10 things about money you need to know


    Only understanding money will you have more money and use it to have more and more money

    Number one: You are not rich because of the money you make, but what you do with your money after you make it: Someone will spend it by buying houses, cars, fancy meals. In contrast, someone uses to hire others to work for themselves, build their own jobs, invest in replicating assets. If you spend everything you earn, you are definitely not rich.
    Number two: Money is no different from a product of a company, like a carton of milk you drink every day. It can be mass produced and the longer it is left, the more it loses its value, it expires. Therefore, accumulated money must be converted to real assets such as gold, land and what produces money such as: building businesses, businesses, investing, ...

    Number three: You don't get rich at work. You get rich at home. The essence of a salary is just keeping you alive, and still being dependent on the company to keep working for them. What you do in your free time determines who you are: Who do you meet in your free time, what books do you read, what books do you have?

    Number four: The person who lends you money is someone who doesn't just stop lending you money. The money they make is sweat, effort and even trade-offs for their opportunities such as investment, business, ... need capital. They also have problems in their lives. They can even deposit money in the bank for interest. But they are willing to lend you, proving that they respect and trust you very much.

    Article five: Take responsibility for what you do. You eat, pay for your meal. Don't hold others accountable. You may make a few pennies, but you lose both the pride and willpower needed to get rich. Invite others if they are creating value for you. And be welcoming if someone invites you when you add value to their life and they want to show your appreciation.

    Number six: Money is equal to the value you give to others, to the company, to the market. So if you want a lot of money, the only way is to develop your own abilities. Can solve a big problem, can solve a large scale for many people, can solve in a long time. Imagine as a Youtube Video that guides others to solve money problems, it can help many people and even years later it will be on Youtube and solve for many others.

    Money Reflection Corner

    Knowledge will clear all worries. If the day before the problem was: Getting a job, saving, sending to the bank is done. But now the society is more modern, more risky. The game of money is more complicated, money is no longer an asset, its value is in the hands of other powers not it. Then we, and generations to come, need to equip this knowledge of money, financial education even before we step into making money. Otherwise, we will become slaves of money, otherwise our effort will be lost.

    Imagine this is the bottom of the basket. Financial knowledge, money is like the bottom, so we can keep money. This bottom is for sure, go ahead and make money to be assured. You have to prepare this bottom firmly. Standard knowledge, understanding it, to pre-determine situations that happen, not to listen to anyone. Understanding the origin of money is a must to know.

    Excerpt from the Book of 101 Things to Know About Money From Basic to Advanced

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