Vera  (@verra_) - Profile Photo

Vera

@verra_

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"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman

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Joined Aug 21, 2020

In the world of finance, scalability refers to the ability of a company to sustain or better its performance in terms of profitability or efficiency when its sales volume increases.

It is usually a big challenge for any company to maintain its profitability or efficiency when the volume of sales increases. Similarly, capital markets must have the ability to maintain their performance levels when the volumes of trade carried out by traders and investors rise.

Vera  (@verra_) - Profile Photo

@verra_

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Money

1 IDEA

How to get wealthy

You don't need to earn a lot of money to become rich if you have healthy financial habits.

If you want to get wealthy, you need to consider three things:

  1. Earn
  2. Save
  3. Invest.
Good investing: Protect yourself from FOMO

Most good investing is about keeping your investment for the longest time possible. If you want to buy an investment just because its price went up, you probably don't know why it went up and will sell when it goes down.

Refrain from the need to own whatever goes up the most. Someone will always be richer than you, and that is okay.

Traditional Budgeting is Up In Smoke

A person who has a conscious spending plan is all about having positive spending habits and not banning yourself from spending altogether.

If you've ever tried to put yourself on a budget and fail to stick to it every couple of months so, then you should definitely switch to something else. Traditional budgeting fails because they are unsustainable, focuses entirely on needs and ignores wants, and keeps you stuck on a cycle of looking backward.

Emergency funds

Having some extra cash is helpful when the world falls apart. But emergency funds, while great in theory, are very difficult to put into practice. That is why so few people get around to saving one - most people have more urgent financial demands.

However, one should learn how to multitask with your money, moving between short- and long-term priorities.

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