Why most of the people around this world are feeling a discomfort & insecurity during the time of Recession?
Well, Because they don’t have any Control over the following 3 things.
01) Control Over Job
02) Control Over Investments &
03) Control Over Tax
While people who are Financially secure & Rich don’t feel any insecurity. Because they have control over all of the above 3 factors. So How can you gain control over your job, Investments & Tax, that I will teach you in this Article.
01) Control Over Job -
Most of the people (Typically Middle Class) feel insecurity and discomfort during the down economy is because they have No control over their own Jobs. Anytime, the company in which they work can fire them. And this thought makes feel them insecure Financially.
For Everyone, their Job is the main Income source.
Now take the Example of myself. I am the Editor of this Web Business (Blog). And I have founded this Blog. I am the owner of this Web Business. So Nobody in this world can fire me from this position. Because I am the owner of this Business. As long as I will have the ownership of this Business, nobody can fire me. So in this ways I have a control over my job.
Most of the people around this world have no control over their jobs. So I advise you also to do the same. Develop your own Business & take a Control over your Job first. Right now even in the Recession, I am feeling comfortable & secure. I don’t have to pass sleepless nights because I have a full control over my job and I know that nobody can fire me from my this job.
02) Control Over Investments -
Most of the people feel Financially insecure because they have little to No control over their Investments also. Most of the common people Invest mainly in the Assets (Mainly Paper Assets) on which they have no control at all. Such as Stocks, Bonds & Mutual Funds.
If you Invest your Money in Mutual Funds than you will have no control over it. You just have to follow the one formula and that is “Buy, Hold & Pray.”
The lack of Control over your Investments (Stocks, Bonds & Mutual Funds) is the main reason of feeling a Financially insecurity.
03) Control Over tax -
The third Important Control is, Control over tax. If you work as an Employee at someone else’s Company than every month when you receive a Check, Some amount of Tax will be already deducted from it. In other words, you have no control over your Tax.
Every Month, your First Expense is the Tax & after that whatever remains, you have to spend from that amount.
But for me, the scenario is different because I am a Business owner. This Blog is owned by a Private Limited Company (PATEL EDUCATION PRIVATE LIMITED). So the Income of this Blog is my Company’s Income.
And for a Company, all the Expenses are Tax deductible. If I buy a Laptop than it will be considered as a Business Equipment and I can buy it from my pre-tax Money. If I go to travelling abroad than this expense will be considered as a Business meeting with the client and so on and on….
Virtually I can do any expense from my Pre-Tax Money and show that it is a Business Expense. And after doing all of these expense, if something left, I pay Tax.
So in this way, I have a Full Control over my Tax also. And I also advise you to take control over your taxes in this manner.
So Right Now I am feeling totally Secure & Comfortable Financially because I have a full control over My Job, Investments & Tax. You can also achieve the same level of Control by starting your own Business…..!!!!!!
