​HOW TO MANAGE YOUR MONEY PROPERLY Many of you asked me to | Simone Bolivar

​HOW TO MANAGE YOUR MONEY PROPERLY

Many of you asked me to share some tips from my own experience how to invest and manage money. They may seem too simple to you, but that doesn't make them any less effective

Keep your money in different currencies

The current economic crisis has proven once again that it's best to prepare for the worst ahead of time Instead of keeping your money in one currency and watching helplessly as it loses value, prepare your safety cushion. To do this, simply divide your savings into three parts:

40% leave in your local currency,
30% in dollars,
30% in euros.

EXAMPLE:

Let's say you bought $1000 today at 50/1 course. The next day your local currency collapsed and the dollar soared to 65/1. By selling the same $1,000, you would earn about 30% of the amount invested. Now imagine that the day before you bought not $1,000, but $10,000...

Spend your money wisely

You have invested in a project that has made a nice profit. At this point, it is very important to figure out how to dispose of the proceeds. You can, of course, invest it all in yourself and buy, for example, a car , but it would be much wiser to invest 90% of the proceeds back into the investment part of your savings. The more you invest in a profitable business, the faster you can scale it or, for example, invest in another project

Have a few solid ideas to invest in

Don't invest in an idea until you've worked out all the little details. If you still have any doubts, feel free to tell your friends and family about them: maybe they'll see something you don't. Have a few solid business ideas to spare: where one project goes down, another may take off.

Invest in multiple ideas, not just one

With several business projects at once, you are more likely to stay afloat: if one fails, another will make up for all your losses.

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