Tuesday, May 18, 2021

Why You Might Have More Money Than You Think



If we had it our way, then we’d never have to worry about money again. Our finances seem like they’re always one step ahead of us, with true financial security always just out of reach. Of course, reaching a secure financial footing is a long-term goal, one that you’ll need to actively work towards. But it’s important to remember that your finances may not always be as problematic as you think. Indeed, it’s possible that you have more money than you think you do. In this blog, we’re going to run through some areas to look at, all of which could improve your financial situation.

Tied Up In Assets
It’s possible that you do have more money than you realise, all because the value is tied up in your assets. You’ve probably earned a lot of money in your time, and it’ll have gone somewhere! If you invest in material goods (rather than experiences), then you may be surrounded by value. There will be low-value and high-value goods.
Low-value will be all the items that have been cluttered in your draws. High-value will be things like your home and car. You can release the money from all! For low-value, you’ll need to sell; many people have essentially a month’s income in unused goods just sitting in their homes. Get rid of them! For high, you’ll need to “put them to work.” This can involve offering rides in your vehicle or renting out a room in your home.
What’s Rightfully Yours
It’s easy to think that you have to pay for everything in life. But this isn’t the case. There are laws that are there to protect you from having to pay for the consequences of things that were not your fault. If you were injured while receiving medical treatment, then a medical malpractice attorney will help you to get what’s rightfully yours. The same goes for things like accidents on the road and wrongful termination. If it wasn’t your fault, then you may be entitled to money. Don’t leave it on the table!
A Worthy Wage
It’s a little unusual how infrequently people ask for a raise. It’s always important to remember that a salary isn’t a force of nature that can’t be changed; it is set by the employer. If you’ve been working for your company for a while, and know that you’re doing a good job, then consider asking your boss for a raise. Most employers are happy to give them, since they know that it’s cheaper to bump up a salary by 5 - 10% than it is to hire a replacement employee.
Where’s Your Money Going?
Finally, it can be worthwhile to dive deep into your finances and see where exactly your money is going. You might just be surprised how much you’re spending on things that don’t add all that much value to your life. If you find yourself in that position, then work on cutting down your expenses. No one ever regrets doing so once they see how much money they’re saving!


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