Hi Reader,
In this blog, I am going to share some point that making us to poor without known a reason. First thing always trying to wear or look like rich people, for example, by wearing a brand shirt and suit, is the quickest way to become poor. If it makes me appear foolish, that’s OK with me. Even I can’t see anything because I’m wearing a numbered shirt, but I can’t say different in them.
Similarly, people nowadays are attempting to seem wealthy as a result of social media. They are now financially blind as a result of their mistake. So, in this article, I will explain several essential aspects that keep us poor and what we need to do to overcome these barriers and live a better and more satisfying life.
1. Try to appear look rich:
The first crucial tip is that you should not try to seem like rich. That is essentially a pointless exercise, so allow me to elaborate on a few topics. First and foremost, if you have enough money or actual wealth, go spend it; there is nothing wrong with it. It’s just fine. But, on the other hand, please do not construct a borrowed lifestyle in which you are just borrowing money after money to meet your needs and goals; this is a horrible method of attempting to appear rich. Why do individuals want to appear rich just because it looks good on social media? I may submit really nice profile photographs and explain to my friends how wealthy I am. That is a very bad race to get into because it makes you financially weak from within, so please try to give up on the race of trying to look super rich because it is a pointless effort these days.
There are so many traps that are laid out. For example, there you can take easy by use Credit cards or BNPL cards for buy everything on a EMI you will be exposed to so many advertisements notices as well as what isn’t where individuals would simply push you to spend your money unnecessarily so please. That it makes no difference how much money you make, even if you live in Goa and are just aiming to spend one day.
You can end up spending 10-20 lakh rupees just living generously for one single day in India, that’s how expensive and crazy the world has become, so it’s not about how much money you make, it’s about how much money you save and invest that gives you more freedom, and the biggest barrier to that is our mindset that if you get into the mindset of trying to appear to be rich, that’s a futile exercise and you will never be financially free and you will foment.
2. Following the finance rule without known it:
The second strategy to remain poor is to observe the one hundred minus age rule. Therefore what does the hundred minus age rule mean? It is fairly easy because if your age is thirty years old, then hundred minus thirty gives you seventy, which is the amount of money you should be investing in stocks and bonds. Thirty percent of your money should be invested in debt, which is a completely well-known age-old rule that has been advised by numerous financial advisors.
However, the problem with this rule is that nowadays the sector has moved directly to the ease of quantitative easing put up 2008, so you may have discovered that. Since 2008, a lot of money has been pumped into the economy, which has resulted in something known as the emergence of synthetic inflation within the international. As an example, in 2020, what happened was that the corana virus shut down the sector, despite the fact that Indian or US markets rallied significantly, so why did that happen? That happened because of quantitative easing, so that is what I am looking for.
It used to work really well in the past when this synthetic inflation problem was no longer there, but after 2008, you need to start thinking the knowledge of this hundred minus age rule it isn’t working anymore if you keep your cash in debt oriented devices it’ll hold you bad alas now everyone does now not have the option of making an investment in only secure devices even though we should maintain our wealth in actuarial devices.
3. Focus on formal education:
The third reason for being trapped in poverty in the current world is that you begin focusing an excessive amount of on formal education. So formal education really means that you are attempting to pick out levels after levels after levels that you have completed Ph.D now you’re going after 1, 2, 3, 4 Ph.D so this is craziness nowadays except of course in a few instances it would make sense.
It would appear that you need to pursue educational song otherwise you need to pursue studies, but most of the time spending a whole lot of time on formal training or examination prep that isn’t always profitable so allow us to pick out the instance of UPSC examination if you recall the fact that nearly ten lakhs applicants put together for UPSC checks and that they on average take and a half of years to clean that examination it is a whole lot of time Ninety-nine candidates who fail this exams have spent nearly two to three years studying.
Preparing as a minimum for that examination and now they may be in a situation in which and two or three years of profession ruin has occurred doing precisely what simply analysing books. I’m now not stating that you ought to now not be analysing books of path attempt to study as a whole lot as feasible however dedicating it slowly completely. I can repeat this word because that is the maximum important factor that dedicating it slowly completely.
Why am I making this announcement? This brings us to the second part of this factor, so what’s going on in the world right now could be that we’re shifting more toward a skill-primarily based totally financial system reflect on consideration on it this manner that inside the previous era, for example, our parents after they had or three levels they were thought to be students if they went and applied to any task humans used to get inspired.
That’s great you’ve got like 3 or 4 levels fantastic however in recent times. There are so many tech jobs or startup jobs, they don’t even care what type of diploma do you have? They care more about what skill set to have and I am hoping that all of us would agree with the point. That doing and pursuing degrees or preparing for exams does not equate to creating skill sets, you will be much better off. If you focus on understanding. some practical learning opportunities or seeking mentorship opportunities, that will help you create skill sets in a much faster and compounded way we are reaching a point where even your skill sets get compounded with time so the sooner. You start the better so please if you are in your 20s do not invest insane amount of time exclusively preparing for exams and pursuing 20 certifications if you are not going to follow academic or research oriented tracks.
Conclusion
To summarise the three points I made in this article, first thing always trying to wear or look like rich people. Similarly, people nowadays are attempting to seem wealthy as a result of social media. Second one is they are now financially blind as a result of their mistake. Third is try to do something without having any planning. There are several thing to avoiding for making our free for our life.
That’s what makes a balanced life, therefore I’m attempting to live a balanced life by avoiding some mistakes; tell me which is your worst mistake, and please share my blog with your friends if you find it beneficial.