Many know how to make money; few know how to keep it

 Proverbs are wise folk sayings, passed down from generation to generation, that contain valuable lessons and observations about human nature and the realities of life. One such proverb, still relevant today, is "Many know how to make money, few know how to keep it." It reflects the profound difference between the ability to increase income and the ability to manage and preserve that income over time. Let's take a closer look at the meaning of this proverb, analyze the factors that seem to account for its relevance, and offer strategies for increasing financial literacy and preserving wealth. The essence of the proverb is clear: making money is a skill that can be developed and mastered by many people, but successfully managing and preserving that money is a much rarer quality. The proverb does not diminish the significance of income generation; rather, it emphasizes that it is only half the journey to financial stability and prosperity. The other half, often overlooked, is the ability to manage finances wisely, invest strategically, and avoid making wrong decisions that can lead to the loss of what you have earned. One reason why so many people fail to save their money is because they lack financial literacy. Financial literacy is the knowledge of the basic principles of money management, including budgeting, investing, and debt management. Many people have never received formal education in these subjects and rely on intuition or the advice of friends and family, which often leads to poor decisions. Another factor is the psychology of money. Money can trigger strong emotions, such as fear, greed, and envy, that can cloud judgment and lead to impulsive and irrational decisions. For example, a person who suddenly receives a large sum of money may be tempted to spend it on luxury goods or risky investments instead of using it to create long-term financial security. As Benjamin Franklin put it, "Beware of small expenses; a small leak will sink a great ship." This wisdom is still relevant today, emphasizing the importance of detail and discipline in money management. So how can people improve their ability to hold on to their money? Here are some strategies: Education and financial literacy: The first step is to educate yourself on topics related to money management. There are many resources, including books, online courses, and financial advisors, that can help you learn more about budgeting, saving, investing, and long-term management. Create a budget: A budget is a plan for how you will spend your money. It helps you track your income and expenses and identify areas where you can cut back. Set financial goals: Determine what you want to achieve with your money. Do you want to buy a house, retire early, or fund your children’s education? Setting financial goals helps you stay motivated and make decisions that will help you achieve them. Save regularly: Save regularly, even if it’s a small amount. Build an emergency fund to cover unexpected expenses. Automate your savings by setting up an automatic transfer from your checking account to your savings account each month. Invest wisely: Investing is a way to grow your money over time. Consult a financial advisor to develop an investment strategy that’s right for your goals and risk tolerance. Diversify your investments to manage risk. Manage debt: Avoid accumulating debt, especially high-interest debt like credit cards. If you do, develop a plan to pay it off. Avoid impulse purchases: Before making a purchase, think about whether you really need it. Avoid shopping when you’re emotional. Seek professional advice: If you’re having trouble managing your money, don’t hesitate to seek professional advice from a financial advisor. A good advisor can help you develop a financial plan that is right for your needs. The saying “Many know how to make money, few know how to keep it” is a reminder that financial stability is not just about increasing income, but also about skillfully managing and preserving that income. By increasing financial literacy, creating a budget, setting financial goals, investing regularly, investing wisely, managing for the long term, and avoiding impulsive purchases, anyone can improve their ability to keep their money and achieve financial security. The saying remains relevant today because it highlights an essential aspect of financial well-being that is often overlooked. Making money is important, but keeping it requires discipline, knowledge, and careful planning. Understanding this truth and taking proactive steps to improve your financial literacy is the key to achieving long-term financial stability and prosperity.

A person who invests can use that invested money for future needs

 There are many reasons why we need to start investing for our happiness. If we are financially empowered, we feel secure, and it makes us really selfishly happy. The world of income potential: investing can provide you with a world full of opportunities and multiple ways to earn income. You'll be able to save while you earn and then invest in more sources of income outside of your traditional job. Paving a path to financial security It's important for today's workers to understand that their careers may not always last, so it's best to embark on smart investing if your income stops when you're older, retired from the workforce, or, worse, terminated from employment due to illness. A person who invests can use that invested money for future needs such as retirement, medical emergencies, and consumer financial goals. For each type of investment there are certain guidelines and restrictions that must be followed by the investor. Investment:

investment is putting your time and money into a project and hoping that the return is more than your contribution. In other words, investing is an act of risk-taking that can result in a profit but at the same time create a loss.

Author: Sezgin Ismailov

It is a rule for all investors: follow the money. Does spending my money there make sense?

 Many people really follow the big players where they invest. They think that if the big players invest, it must be a good decision. The major players closely monitor the company's revenue. They are looking to take advantage of the dividend Then they can part with at least half of their investment in this company. It is more important to monitor what people like and what they spend their money on. Those companies that offer a good product have at least a few years in advance to have competition or to produce a good product themselves. But when we look at our daily lives, what we spend money on is very important. Look in the store; which product runs out the fastest? Which thing is most important to us, and we constantly give our money for it? Who is the manufacturer, and what is the most important question for you? Is it worth investing my money there so that even if I buy a product from this manufacturer, it will return to me as a dividend? This is not to be ignored. At least that's what I think. Whether the utility company or the Internet provider. Whether the local store.  The idea is to answer the questions in as little time as possible. Just try to answer the questions and then search for the answers.  They determine the quality and demand for their goods.  When there are many buyers for a commodity, its price rises. Or vice versa. Is it worth buying a stock that will take more than twenty years to return your investment? It's not just about her fame. Don't allow yourself to have some inadequate manager during this period and drown at the end of the river.

Author Sezgin Ismailov

Learn to manage money not have it.

Much has been written on this subject, but I am expressing my opinion.

First, you need to know what a stock is and how many types there are.

Second, you need to have some idea of accounting.

It would be beneficial to have some familiarity with assets and liabilities.

Then think about which business has the future to target that niche. Then review the Global 2000 of the big companies. Then look at the Fortune 500 of the largest firms. Then track which countries have growth potential. Assess which goods and services have giant potential. There is a lot of information on publicly traded companies. Read and read again about the company you are interested in. Get to know it. The better you get to know it, the more information you gather. Nothing is certain in this world. Similar to a hotel chain, the emergence of a new leader has the potential to disrupt the market. You like a snack chain, but there are issues with menu cleanliness and ingredient quality, which the competition exploits. The most important thing is to like the company and have as much history with it as possible. But don't overlook the upstarts who have a future in time. The risk is sometimes worth it. Companies that make robots or software have a future, but which will dominate? The decision ultimately hinges on the management of the company. That's why people always talk about the CEOs of giant companies. Whoever ran a successful advertising campaign achieved more sales. It wasn't because he had better-quality merchandise. I love dividend stocks. You invest, but you get income. This is similar to the concept of usury. If a company pays a dividend, it means it makes a profit. But someone may have taken out a loan just to pay a dividend. You have to watch their balance sheet. But one should definitely invest. Money kept in jars does not increase and loses value due to inflation. You have 10,000 dollars in the bank or in your savings. On that date, check the price of a specific item in the store. In two years, please review the price of the commodity and form your conclusion. If the item's price was $1, you could have purchased 10,000 pieces with the money you had. And after two years, the commodity has become $1.20. How much product would you buy? Certainly less. This is why money should be invested or circulated, not hoarded. Learn to manage money effectively, rather than just accumulating it.

 Author Sezgin Ismailov