Do you want to have money in your life? We all want to improve our personal finances, enjoy financial freedom and have clear signs that our future is guaranteed.
However, for this to happen, we must ask ourselves what we are doing today to achieve that dream future.
Your financial freedom is not built in the future, it is built today with your ideas, decisions and actions.
So, if you want an abundant future, it is important that you review how you relate to money, what decisions you are making and how much you invest in your financial intelligence.
Here are some clear signs that you are on the right track and that in the near future, you will have enough money.
1. You like to save a percentage of your money
If you save money, and understand the importance of setting aside a percentage of your income to invest in your “future self”, you will surely have money in the future.
The concept of saving a percentage of your income is the first step required to build solid personal finances.
So, regardless of what percentage of your income you save, just doing it and having that financial habit will give you enough capital to take advantage of investment opportunities.
Start with 5% or 10%, get used to living below your income, and set aside that money for future investments.
2. Your lifestyle is below your income
Put another way, you live below your income. You don’t need all of your income to sustain the quality of life you lead.
When you build a lifestyle below your income, you will not only have money to save and invest in the future, you will also have the peace of mind to take risks, explore new business ideas, and live more peacefully.
How to know if you live below your income? For this you can check how much you use your credit cards, think about how many purchase decisions you make thinking about your next income and not your current one, or how much you care about the image that others have of your quality of life.
3. You are not interested in pretending what you do not have
Truly millionaires don’t wear themselves out trying to show off how much money they have in their bank accounts, and this is a sure sign of having money in the future.
So, if among your plans you have to become a millionaire, the invitation is that you stop pretending what you do not have and start investing this money in the skills, knowledge and connections that will open new doors for you.
The vast majority of people when they start to earn money, or increase their income, the first thing they do is make their lifestyle more expensive. Instead of taking these surpluses and putting them in a fund earmarked for new investments or business opportunities.
4. Money is important to you
If you think that money is the reason why there are problems in the world, you will hardly get it in the future. The way you relate to this resource will define whether you attract or repel it in your life.
Money is important, and I am convinced of this. However, you must understand two things: The first is that it is beyond being an end, it is a means, and second, that money simply amplifies what is inside people.
If you are abundant, money will allow you to enhance that abundance. If you are stingy, the money will reflect that attitude of yours even more.
In short, knowing that money is important for certain things in life, taking care of it and focusing on growing it, are clear signs that you will have money in your future.
5. You invest in your financial education
How do you intend to have money in the future, if you don’t allocate resources and time to train yourself in this matter? Money and its management, like any other field, requires study, training and analysis.
When was the last time you spent time reading a personal finance book or attending a personal finance event?
The invitation with this question is that you allocate part of your resources to train yourself in your financial education; learn how to save money, how to invest it and make it work for you, understand how debt works, and develop the right mindset to attract abundance into your life.
For this, I want to share with you the 50 most effective tips to start building your wealth today.
6. You have a long-term investment
Building wealth is something that takes time, it doesn’t happen overnight.
So, if one of your goals is to have abundant future money, you will have to have goals aligned with this time horizon.
This means that you must have a long-term investment, which, although it does not bear fruit in the short term, will leave you with great profits in the future.
For this you can make investments in the stock market through an index fund, invest in real estate by paying for your first apartment in installments, or invest in a business with good future projections.
7. You focus on having multiple sources of income
Your future wealth cannot depend exclusively on one source of income. What if you lose that one source? What would happen to your financial plans in the future?
A clear sign that you will have money in the future is that you work to build several sources of income. This implies that you are very clear about how passive income works.
If you currently depend on a single source of income, here I want to share some ideas to create new sources:
- Create a website and monetize your passion online
- Have an extra job during your weekends
- Sell what you no longer use
- Sign up on freelance platforms
- Invest in the stock market
- Start a business in your spare time
8. You understand debt and how to take advantage of it
Not all debt is bad, and if you know how to use it, this is a clear sign that you will have money in the future.
Good debts are those that generate a sufficient return to pay interest and leave you with a surplus. What are these types of debts for? To leverage yourself with the money of others and invest in your future.
When you consider debt good, you stop limiting yourself to your budget and you open your mind to new business opportunities.
Now, there are also bad debts, and they are those with a considerable interest rate that are not generating any personal return.
If you have this type of debt (such as credit cards), the invitation is that you learn how to get out of debt before you start saving money, and review your lifestyle.
9. You are not afraid to take (calculated) risks.
The first thing you should know is that in life, from time to time, great opportunities arise that can change your course. So make sure you have enough capital to take advantage when these opportunities arise.
With this I am not telling you to take unnecessary risks for the simple fact that “he who does not risk, does not win.”
On the contrary, take risks when you are very clear about the potential for profit and also know the consequences if things do not go as expected.
So, to take calculated risks that can bring you big profits:
- Have enough capital money to be able to take advantage of them (point number one on this list),
- Know the earning potential and its probability of occurrence,
- Calculate what your opportunity cost is.
- And finally, estimate what would happen where the most pessimistic scenario becomes a reality.
If you are clear about the importance of social capital and invest in it, this is a clear sign that you will have money in the future.
When you master this concept, you understand that money and knowledge are not enough for new doors to open in life. It takes something more, and that is definitive, meet the right people.
Networking is essential to build your wealth, because when you meet the right people, new doors open for you, business opportunities are presented to you that you previously did not have access to, and the synergy that is created from these connections is invaluable.
Regarding the latter, it is not only about accessing new opportunities. It’s also about getting to know new points of view, seeing businesses where you didn’t see them before, and thinking in ways you didn’t before.
The invitation is very simple: An immediate action to improve your finances is to start meeting new people outside your social circle. Build your social capital, as this is a fundamental pillar within your wealth structure.
11. Your expenses are calculated, not impulsive
Do you have a personal budget? Do you know how much money you spend each month and what you spend it on? Mastering your current personal finances is a clear sign that you will have money in the future.
When you avoid unnecessary spending ants that impoverish you, when you control your impulses and do not make emotional purchases, new opportunities open up for you:
- You have a greater margin to save and invest your money,
- And it makes it easier for you to make the purchases you really want to make, because you will have more capital available.
So if you want to build your wealth and heritage, I have two invitations for you:
- Develop your personal budget that is easy to meet and monitor.
- Mentally review the reason for those emotional purchases that have little to do with your finances and are more related to your interior.
12. You use the banking system, instead of it to you
Finally, the banking system has many possibilities to explore when you understand how it works and use it to your advantage.
For example, I ask you, when you take out a credit card and borrow 24 installments, are you using the banking system or does it use you?
Now, if you are presented with an investment opportunity and you do not have the necessary capital, and you decide to go to a financial institution that offers you good rates, are you using it or is it using you?
The message is clear: Leverage the banking system to grow your investments. Avoid all those products that offer you “benefits” and focus on meeting your long-term financial goals.
If reviewing these signs, you meet some and have others to improve, focus on them so that you can start working on your financial freedom in the future. Without a doubt, these points are clear signs that, sooner or later, you will have money in your future.
Continue reading: 10 steps to achieve financial freedom from scratch