How does money bring money?

Money Money is a popular proverb that we often use when it comes to investing or starting a new business ; But have you ever considered the concept of making money? Do you believe that you can make more money with money? If you want to get acquainted (gain, obtain) with present-day techniques that came from Money , you need to read this article to the end.

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Why do they say money makes money?

The most important reason that the use of the term money makes more and more every day is the possibility of investing with money. If you have little capital, you can start a business with it. Then you make more money through it. For example, a person who now has a capital of 100 million tomans, can start a store with it. Then offer your own or others’ handmade products in it. It can also use this amount of money to procure raw materials to build a product. Then make the product at home and sell it at a reasonable price in the market.

If you have no money and no capital, you have to take out a high-interest loan to meet your needs. Once the money is received, you will have to repay the loan with interest. If you start a business with that loan, you will make a profit; But if you spend money on something other than business, you will lose your current money. For example, a person who is unable to pay for his illness has to take out a debt or loan. He has to pay more interest as money to get it. But imagine a situation where the person has enough money to pay for their treatment. In this case, not only does he not need a loan, but he can be hospitalized with health insurance before the disease progresses, and he can pay less for his treatment. In fact, money allows you to buy better insurance, facilities and conditions. Some opportunities are created with money alone. A person who does not have the money to pay for insurance has to pay a lot of money for treatment. A simple example of this is those who are unable to pay for their own dental restorations. If they repair the damaged tooth in the early stages, they do not have to pay for a dental implant later. Having money can save you extra money.

How can we get rich with money?

When it is said that money makes money , it does not mean that if a person has money , he will definitely become richer in the future. In this regard, if someone does not have money today, it can not be said with certainty that he will be like today and maybe worse in the future. Rather, along with the famous phrase money makes money, it should be said that financial intelligence and the will of people have a great role and importance in their becoming rich or poor.

You may have read the stories of many successful and wealthy people. Only a handful of rich and successful people have always been rich from the beginning. Many of them have started from scratch. Look at the lives of people like Mark Zuckerberg or Steve Jobs. They were not rich from the beginning. Even people like Jack Ma and Warren Buffett did not have legendary fortunes from the beginning. Rather, financial intelligence and effort have made them one of the richest people in the world. If you want to make money, you have to find ways to get rich. There are many people who are given a lot of wealth; But due to lack of financial intelligence and extravagance, they lose their wealth over time. There may be people near you who live in wealthy families. They inherit a great deal of wealth; But because they do not have the ability to raise capital and the talent to use money properly, they lose their capital after a while.
If you want to know when money makes money from a slogan to a reality, you can use the following tips.

1. Use your skills to increase capital

Undoubtedly, each person has a set of skills and talents; But some are not able to discover this skill and that is why they consider themselves artless. If you are good at a particular job like business, look to develop it. Learn business science with the latest techniques in the world. Then use your skills to increase your available capital. Here we recommend you to be at the top in a specific field. It does not matter what your particular skill level is. You may also be capable of raising poultry or beekeeping. The type and subject of the skill does not matter. What matters is the skill and quality of your service and product. You just have to be more discriminating with the help you render toward other people.

Be sure to read this article: How to become a millionaire?

2. Start saving now

Another important tip for converting more money is savings. If you have never shot one you owe it to yourself to give it a try. Even if your money is small and, to save you. Having a savings (albeit a small one) encourages you to save more. Having a bank account will increase your incentive to save. Low money today is the foundation of your future capital. Build this foundation now. Of course, you may not make much profit in the bank; But once money is saved in the bank, your mind does not go to spend it. On the other hand, you are more willing to increase your savings. Even if your profit margin is 1% in a month, it will notice changes over time. This amount of profit is seemingly small; But after a few years, you can buy a property with your savings.

