The most profitable niche on YouTube is content on how to make money online. The second most profitable is content on digital marketing. The third most profitable YouTube niche is content on personal finance and making investments. Do you see the pattern here? There is a high demand for content related to money or finances. That is why you often see us discussing this subject a lot. It is borne out of always wanting to keep you informed to build healthy finances. Today let us look at money or financial lessons that should inform your lifestyle.

Money Is A Tool

We recently published an article on 3 ways to rewire your brain to make more money. I highlighted that many people have negative emotions or mental strongholds towards money. By mental stronghold, I am referring to lies one would have established in their thinking. Examples of such lies are that being rich is evil, money is evil, or money is the root of all evil. Money in itself is not necessarily good or bad.

How you earn it and use it is what gives it expression. Money, in essence, is a tool. This also implies that you should use money, not the other way around. Many people struggle financially because they have not realised that money should be a tool. Many people are tools in the hands of money, a sad reality! As P.T. Barnum once put it, “Money is a terrible master but an excellent servant”.

Money Flow Is A Function Of Certain Rules Or Principles

The universe we live in is governed by laws and principles. For instance, if you jump, you are bound to come back down. This is because the law of gravity will be at play. No matter how emotional you may get or even if you try to ignore it, that law will be at play. That is the same with money or finances. Money is a currency, meaning it is a current; it flows. The intensity and direction of its flow is subject to certain rules or principles. Once you understand those rules or principles, you can manipulate money to your advantage.

Remember, money is and should be a tool in your hands. That is why an understanding of the law of gravity has led to innovations that break free of it, e.g. air travel. The same applies to money or finances. Do not be emotional or wishful when it comes to desiring money. Seek to understand the rules and principles that govern money and act accordingly. Money is intelligent; it always responds accordingly to either the observance or violation of money rules and principles.

Money moves from those who do not manage it to those who do” – Dave Ramsey.

Financial Success Needs You To Come Up With Your Own System Within A System

This aspect is tied to the one we just discussed. You live in a world system that operates a certain way. Many people do not take the time to grasp how the world’s financial system works. Very few intimately understand monetary and fiscal policies. For instance, do you understand how the financial system works in Zimbabwe? Granted, it is most unfair and cannibalistic on the ordinary person but do you at least understand how it works? Whatever money you make is subject to that system.

How much you even make is a function of that system. If you can understand the inner workings of that system, then you must build your own system. I am talking about legit ways of cushioning your money from the predatory financial system. That is why you need to understand it first. Once you do, you can figure out how to build your personal financial system. For example, starting an inflation-proof business or building multiple income streams. These are ways of building a personal financial system within a system.

A Salary Is A Starting Point

At times I see some people shunning day jobs. I have seen some people ridiculing others who are living on salaries. That may be harsh in most cases because a salary is not wholly bad. What is important is realizing that a salary is and should be a starting point. A salary should not be a destination. As in, you must not confine your existence to a pay check to pay check lifestyle. Take advantage of your salary to build a pedestal to a higher financial status. This means it should be a temporary stepping stone once you start a job. Do not settle and stop dreaming. A salary in its DNA is never designed to get you into wealth. Thus you must always take a salary as the starting point to a better destination. That is why the next point is important.

Successful Businesses Are Pertinent To Wealth Creation

You need to start a business at some point, even more, if possible. That is the key to wealth creation. View salary stages as opportunities to raise capital for your business journey. Salary stages are opportunities to acquire knowledge, skills, and practical experience. You can even start a business whilst still on a salary somewhere. Then if need be, you can transition to business full-time. Never prematurely leave a day job. The bottom line is that if you want to create wealth, a salary will not cut it. Becoming a business person is the way to go.

There is so much more we could have discussed today. The subject of money or finances is pertinent, and I am passionate about it. In closing, remember that high income does not always equate to wealth. Remember also that how you earn and sell your time matters immensely. Cash flow assets are more important than earned income. Appreciate that compounding capital gains are more important than income. Lastly, you must know that paying less tax can be done legally.