THE MONEY MYTHS

We live in a financial planet where you see billions of dollars’ transacted every day. Businesses are valuing in trillions; some Individuals have net worth more than 200 Billion dollars. Have you ever wondered why some people are wealthy and some are not? Why some people are rich and some are not? Why some people have made so much money that, their dozens of future generations can take care of themselves even without making further money where as some are struggling to live for the next day with hunger.

Let us face the truth; Money on planet earth is as important as Oxygen. If you go to any corner of the world, anything you want, you need to pay money in the exchange.?Without Money, you are nobody. People who say it is peaceful without money, I would say: Do not lie to yourself man, you better know how important it is to take care of yourself, your Family and society.

I truly believe that in terms of ability, there is no difference between the wealthy and the rich, and between the rich and the poor. It is all about the information they are getting about money over and over and over again.

You are the by-product of your mind and your mind is nothing but result of your habits and behavior. What you feed your Mind repeatedly you become that person, and I know most of the people have feed with misleading beliefs when it comes to money.

I am too old to make money.

I am not smart enough.

I am not educated enough.

I am afraid of trying and failing.

I need money to make money.

I will be selfish if I get more of it.

I do not feel that I deserve it.

I do not have the will power.

I am too busy at the moment.

It is hard to make money.

I am not money minded persons.

The Excuses and beliefs go on and on and on. This is not your fault by the way, its been inherited from your parents, teachers and society since childhood.

I am sharing below the top 3 money myths, check if you are affected by any of those?

Money Myth 1: "SAVE YOUR MONEY"

People all around the world spend 50-60 hours a week running around hustling, they get 10 thousand Rupees what do they do now they run over here to the bank drop off the 10 Thousand Rupees then they run back out, do another 50-60 Hour, pick up another 10 thousand Rupees. They are like, “Man i had a great week, didn't i bang” and then they run over to the bank and drop it off. These are the good people by the way, the bad People go pick up 10 thousand Rupees, go to the club and blow it.

The good People run around collecting a thousand Rupees, five thousand Rupees, and ten thousand Rupees. They get sophisticated, when they get the money. They are like “I will put some amount in the saving account at HDFC; I will have a little over here at ICICI.” I am going to spread this around. I will work hard I’m going to spend 50 years killing myself to make sure all these institutions have my money where they pay me nothing for the sake of security, right?

Saving Money will not help you to make the freedom, in an 8-10% inflation rate per year. Money is useful only when it is used somewhere to beat the inflation.

Am I telling you to not to save? NO

Because if you don’t, you will miss out of the opportunity that requires money to reap the most benefit. What I am telling is, if your focus is on saving rather than making more, is a bad bad idea. If you are cheap and focus on saving few rupees, you cannot focus on making crores.

Money Myth 2: "YOU CAN AFFORD TO WAIT"

Let us say the average lifespan of a human being is 70 years. For the first 20 years, you are growing up. Your parents are taking care of you while you learn to be an adult. You are a kid. You really don’t have a lot of choice while you are with your parents, so the first 20 years are gone, now you have 50 years left. At the age of twenty, now you are an adult, you can make choice and can decide what you want to do.

One third of your life is spent on sleeping. The other one third is wasted on entertainment, relaxing, cooking, and having breakfasts, lunch & Dinners. Scrolling Instagram and facebook pages, going and returning from work and traveling.

When you really crunch the numbers, you only have 10-15 years to make the fortune. In addition, that 10 or 15 years does not even count the mistakes you are going to make on the way, the financial set back you have, or the learning curve you will have to go through.

Do you want to travel the world??If your answer is yes, would you like to do it at the age of sixty-five or at the age of thirty-five? Why do you want to wait up to 60 years to be financially free? Who has put that crap on your mind? I think it is the financial institutions or Mutual funds or might be insurance company. Why not make your fortune and retire at the age of thirty-five years? Or why not at the age of thirty?

Money Myth 3: "MONEY WON’T MAKE YOU HAPPY"

May be! May be money won’t make you Happy, but who wants money to be happy?

Money and Happiness are two different aspects of life. I want money because of money, not because of happiness. I want money to fix money problem not to find happiness. Mixing up the two different aspects will not make you Happy either, because you know deep down inside that money can radically change your life for the better. By having a good amount of money, you can spend more time with your friends, family and kids.

As I said, you are the by-product of your mind and your mind is nothing but, result of your habits and behaviors'. What you feed your Mind repeatedly you become that person. Don’t get confused in the modern world. Feed your mind with the right knowledge and never have a scarcity mind-set.

To your Breakthrough,

Ramesh Patra