3 Money Lessons I Learned From Scam Artists To Achieve My Financial Goals
Secret of staying rich
1/ Confidence is key.
Scammers are known for their unwavering confidence, and you can apply this to your finances by being confident in your decisions and investments.
Having confidence in your financial decisions can help you take control of your finances.
Gain confidence to make yourself financial educated, learn from people around you.
Get aquatinted with people who are well versed with money and can guide you to make best financial decisions.
2/ Not falling for get-rich-quick schemes.
A few years ago, all of my friends invested 10K INR (around $122) in an online get-rich-quick scheme, which was a huge amount of money for us back then.
After contemplating for weeks, I gave in to my friends’ advice and invested in it, only to find out later that it was a scam and I would not be getting my money back.
Greed Can Blind You.
Scammers prey on the greed of their victims, but you can use this as a lesson to avoid making impulsive decisions based solely on the desire for more money.
This experience taught me to avoid quick rich money scams and instead educate myself to become financially literate.
Scammers often lure people in with promises of quick and easy money, but these schemes are usually too good to be true and can lead to financial ruin.
It’s important to do your research and avoid investments that seem too good to be true.
3/ Money is more psychological than anything else.
We measure money in numbers, but actually, money is all psychological.
Your relationship with money is driven by your own beliefs and mindset, and how you look at it.
You may think that more money will solve all of your problems, but usually, more money is never the answer.
One day, you may think that getting $10K is enough for you to live a happier life, but the next day, the number may become $25K, and so on..
The key is to train your mind to look at money differently and consider the value it can bring to your life.
More money is hardly the answer; it can help you live better, give you the capability to upgrade your life, and take bigger risks.
But targeting a certain number around money and thinking that it will make you happier is not the solution.
Instead, follow these three rules I applied to learn about money:
1/ Save and Invest Consistently:
One of the most crucial money lessons for building wealth is to save and invest consistently. Saving even a small amount of money regularly and investing it wisely can help you grow your wealth over time.
2/ Avoid Large Debt:
To build wealth, it’s essential to avoid taking on excessive debt.
Avoiding debt and living a simple life can help you save more money, which you can then use to invest and grow your wealth.
3/ Take Calculated Risks:
While it’s important to be conservative with your money, taking calculated risks can also help you build wealth.
This means investing in stocks, real estate, or other assets that have the potential for high returns, but also carry some risk.
In Summary,
Above all, live your life.
I spend a major chunk of my money on buying books that bring the world’s knowledge to my hand.
Drinking my favorite frappe because it makes me happier.
Taking takeout on weekends to allow myself to indulge in other activities like hiking, writing, and making some art.
Or drinking wine with my close friends at my favorite joint to talk about life and the universe.
All these things bring happiness in my life.
So, find what you really enjoy and don’t hesitate to spend money on them.
It’s an investment in a better, happier life in the long haul.
Learn consistently, upgrade your money mindset, and you can build wealth and achieve financial freedom over time.
I encourage you to find what brings them happiness and invest in those things, as it can lead to a better, more fulfilling life.
What do you think, reply in the comments.
Be Bold
Be Courageous
Be Your Best
This article is for informational purposes only, it’s not a financial advice. Please consult a professional financial advisor before making any financial decisions.
