Talk about money and the first conservative reaction would be it changes the people. Well, it sounds realistic on the surface but in reality it is a big misconception. In fact, it is not the money that changes people but exposes what they really are. If you are a humble and generous person then you will definitely use your wealth for doing charity according to your potential and serve those who need support.
In contrast, if you are an arrogant person your money will intensify your arrogance. In simple words, it is simply a catalyst that intensifies the core behavioral trait of humans. Nothing going to change once you make it. There no denying the fact that money is important but not everything. It works more like gasoline that keeps your growth engine ignited as it gives you more access to people and things. But, it is how you use the money that helps you in building your core identity and excel in the desired direction. In reality money isn’t a change agent but an enabler that helps one break the shackles of poverty and equips the person to explore dreams with a higher sense of security—the much-needed component for innovative risk-taking cognitive skill. Money helps you look beyond normal and this change in approach to take risk might not have broader acceptability. This is where people start blaming money for behavioral change. Is giving away wealth is the answer to end all the miseries of the world? In reality, it is not.
Simple financial prudence says, never spend money before you have it. Frankly, most of us fail to control spending and in the majority of the cases it is not because we want to have that product or service but just to impress someone else driven by social conditioning. It might give a momentary sense of gratification, but it is definitely not a good behavior in the long run. So, the mantra of long-term happiness is to earn first and then spend that too reasonably.
It is tough to control spending, but don’t let your ego and emotion take control of your spending behavior. If you have then it is pretty OK to spend, but if you are spending beyond earning potential in nominal terms then it could be catastrophic as you have to pay back the bill with exorbitant interest rate.
If you want to live a purposefully meaningful life then the all-time best time tested rule is not to chase money, but to attract money i.e. be a money magnet. The most important thing about the money magnetic equation is to stay focused on value creation. Once people visualize the value they naturally get attracted and this attraction will open a long-term monetization stream for you. Your earning potential is directly proportional to the value creation.
The next big, and normally ignored, rule of money is to invest time before you invest money. The sooner you start the sooner you will start reaping the dividend, however, timing matters most in investment decision making. Frankly, we waste too much time on useless things like binge-watching web series and rarely use time in learning things that add value to career progression. The more value you add the more you earn. You will hear people complaining about lack of time but in reality you will find them wasting time in doing things that are of no use in the long run. Momentary gratifications overshadow long term vision.
So, the mantra is the more you learn, the more you earn. If you wish to rise high in life then learn from those who are already there redefining the benchmark. Learning is a never-ending exercise, so be humble in learning from people you admire.
Thankfully, in the contemporary digital era when you have dedicated platforms like YouTube and several other platforms you can learn so many things pretty easily from the comfort of your home without even having physical access to that person.
Don’t let money be the guiding force, learn the art to be a master of money-making. Unfortunately, despite knowing the outcome, people value money more than required and run after it paying the huge cost of mental peace and unconditional joy. Being in debt for things that you could easily avoid is more like modern-day slavery. So, avoid being a slave of your unwanted desire-driven debt.
Good or bad, it might be just from the usability point of view, but the hard fact is that money doesn’t grow on trees unless you plant the right seed. The seed here is a good idea and you have to nurture and water your seed to let it grow naturally. You have to work on your idea and take the right actions at the right time. Just as the environment is important for the seed to grow your environment is important for you to grow, so surround yourself with the right people who could help you grow.
The next rule is money is your personal army, it should go out and bring back prisoners is a perfect quote by billionaire investor Kevin O'Leary. It means your money is like a soldier, so send it out only when it can get something in return. Money will solve all your money problems nothing less nothing more. Remember money will sort out things where it matter, like your house, food, and lifestyle but your personal problems are something you need to work. If money could have solved all the problems then rich people won’t ever commit suicide.
The last but most important thing about money is that rewards in your life will always be in exact proportion to your contribution. You might be uniquely gifted with skills to mint money, but all aren’t equally gifted with resources and opportunities. So, if you have the money then it is good to be big-hearted to share some with those who need it. The invisible rewards will come in the form of blessings and joy of giving.
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