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Cryptocurrency : No, earning more money is not enough to get rich. This is why.

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“I can’t afford hyenas.”

Photo by Sharon McCutcheon on Unsplash

Originally posted on lifestylemaniacs.com

D Identify you that people who suffer from serious accidents that affect their health for life are happier in the long term than lottery winners [1] ? Not to mention suicide rates.

Also, did you know that most of lottery winners end up bankrupt ? That is the root cause of their misery.

The goal of this article is to change your perception of wealth. It is somehow contradictory to believe that earning more money will make you richer.

In S01: E14 of Two And A Half Men, Charlie goes broke. Your accountant is trying to explain how this happened because Charlie was shocked. He gave a very intuitive explanation.

He made the cash flow analogy by comparing it to water being poured into a plastic cup with a hole in the bottom.

When water enters the cup faster than it drains, the cup stays full for a while, even after the water stops flowing. Of course, this happens if the hole is just one and not too big.

In Charlie’s case, it had ten holes in the bottom of the cup, and as soon as the water stopped coming out, the cup stopped having water.

The analogy is simple: if you spend more than you earn, you will always be poor.

If you have a zero or negative balance in your wallet or bank account at the end of each month, then you are spending too much. You will not even realize this, but you will think that you are not earning enough.

Let’s say you find a solution to earn more money and you are successful. Do you think it will solve the root cause of your case? In most cases, it won’t be that way because your mindset is the same.

The real problem is that you have a consumer mentality. When you have more, you think you can pay more. As a result, you spend more.

If you changed your mindset from consumer to investor, you would find that you spend too much on liabilities and not on assets.

Plus, you’ll see that more money equals more savings for potential investments and no more spending on things you don’t need.

I understand. You are already cutting your expenses to a minimum because you were not so lucky. In your case, the solution is just to increase your income.

However, there is a catch to this exception. If you made more money, you would probably have a need to make up for all those years of lack of wealth.

The example above is what happened to me. I made more money than I ever needed and still ended up borrowing money from others from time to time. Fortunately, I realized my problems and solved them at the right time.

If you are struggling with your money, look at your expenses first before trying to earn more.

check your bills: are you wasting electricity, water, gas, etc.? check your transportation – can you walk or take the bus instead of the car? check your subscriptions – do you need Netflix, Spotify, YouTube Premium, Amazon Prime, etc.? check your purchases – do you need new clothes, new accessories, new gadgets, etc.?

The list goes on but, in short, embrace a minimalist lifestyle. Think twice before clicking the buy button.

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