Three Things To Do When You Gain Money

Money has become a priority in our lives because products bought and services offered are paid with money. Here in Ghana many people go about a lot of activities to earn enough to survive the life. But there is a one problem when it comes to obtaining money. Many people become spendthrifts when they land some dough not knowing money can be used to make more money. Here are top three things to do when you earn money.

1. Start A Small Business

A small business is one that will earn you mostly adequate amount of money depending on how you manage the business. You can do it to support your main income and better position yourself in life. Here in Ghana some small businesses you can start is a poultry business. With as little as GH₵500 you can purchase day old chicks from farmers and make a small chicken coop to rear the chicks. Under good management you can make some decent profit of what you invested initially. Also small businesses like barbering salon, making and selling beads, head accessories like head turban, knitted clothes and others can make you money with little capital required. Remember little drops of water make a mighty ocean.

2. Learn A Skill

The mind is the greatest asset of every single person. When it is invested in well it can provide a lot of profit for a person. But the question is, how do you make your mind a great asset. Well it is simple, you can do that by learning a skill or training yourself in a specific skill. With the advancement of the internet it has become so easy to acquire tutorials, free and paid to learn any skill you want to. Udemy and You tube are great places to start with. You can also take part in seminars and webinars to learn more from a lot of professional people. You can also put the money toward books, you'll come out ahead. Reading a book a month in your field, will help you in being an expert in your field.

3. Investing

An investment is an asset or item acquired with the goal of generating income or appreciation. Money can be invested in many ways. Here in Ghana the best ways to invest money are by buying stocks and shares, buying treasury bills, purchasing mutual fund and also bonds. All these have different levels of risk with treasury bills even being risk free because they are backed by the government. These investments when made begin to yield profit often over a period of three months, six months one year or even more.