So What are some money advice you can learn in less than 10 minutes? Which will help you become rich?
The first thing to do is to set your money mindset right, here’re the top 3 misinterpreted, and they are all interrelated, and in order for one to become rich, you have to truly understand the ideas. (Literally took me years to truly understand, yea, I am a slow learner…) Anyway, here we goes:
- Money is NOT the root of all evil,
I am sure you’ve heard a lot on this, ‘Money is the root of all evil’, popular thing to say, but it is not true, it is, in fact, a misquote of a biblical source. It was supposed to be translated as ‘For the love of money is the root of all evil’, then again, the love of money is no wrong, is wanting to make more money a wrong doing? Do you see the argument here? When you inherently believe this, you will subconsciously shy away from opportunities to make money, or you may want to get rid of it as fast as possible, so you find yourself spending it.
- Money is ONLY a tool, not the end goal,
Many people have made money their priority, and this is the problem. You shouldn’t treat money as your sole purpose, don’t make yourself a servant of money, remember that money is a moving target; it will never be enough. If you make a million, you want two. If you make 10, you want 20. Money is a tool in achieving whatever means or purposes in your life, don’t make the money a Numbers game in your life.
- Money can’t buy happiness, NEITHER does poverty.
Now the famous among the 3 ideas, of course, money can’t buy happiness, it is only a tool in achieving your goals and purposes, which when you acquired that goals and purposes, you will find that happiness you are looking for. In contrary, do you think that the lack of money will help you find your happiness? I doubt it. Asked yourself, would you rather be rich and happy, or be poor and happy? The answer is obvious.
Now the money advice that will help you becoming rich is,
TREAT YOURSELF AS AN UNDERVALUED STOCK
In your path to becoming rich, learn this and put it into practice, I am very sure that you will achieve a lot in your future financial life, in your career, your investment route or even your entrepreneur journey.
What does that mean? You will be treating yourself as one company or a stock, and in this case, an undervalued stock. In this case, you are your own management of the company, the important message here is that Nobody care about how you run your business, the only person to take care of the business is you yourself!
Like a company, you’d want to increase the ROI, you will need to understand about the Balance Sheet, Income Statement, Cash flow statement and the mission statement.
In short, this is the management of assets and debts, budgeting and expenses, and the purpose/goal that you wanted to achieve, with the purpose/goal being the most important of all,
“only those who knew what they wanted, and had a plan for getting it, were succeeding, while those who did not know what they wanted were getting just that, Nothing.”
Believe it or not, the management of the 4 items above is what deviate the rich and the poor, the rich will actively manage this company of theirs, the rich had become richer because they have managed their company to work for them. As simple as that!
For the last piece of advice, which I actually tweaked from the quote by Napoleon Hill,
“To becoming rich consists of doing – Not merely of knowing.”