The reason why most people have this kind of mentality can simply be narrowed down to 2 things:
Shattered Dreams and Broken Hearts F e n t a n y l t h e K i l l e r Sylvia Abolis Mennear $ 13.00 149 pages
1. Ignorance The lack of knowledge, education, awareness, or information. Sad truth is most of us, if not all, are financially illiterate to begin with. Yes, we have business courses and the likes, but we really don’t have an established, formal institution that provides proper financial education. Schools only teach us terminologies, jargons, and computations. They teach us how to count money, and not how to make them—which the latter is far more important. And as disappointing it may be, we rather choose to use our resources, our efforts, and our time catching up with trends, in with the new, and as the cliché says, keeping up with the Joneses. We hardly think of our future nor speak about it. We barely even plan for it. But it isn’t too late, we can still change. 2. Fear Everyone has his/her own set of fears and it’s completely understandable. But as they say, “Ignorance leads to fear and having the fear of the unknown is terrifying.” I have outlined below a few that we usually hear. Fear of Losing Money Whether it’s your own business, savings, equities, bonds, t-bills, funds, or any other investment tool, there is always the risk of losing money BUT only if you have no idea of what you are doing. You wouldn’t be driving then on a busy highway with eyes closed, would you? I know you’re not dumb to do that. There are several ways to diversify and lower the amount of risk on your investment portfolio and with sufficient knowledge, you can even grow your investment to more than it should be. Fear of Being Different It sure feels great “being one with the crowd” and beneficial for one’s well-being too, however, this may not be applicable to every situation. Being different in the manner of spending habits, managing finances, and planning the future does not only prove how disciplined you can be, but more importantly, an indispensable trait to success. Otherwise, all the stories of successful people we know are damn fake.
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