What comes first, the harvest or the planting?
To any person, this would be a rather stupid question.
Obviously, you will need to plant a seed before you can harvest it.
Then why do most people have this concept in reverse when it comes to money management?
Most people spend money before they make it, or they want to reap the benefits of a large harvest without planting any seeds.
To put it bluntly, most people want to spend like the wealthy while working or investing like the poor.
I’m not judging or comparing; I’m, just simply saying that if you want to spend like a wealthy person, you should probably make money like a wealthy person.
Most wealthy people I have met or read about say they view money as potential or opportunity.
Just like a farmer would see the oak tree instead of just an acorn, wealthy people see things like vacation homes and time with family instead of money.
Wealthy people are farmers, planting and harvesting seeds of money.
A healthy farm or following tips on budgeting would allow you to quit your job.
It could be a dollar, a mark, a euro or a rupee.
Whatever your currency is it does not matter.
It will all have the same relative potential.
I think of money in terms of money trees.
A dollar is a seed, and with that seed, I want to grow a strong and vibrant money tree.
If I plant lots of seeds, I could then have a whole farm of money-trees.
When the money trees are fully-grown, I can support my life from the fruit and then quit my job.
The above picture is an example of what my money-tree farm looks like right now.
My farm is in the early stages.
You can see that I have many seeds planted, and they are just starting to grow.
If I were to harvest now, I would ruin the crop for very little fruit.
But I know that if I take care of the crop, I will soon have a strong and healthy money-tree farm that will be able to support my lifestyle.
You can’t just start planting seeds though; there are steps you will need to take 5 steps to grow a successful money-tree farm and quit your job.
5 Steps to Growing a Successful Money-Tree Farm
If a farmer were to just start planting random seeds in random areas with no guidance or experience, what do you think his chances of success would be?
Probably not too good, right?
Well, this is the same with money-tree farming.
Here are 5 tips on budgeting you can take to increase your chances for success:
- Decide how big of a farm you want (How much money you will need for the lifestyle you want). There is no sense of buying 100 acres if you only need 10. It would be both a waste of time and resources.
- Figure out when you will need to harvest. (How long until you need or want the money)
- Find out which would be the best seeds to plant for your goals. (Which investments would be best for you based on your needs and goals)
- Learn how to properly take care of your trees and how to protect them from diseases. (How to properly manage your portfolio and how to pay fewer taxes and capital gains)
- Find other people with successful farms and model them. (Find wealthy people and ask if they will help mentor you. I have done this for years and the information they can provide is invaluable. Offer to buy them lunch)
If you follow these 5 simple tips on budgeting I promise you will have a much better chance of growing your own successful money-tree farm which will allow you the option to quit your job.
How about that?