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Financial Advice

            People are social animals with different social characters. The world hosts different people in terms of socioeconomic discrepancies. Some people have humongous monetary accounts while others have negligible finances in their possession. However, getting money and the propensity of spending it depends on an individual. The difference is determined by the rate of replacing the money and the source of the money. People who earn a lot of money have higher spending propensity as compared to those who earn less. Additionally, spending hard-earned money is different from spending the money earned through charity or lottery.

Mary and Rodgers were lucky to win $500, 000. They would like to spend the money in their own means depending on their subjectivity in reasoning. Objectively, they need advice and other people’s opinions on how one should effectively spend money to avoid financial crises.

Generally speaking, having such amounts of money at ago can lead to impropriety in spending or saving. Winning $500, 000 for a couple that has never come across such amount could be disastrous. In fact, the couple might have been flabbergasted by the event and their hearts might have skipped a couple of beats on hearing the good news. Money is always a surprise especially when one gets it suddenly. After receiving money, never think hastily without considering the consequences that may tag along the achievement. For one to be safe, it is advisable to relax and strategize on the most appropriate ways of spending. Mary and John Rogers should spend their money based on the following advice.

First, they should consider buying a house. Owning a family house is the dream of every citizen in this country. The housing sector is a problem to many people because of the soaring purchasing prices and high interest rates on mortgages. To avoid housing problems, the couple should purchase their own house worth $180,000. A house is worth spending this amount of money to purchase. The couple shall then rule out paying monthly bills in terms of rent. Second, the other consideration should be buying a car that doesn't cost more than $20,000. With a car, the couple can move along without difficulties. They can even conduct some business with the car. Its efficiency is also to boost their lives because they would be able to adjust to the environment where automobiles are the norm

            Investment or business is always inevitable because it is the main idea that can save someone’s future social security. Mostly, a well planned investment can never be a loss to the investor. Setting up a business is the only idea that keeps money growing to avoid bankruptcy. For the couple to start a business, they would require approximately $200,000. Even though some businesses require huge setup capital, $200, 000 is enough to start a descent business empire. However, before taking the initial step to this risk, Mary and John Rogers should study the market first. They should conduct exhaustive market scanning and study the dynamics that the business is likely to encounter. The very first important step towards venturing into business is finding out about the interest or area of specialization. Mary should table her ideas for analysis and determination of their feasibility. Similarly, Rodgers should publicly declare his business ideas for analysis.  They will need to work or invest in something that they are interested in because it is one of the important avenues towards achieving business success.

Great businesspersons like Bill Gates and Donald Trump had initial business interests before venturing into business. They are the modern day billionaires in the world who started from scratch.  However, the couple is advised to be patient and resilient for at least one year before achieving results in terms of profits. Business benefits are not instant as many people may assume. After buying the house and investing in business, the couple will remain with $100, 000 in their account. They can use the money for maintenance and other important personal projects. In fact, they would still save more money because of cutting on spending on rent and with the inflow of profits from the business. Life will be better for them as compared to their past moments.

            In conclusion, possessing money can be disadvantageous especially when spent dubiously on impious things such as drugs or guns. Thinking wisely about positive spending is the best way to invest the money and keep it growing. Having money should be a leeway towards success for the people who have the ability to think positively. An individual should always understand the dynamics of life and how they should be controlled to avoid encounters with disastrous events. For instance, it would be pitiful for the couple to spend the money lavishly without saving or investing some. They would definitely be risking their social security. It would even be worse than the time before they got the money. Actually, holding today's buck is tomorrow’s success. An individual should always think about the future because the decisions we make determine the fate of the future.

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