The Velocity of Money
The velocity of money is simply the idea that there are fast plans and there are slow plans. Improving your plan will always increase the speed with which you get your money.
If your goal is to achieve your financial independence as quickly as possible, than you must always be working to improve upon your current plans. This requires you to analyze plans and compare them to each other. Comparing and improving your plan ultimately gives you control over your financial situation.
Ways to Improve the
Velocity of Your Money
The size of the improvements you make to your financial plan depend on your level of ability.
In the beginning, you will focus on increasing your
basic financial education
and making improvements to your
personal budget
. There is a direct relationship between your level of financial education and the velocity of your money.
When I talk about the velocity of money I am talking about the velocity of your financial plan. Without a financial plan your money will have no velocity.
As your knowledge and ability grow, the strategies you choose to improve the velocity of your money will become more sophisticated. At this level you will form businesses, manage real estate, build networks, and master different forms of leverage.
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