Many know how to make money; few know how to keep it

 Proverbs are wise folk sayings, passed down from generation to generation, that contain valuable lessons and observations about human nature and the realities of life. One such proverb, still relevant today, is "Many know how to make money, few know how to keep it." It reflects the profound difference between the ability to increase income and the ability to manage and preserve that income over time. Let's take a closer look at the meaning of this proverb, analyze the factors that seem to account for its relevance, and offer strategies for increasing financial literacy and preserving wealth. The essence of the proverb is clear: making money is a skill that can be developed and mastered by many people, but successfully managing and preserving that money is a much rarer quality. The proverb does not diminish the significance of income generation; rather, it emphasizes that it is only half the journey to financial stability and prosperity. The other half, often overlooked, is the ability to manage finances wisely, invest strategically, and avoid making wrong decisions that can lead to the loss of what you have earned. One reason why so many people fail to save their money is because they lack financial literacy. Financial literacy is the knowledge of the basic principles of money management, including budgeting, investing, and debt management. Many people have never received formal education in these subjects and rely on intuition or the advice of friends and family, which often leads to poor decisions. Another factor is the psychology of money. Money can trigger strong emotions, such as fear, greed, and envy, that can cloud judgment and lead to impulsive and irrational decisions. For example, a person who suddenly receives a large sum of money may be tempted to spend it on luxury goods or risky investments instead of using it to create long-term financial security. As Benjamin Franklin put it, "Beware of small expenses; a small leak will sink a great ship." This wisdom is still relevant today, emphasizing the importance of detail and discipline in money management. So how can people improve their ability to hold on to their money? Here are some strategies: Education and financial literacy: The first step is to educate yourself on topics related to money management. There are many resources, including books, online courses, and financial advisors, that can help you learn more about budgeting, saving, investing, and long-term management. Create a budget: A budget is a plan for how you will spend your money. It helps you track your income and expenses and identify areas where you can cut back. Set financial goals: Determine what you want to achieve with your money. Do you want to buy a house, retire early, or fund your children’s education? Setting financial goals helps you stay motivated and make decisions that will help you achieve them. Save regularly: Save regularly, even if it’s a small amount. Build an emergency fund to cover unexpected expenses. Automate your savings by setting up an automatic transfer from your checking account to your savings account each month. Invest wisely: Investing is a way to grow your money over time. Consult a financial advisor to develop an investment strategy that’s right for your goals and risk tolerance. Diversify your investments to manage risk. Manage debt: Avoid accumulating debt, especially high-interest debt like credit cards. If you do, develop a plan to pay it off. Avoid impulse purchases: Before making a purchase, think about whether you really need it. Avoid shopping when you’re emotional. Seek professional advice: If you’re having trouble managing your money, don’t hesitate to seek professional advice from a financial advisor. A good advisor can help you develop a financial plan that is right for your needs. The saying “Many know how to make money, few know how to keep it” is a reminder that financial stability is not just about increasing income, but also about skillfully managing and preserving that income. By increasing financial literacy, creating a budget, setting financial goals, investing regularly, investing wisely, managing for the long term, and avoiding impulsive purchases, anyone can improve their ability to keep their money and achieve financial security. The saying remains relevant today because it highlights an essential aspect of financial well-being that is often overlooked. Making money is important, but keeping it requires discipline, knowledge, and careful planning. Understanding this truth and taking proactive steps to improve your financial literacy is the key to achieving long-term financial stability and prosperity.

What are the obligatory questions we should ask ourselves at the end of the year?

“What have I achieved this year?” is extremely important, as it allows us to reflect on and evaluate our achievements over the past year. This is a time when we can celebrate our successes as well as deal with our failures or shortcomings. It is important to be objective and acknowledge our achievements, but we should also set new goals and strive for a better future. “What were the greatest challenges I faced, and how did I overcome them?” Each of us faces specific obstacles—personal or professional. In this paragraph, we should ask ourselves about the moments when we felt the most difficult and how we found the strength to overcome them. Reflecting on how we dealt with these challenges can teach us valuable lessons for the future and give us confidence in our ability to cope with adversity. “How have I grown personally and professionally?” Growth is an important part of our personal and professional development. The process of growth helps us develop skills, knowledge, and experience that help us achieve new achievements and take on new challenges. Personal growth involves the development of our personality, self-confidence, courage, and ability to adapt to change. Professional growth is about acquiring new skills, promoting career development, and achieving a higher professional position. To achieve growth, we must be open to new opportunities, learn from our mistakes, and have a constant pursuit of self-improvement. “Was I happy and fulfilled this year?” Happiness is more than just a feeling of joy and satisfaction. It is also an experience of exciting moments, achievements, and connections with people who enrich my life. And despite the challenges and unrest that the year has brought us, can I confidently say that I was happy and fulfilled this year? “How did my relationships with family, friends, and colleagues develop?” My relationships with family, friends, and colleagues go through different stages and change over time. In a family, it is important to be close and support each other. Over the years, despite the distances and workload, we manage to maintain good communication and see each other regularly. Friendships that develop through shared interests and support in difficult times are also important. At work, it is important to be responsible and committed to the team. Through open dialogue and cooperation, we manage to maintain good relations with colleagues. “Are there things we would have done differently?” Why do we regret the moments when we did not act differently? Don’t these moments provide opportunities to change our lives, to do something better? When we look back on time, do we realize that we had the chance to do things better, but we did not use it? How can we use these moments of regret as lessons to avoid repeating the same mistakes and strive for better decisions in the future? “Did I achieve my goals for the year, and what are my goals for next year?” When considering our goals for the past year, it is important to ask ourselves two key questions: “Did I achieve the goals I set for myself this year?” and “What are my goals for next year?” This process of introspection helps us evaluate our achievements and set new goals. It allows for self-assessment and planning, which is essential for continued personal and professional growth. Setting realistic and measurable goals for the coming year can be extremely motivating and focus our efforts. “How is my physical and mental health this year?” This question covers not only our physical condition, but also our mental well-being. It makes us think about our habits—nutrition, exercise, sleep, and stress management. Understanding these factors is key to maintaining good health and can motivate us to make positive changes in the future. “What new skills or knowledge did I acquire?” Many people ask themselves the question, “What new skills or knowledge did I acquire this year?” This question is important for self-reflection and personal development. It helps us realize how much we have developed, whether through professional development, hobbies, or personal skills. Reflecting on the learning and experiences we have gained is key to fostering our continued growth and development. “Have I maintained a good balance between work, leisure, and personal interests?” Many people wonder if they have maintained a good balance between work, leisure, and personal interests throughout the year. This question is key to ensuring a harmonious and healthy lifestyle. Finding the right balance can be challenging, but it is important for our physical and mental well-being. Reflecting on how we have balanced the different aspects of our lives can help us make adjustments and improve the quality of our lives in the future. Lao Tzu has given many answers to our questions. If you feel depressed, you are probably living too much in the past. Because when we are in a negative mood and cannot get rid of sadness or disappointment, we often think about past events that have hurt us or caused us pain. If you feel anxious, you are living in the future. This means that your attention and thoughts are focused on events and situations that have not yet happened. If you are at peace, then you are living in the present. In peace, we find peace and harmony, which allow us to enjoy life in the moment.