The Simplest Trick to Become Financially Stable
Money may not be the most important thing in life, but it will make the most important things in life so much better.
For years, I have been obsessed with entrepreneurship.
Not going to lie, but I did fall for that fancy lifestyle they showed on the internet.
I still remember when I would act like some big shot and someone cool who owns a business. I thought that was the way to make it to the entrepreneurial club. But in reality, I wasn’t even making a penny from my venture for a long time.
(Funny! I thought it was a startup but in reality, it was just a website with some content.)
I invested more money on my website than I was earning to live the life of an “internet-like entrepreneur”.
Long story short, I was living in a paracosm.
So, finally, after four (or maybe more) years, I have decided to eliminate my obsession with “entrepreneurship”. And do what?
Live a simple life with no hotch-potch.
To be honest, I was never an entrepreneur material. I have always been a regular person who loves 9–5 and for all the good reasons and want to be financially stable.
Really! Not kidding!
And guess what? Lately, my life has become a little smoother. I am not like those “internet riches” but I am in a pretty good financial state.
Yes, I do have days when I think about how I am going to pay the bills, but I always find a way without stressing out.
I even bought an apartment recently, which is a big deal, considering where I come from and my age.
I am not boasting. Rather, I just want to share a little something that I have learned from my mother. I want this to work for you like a windshield wiper and help you see through clearly.
Sounds good?
Let’s go!
Here’s What You Should Do to Become Financially Stable
RESPECT MONEY
Yes, you heard it right!
Now, before you start judging me and abandoning this article, hear me out. Because this is absolutely no bullshit.
My mother used to always tell me —
“Please respect money. The way you keep and use your money speaks a lot about you as a human.” I would simply say — “This is all nonsense. I work my ass out every day to earn money. Am I not supposed to spend it the way I want?”
But then, with time, I realise what exactly she meant.
From wars to infidelity, from destroying friendships to tearing apart families; money has always taken the blame. We all demonize money.
Also, remember that phrase, “money is not important”? I am sure you do and most probably you have said it multiple times.
But, you know what?
Money may not be the most important thing in life, but it will make the most important things in life so much better.
So, here’s exactly what I mean by respecting money — TAKE CARE OF IT. PROPERLY.
If we give money the respect it deserves, it will reciprocate in the same way.
Now, you don’t have to get up every morning and offer prayers to your money. No, you don’t have to do that.
The best way to show respect for money is by understanding its value in the true sense and spending it mindfully.
Let me give you an example:
Munna Tripathi is a content marketing specialist in a startup in Mirzapur. Lately, Munna thought about saving and investing money. So, he decided to reach out to Mirzapur’s top financial expert Guddu Pandit.
Even before Guddu started with a strategy, he gave Munna a reality check.
Guddu: When was the last time you had a party?
Munna: Last Saturday itself. It was so much fun. My friends and I went to this fabulous pub. We had a lot of drinks, we danced, it was great.
Guddu: Wow! That sounds good. What about the bill? How much was it?
Munna: We split it. I had to pay somewhere around ₹10K.
Guddu: When did you start planning for this party?
Munna: We didn’t plan, to be honest. It was a weekend and my friends called me up so I went with them.
So, here’s what Guddu said after listening to Munna:
You went out with friends and spent ₹10K on drinks without even planning. But now you’re thinking gazillion times before investing ₹5K every month on a mutual fund that would give you good returns. I don’t think you have any respect for your hard-earned money.
This Is Where the Problem Lies
If you can somewhat relate to the above scenario, I think you know where exactly the problem is.
You aren’t giving your money the respect it deserves. Your priorities aren’t in line with a financially stable future.
Now, I am not portraying you as a spoiled person. Even I have done the same for years and I am still learning to control the urge of spending money without thinking twice.
Now, again, I am not saying you shouldn’t go out with friends or family and have a good time. All I am saying is if you can spend so much on booze, then you can also invest some amount monthly for a better future.
To put it simply, it all lies in your list of priorities.
Another Reality Check
I hope you’re with me so far and you’ve understood what I am trying to say.
Let me spit some more harsh facts.
Another trait that shows you disrespects money is this:
You are constantly thinking about earning money. You want to be rich and financially stable. You’re working hard to get your hands on money. And this is good. Really good.
But what’s not good?
As soon as money comes to you, you just can’t stop yourself from spending it.
I know…I know. You’re relating to it. Even I am.
(While writing this article, I am constantly thinking about all the wrongs I have done to my hard-earned money.)