Tuesday, September 15, 2020
Money Fantasies and Money Miseries
If money really matters to you, then earn more.
To earn more, capitalize on the skills you already have, enhance and improve them, and look for better and richer employment. In addition, there are likely many other skills you may possess that cannot be or have not been fully maximized or utilized wherever you are working. Then, harness those skills and capitalize on them through doing some freelance work on the side to maximize your current income.
If, on the other hand, you do not have the basic skills, and you do not want to learn and acquire them, and yet you always crave money and wealth, then your cravings are only your money fantasies.
What are money fantasies?
Only your money wisdom can separate your money fantasies from the money realities.
There was the story of a beautiful and sophisticated woman in her mid-twenties who wrote to an investment counseling company looking for a list of eligible bachelors with earnings of at least $600,000 a year. That woman had money fantasies in her mind.
According to experts, using marriage as an investment is a money fantasy, and no more than a bad investment bargain—just like investing into a shrinking currency. Imagine, the beauty of that woman will shrink over the years, while the $600,000 may grow over the long haul.
So, marrying into money, buying the lottery, and winning at the casino are all money fantasies.
What are money miseries?
Money miseries are also the realities for many, who always feel dissatisfied, frustrated, insecure, and insolvent. This mental condition suffered by many is often a result of constant exposure to media news of the rich and the famous, as well as their own perceptions of “possessions equal satisfaction.” It is your own mental interpretation of what you see verses who you really are.
You have money miseries if you have a job with a modest income but still living from paycheck to paycheck. If you are struggling with money miseries, you need your money wisdom to change your belief system, to stop comparing yourself with others around you, as well as to identify all the whys of your emotional feelings about and around your money miseries.
Why so many are broke?
According to The Wall Street Journal, many consumers (nearly 70 percent) are living from paycheck to paycheck. More than 50 percent consumers worry a lot about money, such as retirement. Once they lose their jobs or encounter any financial crisis, they become broke.
Even wealthy celebrities, such as Mike Tyson and Michael Jackson, go broke.
Mike Tyson, a boxing champion with several heavyweight titles, earning over $300 million dollars during his successful boxing career, ended up in bankruptcy in 2003.
Michael Jackson, recording artist, dancer, singer and songwriter, earning more than $500 million dollars, was heavily in debt when he died in 2009.
Of course, you might say: “If I had those millions of dollars, I wouldn’t become broke?” But if you cannot change your current spending habits, it would be a lot more difficult to change them when you have become a wealthy celebrity, such as Mike Tyson or Michael Jackson.
So, going broke is no respecter of persons, whether you are poor or rich.
The bottom line: Everyone needs to have the money wisdom to know how to earn, invest, and spend money to avoid going broke.
Copyright © Nora Wise
Posted by Stephen Lau at 3:55 PM