Thursday, December 28, 2017

1144. To stay Rich or to become Richer???

We find two sets of people, one who are becoming richer and the other who try to become rich. Ironically both fail to live a contended life. As for as the word “Poor is concern, both of them are poor. If not, one would not try to be rich and the one who is already rich would not yearn to richer. Unknowingly we classify them as “High” class and “Middle” class respectively.  

The middle class work for money while the high class have money to work for them but amazingly both are financially illiterates. Financial Literacy is the most misunderstood concept. It is the ability to use wisdom to manage financial resources effectively for the well-being of self in particular and society in general. Financial Literacy is not managing the financial resources using the mind, but managing mind in using the financial resources. 

Financial literacy is to be aware of the financial independence which we have irrespective of how much we own. It is to be free of the need to earn a living; by turn our attention to make what is there already into abundance. If we lack this awareness it is then “Poverty Consciousness” which makes it impossible to create wealth for ourselves and others. Being stuck in a job with no satisfaction just for the money or being unemployed or underemployed, does not help self as well as others. No matter what, we need financial literacy so that we may take advantage of our talents to serve our self and others too. But poverty consciousness prevents us from being willing to learn or from realizing that we will have more to contribute to society if we are rich than if we are poor.

Middle class study hard to score academically so that they get to work for a reputed corporate company. They draw handsome salary and start buying things which increase the liabilities which they presume to be assets. If there is clarity to differentiate between assets and liabilities then one is wise. Assets create income and liabilities generate expenses.

Investing on liabilities the middle class is stuck in an endless cycle of fear and avarice. Fear of being without money compels them to work for it, and when they have money avarice makes them spend them. The vicious cycle of earn and spend continues and there is no financial freedom.

The one who are already rich continue the desire to become richer. They have more assets than their liabilities which they call wealth. According to them net-worth is wealth but what they don’t understand is that wealth is not net-worth. Wealth is what makes you feel that you can survive from this moment it does not mean only money, one can survive even without money or with little money. The one yearning to become richer swindle the financial institutions to make more money. They want others to raise their eyebrows looking at the way they amass wealth, irrespective of whether it is by misappropriation or mismanagement. The infomercials also lure them time and again and hence they too like the one who want to become rich are burgeoning hard aimlessly.  

The one who want to become rich and the one who want to be richer have missed the point which is to enjoy the living. Both postpone the joyous living for the future when the present is more enchanting and delightful. If not now when, is the million dollar question???  Isn’t it???

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