Friday, 17 January 2014

Investment goals for 2014 that can change your life and the way you think

Posted at  21:32  |  in  Finance

The very first thing that most people think of while speaking about investment is the stock market, mutual funds, forex market as ways of building wealth and becoming rich. With the large number of people who are not being satisfied with their day job, they’re all turning to the investment industry but little do they realize that the most important step to take in order to invest your dollars and make money is to invest in yourself. Investment doesn’t always mean that you have to invest in some kind of assets to make money. It is also possible to make money by investing in yourself. Here are some investment tips that you can take into account if you want to reach your financial goal in 2014.

1. Take immediate steps to trigger off your debts: If you’re someone who has incurred an overwhelming amount of debt and it’s dragging you down and keeping you from obtaining your goals, you should immediately chuck off your debt from your financial plan. The different kinds of debt need different kinds of treatment and when it’s credit card debt, you need to pay it off as soon as possible. If you keep the high interest rate debt spiralling out of control, you will soon find yourself drowned in a quagmire of debt. Hence, in order to see big results in building wealth, you should save for the future and for that you need to bid goodbye to debt.

2. Repay your bills on time
: Yes, this might seem to be the simplest tip as paying your bills on time is perhaps the simplest task for you. But yet unfortunately, very few people can actually pay their bills on time and avoid hitting their credit score. For starters, paying your bills on time will protect your score and this will help you get approved for mortgage loans at an affordable rate. You will also need a solid reputation of maintaining your bills in order to bag a good job with a reputable employer.

3. Find a like-minded community to be with: Do you think that you presently don’t have an encouraging group of supporters? If answered yes, then it’s high time you find one. Experts say that you are the average of the 5 people with whom you spend the most time with. So, whom are you surrounded with? If you wish to become an eventual millionaire and also maintain a striking balance between your work and personal life, you should be inspired by some people. Make sure you flock around with people who are of the like mentality.

Therefore, if you’re harbouring the wrong idea that investment only deals with investing in the different assets, you’re wrong and hence you should update your knowledge and start taking steps to invest in yourself. Learn from the investment mistakes that you committed in 2013 and try not to repeat them in 2014 and face the same consequences.

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About Author

Jimmy Simond is founder of wallstreetsfinancenews.com he share his immense knowledge of finance in this blog. You can follow him on Google+.

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