Money – How to Improve your Money Situation | Michael Tabirade #137

In this video, I talk about the importance of money and why you need to take it seriously in your life. I think it is fair to say that many of us are over the fact that people say “money is the root of all evil” or “money is not the most important thing”. To be clear, money does not cause evil, if anything humans do, and secondly, money is important just like many other things are.

Quite simply you need to be aware of what it is you want in life, and tailor your habits in a way that brings in the income to support this lifestyle, and have expenses that maintain it. It’s about organisation and awareness, and how you can manage your habits appropriately aligned to your financial aims.

Money is Important

Man Holding White Teacup in Front of Gray Laptop

It’s pretty clear that you need money in order to function, and understanding the basic economics of money is fundamental to your success. Money enables us to make purchases that give us access to different aspects of our life. Depending on where you live in the world, without money you can quite easily feel how quickly your quality of life will drop.

It’s important to understand how you want to attract money in our life. Therefore before you start thinking you need more of it, it you need to think about your intentions and decide what primary chief aims do you have in life? What are your desires? What are your reasons why in life? These questions will start to form a blueprint as to why you need “the money” in the first place.

Money is based on demand and supply. You need to be able to create a demand, i.e. fulfill a deep need in a segment of the market, and well as supply that demand as efficiently as possible. The better you do this, the more financially successful you will be.

Money and Habits

The basic game is to increase your income and reduce our expenses. This is very dependent upon your habits and how you spend your money. If you don’t know how you spend your money you won’t be able to control your income and expenses.

Discover what you want to spend your money on and what you have spent your money on in the past. This can easily be done in today’s day and age especially with the new money apps like Monzo or Starling. If you don’t have these apps, export a CSV file from your online banking and analyse the information on Excel. Reflection and retrospection is key, especially when you review your financial situation over a number of years.

Money and organisation

Laptop,, Calendar and Books

This information will help you identify what you need to stop spending your money on. You will be able to pick up themes and see what is appropriate in terms of budgeting, apportioning or Saving your income. It’s sensible to make sure that before you make any savings you should pay off your debts. Clear off your loans and debts first and be aggressive with it (but sensible). Organising your money is really important because it minimises any form of surprises.

Fundamentally, you want to make sure you have different accounts attributed to spending, bills, savings, holidays etc.

Money and New Opportunities

You need to get adept at growing your own business, especially a service based business as it is the easiest and most inexpensive to set up. It’s about thinking about how you can attract an audience and provide value to them that can solve specific problems. You can find out how to this via this article here.

At the bare minimum, you should be thinking about whether you should be applying for a new job. You need to decide whether being comfortable at your workplace is actually good for your lifestyle because it helps you focus on your extracurricular activities, or whether you can do better. Your primary aims in life and net income should guide your decision making here.

If you do decide to apply for a new job it comes down to being aware of knowing what skills you have, improving upon those skills and gaining the necessary qualifications, as well organising your CV in an eloquent way that aligns to the needs of the jobs that you are applying for. It also means you need to be good at interview, being confident about who you are and what you have to offer, as well as knowing the industry and/or organisation you getting into.

This year is about making sure you are sensible, practical and you finally crack the code. You know what to do, just break down properly and you’ll be in a very good position for the year.

If you want to be confident about how you can increase your income via a service based business, then check out this free video training on how to get started as a profitable personal brand

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