To fulfill your desires and ambitions, you must succeed not only in making money but also in growing the money you’ve made. Many desire to live a fuller, happier life yet fail to do so in their entire lifetime. Is it the lack of opportunities to do so? Is it that they don’t try hard enough? Do they lack the knowledge?
We can’t talk about money in one article. We’ll keep writing articles to help you improve your personal finance and help you have a life of affluence. In this article, we’ll just briefly discuss about money overall. We’ll divide into 3 parts; introduction, the reality, the possible solutions.
If you’re reading this, you’ve prolly heard of the Forbes richest people in the world; the top 10 richest, the top 100 richest, etc. In your country, you must have heard of the richest businessmen or politicians. So why am I mentioning about this in this article?
Well, as you can deduce a few people seem to have amassed great wealth whereas the masses obviously keep failing to do so. You may argue that we’re all born different and/or that the a few who are wealthy are uniquely blessed or talented or are very lucky.
Does that mean the masses were all sound asleep when luck came ringing their door bells? Are the masses not blessed enough or what offense are they committing against the Blessing-Giver for them to be denied said blessings? What about talent or skill? Or is there tough competition in the field of your talent that your efforts have never panned out?
You wonder how did the few wealthy do it? Why do so many fail to achieve their goals and only a few succeed? Is there a side of the coin that you aren’t being shown? Is the pursuit of wealth a rigged game from the start, a losing battle? Are there some people born with a silver spoon while others got a wooden one?
The Harsh Reality
The rich keep getting richer while the poor and middle class keep struggling to make ends meet. You may ask, “How does this happen?” Let us have one example. A couple owning a profitable business wants to sell it and retire. Who is most likely to buy it? Who is likely to have savings to invest in that? If not, who is likely to obtain a loan successfully?
In this way, the rich person will have another additional investment and thus keep building his wealth. Most of the poor and middle class have jobs that given their salaries, they can never save enough money to invest. Even those with better salaries, still fail for certain reasons. Despite working for several years, they seem to have little or no savings, even at times, no pocket money.
Some are stuck in the rat race (the unpleasant life of people who have jobs that require them to work very hard in order to compete with others for money, power, status, etc.) so deep with no hope of escape, whereas others hold on their dear jobs and never progress forward for reasons such as job security, debts etc.
Also, let’s face the fact that most people neither work smart, nor work hard, and if they do work hard, they are putting their efforts to the wrong work. Such people understand not their reason to work. Do you work hard just to survive or do you do so to attain financial independence? Do you know your goal and do you understand what you have to do to achieve it?
First and foremost, learn basic financial literacy. Doing this will help you know how your cash flows, how to balance your assets and liabilities, managing your incomes against your expenses (these are your financial statements). This helps in identifying financial leaks or where you’re misusing/losing money. One financial advisor, Robert Kiyosaki, said that one can be highly educated, professionally successful but financially illiterate. Avoid being this person at all costs.
Second, learn the difference between making money and growing money. This is one of the main reasons people are stuck in the rat race. Don’t use methods of growing money to make money because this is an extreme risk. For example, if you got a little money, say, $500, you should use this to, for instance, start a simple business so as to make money, and not invest in high-risk markets such as forex, real estate that are methods of growing your money. We’ll write an article about this soon.
Third, improve your skills and abilities to increase your income. If you don’t have a business or you are looking for a job, of course, learn a skill that will aid you in that. However, if you’re already working and want to increase your income, then find a niche and learn skills to pursue said niche.
You must also realize that a life of affluence ain’t easy to achieve. When you hold your breathe, how much do you long to breath? Never forget that if you want to succeed as much as you want to breath, then you will definitely succeed.
After reading these solutions, let me ask you: What is your raison d’être? If you can answer this question, then it’ll be easy for you to have a clear goal and your efforts won’t be in vain.