Time, Possession, Fastest way to have less money, Save money

 

Controlling your time is the highest dividend money pays.

Good family, Bills paid, Bank account looks better, Healthy, No drama, Dreams coming true, all these require consistency, time, sacrifices, and whatnot to achieve. It is the highest dividend money pays.

To have the ability and sense to control over what you have, what you want, how you want, when you want matters more than the work you do just for the sake of a good salary and a good house, is what makes people happy. Having discipline over money and time has its advantages like you get the autonomy over your unspent asset, can generate a small amount of wealth that can be used when you get sick and don't need to take a loan from banks or others, wait for a good job to come around rather than sticking yourself with the first one, you can retire when you want instead of when you need to, etc.

Sometimes people feel that they are in control and they can do anything. When other people advised them to do something, they tend to overreact and take it on their ego, rather than evaluating advice which might turn beneficial and originally been happy to go along.  

To achieve success, you should learn more and speak less. The more you speak the less you learn but you learn more, you achieve more.  In earlier times like in 1870, 46% job was in the agriculture sector, 35% jobs in the industrial sector and the rest relied on a worker's brain. In those times, to earn a good chunk of money, you need to showcase your work which has nothing to do with the brain, it has to be visible and tangible but today in the 21^st century everything has changed. 38% of jobs are designed as "managers, officials, and professionals". These are decision-making jobs. Another 41% are service jobs that often rely on your thoughts as much as your actions. As the workload has increased, because most of the jobs are depending on the ability to think, controlling your time has reduced. Therefore people don't feel much happier regardless of having money. It is not an easy problem to solve because everyone is different.

Steps to overcome such problems are you shouldn’t think like you need to work as hard as you can make money to buy happiness. You should not think like you need to be at least as wealthy as people around you, just go with your flow. You shouldn't choose your work based on how much you want to earn.

Take it from those who have lived through everything: Controlling your time is the highest dividend money pays.

No one is as impressed with your possession as much as you are.

Nowadays people flash their aristocratic fleet instead of stashing it. They think that to be liked and admired, using their wealth as a benchmark is the most efficient way. But unfortunately, it isn't. The reality is that they see your pretty Lamborghinis, not you. To earn respect and admiration from the people you want, you don't need expensive things. You need kindness, humility, and empathy.

So make sure that you respect others, be kind to them, help them instead of flexing your possession.

Spending money to show people how much money you have is the fastest way to have less money.

Warren Buffet once said  “don't buy luxuries until you have built the assets to afford them" but in this modern world, people buy luxuries even if they can't afford them just to show some people that they have money. And instead of finding how much they are worth, people tend to believe what they see. They rely on their outward appearance. Even though it has been called the "evolved era", people fake it. And the truth is wealth is you don’t see. When people say they want to be a millionaire, what they mean is they want to spend million rupees.

Sometimes to feel rich, people spend a lot of money on expensive things but the way to be rich is to spend money that you have and, not spend money you don't have. And the way to be wealthy is not to spend money on unnecessary things. Wealth is something that is not yet spent. It offers flexibility, and growth to spend money when you need it and omit the options of borrowing.

Many wealthy men spend a lot of money, buy expensive things like a yacht, cars, penthouses, etc which laymen can't afford, and the mistake normal people do is they see only their richness, their spending, instead of seeing how many portions of their wealth they are spending, their financial assets, portfolios, and whatnot.

I think many people want to be wealthy but their mind has been set in such a way that they think to have money is to spend money rather than saving it. The sad reality of this world is many people who look modest are wealthy and many people who look rich are on the verge of insolvency.

So you must keep this in mind when judging others’ success and setting your own goal.

Save money.

Generating wealth has more to do with saving money than investing or getting income. People of certain income fall into three categories: those who save, those who don't think they save, and those who can save but don't.

For many of us, investments are like the only tool for being wealthy but the reality is investing your money is not the only tool. Personal savings also matter. Financial conservation and its efficiency to maintain are the part of the money equation which is more in your control and it is as effective being in the future as today. It has become pessimistic if you see building wealth as something that requires a lot of money. But if you see it as the pedestal of success, the picture becomes clearer.

More importantly, the value of wealth is relative to what you need. Say if you invest and earn 9% annually and your friend invest and earn 13% annually but you are satisfied with your returns. Why? because your needs only consume 1/4^th of your returns and it is more in your control. The same goes with paychecks to paychecks, if you have the control and you start saving from an early age, by the age of retirement you would have enough amount of money that you wouldn't have to beg for a living. And this can be obtained if you set your ego aside. When you put your savings between your ego and income, you would realize that why low-income people try to saves little money and live their life.

This world used to be hyper-local. Like 100 years ago, there were neither phones nor the facilities of mail services. Therefore there was no competition but that's changed now. The world has become hyper-connected means there are numerous pools of talent. Being intelligent is not considered an advantage nowadays. And in such a hyper-competitive world, if one has the flexibility to learn new things, you'll have a better chance to win. And that will set you apart from the crowd.

If you desire less, you spend less. It seems simple but it isn’t as money relay more on psychology than finance. And you don’t need specific reasons to save. You can save just for the saving’s sake. And it might become beneficial in times of pandemic. Also, it gives you the flexibility to wait for the no-brainer opportunities to fall in your lap.

That's why more people can, and more people should save money.