“The key to success is to focus our conscious mind on things we desire not things we fear.”—Brain Tracy
Who does not like to be rich in his lifetime? Every one wishes.But it depends on the focus and right action personal finance management. The focus is required on both revenue as well as expense management for long-term wealth creation. Most of us are giving more focus on expense control than revenue maximization. Let us understand the implications of both.
When you are more conscious about revenue maximization, the focus would be on generating more revenue through business expansion or professional development, etc.. Consequently, the action and energy would be on skill development, making yourself competent, looking, for, saving and investment opportunities, etc. In this approach, there is no limit to maximize your revenue generation possibilities.
When you are more conscious about expense control, your focus would be always on reducing the expenses, looking for cheaper alternatives etc..Your energy and action would be cutting down the expenses even if looks required for long term benefits, for example, investing in yourself for future growth etc..But the fact is that beyond a certain point, you cannot control your expenses as this seems to be essential.
The point is not to be conscious about expense control, but too much of consciousness may not make you rich, instead have consciousness on revenue maximization and moderate control of expenses may help you accumulate wealth.Be aware about your control on wealth creation process and you attract good things in life!