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5 Steps You Can Take With Your Money

When it comes to money, some people get funny.

Most people are impractical with their money. That's why they have so little. In fact, most professional people have less than $1,000 in their entire life savings.


They have weak financial advisors. They listen to their friends, family, and neighbors. They take advice from the people who never really had money. In short, they seek professional advice from amateur people.

Most likely, they are all amateurs who haven't gotten too far. You might think they're giving you million-dollar advice, but they have less than $1,000 in their bank accounts.

Therefore, listen to the experts.

You can only take 5 actions with money:

1. Earn: Most people think they must 'work' for money. However, this is the same reason money doesn't work for them. They put unlimited time, energy, and efforts into their jobs, hoping to seize a fortune in the end.

Fortunately, it's the 'thinkers' and 'doers' who earn the most money, not the 'workers'. The 'thinkers' and 'doers' plan their actions and execute with precision. They don't waste their precious moments on unprofitable activities, but strategize their way into wealth. They hire the 'workers' in the end.

Moreover, if you're only depending on one stream of income, you better think differently. Most of the wealthy people I know have at least seven streams of income. Find a way to be entrepreneurial, even if you're just adding a couple hundred dollars in your bank account each month.

Plan your work, work your plan. - Margaret Thatcher

2. Spend: Believe it or not, we learn how to spend our money from other people. In fact, everything you do is a result of someone persuading you to do it. Most people don't realize that their purchases have been influenced by their friends, family, and neighbors.

In fact, your car, clothes, food, and home, has everything to do with what other people think about you. Your spending habits determine who you are and what you value. What do you spend your money on?

Spending money can be done correctly once you become more conscious of your choices. You must look at every bill you have, read every statement, and negotiate deals all the time. Track your expenses if you want to control your spending. Also, don't spend more than 25% of your gross income on rent.

Too many people spend money they don't have to buy things they don't want to impress people they don't like. -Will Rogers

3. Save: Many people try to save, but don't keep what they've earned. You've got to have a go-to system that can keep you accountable in saving money. Try my Money Wall technique if you want to be disciplined with your saving habits.

If you're in your 20's, you should have a minimum of $10,000 saved up. If you're in your 30's, you should have $100,000. There's no reason why this shouldn't happen, unless you've made significant investments within the last six months.

Saving can be crucial if you're planning for retirement. However, I believe a person can be better off if they save their money to invest in themselves. This can enrich them in the process and allow them to earn more money, making it easier to save money as time goes on.

Don't save for a 'Rainy Day', save for a 'Sunny Day': Days of prosperity, luxuries, and wealth. - Daniel Ally

4. Invest: What should you do if you have $1,000 to invest? This is a question I hear all the time. First of all, I would never let that money sit. What's the point? It's just going to wait there. You need to have your money work for you.

If I was making my first investment of $1,000, I would invest in myself. Specifically, I would buy books on investing and business. I would hire a coach and attend seminars as much as possible. I would do this until I felt comfortable with investing more money.

Real multiplication can happen when you have the financial education you need. When you do, you'll have more than enough money to make the wisest investments. It is my sincerest belief that the best way to get wealthy is to pour every dollar back into yourself.

If a man empties his purse into his head, no one can take it from him.

- Ben Franklin

5. Give: Life is about giving and receiving. In fact, the only way you can get more money is by giving it away. The universe will promise you further wealth if you've generously given your money to the right people and places.

Giving can happen in many forms. However, when you give your money away, you must be intelligent about it. I would never give my money to a source that generates hate and poverty. It would be a total waste of money. Furthermore, no one would benefit from this kind of giving.

Instead, I would give to someone or some place that would either appreciate the money or become more prosperous because of it. When the giver and receiver obtains joy, this is when wealth is multiplied. Giving in this way is the surest way to become wealthy.

Giving is the only way you can receive. -Daniel Ally

Bonus: Paying Off Debt: Personally, I believe too many people worry about debt. I think the reason is because they do not understand it. They don't know the terms, conditions, interest rates, and everything that goes along debt.

My best advice is to never use debt for personal goods, especially luxuries. I would only use debt to leverage my money. This is actually one of the greatest ways to start a business or find other money-earning opportunities.

Whatever you do, do not pay off debts when you can be using the money to fund your dreams. If you focus on your wealth instead of your debts, your debts will naturally take care of itself. Pay your debts wisely, if you have them.


Learning about money is a lifelong adventure. Pick your teachers carefully. If you want to study money more carefully, find the richest people you know and have a conversation with them. People with money give good advice, if you're ready for their lessons!

Daniel Ally

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