Here’s Why I’ll Never Buy and Read Money Books Again
Here I summarized 50+ money books that I have read
Those who were not lucky enough to be born into the Kardashian family usually want to earn the “small change” in the check.
In exchange for that little change in the check, they accept overtime and economize on their lifestyle. They even cut back on their coffee.
All in the hope that one-day promotions, salary increases, and wealth will make them more comfortable.
But why all this?
The reasons for wanting a lot of money in one’s account differ from person to person.
For some, money is about having personal freedom and avoiding financial dependence, for example, on their employer or love partner.
For others, money is about exchanging their services and sacrifices. Like the time at work and not with family.
The list could go on forever.
Money has a different meaning for everyone
So do their respective motives for seeking financial wealth.
While you may define an account balance of $100,000 as financially comfortable, other people would be satisfied with just $1,000,000.
And then there are those people for whom wealth has nothing to do with money.
But with happiness and love, contentment, or other emotionally positive goods.
The fact is, you strive to make a lot of money, and there is probably no one on earth who would like to live in poverty and worry every day about how to get enough food on the table at night.
Regardless of your earnings, you can live in poverty or in wealth.
At the end of the day, a higher income is not the decisive key to more money.
Not many people know how to handle money
The best way to learn how to handle money is in childhood or adolescence.
This is why spending a fortune to buy books is the stupidest and most senseless thing.
Anyone who had positive role models in his social environment, for example, his parents, and who was also educated early on about money, has the best chance of not having financial difficulties later in life.
Very few people can handle money. And those who attach great importance to financial wealth tend to waste it, otherwise, no one would see how rich they are.
A classic example is lottery winners.
The number of lottery millionaires who are broke or even in debt just a few months or years after winning is alarmingly high.
Especially people who are not used to financial prosperity often overestimate their earnings.
Or a high income.
And they spoil themselves with the fastest car, the biggest house, the long-awaited trip around the world, and some unnecessarily expensive jewelry.
All the money is gone and nothing is left behind, except maybe an unpaid loan.
More money does not mean that at the end of the month, there will be more money in your account. This is due to many thoughts that many people fall in love with.
The survival mode
It is no secret that people tend to overestimate themselves. This also applies to money decisions.
Those who have a high level of self-confidence and have already achieved a number of successes in life tend to assume that success will continue in the future.
Although there is no life without defeats, the successes stay in the memory and thus cause the unpleasant distortion of reality.
Then they think that nothing and no one can touch them and are more prone to make bad financial decisions.
What you should do instead:
Critically examine large, but also smaller investments and focus not only on possible successes but also on possible failures.
Don’t just calculate how much return your actions can bring, but also any losses.
Retirement is a big problem
Many people, especially women, face poverty in old age.
The reasons for this are lack of provision, long breaks from work to raise children, and the tendency to focus on mini-jobs. Summer jobs.
But not focusing on the long term is also one of the reasons for the problem.
One should live in the moment and not in the past or future, they say, and many people seem to take this motto to heart, especially with their finances.
Why save when inflation may have swallowed everything by the time I retire, World War III broke out, or pension funds are bankrupt?
Of course, you can never predict what will be in 10 or 50 years.
It will be too late if you don’t take precautions today. The boring thing is:
Present happiness is more important than just focusing on the future
This is why, despite all your good intentions, you tend to throw your money at your head today instead of saving it for the future.
Moreover, it can happen that you suddenly stop saving and liquidate your reserves for spontaneous investments. After all, you are still developing as a personality and little do you know who you will be in 10 or 50 years.
What you should do instead:
Protect yourself from your future self and make your retirement savings as tight and untouchable as possible.
To protect your savings, you must first create some.
Don’t dismiss the importance of saving for retirement because of youthful recklessness or an exaggerated “You only live once” attitude.
If you regret this decision, it is already too late.
Even if it is only 50 dollars a month.
I will never read books about money again because the authors preach the same things. Earning, saving, and investing.
I tell it all in this story I wrote last year. And you can read it here.
I will go back to buying and reading books about money when the subject is about hidden ways to earn scalable income. Not passive income.
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