The Actionable 🎯 New Year's Resolution That Will Work In 2024!
Target To Not Work For Money 💵 - Rather, Let The Money Work For You!
It's a bit early for the email I'm sending out regarding New Year's resolutions; however, I've never been a believer in them. I've observed that they rarely work and often lack practicality. This is mainly because such resolutions tend to fizzle out quickly.
Instead, I advocate for implementing target-driven processes and taking action as soon as you realize the need. Here are a few pointers to enhance your understanding about your personal finance going into new year:
🏦 Gain an understanding of how banks and other financial instruments work; shop around for better deals!
📈 Recognize that the stock market is not gambling unless you intend it to be.
🏚️ Understand that real estate is not the sole investment avenue.
💰 Consider fixed income as a tool to navigate difficult times (some people also refer to it as "Cash is King")
🧳 Emphasize diversification (asset, geographic & time), but avoid over-diversifying :-)
👨💼 Build your personal brand, it is a long process, but you will reap the rewards in long term. The gadgets I use for this process are listed here & video I created is here.
🔎 Trace & Track your expenses. If you are not doing it, start it - if you are already doing it, go further deep to get better insight. Here’s the video I made a few days back on this.
🧮 Learn how to calculate the ROI for any investment you engage in. If you want to delve deeper into this topic, watch the video below titled "Shortcut to Huge Profits." where I have discussed the superb function within Excel “XIRR”
Working towards your investments and growing wealth is a simple process and does not need major technical literacy - what it needs however, is consistent & positive frame of mind.
REMEMBER
1️⃣ Your income is your top wealth generation tool.
2️⃣ Investments multiply income.
3️⃣ No quick wealth, it takes time.
4️⃣ Increase income if multiplier is slow.
5️⃣ Keep repeating.
Keep yourself surrounded by positive people - apart from many quotes from Warren Buffet, he once mentioned about the late legendary investor Charlie Munger as his companion which is of paramount importance. Follow me on twitter for such content 🙃
Video I uploaded this week are linked below.
About Myself
I post 3 videos every week on my YouTube channel on the topics of productivity & personal finance specifically for expats & in general for wider Pakistani community. Besides this, I update this website / blog on weekly basis so do visit regularly for updates - To get value out of the content, please consider subscribing both the YouTube channel and the newsletter.
💻 Interested in all the gadgets I use on daily basis?: https://walikhan.co/the-gadgets-i-use/
For 1-1 sessions on booking basis with the following core topics of discussion:
Productivity
Personal Finance
YouTube & Social Media
Price for the session can be confirmed by emailing your details at financewithwali@gmail.com & booking can be made with the link: https://calendly.com/wali2k/1-hour-1-1-session
Disclaimer: I am not a financial advisor and consider these sessions for knowledge sharing and discussion only.
My social media handles:
Twitter
Instagram
Facebook
Linkedin
Tiktok
Youtube (Main channel)
YouTube (English channel)
KEEP HUSTLING ;-)