every month to buy something nice for himself in the future. Pov felt frustrated and regretful, but he also learned an important lesson about the importance of saving money and avoiding debt. He realized that he had been too focused on fitting in with his friends and hadn't thought about the long-term consequences of his decision. From that day forward, Pov made a commitment to be more mindful with his money. He started tracking his expenses, creating a budget, and saving money every month. Although it wasn't easy, Pov was determined to become financially stable and avoid making the same mistake twice.

🏆 The Mindset Of A Champion

Join the Money Boss Club on Telegram [https://t.me/moneybossclub] Never give up Lionel Messi is one of the greatest footballers of all time.  He has won the Ballon d'Or award a record 7 times, and he has helped Barcelona and Argentina win numerous trophies. However, Messi's path to success was  not easy. When Messi was 10 years old, he was diagnosed with growth hormone deficiency. This meant that he would not grow as tall as other boys his age. However, Barcelona was willing to pay for Messi's treatment, and he moved to Spain to live and train with the club. Messi continued to grow as a footballer, and he made his Barcelona debut at the age of 17. He quickly became one of the best players in the world, and he helped Barcelona win numerous trophies, including the Champions League. In 2016, Messi led Argentina to the final of the Copa América. However, they lost to Chile in the penalty shootout. Messi was devastated, but he vowed to win a major trophy with Argentina. In 2022, Messi finally achieved his dream at the age of 35. He led Argentina to victory in the FIFA World Cup. He is the oldest player to ever win the World Cup. It was a historic moment for Argentina, and it was a testament to Messi's never-give-up attitude. Messi's story is an inspiration to us all. He showed us that anything is possible if we set our minds to it and never give up on our dreams. He is a true champion, and he will be remembered as one of the greatest footballers of all time. In addition to the challenges mentioned above, Messi also faced discrimination because of his size. He was often called names and told that he would never be a successful footballer because of his height. However, Messi never let this get to him. He continued to work hard and prove everyone wrong. Messi's story is a reminder that we should never give up on our dreams, no matter what challenges we face.