Due to the simple nature of money, people have different ideas about it. Since its place in society cannot be overemphasised, there is the need to be aware of some brutal truths about the nature of money.
The lack of knowledge about it has put many in the continual chase for it with nothing in return. Since human wants are insatiable, the need for money also becomes infinite. But when you understand money, you can use it any way you want. Here are some brutal truths about money that no one will tell you.
Wealthy people do not flaunt their money; they invest it
Money does not need to be displayed before people know that you have billions stacked in stocks and banks. This is the borderline between wealthy people and ‘wannabes’. Since they have real money, they do not need to make a spectacle with fake money.
Instead, they invest and reinvest their money. No wonder the richest man in Africa, Aliko Dangote, in an interview with Sudanese billionaire Mo Ibrahim, said he does not carry money with him. The day he wanted to convince himself that he was wealthy, Dangote withdrew $10 million and took it home before believing he had money.
Your money reveals the value you offer
The more value you offer, the more money you get. This is the simple logic behind wealth creation. Your wealth reflects your value. If you are still in doubt, why do you think the wealthiest people in the world, such as Elon Musk and Jeff Bezos, are revered?
Apart from the wealth these individuals control, they also provide value to their country and the world. Jeff Bezos’ Amazon is regarded as the ‘King of E-commerce’ while Elon Musk holds sway within the tech space.
A flop in one of the two companies could affect the world’s economy.
Money can never make you happy
You’ll be shocked if you think money will make you happy. Though it can buy and get you access to some things, it can never make you happy. No wonder Steve Harvey, an American multi-millionaire, said that money is not everything and does not make you happy.
Although it is necessary for survival, it never brings satisfaction. He, therefore, scarcely recommends it. Instead, have a positive mindset about money. This way, you will be able to generate and build wealth.
Henry Ford, an American industrialist and business tycoon said, “If money is your hope for independence, you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.”
Borrowing money is easy, but paying it back takes forever
Though borrowing seems the only feasible option, it is far from being the best. Instead of considering the benefit of borrowing money, consider the time frame and what it will cost you to pay it back. When doing this, do not leave any stone unturned. So consider the economy and your financial standing. Remember, the economy is not cast in stone.
Even for business investment, consider all the pros and cons and if it is worth it. The benefit of the business to you will be your return on the investment. It takes money to make money.
It is a stream that can dry up
Some people have a phobia of keeping track of their income. Their limited income stream further compounds this. If you join the lot, you will discover that just like a stream, money dries up.
Therefore, be in charge of your income and expenses. Be comfortable with dealing with your finances. Also, the more income streams you have, the more bank alerts you receive and vice versa. So be on the lookout. If not, you will be left thirsty.