4 Stupid Beliefs about Money
Adnan Ul Haq
4 Stupid Beliefs about Money
Adnan Ul Haq
Did you know that you’ve been lied to about money since always? Want to know how? Read on!
There are four major myths about money that we are going to burst further. These are the four major lies that people have been telling you since always.
You Can Generate More Money by Saving
This is a white lie!
You can never generate money by saving it. Instead, you can generate money only by investing it in the right place. If you invest money, your money will increase with time.
On the other hand, if you keep your money deposited in your account, its value will keep on reducing as the government prints more and more currency notes.
Money is Evil
This is a very wrong mindset that you need to get rid of!
Money is not evil at all, infact it is a necessity for living a good life. There is no life chore that can be performed without money. For instance, if you need to buy new clothing, travel somewhere, want to have your favorite food, etc. you need money. There isn’t a single task that can be performed without money.
Everyone should make efforts to enjoy an exceptional lifestyle, but you need money for that. Thus, until or unless you stop believing that money is evil, you won’t get rich.
Did you know that only 1% of people enjoy complete financial freedom? Similarly, only 5% enjoy reasonable financial freedom while unfortunately, 95% of the people don’t live a well-off life and suffer financially even after retirement.
Want to know why?
These 95% of people believed money to be evil and spent their earning years with the wrong mindset.
Getting a Job Will Make You Rich
Another lie that you’ve been hearing is that after your graduation you need to get a job, if you do that successfully, you’ll get rich.
Let’s be honest here - Have you ever seen a wealthy person doing a job? Or have you seen someone doing a job become extremely wealthy?
The harsh reality is that a job is sometimes not even enough to pay off your immediate liabilities.
So, investing money smartly is imperative to getting rich. This is because when you invest money smartly, you will generate a cash flow. This income can be further invested into other assets which will, in turn, generate even more cash flow. So, as you keep rotating the money it increases.
In contrast, if you keep doing a job, waiting for increments, you will spend years waiting to get rich, even if you do!
“I Can’t Afford This”
People have always told you to worry and think about investment and see if you can afford it or not. When you see a plot, a shop, a house, or an apartment, the first thing that you think is - “I can’t afford this”.
This mindset can be harmful because when you’ve already made up your mind that you can’t afford it, how will you be ever able to buy it?
You should be asking the right question - “How can I afford this?”
Your approach should change from “no” to a “yes”!
You should ask yourself or others about the ways in which you can afford a certain asset or investment. Ask, “how can I buy this building when my income is PKR 1 lac but its cost is PKR 10 lac? How can I buy this building worth PKR 50 lac or 1 crore?
This mindset will compel you to buy assets. Mentors or consultants can guide you in generating avenues. You can seek a loan from a bank or save from salary, or opt for any other way.
These were the four major myths about money as society has been lying to you about wealth generation since ever.
Here’s a bonus lie! You definitely need to know this -
You Get Money by Luck
People tell you that it is your luck whether or not you will get rich or not. However, this is not true.
If luck is the only factor controlling your income or wealth then are all homeless people unlucky? Are all poor people unlucky then?
The answer is - No!
Money doesn’t only come from luck but from smart investments and hard work. You need to convert fake money into real money by investing into God’s money i.e. gold, silver, or property. Generating money from the existing money is a kind of money game that you need to master to become an exceptional player.
Consider the example of cricket. If a cricketer hits multiple sixes and fours in a match, will you say it is all because of their luck? No, right! The player has spent years practicing and playing which is why he is able to perform exceptionally now. The player has played smartly and in an organized way.
So, if you play smartly with money, you can become rich, it is not dependent on your luck entirely.
To master the skill of investing money, you need to invest first. You can also take guidance and help from reliable mentors, consultants, or other such people. Once you get the know-how of the money game you will also start to hit sixes and fours.
Furthermore, if you take these major lies out of your mind, you will ace the money game. Be realistic and learn through your experience or from the experience of those who are already rich.