If you work without rest or sleep and spend money only on the essentials, but still cannot achieve high income, you may be doing something wrong. For example, you trust financial myths that prevent you from increasing your income. We have sorted out some of the most common and stupid misconceptions.
1. “Honesty does not make big money”
We are used to the fact that nepotism and fraudulent schemes still work in certain areas. And the news about the next financial machinations of millionaires and corrupt officials, although angry, is not at all surprising. Many of us, especially people of the older generation, are accustomed to thinking that only unprincipled people get wealth, as opposed to ordinary and honest working people.
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In fact, honest work and competence in making money is far more important than any cunning and powerful patron. After all, useful connections can be interrupted, but huge experience and the ability to quickly adapt to new conditions cannot be taken away.
2. “Investments are too difficult and risky and in general it is a fraud”
Until financial literacy is taught in school as well as mathematics, most people will be suspicious of investing. This tool is often associated either with pyramid schemes, that is, fraud, or with the mysterious world of Wall Street, where stock market tycoons run everything.
Investing as a way to increase income can be risky – if you act at random. But you can really understand them, even if you are far from the world of finance.
3. “Money to money: you need start-up capital for wealth”
This myth is especially tenacious in the minds of people who dreamed of their own business, but did not start it. There are many reasons to refuse to go into business. And one of them, logical at first glance, is the lack of money to start a business. But this problem, firstly, is solvable, and secondly, not the most important one.
If you want to work for yourself and do it legally, you will definitely need seed money. But even more important is a whole set of factors. This, for example, is a popular idea that solves a specific problem, a pumped-up business thinking – what is called a business vein, a reliable team, a neatly drawn up financial plan. And money can be found: banks and government agencies offer various support measures to start-up entrepreneurs.
4. “I do not have a money profession”
You don’t need a degree in economics or finance to make a lot of money. You don’t have to be a programmer or show business star either. After all, the profession does not play a key role. And it cannot be an obstacle on the way to high income.
Even if you are a teacher by profession, you can make money on your own school or trainings. Another thing is important; at least the initial business skills and the ability to manage money. It’s okay to be aware that you are lacking in knowledge. Educational programs and thematic courses will help you not only improve your professional skills, but also gain new knowledge.
5. “I don’t have the personal qualities needed to be wealthy”
The most difficult factor that you will have to face is your inner resistance and lack of faith in yourself. Not smart enough, talented enough, good enough – the list of what you supposedly fall short of is endless.
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In fact, there are no personal qualities due to which a high income and a comfortable life can be earned . The desire to get rich, knowledge and willingness to act are important. It is absolutely normal to want to change your life, increase your fortune and improve your financial situation. It is not normal to be afraid to act, not strive to develop in order to earn more, consider oneself unworthy. Don’t get confused.
6. “To have money, you just have to spend less”
This statement is only partially true. Money is really worth spending wisely, but austerity without good reason leads to neurosis, not to increased income. It is much more practical to learn how to earn more, rather than tighten your belts. It is necessary to increase capital, not to conserve it.
Adapted and translated by The Cop Cart Staff
Sources: Life hacker