3. Avoid thinking about money

One of the reasons many people fail is because they value money too much. So that the thought of money occupies all their minds. This group, because they value money, their services and products are affected by financial gain and loss, and customer satisfaction is not important. In this case, if there is a lot of money involved, they provide quality services; But if they know that they are not going to make much profit, they will reduce the quality of their work. Maybe in the short term this group will make a lot of money and profit; But due to customer dissatisfaction, they do not make a profit in the long run. So money for this group does not reach the field of action.

4. Develop your assets

Another way you can increase your assets is through asset development. If you now live in a 100-meter house, try to buy another 150-meter house in a better neighborhood. You can open an account on bank loans to develop your assets. For example, you receive a loan of 200 million tomans from a bank. Then you sell your current property for 150 million tomans. Combine 150 million from the sale of a house and 200 million from a loan, and with the total, you buy another property worth 350 million tomans. Then, with a small amount of capital, repair the new property and sell it for 450 million tomans. With this technique, your capital will increase by 100 million Tomans. Of course, to buy and sell a property, you must also pay attention to market conditions and economic situation. Without proper research and information, you may be harmed.

5- Making a portfolio

Another way to make money is to constantly invest in stocks. Then you reinvest the dividends and you will get a lot of wealth with it. Of course, if your stock makes a lot of progress, your money will multiply. Of course, some people who do not have the skills to choose a stock portfolio may also lose their capital. Stocks bring a lot of profit in the long run and are accompanied by more liquidity. The fall of the stock market means a buying opportunity for those who have strong cash and nerves.

6. Start a business

If you have some money and you want to use that amount of money for business, think about starting a startup . Startups are booming these days. With this method, you have a lot of potential for success and getting rich. For example, you can launch a food service application. In this case, users can register in your application and announce their food to restaurants from the program menu. An online store is another way you can sell a product. Internet commerce gives you a lot of opportunities. At the same time, you do not need to rent a building, pay taxes, pay for water, electricity, etc.

Be sure to read this article: How to have a rich mind? 3 factors affecting its formation

7- To convert money into money, you must reduce costs

One of the most common mistakes many people make when they are not able to make more money is to pay too much. If you have a lot of expenses, even if you have enough money, you will not be able to invest and start a new business due to the high cost. As a result, your money will only be spent on today’s needs. But one great way to increase your wealth is to have enough. If you are satisfied with what you have, you do not need to spend a lot of money on unnecessary items. In return, you spend your money to earn more. To find out how much you spend and how much you earn each month, create an Excel sheet and then write down the amount of assets in one part and the amount of expenses in the other part. Gradually set aside some unnecessary expenses. For example, do not buy items such as perfume, extra clothes and shoes this month. In return for the amount of money that way Saves , take notes. Reduce some of your expenses each month. At the end of the year, you will have a large portion of the extra costs and more savings. Now with this savings you can have a business.

8. Invest wisely

Investing is a risk; But if done right, it can be a great opportunity. For example, you invest in a talented but moneyless artist. After he has achieved relative success, he shares the profits from the work with you; But if this person does not succeed in his work for any reason, your capital will be lost and you will not gain any profit; Therefore, you should be careful in choosing the place of investment and consider all aspects.
Talk to financial experts and advisors to increase your chances of investing. Warren Buffett is one of the richest and most successful investors in the world.

“Those entering the investment arena for the first time should not invest all their capital in one go at once. Rather, it is better to spend only 30% of your cash to buy short-term bonds and 70% of it for another job. If you lose in the first case, only 30% of your capital is wasted. “If you lose in the second case, you have 30% savings.”

9- Buy time with money

Money brings money It actually works when you can buy time with money. This means speeding up your work by paying more specialists. For example, a small production workshop that works with old manpower and equipment; However, due to the obsolescence of the equipment, this workshop will offer few products to the market; Because it does not have enough time and energy to produce more product; But if the managers of the same workshop buy modern equipment and devices, they can increase the speed of production of their products. Increasing more products in less time means buying time. If we assume that this workshop produces 10 tons of product per week with old machines, now with advanced machines it can produce 10 tons of product in one day; So for each day, he bought 9 days of time. Buying time is possible with money and investment.